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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Paul Berliner who wrote (1970)	7/19/1999 5:53:00 PM
From: Henry Volquardsen	Read Replies (1) of 3536

It took me a while to read through the article as I kept laughing at the phrase The interpretation of derivative trades that "postpone losses" (son saki oukuri sohen) was determined as a subversive act against the integrity of the Japanese financial system... I was under the impression that encouraging banks to "postpone losses" was government policy. You would think they would appreciate the help. On a serious note I have not heard this before but will check into it. If Armstrong is correct, and I have no reason to doubt him, then I think his conclusions are correct. If the the Japanese gov't were to enforce such a ridiculous interpretation they would be cutting off their nose to spite their face. No foreign bank would deal with a Japanese bank.

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