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Bank of Japan 1. Prints insane amounts of money. 2. Becomes largest holder of ETFs in the Nikkei, incentivizing investors to purchase Japanese ETFs borrowing in yen. 3. Yen falls to 40-year lows 4. BOJ blames "speculators". A classic. 5. BOJ spends billions stabilizing the yen 6. Yen rises, market declines, margin calls jump, Nikkei plummets. Black Monday. You think this is "free market". en.macromicro.me/charts/26280/jpy-boj-hold...