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To: Abner Hosmer who wrote (7546)2/13/1998 2:09:00 AM
From: PaulM  Read Replies (2) | Respond to of 116997
 
Thomas, very interesting. What that means is that Rubin and Greenspan have been warned that Japanese COULD WELL sell treasuries on a large scale. It makes perfect sense given the upcoming deadline and recent tiffs between Japan and U.S. And it explains why Summers today called Japanese fiscal policy "contractionary" with .5% interest rates.

And of course, what Rubin and Greenspan said makes no sense. There is no such thing as unlimited demand at the same price. Not in any market. Not unless the Fed wants to print lots and lots of money to buy those treasurues. Which it will.




To: Abner Hosmer who wrote (7546)2/13/1998 2:13:00 AM
From: PaulM  Read Replies (3) | Respond to of 116997
 
"You play a game and the game goes against you and you say you're taken advantage of?"

biz.yahoo.com

Wonder if JPM feels the same about IMF funding.