Hello, fellow Rebel capitalists, hope you're well.

So I wanted to give you a quick report on the Japanese banks.

Everyone's been talking about the Yen Carry Trade,

but I think there's much more to the story

than what the mainstream media would lead you to believe.

At the very least we've got massive, massive volatility of the market down called

1200 points a thousand points yesterday, up 5, 600 points today.

This is what you typically see in a bare market.

But let's get over to a report from the Wall Street Journal because as we know the devil is in the

details and there's a lot more going on underneath the surface. So let me point out what I'm referring to here first and

foremost. We've got this story right here. Japanese bank stocks missed record Nieke rebound. So let's go back to Monday, Japan time. The market

was down like 10 or 12 percent. It was one of their biggest down moves in history in history which would include Black Friday

or excuse me Black Monday back in 1887 and so this is almost an unprecedented move.

But what was most shocking was the banks.

So this is the bank index in Japan or actually this is a chart of some of their main banks and you can see the increase since September of 2023 and these banks have gone

higher and higher now the argument is they've gone higher because they were

expecting the BOJ to increase rates, which would,

we're going to call it steepen out the oatmeal.

That's a stretch in Japan.

Or is it pretty much flat as a pancake.

But what make it more steep and the argument there was, okay,

it's gonna be great for the banks because they make money

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