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To: B.REVERE who wrote (2479)	3/21/2001 1:55:36 AM
From: TobagoJack	Respond to of 74559

I do not know. I suppose 1% 10-year bonds is better than <1% on cash. I believe Japan insurance companies, pension funds etc have to buy x% of Japan assets; I do not know what %, but most countries have such rules for locally chartered insurance companies, if not by law, then at least by "prudent" allocation matching local assets to local liabilities. And so, they do. They could do better in the long term if they buy gold and lease it out, or in the short term by buying gold mines and sell forward. I would think this 1% bond will later become a bomb for Japan unless Japan can never trigger Japanese inflation by having released such liquidity on the world. BTW, Japan is a large investor/hoarder of platinum (jewelry and ingots) - about 1/3 of world annual mining production. Chugs, Jay