VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: stockman_scott who wrote (50798)	5/1/2002 2:25:32 PM
From: Jim Willie CB	Read Replies (3) of 65232

TrezONeill is clueless on foreign holdings just saw a brief cutting in front of Congress he said he doesnt believe any single country owns enough TreasuryBonds to influence the market are you kidding me?????????? China has $250B Japan has $300B a total of perhaps $1500-2000 billion outside our borders several Asian PacRim Tigers have been printing their own debased currencies, then using them to buy USTBonds they use the interest-bearing TBond as a security for monetizing their banking systems this is so dangerous TBond is debt, not a tangible asset these guys are either clueless or scared to tell the truth my guess is they are scared the AFL-CIO testifies about a 30% discount given by the currency market on mfd products it must reverse, and gold will benefit / jim

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