Isn't this what we have been talking about in the USA?
The stock market becomes defacto money in international trade via the hedging space. Japan financiers have to make the the 22% of GDP in interest charges for government.
They get paid because they set the stock market volatility and make prior bets with first hand information.
This is Krugman's 'debt is what we owe ourselves'. How long to the rich stay richer? As long as government as extreme liquidity constraints. As long as government has to hire primary dealers and manage debt flow. This is why we think of government back there as a corrupt Swamp.
More importantly, this is why our favorite macro-economists are currently in blackout mode, they are preparing a new set of talking points to cover this up.
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