http://benjaminfulford.typepad.com/benjaminfulford/2009/08/28.html
8.28.2009
The Democratic Party of Japan, that is expected to take power after the August 30th elections, is likely to implode within a year if it does not announce a new financial system for Japan. The Japanese public is placing excess hope on the DPJ government and this hope could quickly turn to bitterness unless truly drastic reforms are carried out. The Japanese government has been de facto bankrupt for several years; so unless the DPJ announces a new financial system and a restructuring of the debt, they will not have the money to carry out their plans. Any half measures and timid reforms are likely to just make matters worse.
So, the only way for Japan to return to fast economic growth and prosperity is to carry out reforms at least on the scale of the Meiji reforms that led to the modernization of Japan. The first step would be to close most financial institutions temporarily in order to reboot the nation’s finances. Anybody with more than the １0 million yen covered by deposit insurance in the bank will find they have less money in their accounts when the banks re-open.
If the DPJ government fails to carry out the needed reforms, a right-wing nationalist government will replace it.
[Source: benjaminfulford.typepad.com]So, the only way for Japan to return to fast economic growth and prosperity is to carry out reforms at least on the scale of the Meiji reforms that led to the modernization of Japan. The first step would be to close most financial institutions temporarily in order to reboot the nation’s finances. Anybody with more than the １0 million yen covered by deposit insurance in the bank will find they have less money in their accounts when the banks re-open.
If the DPJ government fails to carry out the needed reforms, a right-wing nationalist government will replace it.
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