The extraordinary account of how Japan’s most powerful institution, the Ministry of Finance, maintains tenacious control over the nation’s economy.
This first full-length expose of Japan’s all-powerful institution, the Ministry of Finance, not only reveals the inner workings of the Ministry but also sounds a warning about the impact of its growing abuses of power on world financial markets.
Japan’s Ministry of Finance – the mighty Okurasho – controls the majority of the country’s largest corporations, banks, and national financial institutions. Yet, it bows to neither Parliament nor Prime Minister. In effect, its actions can sway the Japanese economy and affect financial markets worldwide. The real danger lies in the fact that it has focused on nation-building at any cost, acting increasingly from pure unenlightened self-interest – as evidenced by its role in the recent Daiwa scandal.
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‘A timely work on how the Ministry of Finance is promoting the crash of Japan’s entire financial system.’
Kenichi Ohmae, author of The Borderless World
PETER HARTCHER’S BRILLIANT EXPOSE REVEALS THE ALARMING TRUTH BEHIND THE FACADE.
Japan is on the verge of a devastating economic collapse which would create chaos worldwide. The Ministry of Finance, once a vital asset in creating the economic superpower’s post war miracle , is now a dangerous liability, playing a key role in this financial disintegration.
The Ministry is a political, economic and intellectual force without parallel in the developed world. Claiming a divine right which supersedes elected governments, it enjoys a greater concentration of powers – formal and informal – than any comparable body in any other industrialized democracy. Orthodox economic theory, democracy, the judiciary and legal system, the media and foreign governments are all treated with contempt by the Ministry’s careerist bureaucrats.
In addition, it has borrowed pension savings to the value of 300 trillion yen (US$ 3 trillion)and used the money for, amongst other things, propping up the stock market. With no hope of paying back the full sum of this vast liability – four times the size of Japan’s annual budget – this is a time bomb waiting to explode.
“A timely work on how the Ministry of Finance is promoting the crash of Japan’s entire financial system”
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Book Description HARPERCOLLINS BUSINESS, 1999. Paperback. Book Condition: New. Bookseller Inventory # P110006388795