Japan's Central Bank Buys ETF's Showing How Much of a Fraud Markets Are

Bloomberg reports:

The central bank surprised investors last month by unveiling changes including a plan to buy more exchange-traded funds. Stocks jumped, and then reversed gains as traders viewed the measures as adjustments to the existing program rather than new stimulus. As attention turns to Friday’s decision, Nomura Holdings Inc. says the BOJ should look beyond just increasing the pace of its record bond-buying.

“We think even a decision to ease further at the January BOJ monetary policy meeting would not be enough to calm the market,” Nomura strategists led by Hisao Matsuura wrote in a note this month. “From the standpoint of measures to support share prices, we think changes in the BOJ’s fixed amounts of ETF purchases would be more effective.”

How embarrassing.