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I wasn’t planning on writing this morning; but given the overnight plunge in the Yen to nearly a new multi-year low – and the emotion fueled by reading Vladimir’s “Crimea Speech” yesterday – I felt compelled to do so.

Regarding the former, the global money printing party that commenced in 2008 is – without a doubt – about to dramatically accelerate; and as we wrote in last year’s “Real Yen Bomb Starts Now,” the odds of Japan becoming the first major economic power to experience hyperinflation in 21st century have never been higher.  Last month, we wrote that the “Japanese Noose Continues to Tighten,” and Friday’s report of collapsing consumer spending and multi-year inflation highs – combined with this morning’s plunging industrial production and manufacturing PMI, just one day ahead of a draconian increase in the national sales tax – from 5% to 8% – essentially guarantees “Abenomics” will be stepped up further in the coming months.  Japanese stocks were higher, of course – according to Yahoo! Finance, due to “expectations of Chinese stimulus” no less; but ultimately, for Japan’s “99%” that don’t own stocks, the only increases they’ll wake up to this morning will be in their already globally high inflation rates.  And given that the ECB is widely expected to launch QE (via Draghi’s OMT, or “Outright Monetary Transaction”) and/or negative deposit rates at Thursday’s meeting, we may well experience a “double shot” of global QE in the very near-term; or, if the Chinese follow through with Yahoo! Finance’s speculation – which I suspect they will, given the new low in the Yuan this morning – a triple shot.

Thus, it shouldn’t be surprising that Japanese citizens are buying physical gold at unprecedented rates; such as at Tanaka Kikinzoku Jewelry, a Precious Metals specialist that reports sales of gold ingots across seven of its shops up more than 500% this month.  In fact, at the company’s flagship store in Ginza on Thursday, people queued for up to three hours to buy 500g bars, as “March has been the busiest month in Tanaka’s 120-year history.”

Regarding the latter, it was truly moving to read Putin’s eloquent refutation of the Western propaganda of Russian aggression in the Ukraine – which frankly, is no different than the U.S.-led efforts to catalyze wars in Iraq, Afghanistan, Libya, Iran, and Syria.  His March 18th “Crimea Speech” is the polar opposite of what Barack Obama said last week in Europe – in a speech which, eerily, ended with ZERO applause and uncomfortable silence.  Make no mistake, Putin is prepared to defend Russia’s interests to the death – per this week’s massive nuclear war drill; but what really strikes us is America’s arrogant aggression toward the dangerous Russian bear, and what it may portend for global acceptance of the rapidly waning status of its “reserve currency.”

As for gold, amidst the aforementioned, unprecedented physical demand, the Cartel has grown more desperate than ever.  COMEX registered inventories have not budged in more than a month, despite enormous orders standing for delivery; and last night, we experienced the 32nd “Sunday night sentiment” attack in 33 weeks, followed by the 197th “2:15 AM” EST paper raid in the past 219 trading days.  The battle for the key round number of $1,300/oz. continues; and trading well below the industry’s breakeven level at closer to $1,500/oz, it’s only a matter of time before reality takes over.

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And when said reality sets in, if you haven’t already protected yourself, it may forever be too late.