... and in Other News, China Threatened to Poke Themselves in the Eye With a Stick

There's something unintentionally hilarious about this bit of news.

Dec. 18 (Bloomberg) -- The yen fell from near a 13-year high against the dollar and tumbled versus the euro after Japan’s government signaled it may intervene in the foreign- exchange market for the first time in four years.

Finance Minister Shoichi Nakagawa said he has “the means” to limit the yen’s advance ...

As everyone is racing to print untold billions of dollars worth of their currency, Japan is warning us that it's putting on its track shoes and warming up to enter the race to Zimbabweization of their currency. No one wants to be the only one with a strong monetary system so everyone (save the Germans* and the Aussies) are taking steps to destroy their own.

That's not going to end well.

* - Unfortunately for the Germans, they dumped the Deutschemark and moved to the Euro about 10 years ago. This effectively ties them to Italy, Greece and Spain, all of whom will soon be defaulting on massive loans. Losing control of your currency is not good.