Our government has issued 152 trillion yen last year, that is, approx. 1.27 trillion USD, of which 70% was bought by BOJ. Isn't it the monetization of the national bond?
This drastic QE continued by the present cabinet was told to cause mild inflation and to get out of the deflation. It has not been achieved. Only asset bubble seems to go on.
If they stop this QE at some moment, it will be the time the national bond won't be bought in the market, resulting in the slump of the national bond.
If they go on this QE, there will be the hyperinflation causing destruction of the economy in Japan.
Either way is a thorny road for us.