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Pastimes : Call it Chimponomics.

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To: Baldur Fjvlnisson who started this subject4/22/2003 11:19:44 AM
From: Baldur Fjvlnisson   of 19
 
Japan's PPT It simply does not work.

neither does it work in the US.

While the following is being reported the Nikkei 225 Index is trading at 7,766.19 -202.89 just 72 points above its 20 year low.

21:00 04/21 +DJ BOJ Share Holdings Y1.231T At Apr 20 Vs Y1.209T Apr 10 >

04-21-03 2100ET- - 09 00 PM EDT 04-21-03
TOKYO (Dow Jones)--The Bank of Japan held shares worth Y1.231 trillion as of
April 20, up from Y1.209 trillion on April 10, the central bank said Tuesday.
The figures indicate the central bank bought Y22 billion of shares from
commercial banks in the period.
The BOJ began buying shares from commercial banks on Nov. 29 through a trust
bank. The purchases follow a decision by the central bank's board in September
to buy shares from banks to protect the banks' balance sheets from stock price
falls.
The BOJ currently plans to buy up to Y3 trillion of shares and will end the
buying program in September 2004.
The central bank releases updated data on its assets every 10 days but doesn't
disclose the names of shares purchased or the banks from which it has bought
the shares.
The central bank's accounts also showed its holdings of government bonds rose
to Y59.122 trillion from Y58.795 trillion.
The BOJ buys Y1.2 trillion of JGBs each month as part of its quantitative
easing, which anchors short-term interest rates near zero and pumps liquidity
into Japan's financial system.
The BOJ has said it will limit its JGB holdings to below the value of
banknotes in circulation, which stood at Y69.174 trillion in the latest
accounts.
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