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To: lorne who wrote (3676)	11/30/1997 3:48:00 PM
From: lorne	Respond to of 116815

This story appeared Feb. 01/96, and was titled. " Time For Asia To Form Yen". Wonder how it fits with todays mess. web3.asia1.com.sg

To: lorne who wrote (3676)	11/30/1997 4:51:00 PM
From: Terry Rose	Read Replies (2) \| Respond to of 116815

60 Trillion yen sounds like a lot of revenue to me. Numbers like this make my head spin. The article does not mention how much they plan to spend or if they will operate in a defecit. Even if all their revenue went solely to their bailout of insolvent or soon to be insolvent financial institutions this would not be adequate. My main source of information on the Japanese crisis says that the money needed for a bailout exceeds 2 trillion dollars or roughly 250 trillion yen. The wildcard here is that it is anybody's guess how bad things are with these banks. Much of their losses are hidden in offshore accounts. The other important thing is the interconnection between these banks, in that they own each other's stock. As one goes so goes the other. Off the subject, who is driving the current rally in the U.S. stock market? Until the current Asia debaucle, half the money flowing into the market was from foreign buyers. I really don't think that it is still at this percentage, and yet the market is rallying. My educated guess is that the government is behind the rally, so that these Japanese institutions can liquidate there holdings without driving down the market. Once, they are finished selling, the individual long term investor gets to join the party as our market finally corrects. I think gold will rally big-time when the market passes the 20% stage. Can anyone tell me how to make paragraphs with this word processor. Thanks.