Giant Hedge Fund Goes “Soros” On Bank Of Japan: Bets Billions That Japan, And MMT, Will Break

• Giant Hedge Fund Goes “Soros” On Bank Of Japan: Bets Billions That Japan, And MMT, Will Break
  by Tyler Durden, https://www.zerohedge.com/
  Less than a week ago, we wrote that “As Yen Crash Accelerates, It Puts Catastrophic End Of MMT Experiment In The Spotlight” a less than cheerful assessment about the endgame in Japan echoed on Monday morning by Bloomberg, which wrote that “Japan Starting to Crack as Yen Tumbles With Stocks and Bonds” in which it wrote that despite the yen crashing to a 24-year low (for the same reasons we have repeated again and again, namely you can’t keep your 10Y yield at 0.25% and avoid a currency collapse in a scorching inflationary environment), Tokyo stocks were down the most since March (the plunged again on Tuesday).
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  Meanwhile, also on Monday, Deutsche Bank’s head of FX George Saravelos came the closest of any establishment banker to warn what we have been saying for years – the great MMT experiment is ending, and its unwind will begin in Japan, that “Guniea Pig” for all major central bank experiments (first ZIRP, first QE, first ZIRP, first central bank buying of ETFs, etc).
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  In a piece titled, “The printer is on overdrive“, Saravelos wrote that if the current pace of buying persists, “the bank will have bought approximately 10 trillion yen in June. To put that number in context, it is roughly equivalent to the Fed doing more than $300bn of QE per month when adjusting for GDP!”
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