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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (10927)	3/29/2004 1:49:37 PM
From: Jim Willie CB	Respond to of 110194

BOJ is worried sick over losing hotmoney if they intervene, they lose the last six months worth of hotmoney that has come to their financial markets few seem to focus on the Nikkei and their banks Japanese banks have too much reserves tied up in stocks their banks are no longer underwater lately if hotmoney departs from falling JYen, then banks go back to underwater BOJ finds itself with Sophie's Choice here let exporters suffer (from rising JYen) or let banks go underwater again (from falling JYen) it is clear to me which is the next course exporters can adjust to selling more to China and less to America banks must remain out of danger this is an easy call, with little head scratching / jim