Mo’ Money
The spigots are wide open, with another gusher from Japan:
The Bank of Japan said it’s ready to pump more money into the financial system after unveiling a 10 trillion yen ($115 billion) program to help an economy battered by falling prices and the yen’s surge to a 14-year high.
“If there is a shortage of liquidity we are prepared to provide more funds,” Governor Masaaki Shirakawa said after an emergency board meeting in Tokyo today that decided to offer three-month loans at 0.1 percent to commercial banks.
But, but… I thought things were all better now. That’s what we’re being told day in and day out.
It’s no wonder that gold tagged the $1200 mark today.
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