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Gold/Mining/Energy : GOLD-XAU

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To: Richnorth who wrote (989)	1/2/1998 11:39:00 AM
From: philv	Read Replies (2) of 1756

Richnorth: Kutyn's article re: Japan's financial problems Pretty sobering to read, but I wonder if Japan hasn't the strength to pull itself out. The Japanese are known savers and have been socking it away for many years, financing the debt of many nations. In the following article, it states that Japan holds a full 33% of the US public debt, totalling 2 trillion dollars. gold-eagle.com No doubt Japan will have to begin to seriously sell these holdings, thereby satisfying those who demand Japan to "inflate" or provide "liquidity" to their own economy and also to "strengthen" the Yen. The problem of course will then be passed on to our shores! Either way this debt problem keeps rearing its ugly head and spells big trouble. The Fixers will be getting large over-time cheques for a long time. Interesting battle to emerge: Japan & their US dollars vs. USA and their huge Japanese trade deficit. There is going to be lots of "hurtin" by the time this is resolved, but then, the Fixers have surprised us before! Hopefully there are no other surprises in the near future, like say an Arab oil embargo. That would really make things dicy. Phil

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