Validation.
BOJ's total assets were 20% of Japan's total equity market in 7/2007.
It’s now 108%.
During that time:
Gold in JPY rallied 130% and stocks were barely up.
The Fed is in BOJ's 2007 position, but US stocks are absurdly more overvalued.
Buy gold & sell stocks. pic.twitter.com/CtDIj5PIkj
— Otavio (Tavi) Costa (@TaviCosta) April 26, 2020
https://twitter.com/hks55/status/1254179246173499393
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