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The story
On September 8, US Treasury Secretary Bessent, speaking at an event at a university in Texas, referenced the coordinated yen-buying intervention carried out by Japanese and US authorities in late July and declared, “I am the House.” He also said he holds “asymmetric information” about the moves of the Bank of Japan and Japanese policymakers, and taunted speculators betting on selling yen to buy dollars: “If they want to challenge me, go ahead.” On the thread, opinions split over whether translating the original English phrase “I am the House” as “胴元” (“the house,” i.e. the casino operator who always wins) was accurate, and over just how effective this kind of verbal intervention really is.
[Dallas, Kyodo] US Treasury Secretary Bessent said on the 8th, regarding the coordinated yen-buying intervention carried out by Japanese and US authorities in late July, “I am the House (who knows the Japanese side’s moves inside and out),” warning off speculators looking to sell yen and buy dollars. He made the remarks at an event held at a university in Texas.
Bessent said, “I have asymmetric information,” suggesting he has access to information ordinary market participants don’t. He stressed, “When we intervene in the yen market, we have a pretty accurate read on how the Bank of Japan and Japanese policymakers will move.”
He then taunted speculators, saying, “If [market players who keep selling yen] want to keep at it, they’re welcome to take me on.”
出典: news.yahoo.co.jp / Original article here
What people said
I wish I could say a line like that myself 💰
That's peak chuunibyou energy lol (chuunibyou = delusions-of-grandeur "edgy middle schooler" syndrome)
Is the US military gonna snatch Takaichi like it did in Venezuela?
Trump might actually pull something like that, so maybe that's exactly why Bessent's the one stepping up front?
Ah, so Bessent's actually protecting Takaichi.
Re: #69
The LDP: "We racked up debt and gambled it all away, and it didn't pan out."
Even if it's for America's own convenience, it still beats the fire-sale-Japan dump policy that plays right into certain people's hands
[as opposed to] pork-barrel budgets built for skimming and kickbacks.
I thought Bessent was pushing a "strong dollar" line — did Trump chew him out over it?
If he's so worried about US rates rising, tell your boss to stop starting wars.
"Strong dollar" doesn't mean "a rising dollar," you know.
I'd guess he doesn't actually want to do real coordinated intervention (dunno why), so he's leading with jawboning first.
lol
"The market's reacting so sensitively to a rate hike that hasn't even happened!" lol
what a happy little world lol
But last time around he clearly didn't want to keep intervening.
He said so outright, which made me think "is Bessent an idiot?"
If he's changed his mind since then, good for him I guess.
The crushing fiscal burden of social security spending means
if they cut taxes, rates rise or the weak yen pushes prices up, squeezing the working generation,
and if they don't cut taxes, the working generation's income gets extracted like under the old "five parts to the lord, five parts to the peasant" tax system, squeezing them just the same.
Elderly people whose healthy lifespans have stretched out, who could work but don't, living off social security while gallivanting around on trips —
they're the modern-day nobility, the modern-day court aristocrats, the modern-day feudal lords.
People like them are exactly why social security never reaches those who truly need it,
while the working generation keeps getting squeezed under that same old 50/50 system.
The working generation should be raising their voices against these modern-day feudal lords.
Where's the hidden acrostic supposed to be?
That's a pretty weak attempt lol
Nobody's out there gallivanting around on pension money alone. It's pension + a massive pile of assets.
Well, Takaichi's aggressive fiscal spending plan died before it even got started.
They're still sitting on plenty of unrealized gains.
Should be fine even down to 145 yen.
So you'd better brace yourself.
The original English was "I am the House!" How does that turn into "私は胴元" (I am the bookmaker)?? Not that I'm a native speaker or anything.
People who just started their monthly contributions at 160 yen are gonna see their very first buy wiped out.
I think you should wait for the yen to strengthen before buying, but who knows how far it'll go.
No way it drops below 100 yen though, surely.
what does "the house"
even mean
in the forex market?
That's way too big a stretch.
What matters in the end is the underlying fundamentals.
Coordinated intervention, jawboning — none of it means a thing.
How is it "just jawboning" when it dropped all the way down to around 152 [yen to the dollar] lol
That's just him following through on his word.
Did you know?
The dollar is the world's reserve currency.
Let that sink in.
Though it seems a stronger yen would hurt the economy…
If you don't get why this is hilarious, you've been poisoned by the Bank of Japan, the financial establishment, and the old media!!
Yoichi Takahashi (Kaetsu University)
@YoichiTakahashi
Mr. Bessent, wouldn't it be smarter to just go along with what Trump wants instead of demanding Japan hike rates lol → "September rate hike now the frontrunner as Trump insists 'I won't allow high rates,' leaving the Fed chair caught in the middle"
Poor Bessent — his boss Trump just shot down his own remarks, so now he's got tears in his eyes.
If you don't get why this is hilarious, you've been poisoned by the Bank of Japan, the financial establishment, and the old media.
x.com/YoichiTakahashi/status/2095991927342784786
x.com/YoichiTakahashi/status/2095997123791896997
x.com/YoichiTakahashi/status/2096021208479494434
Huh?
If the US cuts rates,
the pressure on Japan to hike eases up,
making it easier to head toward a stronger yen, no?
Already rumored to have gone missing.
Background and Key Points of the Debate
These remarks stem from the coordinated yen-buying intervention that Japanese and US authorities carried out in late July. Currency intervention comes in two forms — “actual intervention,” where dollars are actually sold and yen bought, and “verbal intervention,” where officials merely try to sway market psychology through statements — and the thread’s discussion split largely along this line. The original English phrase “I am the House” is an idiom referring to the operator/bookmaker side of a casino, and whether translating it as “胴元” was even appropriate became a debate of its own. Meanwhile, part of the discussion tied the remarks to Japan’s domestic fiscal and monetary policy debates (such as the Takaichi administration’s active-fiscal-spending stance), but this is easy to misread: Bessent’s comments simply reflect the US Treasury’s stance toward the yen, on a separate axis from any judgment on Japan’s domestic policy itself. Also worth noting: the specific exchange-rate levels floated in the thread — 152, 160, and 145 yen — are individual posters’ personal market views, not facts reported in the article.
※This article is compiled as an excerpt/summary of the 5ch (Breaking News Plus) thread “US Treasury Secretary Bessent: “I’m the House” — Warning Shot at Yen Speculators.”
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