>The big difference vs. Greece is that ~90% of all Japanese government bonds are held domestically. Of which ~45% is held by the bank of japan itself. https:/

>The big difference vs. Greece is that ~90% of all Japanese government bonds are held domestically. Of which ~45% is held by the bank of japan itself. https://tradingeconomics.com/japan/central-bank-balance-sheet https://tradingeconomics.com/japan/central-bank-balance-shee... https://www.reuters.com/article/us-japan-economy-boj-idUSKCN1NI07Z https://www.reuters.com/article/us-japan-economy-boj-idUSKCN... Japan is so bankrupt that nobody else will hold their not properly rated debt. Mind you, Japan's clearly bankrupt central bank cannot actually go bankrupt. There is no gold standard, there is no bank run, there is no liquidation requirements. So what? You just magically keep raising the imaginary numbers with no consequences? This is where OP happens. Flipside, I am curious about an alternative approach to fixing the issue like Greece did. Japan is headed toward a situation where their currency will be worthless and their people own nothing. Yes it will mean all retirees pretty much have to go get a job but the federal gov will effectively take ownership over most land. People who actually own their homes will effectively become fiefs. I bet bitcoin and similar coins is beyond popular in Japan right now.