Read on Twitter
Everyone of us knows the stupid tale. That one the day the peaceful (to a fault) Germans just out of the blue decided to deathly hate a specific group of people, âfor no reasonâ, overnight.
It is equally stupid that Japan just up and decided to attack America for no reason...
It is equally stupid that Japan just up and decided to attack America for no reason...
October 10, 1882.
The Nippon Genko, or State Bank of Japan, was established. While the Imperial household was its largest shareholder, it still functioned as a central bank. That is, to the benefit of other (smaller) private banks, to the detriment of the Japanese people.
The Nippon Genko, or State Bank of Japan, was established. While the Imperial household was its largest shareholder, it still functioned as a central bank. That is, to the benefit of other (smaller) private banks, to the detriment of the Japanese people.
Prominent engineer and pioneer of the âsocial creditâ economic reform, C.H. Douglass, went on tour in Japan in 1929. There, he proposed the government be allowed to create a national currency and provide credit, free of interest...
Leaders of Japanese govt and industry enthusiastically approved.
Douglasâs ideas were so well received that all his books were translated to Japanese; and more of his work has been sold there than any other country.
Douglasâs ideas were so well received that all his books were translated to Japanese; and more of his work has been sold there than any other country.
In 1932, the Nippon Genko began to reorganize into a truly state-ran bank.
By 1942 the restructuring was complete, when the âBank of Japan Lawâ was established; modeled after Germanyâs Reichsbank Act of January 1939.
The Nippon Genkoâs operations were now as follows:
By 1942 the restructuring was complete, when the âBank of Japan Lawâ was established; modeled after Germanyâs Reichsbank Act of January 1939.
The Nippon Genkoâs operations were now as follows:
âThe Bank was to be a corporation of strongly national nature...As for the functions of the bank, the law abolished the old principle of priority for commercial finance, empowering it to supervise facilities for industrial finance. The law also authorized the Bank to make...
â>
â>
âunlimited advances to the government without security, and to subscribe for and to absorb government bonds. In respect of note issues, the law made permanent the system of maximum issues limit; the Bank could make unlimited issues to meet the requirements of munitions..
â>
â>
âindustries and of the governmrnt. Governmrnt supervision of the Bank was stregenthed. The governmrnt could nominate, superintend, and guve orders to the president and directors. There was also a clause giving the governmrnt more comprehensive powers to give âfunctional orders..
âto the bank, to direct it to perform any function it deemed necessary for the attainment of the Bankâs purpose; moreover, the Law made a wide range of the Bankâs business subject to governmrnt approval; such matters as alteration of bank notes, note issues, and accountsâ.
So what does all that have to do with anything? Like much of the world, Japan suffered heavily from the (artificially created) Great Depression.
After reforming the Bank and throwing off usury completely, Japanâs manufacturing output increased 140%...
After reforming the Bank and throwing off usury completely, Japanâs manufacturing output increased 140%...
Industrial production increased 136%, national income and Gross National Product were up 241% and 260%, respectively.
By the late 1930s Japan had become the economic superpower of East Asia; and its exports were replacing those of America and England.
By the late 1930s Japan had become the economic superpower of East Asia; and its exports were replacing those of America and England.
The Datsun automobile was to sell for less than the lowest priced US or UK cars, and was soon to be on the market in India, Czechoslovakia, and Great Britain.
(Pictured is Prince Chichibu, brother of Emporer Hirohito, sitting im the car).
(Pictured is Prince Chichibu, brother of Emporer Hirohito, sitting im the car).
And now we get into a more tumultuous time of the period, where there will be much more things to talk about in the near future.
But for now, by 1939 relations with America were rapidly deteriorating, particularly since USA unilaterally abrogated the 1911 Treaty of Commerce...
But for now, by 1939 relations with America were rapidly deteriorating, particularly since USA unilaterally abrogated the 1911 Treaty of Commerce...
Which restricted Japanâs ability to import essential raw materials.
Furthermore, an embargo on aviation fuel in 1940, and a ban on the export of iron and steel to Japan happened in the same year. July 25, 1941, all Japanese assets in England,Holland, and America were frozen.
Furthermore, an embargo on aviation fuel in 1940, and a ban on the export of iron and steel to Japan happened in the same year. July 25, 1941, all Japanese assets in England,Holland, and America were frozen.
After Japan had (peacefully) occupied Indochina, with the permission of Vichy France (to block off Chinaâs southern supply routes)
At the same time FDR closed the panama canal to all Japanese shipping, and enforced a rubber and oil embargo...
At the same time FDR closed the panama canal to all Japanese shipping, and enforced a rubber and oil embargo...
This resulted in a supply loss of 88%. Without oil Japan could not survive.
Now I end this thread as itâs long enough already, and weâre just entering into the beginning of ww2. Here I talked about all the âin the meantimesâ that occurred with Japan just before, more to come.
Now I end this thread as itâs long enough already, and weâre just entering into the beginning of ww2. Here I talked about all the âin the meantimesâ that occurred with Japan just before, more to come.
