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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.78

-1.2%

Dec 31 4:00 PM EST

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To: David R. Schaller who wrote (3337)	11/20/1997 5:38:00 PM
From: philv	Read Replies (2) of 116836

Dave: Some people say the trade deficit is being financed by foreign buying of debt and foreign investment. Japanese money, Chinese, German etc. finding a home in a variety of investment vehicles. Japanese int. rates are so low (.5%) that they invest heavily overseas. That is why the US fears withdrawl of this arrangement. The acceptance of trade deficit for selling of debt paper. The big challenge is keeping this equilibrium. Japanese PM recently expressed concern that the US would not maintain the US dollar. They are in effect arguing for higher US interest rates, stronger US dollar, and they will in turn continue to buy the US securities. This is my read on the situation. Comments? Phil

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