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Gold/Mining/Energy : Hecla Mining(HL) -- Ignore unavailable to you. Want to Upgrade?

To: dwight vickers who wrote (214)	1/12/1998 2:11:00 PM
From: Terrence Von Holidae	Respond to of 629

Dwight: Before 1970, the yen traded at 440 to the dollar. It has been strengthening for many years because Japan is, and continues, to grow as a world economy. They are second only to us in GDP. The dollar will eventaully make lows against the yen to fully reflect Japan's stature. In the short run, 100-110 is a target both parties wish to establish. On the horizon longer term, the dollar will be subject to much lower valuations reflecting its diminishing role as a world currency. Remember, we are a nation with a cumulative trade deficit of $1.25 trillion-dollars, and about to grow quickly. Japan is a net creditor in excess of $800 billion-dollars. If the yen does not appreciate considerably within the next months, our stock market will perpetuate it anyway through very much reduced value. A stock market of declining asset value is ultimately reflected in all instruments of trade. Most international panics are followed by collapses in equity markets of better than 50%. Yours, T.V.H.