Princes of the Yen
by Richard A. Werner · first published 2003
13mentions
9recommended by
12HN commenters
2018–2026first – last mentioned
75% recommend25% neutral
Why HN recommends it
Argues the Bank of Japan deliberately engineered a boom-bust cycle through bank lending quota manipulation. Offers documented analysis of central bank interventionism in Japan, the US and Europe.
Summarised by Claude from recommending comments
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I wouldn't be so sure that EU and US will follow the Japanese scenario. In many regards Japan is a special case. On this subject I recommend reading Lyn Alden [0] and Princes of the Yen [1]. [0]: https://www.lynalden.com/economic-japanification/ [1]: https://www.amazon.com/Princes-Yen-Central-Bankers-Transform...
on “Entire German bond yield curve back in sub-zero territory” ↗I would recommend the 'Princes of the Yen' as an incredibly insightful documentary based on Werner's analysis of the Japanese economy.
on “Do We Need Central Banks? (2017)” ↗Read "The Princes of the Yen", by Richard Werner. He coined (no pun intended) the term QE and his analysis of the Japanese, European and American government/central banks monetary interventionism is spot on. There's a documentary…
on “Banks, QE, and Money-Printing” ↗I like Richard Werner's take on the matter: https://en.wikipedia.org/wiki/Princes_of_the_Yen
on “Japan’s Temple-Builder Kongō Gumi, Has Survived Nearly 1,500 Years” ↗…many people drive themselves crazy trying to define it as a currency, or arguing against it as a currency, but that’s just a mental tar pit. [1]:One well-researched take: https://en.wikipedia.org/wiki/Princes_of_the_Yen
on “Bitcoin’s plunge intensifies, tanks 30% to $30k in single day” ↗Also "Princes of the Yen", it mentions how IMF took advantage over Asia https://www.youtube.com/watch?v=5-IZZxyb1GI
on “IMF warns El Salvador: “Bitcoin should not be used as a legal tender”” ↗…Bank (BOJ) actively conspired to kill (aka reform) the Japanese economy by creating a boom-bust cycle out of bank lending quota manipulation. It all sounds "conspiratorial" but is well documented in "Princes of the Yen" (anything questioning illegitimate power today, is automatically a "conspiracy"...). It's really quite sad to see the country which set the model for Asia being destroyed like this.
on “Yamauchi No.10 Family Office” ↗…the reason why he is a bit nutty is because his professional experience was Japan in the late 80s/90s, that scenario tested all the assumptions about macro and found a lot of them were false, his book Princes of the Yen is good...although, again, very heterodox).
on “Will real estate ever be normal again?” ↗"Princes of the Yen" - both a book and documentary - well worth watching: https://www.youtube.com/watch?v=jsO0JYu_5WI
on “China’s property giant Evergrande files for bankruptcy protection in Manhattan” ↗> and forced it to pick up a shitty monetary policy. I think this was the real killer. There’s a bestselling book on that in Japan, Princes of the Yen (and documentary on YouTube).
on “What Does Evergrande Meltdown Mean for China?” ↗About to tackle Princes of the Yen by Richard Werner. My wife just sent me a video of his: what I didn't know about central banking! TBH I'm shocked. Apparently we'd all be so much better if we had more local banks doing local lending…
on “Ask HN: What are you reading?” ↗…buying stocks. BOJ is not an inactive central banking institution. This doesn't even take into account the borderline conspiracy theories floating around on the way the BOJ exerts control(summed up by Princes of the Yen[0]). Could you explain a little more about why you think the BOJ's actions in the last like... 3 decades have somehow not "entered" the economy (which I don't think is synonymous with not affecting the…
on “CEO behind Japan’s best-performing stock says his secret is raising salaries” ↗Out of interest, what kind of copy do you have of Princes of the Yen? I looked a little while ago and could only find an extremely expensive second hand copy and a not very good quality pdf.
on “Ask HN: What are you reading?” ↗