<<...with it being the 26th of March, I thought I might as well mention it.
Much has been made of the Japanese:
1) documented, historical savings rate
2) the change in Japanese "insured savubgs/deposits limit status" after March 31, 2002
3) the upper insured change being approximately a paltry $87,000 per depositor
4) the documented increase in imported gold by Japan in this quarter over last year for example,
5) the documented increase in retail sales of gold as opposed to platinum to retail consumer in Japan
What I'm not hearing and am wondering if you have, is this:
I'm hearing nothing about the fact that if so much conversion of "over $87,000" insured funds has already gone into gold, where are pundits thinking NEW savings by the obviously thrifty Japanese is going to go?
I mean, once a "ceiling" has been reached, are we goldbugs going to witness a continued conversion into physical gold from April 1, 2002 forward by the thrifty Japanese who has already hit the ceiling and has few other "safe havens" for their debauched currency. Have you seen any estimates?>>
What you didn't mention was the pending failure of a few Japanese banks & perhaps an Insurance firm...They simply MUST pur their money into gold If they plan to save it - there. |
