The Bank of Japan failed to announce any new policy initiatives today. The reasons are financial and political.

From a financial perspective, the Bank of Japan is well aware that its current tools cannot and will not generate sustained GDP growth. Bank of Japan head Haruhiko Kuroda implicitly admitted back in January that regardless of what he does, Japan has “potential growth rate of 0.5% or lower.”

That is a HECK of an admission by a Senior Level Central Banker.

Some interesting, and accurate, thoughts in this morning's edition of Bill Blain's "Morning Porridge", who - despite calling this website a "tabloid" in the past - now agrees with what we have claimed all along for the past 7 years. 

* * *

Mint – Blain’s Morning Porridge  September 21st 2016

After a “comprehensive” review of monetary policy, The Bank of Japan has introduced a new package, including QQE – which boils down to managing the steepness of the yield curve.

Amerika’s Killer Cops Can’t Stop Murdering

https://www.rt.com/usa/360133-sacramento-police-shooting-mann/

Perhaps the idiots who call police on unwell people should be arrested as partners in murder.

The post Amerika’s Killer Cops Can’t Stop Murdering appeared first on PaulCraigRoberts.org.

Over 700,000 people have petitioned the U.S. Department of Justice to block three proposed biotech mega-mergers. This includes the merger of chemical and pharmaceutical giant Bayer AG and GMO specialist Monsanto, responsible for creating Agent Orange, PCBs, Roundup (glyphosate) and other toxins.

Gold and silver are surging this morinng after BoJ's disappointment as a stronger yen weighs on the USD index. Heavy volume has lifted Gold off key technical support and silver through a major technical resistance...

Gold bounces off its 100-day moving-average...

And Silver breaks above its 50-day moving average...

With Silver testing up towards $20...

And gold a significant surge post-BOJ...

BoJ policy error? Or pre-empting Fed disappointment?