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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: long-gone who wrote (66000)	3/18/2001 1:31:30 AM
From: Hawkmoon	Read Replies (2) of 116758

I think the Japanese government is holding mainly US T-Bills, and I doubt they own our drillers. But the Bank of Japan faces another problem in that when they sell dollar denominated assets and repatriot them home, they strenghthen the yen, which strikes me as not quite being their intent either since a weak yen favors economic recovery. Japan is in a liquidity trap Richard. Much of our reasoning as to what constitutes sound economic policy is not really available to them. So they're going to pay people zero interest on their deposits, and be forced to devalue their yen at the same time in order to spur inflation. And spurring that inflation is going to hurt all of those Japanese who have been saving every dime for retirement. I'm may be wrong, but I think that if we, as Americans, play our cards right, we're going to see capital screaming to come over here due to the risks everywhere else and the fact that the Japanese government MUST screw over the Japanese savers in order to force them to spend. Regards, Ron

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