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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Jyoti sharma who wrote (2918)	4/6/1998 10:25:00 AM
From: Worswick	Respond to of 9980

Jyoti, Tommaso et. all. Just spoke to my Japanese friend about the $10 trillon in the Japanese postal savings bank. The money is in cash. The government is going broke paying 1% interest. They have tried before to off load it onto a privatized fund but couldn't. Today, this moment, in Tokyo you can walk into a store under the new financial rules and pay for anything in the store with dollars or pounds or any foreign currency. Wierd. According to my Japanese friend there is a total suspension inthe belief that the government can do anything. Anything at all. Look for Citibank taking all the Japanese deposits they are getting and turning around and buying into investment vehicles that hold tons of Japanese assets. Real estate to start. The shoe is definitely on the other foot here. My god from where we have gotten to since 1988.