By Dumping US Treasuries to Prop Up the Yen, Japan’s Foreign Currency Reserves Plunged by $95 Billion in August. But Don’t Cry for Japan. These Interventions Are Hugely Profitable
The government is already busy fighting over what to do with the $31 billion in profits on its foreign exchange interventions last fiscal year.
We haven't written up this one. Wolf Street has the full story — the link below goes straight to it.