Giant Robot Store and GR2 News
Will it drop prices if the Yen gains strength? No! (Bloomberg – Louis Vuitton Japan)
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It’s bad ass when your government can change the value of currency when it sees fit. The Yen was hitting record strength against the dollar. It hit about 75 and now it rests at 79. What happened? The government sold off Yen and bought dollars to strengthen it. Will it hold up? 79 is the best it’s been in a while and still a crappy number compared to the 110 and 120s that the US enjoyed for years. Ideally, we guess that 10000Yen should equal 100 dollars. Obviously the stronger the Yen, the harder it is to import anything into the US, which is at an all time difficulty.
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Fisherman who trawl for “stuff” at the bottom of the ocean found a bag containing $145,000 US worth of Yen. It was 11,000,000 Yen and it belongs to who knows… there was no info identifying the owner, who could have easily been swept out to see along with the money. If there are no rightful claims the fisherman keep the money. This brings up the honesty issue of some Japanese people. There is a question of how much doesn’t get reported. (Mainichi – Yen)
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