Chidoriashi said:
I know it is not really good for the Japanese economy, but I love sending money (yen) back home to my American bank account these days.
I think you'd be better off converting those $'s into silver. I started purchasing it at $13/oz and am glad I did. Besides, it's still a bargain at $47/oz. Many are predicting $50 -$100/oz as the US economy and $ weakens.
Uncle Frank said:
I felt rich while stationed in Japan during 1970-1972 when one US dollar got you 360Y.
When I got there in '73 it was a fixed $300/$ and then a year or so later it started to float. Still I felt rich also.
Armand V said:
That's the only upside. When I was in Japan in December, I didn't spend all my yen. I traded back about 20,000 yen and got $230 for it.
Remember a few years back when yen was 124/$. I posted here on JREF that those that could afford it should stock up as it will definitely reach 80/$. Many thought I was nuts, but I am smiling today as I still own it and can't imagine purchasing it at today's prices. I'm glad I found a bank where I could purchase yen (or any currency) and keep it in a savings account.
As the dollar gets weaker with the massive debt, the non-stop spending by both houses of congress, and the "printing" of more money (i.e. Quantitative Easing) I can't see how any average American could afford a trip to Japan.
Japan will probably sell some T-Bills to help pay for their rebuilding. (I wonder if that's why Hilliary was in Japan last week begging Japan to not sell too many?) As they, and the Chinese get rid of them the $ has nowhere to go but down as only the FED will be buying them.
Unfortunately, the debt ceiling will be raised and the 'drunk sailor" spending will continue until we are finally brought to our knees and defaulting on our massive debt.