While winging my way across the South Pacific a few months ago, I spotted an unusual job offer:

WANTED: Social worker, tax free salary of $60,000 with free accommodation and transportation, no experience necessary, must be flexible and self-sufficient.

With the unemployment rate at 5.3%, and running as high as 45% for recent college grads, I was amazed that they were even advertising for such a job. Usually such plum positions get farmed out to a close relative of the hiring officials involved.

Intrigued, I read on.

To apply you first had to fly to Auckland, New Zealand, and then catch a flight to Tahiti. After that you must endure another long flight to the remote Gambler Island, and then charter a boat for a 36-hour voyage.

Once there, you had to row ashore to a hidden cove on the island, as there was no dock, or even a beach.

It turns out that the job of a lifetime is on remote Pitcairn Island, some 2,700 miles ENE of New Zealand, home to the modern decedents of the mutineers of the HMS Bounty.

History buffs will recall that in 1790, Fletcher Christian led a rebellion against the tyrannical Captain William Bligh, casting him adrift in a lifeboat.

He then kidnapped several Tahitian women and disappeared off the face of the earth. When he stumbled across Pitcairn, which was absent from contemporary charts, he burned the ship to avoid detection.

An off course British ship didn?t find the island until some 40 years later, only to find that Christian had been killed for his involvement in a love triangle decades earlier.

The job is not without its challenges. There is one doctor, and electric power is switched on only 10 hours a day. Supply ships visit every three months. The local language is a blend of 18^th century English and Tahitian called Pitkern, for which there is no dictionary.

Previous workers have a history of going native. Oh, and 10% of the island?s 54 residents are registered sex offenders, due to its long history of incest.

The next time someone you know complains about being unable to find a job, just tell them they are not looking hard enough, and to brush up on their Pitkern.

For more on the jobs situation, please visit my website at www.madhedgefundtrader.com.

We are pretty much home free on our short position in the Japanese yen.

At this morning?s mark of $2.92 we had captured 73.33% of the maximum potential profit, earning a tidy 8.15% in only eight trading days.

As soon as this position expires on May 20, I?ll be rolling out to the June options.

Better than a poke in the eye with a sharp stick, as they say.

Rather than pay the commissions to come out here at $2.92, I am going to hang on to the May 20 expiration in eight trading days.

Yesterday, Japanese Minister of Finance, Mr. Taro Aso, said that he was ?prepared to undertake intervention? to weaken the Japanese yen.

Of course, it was a big help that someone in the ministry called me last Wednesday to give me a heads up that something like this was in the pipeline, and would be made public as soon as everyone came back to work from Japan?s Golden Week holidays.

Knowing the Finance Minister?s father back in the 1970?s when I covered Japan for The Economist magazine probably had something to do with it.

Did I mention that I was the first foreigner ever to have an office in the Japanese Ministry of Finance, just down the hall from the head guy? I remember the lack of heating and those cold, ill lit marble hallways with creaking wooden parquet floors like it was yesterday.

The news was more than enough to crush the yen and send all of the short term longs packing.

There never was a fundamental argument to own the yen whatsoever. It was technical and high frequency day traders all the way.

What else would you expect with the beleaguered country?s negative interest rates, dying economy, the worlds worst demographic outlook, and a business philosophy firmly rooted in the last century.

Did you know that 20% of the Nikkei Average listed companies are zombies with a negative net worth kept alive so they won?t default on their debt? It?s not an accounting system I have any great faith in.

Look for the move down to be just as ferocious as it was on the way up. My bet is that the yen has put in its high for the year.

Another round of aggressive quantitative easing has to be just around the corner.

If you own the ProShares Ultra Short Yen -2X ETF (YCS), keep it. We have much lower to go for the yen, and much higher to go for the (YCS).

Its All Over for the Yen