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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: PaulM who wrote (3948)	12/7/1997 10:33:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116816

Deficit for October has literally exploded, another reason for Japan to try to talk yen up. Bluff? "Japan's current account surplus for October is expected to have shot up to 1.02 trillion yen, tripling in size from a year earlier, according to an average of predictions by economists on Monday.." ''As Japan has so many overseas assets, when they repatriate them with a weaker yen that tends to inflate the surplus as well. It's quite a large factor,'' said Matthew Poggi, economist at Lehman Brothers..." biz.yahoo.com

To: PaulM who wrote (3948)	12/7/1997 10:41:00 PM
From: marcos	Read Replies (1) \| Respond to of 116816

Wise to swallow nothing whole, and yes the fear shows, but imho he does have a bit of a point. Sort of like the saying; "Borrow a hundred thousand, the bank owns you; borrow a hundred million and you own the bank." ....the US owes Japan somewhere around a third of a trillion US dollars. What are they going to do, foreclose -g- I only posted that because I thought the language was a little strong, kind of cute considering the date. "... volatility amongst currencies is great news for precious metals." I agree, but am not holding my breath either. I've never been a gold bug, but my contrarian streak says all trends turn eventually. You have to buy groceries in the meantime, though, so saving dry powder until after a confirmed up-trend seems logical.