Forecast 3/27/23 - The End of Kuroda in Japan
Airplanes, and Transexuals come from the same place
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All times in this update are in US Central time (UTC-6 clock).
Song of the Week - Sam Fischer - This City (Screwed & Chopped)
Half of these views are mine, lol.
Table of Contents
The Western Rejection of Fate
Economic Calendar
Everything we ignored Last week
Swiss National Bank
Royal Bank of Australia
Bank of England
The French are rioting… again
Kuroda’s Last Speech as BoJ head
Kuroda’s Replacement
Crypto Macro
Price Action
zkSync Launch
Conclusion
Internal References
1. The Western Rejection of Fate
In the west, we are told we can be anything we want. We are rarely told that the circumstances of our birth were beyond our control and we only have a limited set of options. Consider how alien such things as the Hindu caste system are to you. A certain responsibility lies within every caste, whether you were born a Dalit and were meant to clean sewers or a Brahmin and were destined for the priesthood.
Western media is awash in rejection of tropes, rejection of self, and rejection of any label. I try to avoid politics here, but we must talk about western politics briefly here in order to make sense of Section 4.
Ask any leftist if they think women can compete with men in strength, endurance, or speed. They will tell you of course they can. To state that someone may be limited by the consequences of their birth is anathema to the American spirit.
The progressive is the spiritual embodiment of American culture taken to its logical endpoint when applied to political theory.
You can be anything here. Truly
That this is happening is not women’s fault, they are victims of the endless steamroller of American culture. Under the skin, men and women have many key differences that can’t be undone even with hormone therapy. But our society has such a deep aversion to fate, that even such basic truths have become points of debate. In some sense, our inability to accept our fate can be considered a strength. It’s not a coincidence that flight was invented by Americans in America, and not in another country. Even to become an American is a rejection of the blood of your ancestors. We were the only ones who thought we deserved to be in the sky. We couldn’t accept our place in the dirt. If not you, then your ancestors similarly could not accept their place in the dirt, and rejected it to become Americans instead. Similarly, we believe we are born in the wrong bodies, and reject this. We believe the Gods are wrong about everything. If Kuroda was an American he might never have done his doomed Kamikaze dive with the Yen currency. He might have adapted to the times or even come to believe he was meant to change Japan’s trajectory.
You might read the above paragraph and think I am against this cultural strain of the west. I am not, I am simply observing. You might be captured by the thought that we can get rid of one-half of our inability to accept fate while keeping our inventiveness and ingenuity. This thought in and of itself is a western thought that comes from the same place as the idea that one is born in the wrong body. It’s a wish to change one immutable part of yourself and to keep the rest. We can get rid of transgenderism, but we will most certainly lose our ingenuity alongside it. They both come from the same place. “You can be anything,” is a double-edged sword. One must see the blade pointing towards oneself before one can hope to ever wield it effectively.
If we had never flown, we might not have men competing in women's sports. Would you give up your seat on the jet? Are you willing to go back to that world? Many people similarly think they can change the bad parts of their partners. The parts of this person that you dislike, undoubtedly stem from the same place that the things you love about them come from. Maybe your partner is shy and introverted, and you want them to be more assertive in social situations. But have you ever considered that you are taking their loyalty to you for granted? You push them out into the wider world and they might not come back. Which do you value more? Hopefully, you thought about it before trying to change them. There are no easy changes when it comes to people, and certainly not when it comes to society.
People who do not think about what a country means often think that just because America accepts immigrants, they can go to others places and be an immigrant. America is a place for people to reject the place of their birth. It’s not surprising then that Americans are rejecting American culture. This is the most American thing an American can do. The Old World exists for people who wish to accept the place of their birth. Listen to the interviewer above, “You will never be Japanese.” Duh. Yet if you have never thought about what the New World is in comparison to the Old World, this idea comes as a shock.
Anywhere you look, you can find an American rejecting what someone from another country would happily accept. All strengths are weaknesses when seen in a certain light, and vice versa.
2. Economic Calendar
Refer to the Economic Calendar Settings Post for filter settings used as well as a link to the site I prefer to use for this calendar.
It’s a slow news week compared to last week, but there’s a lot to speak about in the spaces between.
A topic I’ve mostly ignored this year has been the developments in Japan for their new head of the BoJ and the impact it will have on global bond markets. I’ve been watching it develop and a successor was finally chosen while I was snowboarding earlier this month.
This week we’ll be focusing a lot of discussion on who he is, what his thoughts are on the markets, what the future decision-making of the BoJ under him will look like, and how this will impact global markets and outlooks for western asset prices in the future.
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