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

To: Tommaso who wrote (2929)	4/6/1998 5:48:00 PM
From: Worswick	Read Replies (1) \| Respond to of 9980

In reference to my post this morning about Japanese postal savings... "Something was said or implied recently on the thread about the small interest paid on these funds being a huge burden to the Japanese government. I wonder if the government holds any securities paid for by these deposits or if they are just sitting there like unspent money, not literal bills, but balances guaranteed by the government". It was my understanding from my friend Tommaso that the government simply lets the money sit there gathering... electronic moss one imagines. "But doesn't that mean that these funds are, for the time being "sterilized"--that is, they exist as book-keeping entries. If they were withdrawn, and especially if they were converted into other currencies, wouldn't Japan have to create money to honor these deposits? And wouldn't this be hugely inflationary?" When I heard this from my friend about people paying with dollars instead of yen in Japan.... Tokyo began to sound like Panama or Tarawa. Again, something I shall repeat from an ancient post of Novermber perhaps. In the Pacific Campaign during the World War II the strangest and certainly some of the most steadfast soldiers in the world (the Japanese) would defend a position until it appeared hopeless. No thought of how they got there in the first place. They would all, at a certain moment, don their white funeral costumes and to a man one fine morning go out to die attacking machine guns with swords and calls of "Banzai"..... A quite unaccountalbe loosing of one's head. Mass dementia. I have noticed personaly that many Japanese fight like hell to a certain point then simply collapse. Fate. Haiku. Something.