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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: stevenallen who wrote (25613)2/1/2005 12:19:02 AM
From: seventh_son  Read Replies (1) of 110194
 
> PS - Just what are gushi girls anyway? -vbg-
They are giggly geishas who like to eat sushi. Didn't you know that?

Seriously though, I have been to Japan three times and read a lot about Japan. I admire Japanese people in many ways, but I completely share Russ's impression that there is an elite group at the top in Japan who are fleecing the masses probably even more successfully that anything happening in Canada or the US. It is the whole nature of the society to be obedient, discreet, secretive when necessary, and totally protective of the interests of whatever group they are within even in illegal or immoral cases... a perfect recipe for corruption to succeed. Don't trust the big banks to report their financial situations properly, because for every greedy, dishonest CEO who fudges everything, there are underlings who feel total loyalty to their bank and CEO and cover everything up. Don't trust elected officials, who trade favours with their monied friends almost with impunity. The LDP party, which has ruled Japan since after WW II, has an incredible history of corruption, even given we are only probably getting a tiny peek of what has gone on. Above all, don't trust a secretive and all-powerful organization like the Bank of Japan. Would they rig currency markets, bond markets, even stock markets? You bet! Who is going to stop them? The only ones who could or would are the US, but no doubt they are taking turns in backscratching with Greenspan.
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