Hiroyuki Nishimura, 45, a businessman and founder of 2chan, updated his Twitter account on 1 January. He developed a theory about the government and the Bank of Japan’s intervention in buying the yen.
Citing news that 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, Hiroyuki said: “If 10 million yen is distributed to every child born in 2021, the amount is 8.1 trillion yen. If we had 6.3 trillion yen, Japan would have had a better economy…”.
He continued, “6.3 trillion yen worth of foreign exchange intervention. if you sell 1 USD at 140 yen, you give USD 45 billion in foreign currency and get 6.3 trillion yen. if you put USD 45 billion back, the extra money is profit. if you buy USD 45 billion at 148 yen per USD, you need 6.6 trillion yen.
To restore the foreign exchange reserves, we need to pay 300 billion yen more”, he explained, and then dismissed the foreign exchange intervention as “a loss, not a profit”.
I hope they will distribute the money to the people.