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Strategies & Market Trends : ahhaha's ahs
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To: Ahda who wrote (5323)8/20/2002 3:05:26 PM
From: ahhahaRead Replies (1) of 24758
 
Roach has been very good on his calls on Asia

Yeah? Prove it.

In '98 I laid out specifically what Japan had to do, but it took them 1 1/2 years before they did a little of it. Therefore, I was wrong. I was wrong because by the time they did what I told them to do, open the money floodgates, it was too late. Now that policy isn't working very well, but it did get the Yen to rise which Roach claimed wouldn't occur. In fact, he claimed the yen would fall if the BOJ pumped as did all the demand management illiterati.

Also, Japan needed to pursue a currency creation form of monetary policy. Instead, the BOJ pursued a buy JGB policy. In the US that's what the FED is doing, but it all goes to currency preference and the currency is turned over, but in Japan buying JGBs doesn't have the same outcome. The public currency preference is muted. You have to go about floating currency in a different way.
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