Today, the new Japanese Minister of Finance, Naoto Kan, placed a press conference for the first time after he started this role.
Naoto Kan said that 95JPY to 1 dollar is the right level for Japanese yen. It’s not such a surprising word but I’m really amazed by the speed of time of ours.
Some years ago, Japanese Yen was around 120 yen to 1 US dollar. Now it’s nearly 90 yen to 1 dollar. Of course, 95 JPY is better than 90 yen for exporting business of Japan, but still really high currency rate for my memory.
Some critics say that US dollar will be going down more in a few years and it will be around 50 to 60 JPY to 1 dollar.
If this happens, Japanese exporting industry will be damaged deeply and they will have to change their way of business without any hesitation. Otherwise, they can’t live in this period of time.
BUT, more than the Japanese companies situation, if that happens, it means US dollar will be withdrawing from the time of NO.1 world currency. In that weak dollar situation, no more people in the world would not believe the power of US dollars.
Which currency will be the next ? Chinese Gen or Euro ?
Anything is not that different. Maybe the best choice is the end of the monetary economy. Then people will be released from life time labour for virtual value, the Money and the interest.
It will be a hard time from now, but this change might release is from the pain of aimless labour just like death releases people from pain of mind.
