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To: lorne who wrote (3938)	12/7/1997 8:12:00 PM
From: PaulM	Respond to of 116815

"An Exchange rate of 120 yen to the dollar would be appropriate" Politicians rarely make such explicit statements. I'd expect the dollar to get pounded on this news tomorrow.

To: lorne who wrote (3938)	12/7/1997 8:45:00 PM
From: marcos	Read Replies (2) \| Respond to of 116815

"Dec.7/97, Japan Yamasaki hints at use of foreign currency reservesYomiuri Shimbun" ........ a memorable date ....... -g- Another (americano) point of view; biz.yahoo.com "''It is not a problem for the U.S., it's a problem for Japan, because if they want their money back, then our Treasury will hold interest rates constant, that means we issue the money to pay the Japanese, as we issue the money, the dollar goes down, the yen goes up and Japan will die,'' Dornbusch told Reuters Financial Television. (my bolding ---- Remember the Alamo....)

To: lorne who wrote (3938)	12/8/1997 6:29:00 AM
From: Bobby Yellin	Respond to of 116815

It seems like the whole world is straitjacketed. The article posted by the MIT expert(who I think didn't call it right about Mexico but I could be wrong) says that Japan's only recourse is to print money since they are suffering from deflation anyways..with this environmental push on now..they could create a lot of environmental jobs..with the aging population..they could import a lot of foreigners..they could also start something new and say from here to fore..they would like to be repaid in gold...the Japanese could also start buying the corporations in Korea etc at bargain basement prices and start their recovery that way or is that a bizarre idea.. if that article from Grant's Asia Observer is true and India is moving toward a gold standard as Europe is moving toward "trash" <g>..this really could produce an easy transition which wouldn't shake up the markets immediately..also remember (it is only fuzzy in my mind) that Rubin refused to give USA gold to the IMF to help some of the emerging countries recover(which was also quite hysterical since some of these emerging countries were emerging through natural resource activity) I am trying to figure out how gold will be supported by the governments of world without throwing the whole paper asset bubble into a worldwide collapse...especially since the aging population in USA,Europe and Japan is marching towards retirement..and at least so very many Americans know have their retirement hopes in the market.. anyways..just heard that two Swiss banks will merge and purge 13,000 jobs.. (right now the only thing I can think can make gold explode is if those retirees start getting nervous and stop the money flows..but I bet greed will rule the day as more retirement funds flow in at this time period)

To: lorne who wrote (3938)	12/9/1997 2:43:00 PM
From: lorne	Read Replies (1) \| Respond to of 116815

I'm just reading about record bank profits, this story is from Dec.4/97 and I'm just now understanding what it is about this that that really bugs me. Story in Globe and mail "Royal Bank Sets Canadian profit record". All banks seem to be making record profits but at whose expense. It is at the expense of the rank and file workers,these profits are due to layoffs,cut backs,automation, etc. I can just picture the board of directors sitting around the table trying to decide what to do with all this profit, someone will say " I've got it" lets use it to make more profit. I wish at this point I could ask them why??? whats your point you have made billons of dollars and how many jobs have you created, if you don't have jobs you don't need banks. I think all these banks better wake up soon, especially the Central Banks, whether or not the CB's have any part in trashing the price of gold really dosn't matter it is their responsibilty to keep world economies running smoothly and so far they are not doing that great a job. The CB's need only to say some thing good about gold and the loss of thousands of minning jobs could be prevented and all the spin off jobs created by gold minning, these banking people must be totally insane, who do they think will be blamed by countries and workers whose economies have been devastated by their policies, look at south Africa right now, how many jobs in USA, Canada, Australia etc. Ya don't need bombs to control the world just a bankers chair. I always thought banks and bankers were there to protect our savings not control our lives. I think the CB's are going to realize they are making a big mistake and have to do some thing to bring gold back into the currency picture. they may also realize there are more of us rank and file than there are of them and in the end they will do what the majority wants. I truly hope they can prevent the crisis from spreading further. Just venting Lorne