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Strategies & Market Trends : Asia Forum

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To: Joseph Beltran who wrote (5451)	8/11/1998 11:48:00 PM
From: MikeM54321	Read Replies (2) of 9980

''Why would the United States waste its money if Japan is not going to do anything to address its fundamental problems,'' asked economist Narman Behravesh of DRI/McGraw Hill Inc. in Lexington, Mass. Joseph, I don't understand how the economist can say, "waste its money?" What Rubin does is done in secrecy, so I thought. Who's to say the US didn't make money off his trade(s)? After all, it was a "relatively" small U.S. intervention (estimated at $2 billion) that sent the yen from around 146 to 136. Who's to say the US didn't cover the trade at a profit. I think I recall earlier this year where Japan intervened to the tune of $20 billion with very little effect. Seemed like what Rubin did was pretty masterful or just lucky. But whatever, I'm sure he made a lot of currency traders jealous. Am I missing something the economist knows for a fact? Thanks, MikeM(From Florida)

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