Bank of Japan begins rapid money creation
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- Princes of the Yen whole source · open book
The Japanese economy recovered temporarily in 1999, because the Bank of Japan suddenly—and, as it turned out, temporarily—switched on the printing presses on 31 March 1998, creating money at the fastest rate in a quarter century. One day later, the new Bank of Japan Law became effective and the Bank of Japan had achieved legal independence.
chapter: 16. Reflation: Another Miracle in the Making
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- Richard Werner author of the source