It seems people on the street in Japan are buying gold, at least in part in anticipation of a Yen collapse. If they are right (and of course a run on anything can be self-fulfilling) the Central Bank's ability to control Abenomics will evaporate and we'll be in for one hell of a ride.

Japan currently has by far the greatest debt per capita in the world and there is a view that if interest rates rise as a result of higher inflation (or just inflation expectations) the government will be forced to default.