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

To: Worswick who wrote (4266)	6/8/1998 1:37:00 PM
From: Joseph Beltran	Read Replies (2) \| Respond to of 9980

Interesting observations....If volume 9 is 140 yen to the dollar, volume 10 will be 150. I think that would be the precipice for japan and it will coincide with major outcry among our exporters. japan doesn't want to commit its reserves here because it must know that it will be a futile effort. their backs are against the wall. Could it be that the u.s. has given up on japan and decided to devote its energy to opening up the chinese market and the s.k. market (with the help of the IMF?). after all, as you say, it's been 8 years now and our patience MUST be wearing thin... regards

To: Worswick who wrote (4266)	6/9/1998 4:43:00 AM
From: Frodo Baxter	Read Replies (1) \| Respond to of 9980

>The last time we took on Hashimoto... Ruben and Clinton cratered the dollar to teach the "junior partner" a lesson in just who's boss. This time we'll do it because we are geting to the point of being 10 x more pissed off than formerly. What??? I'm sorry to use such strong language, but this is unadulterated hogshit. The last time a Treasury Sec'y thought it was a good idea to talk down the dollar was in 1987. >...the only thing that will stop this scenario from happening is that the US markets possibly might develop a high caloric dependence on "postal savings money" coming in to support the US markets. In that case Rubin and Clinton will just to have to be happy with lots of hot air and bluster. Eat sushi boys. You've confused cause and effect. Money flows seek high risk-adjusted returns (read: U.S. Treasuries). High risk-adjusted returns do not derive from money flow, although high absolute returns may. >We are talking here about almost 8 years of conversations frustrated by stone walling. Gee, I guess the Japanese won't be able to afford $135 used Levi 501's anymore. Just to teach them a lesson I think the US monetary authorities will determinedly turn the voluem up to "9". So I guess Japan should just roll over and hand over their fiscal and monetary strings to the U.S.? We're talking about a sovereign nation, and good or bad, they have to be allowed (what a paternalistic idea) to make their own mistakes. Our monetary authorities have rightly gotten out of the business of trying to prop up currencies. It doesn't work and only the speculators get rich.