Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.61

+3.0%

Dec 19 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bobby Yellin who wrote (3897)	12/7/1997 8:06:00 PM
From: lorne	Read Replies (4) of 116815

Hi Bobby A lot of us were wondering if/when this might happen. Dec.7/97, Japan Yamasaki hints at use of foreign currency reservesYomiuri Shimbun ------------------------------------------------------------------------ Yomiuri Shimbun The ruling Liberal Democratic Party may call for the use the government's foreign exchange reserves to strengthen financial institutions, Taku Yamasaki, chairman of the LDP Policy Research Council, said Sunday. Yamasaki said the LDP's intension to discuss a plan to sell a portion of government-held U.S. Treasury bonds to raise dollars for Japanese financial institutions--which are facing difficulties in raising dollars abroad as "Japan premiums," or additional interest rates--reflected growing market skepticism overseas of the nation's creditworthiness. Yamasaki made the remark in reference to the dollar's persistent appreciation against the yen due to poor performance at some Japanese financial service firms. On Friday, the dollar surged above the 130 yen level in New York for the first time since May 1992. "There would be little negative impact even if the yen gains strength (after the sales of U.S. Treasury bonds) now that the yen has depreciated to such a low level," Yamasaki told reporters Sunday. "I think an exchange rate of 120 yen to the dollar would be appropriate." The Finance Ministry declined to comment on Yamasaki's remarks.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next