(WPT) NY Fed Confirms Intervention in Currency Markets for First

Subject: (WPT) NY Fed Confirms Intervention in Currency Markets for First

(WPT) NY Fed Confirms Intervention in Currency Markets for First
Time in More Than a Decade                                   

Article in Washington Post confirming intervention to weaken Yen -  but my question is why on earth would you intervene to make Yen weaker... it makes no sense whatsoever for the people of Japan to have a weaker Yen at this time.... they need to import huge volumes to rebuild .... unless of course you are acting solely for the benefit of a  small number of highly leveraged financial institutions who are up to their eyeballs in the Yen carry trade borrowing at zero rates to fund vast asset books.  The global financial system is truly being run completely for the benefit of a small but very powerful gang of crooks.