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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (7462)	11/8/1997 7:46:00 PM
From: Joseph G.	Respond to of 18056

Zeev, define "undeground". Are Fed Treasury balances undeground because I don't like to pay taxes? CDs, particularly large, are well above ground. Are European economies running on US paper money? (as opposed to bank currency deposits) Re: inflation, no need to include assets in price inflation. Just include taxes and services, and you'll see actual price inflation running at 4 to 6%. And money can't go into paper assets, money comes from paper assets. Joe

To: Zeev Hed who wrote (7462)	11/9/1997 12:17:00 AM
From: Mark Nelson	Respond to of 18056

Couple stories re: Japan Banks in Trouble from So. China Morning Post scmp.com scmp.com Interesting aspect to Japan's market, referenced in second article, is some sort of "gentlemen's agreement" amoung banks (and insurance companies too, I believe) to hold each other's stock. Yamamoto was rumored to be selling and caused substantial concern that the agreement may not hold. The article mentions banks' holdings in companies the loan to but I believe I have read that it's more widespread. I only bring this up because the situation is so dicey. I personally think the banks are out of control and they'll have to liquidate assets. We won't be able to wave that off so easily. Mark