Nevtah/Tower Oil Intl.- NTAH Message Board

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Gold/Mining/Energy : Nevtah/Tower Oil Intl.- NTAH

NTAH 0.00400

-60.0%

Jul 24 5:00 PM EST

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To: WR61499 who wrote (3214)	10/10/1998 11:06:00 PM
From: Just My Opinion	Read Replies (1) of 3817

WR: OFF Topic>>>>>>I am not sure I can explain it correctly, because I am not sure I understand it thoroughly. Japan had valued their assets at market on their balance sheets. So every year they would increase their assets falsely. Now what happened was the banks had all their loans tied to this fictitious valuation. The nikkei also plays a part. It had to stay above 14000. I believe that technically the banks are all bankrupt in Japan currently, but the Japanese government is closing their eyes to it. Now if the banks are required to "come clean", what part of this entails is their selling their holdings of US Treasuries. This would throw everything into the toilet, I believe the day they start selling. I had read about this several years ago, and I cannot remember everything that was written, I can only remember the overview, and even that is hazy. The bottom line is that the world may be in the outhouse, I think. Maybe someone else can explain the whole thing step by step.

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