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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Alan Whirlwind who wrote (14613)	7/1/2002 10:38:55 AM
From: Ahda	Read Replies (2) \| Respond to of 82412

Airlift eyed to end steel shortage The Asahi Shimbun Despite high U.S. steel tariffs, Japanese steelmakers are considering spending an arm and a leg to airlift desperately needed specialty steel products to plants operated by Japanese carmakers in the United States. The auto plants cannot source the high-quality specialty components locally because many U.S. steelmakers lack the technology to supply them. An official at a major Japanese steelmaker said he could not recall such an exceptional step. The emergency tariffs imposed by Washington in March have made it difficult for Japanese automakers with manufacturing operations in the United States to import them from Japan. But with order books bulging, they will now have to obtain several thousand tons of specialty components from Japanese steelmakers. Tariffs to me are a bunch of milarky. First of all you have to decide who is doing what. To me it is utterly impossible to request free trade and in the same mouth full of words include a provision for a tariff. The results as the words are garbled. The Mizuho Banks due to the recent mergers i believe are now the largest banks in the world. More milarky The government and the central bank repeatedly intervened last week, selling yen to shore up the dollar. And the Bank of Japan asked the New York Federal Reserve Bank and the European Central Bank to intervene. Here in the US Japanese auto manufactures cannot get the steel they need. Our plants according to this do not have the technology available to produce the required steel. Company X operating in the US has to go back to Japan for this particular product. Japan who is attempting to go back into the export business sells the Yen and buys the US dollar. The Yen is not as valuable the desire they hope will be greater for US dollar so its price goes up. We have currency here acting as the product not the result of the products but a product that is bought and sold. Japan in monkeying with currency is attempting to reduce the value of her currency making her products more affordable. In doing so she hampers the Americans ability to compete as she it attempting to boost the price of the US dollar on the market. Bush assigns a designated time frame on tariffs to steel industry. He is stating this will give US companies time to revamp their tech. Japan buys more US dollars drops the yen using currency as the go between as theoretically with a massive attack on currency providing all debt held was held buy Japans banks in yen you could literally destroy another currencies value. Flaw is you are also destroying your own corporations who are also operating externally. With a mind set like this in my opinion to me it is more apt to end up as thou has sliced thy own throat. Government against business is that what this is? This is very dirty pool as the tariffs become meaningless when currency changes are great enough to defuse the increase of cost forced by the tariff. About all this garbage is going to do is create a cross trade the likes of which we have never seen. If I were a CB I would be honestly concerned.