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To: Rob who wrote (3895)12/6/1997 1:45:00 PM
From: Bobby Yellin  Read Replies (1) | Respond to of 116815
 
great article..especially about their failure rate and their gold
reserves..have they made any announcement about lending out their
gold and howmuch gold they have in reserves..



To: Rob who wrote (3895)12/6/1997 1:50:00 PM
From: Ahda  Respond to of 116815
 
Rob thank you so for this post i have been wondering number one the interest rate number two my own personnal feeling has been the IMF is presently controlling all and for how long i wonder. To me this somehow is a tie in to gold.



To: Rob who wrote (3895)12/6/1997 6:08:00 PM
From: Rob  Respond to of 116815
 
The Battle Of Hong Kong Phase II

Local Hong Kong Investors are beginning to fear a renewed assault on the Peg. From the South China Morning Post:

scmp.com




To: Rob who wrote (3895)12/6/1997 6:17:00 PM
From: Rob  Respond to of 116815
 
...and Indonesian Rupiah is still sliding despite IMF

Someone a while back posted the astute observation that since Thailand, Indonesia et al were the first to suffer from the asian meltdown, we should continue to observe these countries to see what's coming down the pipe and what affect the IMF bailouts will have. Well, the Indonesian Rupiah is still on the skids and briefly exceeded the 4000 Rupiah mark yesterday. Note that Japan jumped in heavy to support the rupiah when it was pushing against 3700, yet was nowhere to be found the other day.

scmp.com



To: Rob who wrote (3895)12/6/1997 6:36:00 PM
From: Rob  Read Replies (1) | Respond to of 116815
 
Weak Japanese banks getting weaker

The average Japanese isn't so stupid and has begun a flight to quality. Liquidity amongst the weakest of the Japanese banks is being drained as depositors move their money en masse to the stonger banks. The Bank of Tokyo-Mitsubishi, regarded as the strongest Japanese major bank, reported an incredible surge of 450 Billion Yen in deposits for November. I would be interested in the figures for December, which will be able to fully reflect the fallout from the failure of Yamaichi.
So, with no deposits and a whole bunch of bad loans on the books, for how long can banks like Yasuda Trust survive?

Life Insurance companies are no better off, and are experiencing a large number of policy cancellations.

More likely sooner than later, we're going to see a large scale sell-off of Japanese foreign investments (Read US treasuries, stocks, etc). I am curious to know if the recent weaknesses in the Cdn and Australian dollars have been the result of the selling by the Japanese of their respective paper.

afr.com.au