Japan's Conspiracy (51-1)
Japan's Conspiracy (51-1)
=== Insiders' Paradise ===
Japan is an insiders' paradise. Laws regulating insider trading have a variety of loopholes (See Note 1, 2).
=== Politicians' Assets ===
After the recent stock price crash, Justice Minister Kunio Hatoyama complacently said, "I lost four billion yen." In calculation, the total value of his stocks may be more than 40 billion yen. But according to the disclosure of his assets, he had 730 million yen of assets (See Note 3). What happened?
In fact, the disclosure of Cabinet ministers' assets does not include stock assets. And, since it is a voluntary disclosure, it has no credibility. In addition, politicians and bureaucrats are exempt from the insiders' regulation.
Japanese are always manipulated by the false information from the media. It is an open secret that politicians make money through short-selling of stocks.
=== Japanese-style collusion ===
Japan has a unique secret communication system. The information that stock prices will rise tomorrow is critical. But, even if a person knowing nothing about stocks says to a specialist, "I think stock prices will rise tomorrow," and the specialist buys and sells stocks accordingly, nobody suspects their insider trading. There is the Japanese-style collusion here.
There was a typical collusive insider trading scandal in 1991. Financial dealers made Nui Onoue, a landlady of a high-class restaurant, into a fortuneteller and used her for their insider trading (See Note 4). Many investors and bank officers visited her and listened to her divine prophecy. She was actually the mentor on the bubble economy. In the end, she repudiated her 430 billion yen debt to the banks. It was unusual to lend such inordinate amount of money to an individual, but the recipe for insider trading took root in Japan at last.
Now, there is no need for such a fortuneteller. Stock dealers can communicate with their counterparts. Some dealers are in the center of critical information. They win all the time, and others simply know that. All the dealers follow the winning dealers. Those winning dealers do not always participate in the dealing. They participate when they are needed.
But once they appear in the stock market, the information spreads among dealers immediately. That's enough.
Unfortunately, such dealers are usually promoted faster. In Japan, nowadays, most of the specialists, such as financial directors, financial managers and chief dealers are such people.
ツ?ヲ You are the person who judges whether my comments are true or not.
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Insider trading
Insider trading - Wikipedia
---------(Note 2)------------
Financial Products Exchange Law
(Japanese)
http://law.e-gov.go.jp/htmldata/S23/S23HO025.html
---------(Note 3)------------
Hatoyama richest among 18 members of Fukuda's Cabinet
Breitbart News Network
Kunio Hatoyama
Kunio Hatoyama - Wikipedia
My brother and I lost 8 billion yen.--Hatoyama
(Japanese)
http://hochi.yomiuri.co.jp/topics/news/20080123-OHT1T00073.htm
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Restaurateur in bubble-era bank fraud faces 15 years
Japantimes, July 7, 1997
http://search.japantimes.co.jp/cgi-bin/nn19970707a6.html
Business Notes Scandal
TIME Aug. 26, 1991
http://www.time.com/time/magazine/article/0,9171,973677,00.html?iid=chix-sphere
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