21. My Opinion: Latest news and current affairs in Japan and around the world by Peter Yonenaga

Now, let's talk about finance. That's the Fed's Term Repo numbers. Term Repo is a special loan from the Federal Reserve Bank of New York to a cash-strapped financial institution.

It is a special operation to lend money to those who cannot borrow money from others.

On September 14th of last year, there was a severe attack by Iran and the financial crisis started on Monday the following week. It has been continuing since then.

This time, after the end of the Spring Festival in February, the Fed's supply of liquidity has been enormous.

The crisis has deepened since the end of Spring Festival. I think China has come to a standstill, and various financial crises have emerged as a result.

Right now, banks are having a hard time, but funds are also having a hard time. There is talk of the Fed lending money directly to the funds.

Even Softbank Masayoshi Son, who is doing something called Vision Fund 2, is collecting less than half of the money.

It is written that it is less than half. While funds are getting funded, China is out. Chinese investors are also going to be cash-strapped.

Both Chinese investors and corporate managers need to raise funds. In that case, everyone will be selling. They have to sell what they can sell and raise money, and that's why they're buying gold and bitcoin for now.

They only accept gold and bitcoin. Because in the middle of real chaos, there's only so much you can sell.

When It's an unusual situation, there are only a limited number of items that can be sold even in a panic like the 911 incident.

What really sells then is gold bullion. It's actual gold. The futures market, you know, if the U.S. locks down, if the market stops, it won't sell anymore.

But real gold can be sold. Therefore, people have been buying the actual gold for the last time. If that's the case, it could be sold even on the last day of the world.

Recently, Bitcoin has been attracting attention. Bitcoin prices have gone up a lot. That's why people are fleeing to virtual currencies.

There is also the idea that the legal currencies should not be decided because the country is not sure what will happen. Among the legal currencies, yen and Swiss franc are rising.

When something happens, they buy yen and Swiss francs. But, well, if that goes on, the yen will become stronger in Japan, so everyone puts money in and stops it because of the weak yen.

Therefore, the only legal currencies left will be yen and Swiss francs.