Bill:
Be that the case, it follows the Yen should bottom very soon, and as correction takes place rise in value against the dollar? Additionally, if the alleged purchase of gold by Japan is valid, it might follow that some effort is being made to back the Yen. Why would such an action not strengthen the Yen vis a vis the US dollar?
Conversely, "Look for massive, coordinated intervention." Frequently translates to, "the US taxpayers footing the bill with increasing debt limits so defaulting debtors can maintain their debt load a little longer." With all due respect to IMF intervention and their conditional restrictions, Chase Manhattan, Citicorp, and others commercial banking institutions have extended credit to nepotic corrupt governments and 3-world crooks, like quarters to drunks. Quick profits for banks and crooks alike then defaults and the US taxpayer underwrites more bad debt obligations -- at least for a while. Hopefully, such a banking ploys will have finite life spans, and eventually, without any doubt whatsoever, "the fit will hit the shan."
Ciao, Ted |
