Japan's government moves to intervene in the yen

[RoyalCardMan]

For the third time in a year, Japan's government has intervened in the yen caused by the recent tsunami that hit Japan. The minister of finances, Yoshihiko Noda, says, "While Japan is dealing with the reconstruction of the tsunami zone, if the surging of the yen continues, it could negatively affect Japan's economy and financial stability".The Bank of Japan responded to the move in a press release, saying that it "strongly expects that the action taken by the Ministry of Finance in the foreign exchange market will contribute to stable price formation in the market."Japan's economy, still struggling after the March 11 earthquake, tsunami and nuclear crisis, has been hit hard by the falling U.S. dollar. Uncertainty by global markets over the U.S. debt deal caused the dollar to plummet versus the Japanese yen, a currency seen as a safe haven by investors.Japanese automakers and electronics companies have seen the currency shift eat into their corporate profits as the dollar has sunk. Japan's exporters operate on the global market with the U.S. dollar, but then repatriate the funds to Japan in yen. JP Morgan Japan estimates corporate profits have fallen approximately 5% in the last six weeks as the U.S. dollar has plummeted.

Source

Please don't tell me this will have an affect on the prices of Nintendo products.

 

[emigre]

I'm more about concerned the global economy and the effect it will have on the man on the street.

 

[Nathan Drake]

This is what you get for making a dependence on something as unstable as the dollar of another country, which itself was dependent on the instability of oil.

 

[RoyalCardMan]

Well, I was especially counting on getting a Nintendo 3DS for a lower price, but if their economy gets worse, I think they may raise the prices.

 

[Densetsu]

I saw this article earlier today. It sucks because some of my classmates and I are planning a trip to Japan to help the homeless tsunami victims this winter.

The strong yen will turn my USD into chump change

 

[RoyalCardMan]

I saw this article earlier today. It sucks because some of my classmates and I are planning a trip to Japan to help the homeless tsunami victims this winter.

The strong yen will turn my USD into chump change

Now I feel guilty.

 

[geminisama]

Well, I was especially counting on getting a Nintendo 3DS for a lower price, but if their economy gets worse, I think they may raise the prices.

That's what you left the article with? Concerns about getting a god damn price drop on a console, when their future is at stake? Oh my...

 

[RoyalCardMan]

Well, I was especially counting on getting a Nintendo 3DS for a lower price, but if their economy gets worse, I think they may raise the prices.

That's what you left the article with? Concerns about getting a god damn price drop on a console, when their future is at stake? Oh my...

That is why I said I feel guilty now.

I pray for Japan. Everbody, pray for Japan.

EDIT: Maybe we could start donations for Japan on GBATemp.

 

[Nathan Drake]

Well, I was especially counting on getting a Nintendo 3DS for a lower price, but if their economy gets worse, I think they may raise the prices.

That's what you left the article with? Concerns about getting a god damn price drop on a console, when their future is at stake? Oh my...

That is why I said I feel guilty now.

I pray for Japan. Everbody, pray for Japan.

EDIT: Maybe we could start donations for Japan on GBATemp.

Japan has received many donations already, and donations are still open for relief if you look in the right places. I believe that likes of the Red Cross keep donation spots open on their website for ongoing issues.

Really though, donations won't stop a country from entering economic troubles unless people have a few billion dollars to donate (change that number depending on the value of your currency).

 

[Vulpes Abnocto]

Well, I was especially counting on getting a Nintendo 3DS for a lower price, but if their economy gets worse, I think they may raise the prices.

That's what you left the article with? Concerns about getting a god damn price drop on a console, when their future is at stake? Oh my...

That is why I said I feel guilty now.

I pray for Japan. Everbody, pray for Japan.

EDIT: Maybe we could start donations for Japan on GBATemp.

Already suggested.

 

[Densetsu]

EDIT: Maybe we could start donations for Japan on GBATemp.

I'd be all for that, but I'm not sure how it would work out. Who would handle all the cash and send it to the NPOs? I think a more viable solution would be to just donate to existing facebook pages (or something similar if you don't use facebook) that have already been set up to collect donations.

 

[Oveneise]

Well... This isn't a good situation. Lets hope Japan makes a speedy recovery!

 

[RoyalCardMan]

Well, I was especially counting on getting a Nintendo 3DS for a lower price, but if their economy gets worse, I think they may raise the prices.

That's what you left the article with? Concerns about getting a god damn price drop on a console, when their future is at stake? Oh my...

That is why I said I feel guilty now.

I pray for Japan. Everbody, pray for Japan.

EDIT: Maybe we could start donations for Japan on GBATemp.

Japan has received many donations already, and donations are still open for relief if you look in the right places. I believe that likes of the Red Cross keep donation spots open on their website for ongoing issues.

Really though, donations won't stop a country from entering economic troubles unless people have a few billion dollars to donate (change that number depending on the value of your currency).

Good point I would have to say.

With the economy so bad, how are USD donations going to help?

 

[stanleyopar2000]

oh oh. NEW WORLD ORDER FTW!

 

[Schlupi]

Well, I was especially counting on getting a Nintendo 3DS for a lower price, but if their economy gets worse, I think they may raise the prices.

That's what you left the article with? Concerns about getting a god damn price drop on a console, when their future is at stake? Oh my...

That is why I said I feel guilty now.

I pray for Japan. Everbody, pray for Japan.

EDIT: Maybe we could start donations for Japan on GBATemp.

Japan has received many donations already, and donations are still open for relief if you look in the right places. I believe that likes of the Red Cross keep donation spots open on their website for ongoing issues.

Really though, donations won't stop a country from entering economic troubles unless people have a few billion dollars to donate (change that number depending on the value of your currency).

Good point I would have to say.

With the economy so bad, how are USD donations going to help?

The USD is NOT that shitty to worry about that. Our money being donated to groups (like Red Cross, etc.) goes towards them buying food and supplies, anyways, the people they help don't just receive wads of cash.

 

[RoyalCardMan]

Yes, I guess your right.

I might use my software to get donations for Japan.

 

[LightyKD]

oh oh. NEW WORLD ORDER FTW!

Wolfpack in da house beotch!!!

Sorry. Couldn't resist!