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To: Les H who wrote (216857)	1/27/2003 1:56:45 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 436258

Les, I don't quite understand the article about the BOJ's balance sheet expansion. Aside from the typical "easy money" and "bad policy" concerns of Austrian economists etc... I see no reason that a central bank couldn't expand it's holdings almost without limit. I also see no reason (other than bad policy) that the central bank should be concerned if the values of the assets they buy decline. It would more or less be a process that would result in the slow socialization of the country. IMO, the whole central banking fiat system has always been a semi-scam to begin with.