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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who wrote (264)	6/26/1998 8:46:00 AM
From: Bobby Yellin	Read Replies (1) of 3536

thank you Henry..I will have to read what you wrote a few times.. I am missing something but it is because of my ignorance of something.. part of the ignorance was not realizing that important point about foreigners buying up distressed financial institutions in Japan.. it had occurred to me about other countries..but never about Japan.. I guess I was involved in some magical thinking when I assumed that the Japanese government could do some sleight of hand by using their foreign reserves and possibly gold reserves by reducing the value of the yen even more and stepping in with their other assets. You added a fly in my ointment when you previously mentioned that the savers of Japan have been badly punished not because of the low interest rates(forgot how many years James Grant said it would take the savers to double their savings if they kept them in Japanese money markets..years upon years upon years..)..also read an editorial in times today by S. Roach saying that the people in Japan have not felt the pain yet from their domestic market(I guess also helping the Japanese in their delay tactics)..also read somewher that the massive spending on intrastructure hasn't kicked in to get them out of their recession)..also about exporting themselves out of recession..how can they do that with China and other depressed SE Asian countries.. also..with threat of Chinese devaluation,after reading that article by Roach..it sounds as if China would also be shooting itself in two feet if it devalued so maybe Japan has China behind the eight ball.. please excuse the rambling presentation...just typing what my thoughts and questions are.. plead ignorance bobby

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