Honest question: Since the Reagan reset in the early ‘80s, the yen has depreciated, in gold terms, 2% against ‘equilibrium gold’ (10 year moving average) and 4% against spot gold. Is this praiseworthy or contemptible, relatively speaking?
Mostly it is just a record of terrible unnecessary monetary distortion. It is one reason why prices haven't actually changed that much in Japan so far, despite the recent XAUJPY move.
Honest question: Since the Reagan reset in the early ‘80s, the yen has depreciated, in gold terms, 2% against ‘equilibrium gold’ (10 year moving average) and 4% against spot gold. Is this praiseworthy or contemptible, relatively speaking?
Mostly it is just a record of terrible unnecessary monetary distortion. It is one reason why prices haven't actually changed that much in Japan so far, despite the recent XAUJPY move.