Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: SliderOnTheBlack who wrote (20666)	10/25/2002 12:32:57 PM
From: Jim Willie CB	Read Replies (3) of 36161

this guy in my sports club had more to say on Japan [first, whatever it is you're smoking... spark another nice stream of consciousness that was reminiscent of drugged out college days... did you wear a beer dispensing helmet to games?] seriously, this Joe went on a different tangent in the pure banking world... he deals daily with Asia in his international pump/valve business... he also talks shop with Frank in NYCity about the bigbank systems Joe said the JYen is selling off badly now as a prelude to "ACTUAL REAL ACTION TO LIQUIDATE THE JAPANESE BANKS" he said FOREX players are getting the hell out of the way in preparation for some tidal waves of bankruptcies among large banks over there... he said talk has been perennial on Japanese action to clean up banks, but now with the world economy in the toilet, with debt collapse accelerating, their portfolios have worsened from walking dead to grounded dead I asked if he thought or heard that Japanese banks would sell some of their $200B in USTrezBonds... he said he didnt know for sure, but expected some sort of implosion by mid-2003 with large scale liquidation of bank assets... he asked didacticly "and what are their assets?" I said underwater Japanese corp loans, underwater Japanese homeowner mortgages, Nikkei stocks bought over a wide range of prices but probably many at higher prices.... and a gob of USTBonds he said "RIGHT" have you checked the large Head & Shoulder bull pattern forming in progress in the JYen ??? worth a quick look, as it jumped over the 200MA gold-eagle.com methinks money is soon heading home to Japan to deal with the banks they held off The Grim Reaper for almost 10 years now the debt collapse and imminent bank crisis demands it / jim

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