Japan has pushed further away from being the nation that embraces “Krugman Era” economics and deeper into the new “Bernanke Era” economics of helicopter money. As a result Japan's citizens have been on a blitz to save what little purchasing power they still possess, before hyperinflation finally arrives.

The gold price is up double digits in the past month and as we said, something big is coming as Japan appears to prime itself for “helicopter money”. With the Yen soaring and that whole negative rate thing going on, the Japanese savers are understandably concerned about the future of their savings. To be sure, Japan's thirst for gold is hardly new. Back in March, when Japan's yields first turned negative, gold merchants such as Vaultoro reported that gold sales jumped 13% thank to an increase in trading from Japan. Japanese savers and investors have flooded towards gold as a safe heaven after the Japanese central bank made a move to set interest rates into the negative.

Now, they are buying even more.

As Bloomberg reports, in the face of a clear lack of trust in Japanese leadership, local investors are buying gold to store in Switzerland. The reason: they are increasingly worried about confiscation which is why they are storing it half way around the globe.The number of buyers jumped 62% in the first six months from the second half of 2015, Atsuko Sato Whitehouse, head of Japanese markets at the London-based BullionVault investment service, said this week. 

The clear action of gold buying comes only months after we reported on the increased demand for safes in Japan. This is what we said back in February: “Look no further than Japan's hardware stores for a worrying new sign that consumers are hoarding cash–the opposite of what the Bank of Japan had hoped when it recently introduced negative interest rates,”WSJ wrote this morning. “Signs are emerging of higher demand for safes—a place where the interest rate on cash is always zero, no matter what the central bank does.”