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To: Rarebird who wrote (40057)	9/5/1999 10:52:00 PM
From: gao seng	Read Replies (2) \| Respond to of 116791

Did anyone see a show on TDC tonight about Fort Knox? I only caught a little bit of it, but the gist was that nobody knows how much gold is actually in there anymore, and it probably ain't much. discovery.com

To: Rarebird who wrote (40057)	9/5/1999 11:51:00 PM
From: Rarebird	Read Replies (3) \| Respond to of 116791

Japan may need to act alone on FX. TOKYO, Sept 3 (Reuters) - Ichizo Ohara, a senior Japanese ruling party legislator and unofficial adviser to the prime minister, said on Friday Japan should be ready to intervene alone in the foreign exchange market without necessarily waiting until it can coordinate action with the United States. Ohara added, however, that the United States might join Japan in preventing a further weakening of the dollar against the yen if it became nervous over an outflow of funds from the United States to Japan. He said U.S. asset prices were close to an upper limit. "Both U.S. and Japanese authorities are very nervous," Ohara said. "So we cannot rule out concerted intervention." marketwatch.newsalert.com

To: Rarebird who wrote (40057)	9/6/1999 12:38:00 PM
From: Rarebird	Read Replies (2) \| Respond to of 116791

The Purpose Of Repatriation and it's Effect on the USA: Everyone knows that the Japanese economy has been in a decline for all of the 90's. After a decade of recession and deflation and low interest rates, it would appear that no amount of stimulation and no degree of tax cuts will result in any significant and lasting increase in domestic expenditure in Japan. Japan has a real hole in its banking system, a very large one. Japan still has to find some way to make good the real and potential loss suffered by depositors in Japanese banks- a matter of perhaps some $2.5 trillion. This vast hole in the banking system in Japan requires eventually the repatriation of Japanese assets from abroad, in particular US Gov't Bonds. This would deplete much of the financial world of its liquidity, cause bond yields and other interest rates to jump sky high and topple the foundation on which the Dow and other major stock indices are currently reaching for the clouds. The repatriation of these funds would have widespread devastating effects on the US Economy, its markets and those of the rest of the world. IMO, Japan has a strategy and it doesn't involve playing vassal to the US any more. They may be able to weather the storm if they repatriate the vast wealth of their investments in the USA. Japan needs higher ( not lower ) interest rates to have a fighting chance to solve their problems. The Japanese ( in spite of their contradictory statements ) are beginning to slowly realize this. Imagine what would happen if the interest received by Japanese households were to increase 3-fold overnight. Firstly, the total income received on household savings would jump 3-fold per year. Tax on interest could be reduced and the Treasury would still gather more than now. Pensioners would suddenly move above the survival line and have money to spend on comparative luxuries. Secondly, the productive Japanese worker would have less reason to save every Yen that comes his way and spend more. This shopping spree, in turn, would suddenly have Japanese companies out hiring people to take care of the increased demand. The process of repatriation has just begun and there is no turning back. At this point, the only possible solution ( outside of a gold backed bond, which entails a much higher gold price ) to Japan's huge banking problem lies in the repatriation of foreign assets. Japan will not be the only one to sink into economic morass.

To: Rarebird who wrote (40057)	9/6/1999 4:17:00 PM
From: Zardoz	Read Replies (5) \| Respond to of 116791

The Korean government collected approximately 228 tons of Gold from the population.... To be sure, the Korean government was desperate enough at the time to "accept foreign currencies, as well as silver." But why do you think " the Gold only got mentioned in the news?" They ended up selling about 180 tons. I want YOU to know what my point is. You posted the article; I challenge the data within the article. Why do you think that you only heard about the GOLD they collected, and not the other commodities that went with it? Because you and many others have selective hearing. You don't want to know. In a PM you called me myopic, yet I take the time to learn the truth behind a story. You posted the article for discussion, if that is not your intention, then WHAT is? shrug A Nice Fall in the US Dollar relative to the US Dollar Index (below 90), and gold may very well rise above the $305 level of October 1998 and hold above that level. Repatriation has just begun. You haven't seen nothing yet. And as every day goes by, you're less likely to see a decreasing dollar. You fail to understand the strife that Euroland, Britain, and Japan are going through right now. You may very soon see. And that shock may result in a destabilized currency flux that will cause the US dollar to appreciate to all time highs. And further cause GOLD to be unloaded at every increasing rates from CB and institutional sources. This may very well curb the economics of gold to that below production costs. Yet you'll be shaking your head, and wondering where it all went wrong. GOLD. Not sure why you include a Lawrence Kudlow commentary in your post to me. PS Why don't you voice your criticisms to the gentleman who wrote the article? I did, I always do. When I find a sadly misrepresented written article such as that I just feel I must write them. I even offered to write gold-eagle an article explaining WHY so many have predicted a low of $250 range for this time frame; and it doesn't include collusion, manipulation or cabals. Hutch.