Bank of Japan Announces Open Ended Direct Monetization

While in reality the Fed is the market for US debt via QE∞, there is at least a thin line between the Fed’s indirect monetization of the US debt/deficit, the Bank of Japan has obliterated that thin line, announcing open ended direct monetization of JGB’s, beginning with 13 trillion in JGB monetization in January 2014

Welcome to the start of full-blown currency wars. 

Full announcement is below:

SD Bullion
h/t ZH

BoJ1 by

BoJ2 by