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

To: Mark Myword who wrote (4309)	6/9/1998 9:26:00 AM
From: James F. Hopkins	Respond to of 9980

BILL; Looks like the Japanese have been buying GOLD, it's not so much the dollar up...as the YEN down..and looking at the currency markets the drop in the YEN didn't seem to go there or into more bonds, at least not as much as it has dropped..IMO it's been going into Gold..some of it in gold coins, this could be the yen coming out of the safety deposit boxes and more on the part of the Japanese citizens than say the Government...but they don't trust their banks , or their Gov. and reports say you can't find a safety deposit box in Japan that's not rented. Citizens have been holding and hoarding cash over there..but seem to be flavoring gold and gold coins now. Jim

To: Mark Myword who wrote (4309)	6/9/1998 9:56:00 PM
From: Frodo Baxter	Respond to of 9980

>I am interested in your view of the necessity for the Europeans to back the soon-to-be Euro with a gold reserve of fairly sizable proportions , at least at the outset. Nah. The deutschemark, eh, I mean the euro, doesn't need a gold reserve. If they manage to act responsibly, there will no be no need for it. If not, no amount of gold will save an inflated currency.

To: Mark Myword who wrote (4309)	6/10/1998 10:29:00 AM
From: Thomas Haegin	Read Replies (2) \| Respond to of 9980

Bill, I agree with Lawrence: The new ECB will have rather less Gold in their vaults than the the present BUBA for example. European currencies are on an convergence trail for at least 2 years now. The actions of their individual central banks have been coordinated preety much in the past already. I do not foresee any drastic shifts in the policy of the new ECB. Ireland must be watched as they are on a slightly above average infaltion path right now, but no real concern for now. I saw a headline on biz.yahoo.com today to the gold regard, but please spare me the work to go digging for it now :-) Thomas