Toshio Matsuda, Commentator & Intl Economist

Straight from the Shoulder No.665

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August 15, 1945−Victory over Japan Day!

After the United States dropped atomic bombs on Hiroshima and Nagasaka on August 6th and August 9th respectively just a few days prior, Emperor Hirohito announced Japan’s acceptance of the terms of the Potsdam Declaration over a radio broadcast on August 15th, 1945 which led to the nation’s unconditional surrender to the Allied powers. From that time until April 28, 1952, when the Treaty of San Francisco went into effect (officially signed by 48 nations on September 8, 1951), Japan was placed under control of the General Headquarters of the Allied Forces (GHQ) lead by General Douglas MacArthur, Supreme Commander of the Allied Powers (SCAP).

August 15, 1971
President Nixon suddenly ends the direct convertibility of the dollar to gold, which had been fixed at $35 per ounce. From that time to the present, the United States has been able to freely issue its own currency that is not backed by gold. This has caused the world’s economy to bubble and burst many times over.

August 15, 2011
This is the settlement date on which the United States is required to make interest payments on more than 50% of its total debt created by borrowing money from Japan and China, nations that currently serve as America’s “banks.” It will be impossible for the United States to make these interest payments if US Congress does not authorize a new government bond issue of more than $200 trillion dollars, serving as an accommodation bill.

Japan has changed from a country dominated by the United States, losing its sovereignty on August 15, 1945, to a country that serves as its former dominator’s creditor. If the United States cannot make interest payments to Japan, then we can say that Japan has the right to seize and auction off the United States. Despite this, I wonder just how many Japanese are proud of Japan and feel a sense of superiority over the US.

Wake up Japan!