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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 182.40+3.5%3:59 PM EST

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To: Art Bechhoefer who wrote (114002)2/22/2002 10:34:39 AM
From: Jim Willie CB   of 152472
 
some tidbits on Japan and gold rush
those citizens who took money out of cash in jan2001 and put it in simple gold bars are now 65% better off
those citizens who took money out of nikkei in jan2001 and put it in simple gold bars are now 85% better off
those who simply left their money in cash are 25% worse off

the chart of gold in jyen terms is now in a breakout above its established 12-month channel
the rally is now 16 months long

in april 2002 deposits in time deposits (e.g. CD) are insured up to 100k yen
in april 2003 all deposits in bank savings accounts are insured up to 100k yen
100k yen equals $77k now

japanese citizens own approximately $500 billion in time deposits
and another $500 billion in non-CD's

japanese citizens purchased approx 10 tons of gold bars in january 2002 alone
the gold rush in Asia has only started
they may eschew the dollar in favor of gold
why? because so far it is working
western central banks are now bluffing on continued gold sales
sure... sell it all, and watch national wealth disappear as gold heads to $400, then $500, and perhaps higher

the 1999 Washington Accord with european central bankers stipulates they will no longer cooperate with US efforts to suppress gold prices by emptying their treasuries

www.zealllc.com/2002/japangold.htm

/ jim
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