Hiroyuki Nishimura (45), aka Hiroyuki, an entrepreneur and founder of the internet noticeboard “2channel”, updated his Twitter account on the 1st. He quoted from a YouTube news video distributed by Teletext BIZ on 31 March, titled “Yen buying intervention 6.3 trillion yen, largest ever [WBS]”, and expressed his personal opinion on the issue.
On the same day, Hiroyuki said on Twitter, as quoted, “If 10 million yen is distributed to every child born in 2021, it will be 8.1 trillion yen. Yen buying intervention ¥6.3 trillion gone in one month.” He then developed his own theory: “If we had ¥6.3 trillion, Japan’s economy would have improved even more…”.
The Ministry of Finance announced that the amount of foreign exchange intervention by the Government and the Bank of Japan in October was 6.34999 trillion yen. This was the largest one-month intervention to buy the yen in history, and although the Government had not disclosed its foreign exchange intervention since October, the “undercover intervention” to buy the yen has now been revealed, bringing the total amount of intervention during the yen’s weakening phase due to the widening interest rate gap between the US and Japan to 9.8 trillion yen. The total amount of intervention during the yen’s weakening phase due to the widening interest rate gap between Japan and the US was 9,188.1 billion yen in total since September. A video reporting on this in detail also attracted Hiroyuki’s interest.
If 10 million yen is distributed to every child born in 2021, the total is 8.1 trillion yen.
Yen-buying intervention of 6.3 trillion yen disappeared in one month.
With 6.3 trillion yen, Japan would have had a better economy.