Okay, let me continue.
A graph that explains everything
In the graph we can see the overall asset purchases by central banks (where the BoJ - The Bank of Japan, Fed - Fed, ECB - European Central Bank, EM - banks in developing countries, SNB - Swiss National Bank). So who are aggressively buying up everything, when everyone else is selling? The ECB and the Bank of Japan (the red and the blue area in the graph). Why do they need it? Why both banks so aggressively releasing more and more liquidity in the market, by declaring all large programs QE (quantitative easing), rising asset prices all to greater heights?
About Deutsche Bank we already know, it is time to deal with Japan.
Japan tsunami
Imagine for a moment that you just can not get out of the crisis for many years. Prices of goods in your country do not grow, and inflation is at a minimum. In a country with a stable currency, a strong business, a budget surplus and low debt burden, deflation may even be useful, including for consumers and competition.
However, this is not the case record overextended countries like Japan. Due to the fact that your citizens are disciplined like robots and actively invest their savings and pensions are in your state bonds, you release a sea of debt permanently and can theoretically do this forever, blowing more and more credit bubble. But all this does not work, prices are not rising, inflation is close to zero, and then suddenly, for no apparent reason the country falls into deflation, revealing all the monstrous debt load and increasing the volume of bad debts.
Imagine that, knowing this, you urgently arrives architect "helicopter money", Ben Bernanke, and you start them at home.
Now, any bank, any company must pay you for what you give them the money return on government bonds in 10 years. Yes, that really there, for what keeps the money in your correspondent accounts.
All anything, but there is one problem - the boundless release the money does not create inflation, how would you like it or passing devaluation, and you deeper and deeper lumps deflationary spiral, destroying our economy. And the deeper the spiral, the more you release the money and debt, the lower the value of the assets, the greater the revaluation of collateral creates more and more toxic debt.
At the last meeting of the G7, Japanese Prime Minister Shinzo Abe said that the world is on the verge of financial collapse, a hair's breadth reminiscent of the days before the collapse of Lehman Brothers. Perhaps he still knows he's talking about.