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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who wrote (127)	5/16/1998 10:56:00 PM
From: N	Read Replies (1) of 3536

Henry, "They held those dollars in Treasury securities and would sell those, most likely to the Fed, to use for intervention. The Fed would sell those Treasuries back into the open market" (There was some mention of Japanese banks selling Treasuries to meet capital requirements recently at a key regulation type data, then they bought back?) So, you're saying most central bank to central bank stuff is sterilized? Great posts, btw, by you and P. Ross. Had no knowledge of gold leasing, lira - DM carry trade... So why has M3 grown so fast? The Economist remarked that if the Japanese did dump all those Treasuries it would mark the first time they had sold any of their investments at a good price!!! Re: BIS. A friend who sort of 'sabbaticalled' there, said the one thing they do really, really well is give great dinner parties!! Not too much of a threat to the former Soviet Union...I suspect. Nancy Hammond

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