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To: Jaakko who wrote (4184)	12/12/1997 8:28:00 AM
From: Alex	Read Replies (1) \| Respond to of 116845

Jaakko. Great catch. (eom)

To: Jaakko who wrote (4184)	12/12/1997 11:25:00 AM
From: JD	Read Replies (2) \| Respond to of 116845

Canada going south. From various papers Calgary Herald 12/12/97 southam.com interesting excerpts... The dollar, caught in the undertow from the Asian currency crisis, was dragged down to 69.98 cents US before being rescued by the Bank of Canada which spent an estimated $500 million US to buy up the currency. "We're beyond the point of arguing if we're going to get higher rates, we're now at the stage of when and how much," he said. "And we're running out of time on the when, which could be (today)." Financial Post 12/12/97 canoe.ca title: "FULL BLOWN CRISIS IN CONFIDENCE HITS C$" is from quote by senior Nesbitt/Burns economist. includes another interesting statement... ÿThe central bank's moves were the latest in a string of interventions that cost about $3.1 billion in October and November. This month's tab won't be known until early January. JD

To: Jaakko who wrote (4184)	12/12/1997 3:43:00 PM
From: Al Cern	Respond to of 116845

Jaakko, Today, the Japanese have officially asked Washington to help them sell the bonds because - high rates or not - they need the money to bail out their companies. (from the John Crudele col. NY Post) What are the Japanese going to do with the $300,000,000,000? Will they exchange it back into yen? Highly unlikely when they can print as much as they want. Is it to defend the yen against attack? Possibly, but the end result is the same, you sell your foreign exchange. They could buy other assets, to try and protect against oil price increases. Are there any ideas out there? Sincerely, Al Cern