Napier: Japan preparing next salvo in currency war

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From the AFR:

In his latest investment note, analyst Russell Napier argues that Shinzo Abe is presently trying to persuade US and European leaders to agree to a co-ordinated boost in fiscal spending in order to bolster global growth at the G7 Ise-Shima summit which he will host later this month.

But, Napier predicts that Abe “will fail, and in that failure get the authority to launch Japan’s final roll of the reflationary dice – the direct financing of the state by the central bank – ‘helicopter money’.”

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.