So… the Entire Rally Was Based on a Lie?

The Bank of Japan admitted back in June helicopter money is not on the agenda. Amazingly this is news today after the market has rallied hard based on hope that helicopter money is about to be unveiled.

The yen pared an advance against the dollar as it emerged that an interview in which Bank of Japan Governor Haruhiko Kuroda dismissed the idea of so-called helicopter money was conducted in June.

The Japanese currency earlier jumped more than 1 percent after, in comments broadcast on BBC Radio 4 on Thursday, Kuroda said there was no need or possibility for such a strategy. The interview was conducted on June 17, a BBC spokeswoman said.

Source: Bloomberg

This is not a surprise to anyone who does actual analysis. Kuroda said back in April 2016 (even before the above interview) that the Bank of Japan CANNOT implement helicopter money because it is ILLEGAL under Japan’s constitution.

But then again, we are talking about the same Central Bank head that claimed NIRP wasn’t coming… only to launch it eight days later in February 2016. However, that proved a disaster with the Yen surging while the Nikkei plunged.

This is the problem with the entire financial system today: everything is trading based on the words of a handful of Central Bankers, many of whom was perfectly willing to lie or deceive just to push stocks higher.

Indeed, the entire market move from the BREXIT lows has been a desperate manipulation by Central Banks as they begin to lose control of the financial system.

We saw the same thing happen in 2007: a final push to new all-time highs in October. What followed wasn't pretty.

A Crash is coming… and the time to prepare is NOW, before it hits.

On that note, we are already preparing our clients for this with a 21-page investment report titled the Stock Market Crash Survival Guide.

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Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research





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