The other day, economic statistics came out of Japan - it turns out that the Japanese economy contracted 6.3% for the 4th quarter of 2019. And this is before the economic collapse in the Asian region caused by coronavirus in January 2020. The reason for the reduction of the Japanese economy: the government raised the tax on consumption from 8% to 10%, in order to cover the costs of servicing your debts. Recall that Japanese sovereign debt is 300% of GDP, while 40% of government debt securities are on the balance sheet of the Bank of Japan. Moreover, the Bank of Japan balance sheet (over 550 trillion euros - the equivalent of over 5 trillion US dollars) has already exceeded the country's GDP. That is, the national bank "printed" more money than Japan's GDP. Of course, this devalues ​​the confidence in the Japanese yen itself, and one should not be surprised that the price of gold in yens daily breaks historical records.