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Gold/Mining/Energy : Gold Price Monitor

GDXJ 119.96

+2.0%

Dec 22 4:00 PM EST

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To: PaulM who wrote (3955)	12/7/1997 11:48:00 PM
From: philv	Read Replies (1) of 116820

Paul: You have it right. Result for the Dow is down as well. Also pressure on the US dollar. That arcticle seemed so backwards at first, the debtor threatening the lender. But there is more to it, and much more to come should this actually occur. I can imagine some pretty high level discussions between US and Japan. A massive repatriation by the Japanese could result in major problems for currencies, markets, interest rates etc. And in the end, Japan would also pay a very high price as US is one of the most important export markets for them. If they do decide to sell some US treasury bonds, the amount will probably be small, and they will sell over a period of time to keep the markets calm. But, this could be the beginning of problems for the great US dollar. Phil

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