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2012 | nr 1 (4) | 95--111
Tytuł artykułu

International Gambling Speculation at Crisis - Analysis of Skyrocketing in the Value of Japanese Yen after Two Large Earthquakes in Japan

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Since the finish of the Cold War in 1989 the doctrine of free markets has been prevalent, under which the international gambling speculation develops at financial markets. Gambling speculators, especially hedge funds invest money to make more and more money by any means, fair or foul, without considering the welfare of all mankind. To acquire more earnings they take advantage of such a crisis as a natural disaster, and the political, social and economic difficulty. Gambling speculators found a good chance to get earnings after the Hanshin Awaji Earthquake in 1995 and after the North East Japan Earthquake in 2011. They seemed to acquire the great amount of earnings by selling US dollars and buying Japanese Yen at the foreign exchange market. The author will explain how international gambling speculators raised the value of JPY and how Japan coped with it. International speculation was too strong for Japan to confront alone with it. The high evaluation of JPY could not stop without the international co-operative intervention in the foreign exchange market. The author will advocate that the greediest gambling speculation at the international market should be severely regulated as an international crime, because the social and economic inequality is widened by the greedy speculation for the small number of the wealthiest. (original abstract)
Opis fizyczny
  • Kokugakuin University, Tokyo, Japan
  • M. Yokoyama, Crimes of Private Corporations in Japan, Paper presented at a meeting on Crime and Development" at the Research Committee for Sociology of Deviance & Social Control, International Sociological Association held on December 17-19, 1984, at the United Nations Latin America Institute in San Jose, Costa Rica.
  • M. Yokoyama, Environmental Pollution by Corporations in Japan. In Pontell, Henry N. and Gilbert Geis (eds.), International Handbook of White-Collar and Corporate Crime, Springer, New York: 2007, s. 327.
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