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Strategies & Market Trends : Asia Forum

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To: MikeM54321 who wrote (4390)	6/11/1998 10:29:00 AM
From: Joseph Beltran	Read Replies (2) of 9980

I sure get a sense that the dam in japan, inc. is collapsing and that the entrenched japanese bureaucrats are all sitting around with their fingers up their asses thinking (hoping) that the situation will "correct itself". I am beginning to truly believe that those idiots are going to allow japan to fall over the edge here. Incidentally, it was interesting to note that Greenspan yesterday deferred any questions about u.s. intervention vis a vis the yen to treasury secretary Rubin, indicating that the FOMC and Rubin had "agreed" to a course of action on that issue. My suspicion is that Rubin is willing to play hardball at this point: he is telling japan that the u.s. (and its allies) will not act in concert with japan to support the yen unless there are immediate ACTIONS on the part of japan to re-structure their banking and financial system. Any comments? regards

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