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To: ahhaha who wrote (13265)	6/16/1998 10:33:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 116762

By all accounts japan is printing yen like there's no tomorrow. How is that not inflation already?

To: ahhaha who wrote (13265)	6/16/1998 10:59:00 PM
From: robnhood	Read Replies (3) \| Respond to of 116762

Ahhaha, from kitco... Tuesday June 16, 9:01 pm Eastern Time Japan urged to print more money to boost economy MELBOURNE, June 17 ( Reuters ) - Japan's central bank should crank up its printing presses and massively expand money supply to help reignite its recessionary economy, a senior Canadian economist said on Wednesday. Royal Bank of Canada chief economist John McCallum admitted his suggestion seemed like ''economic heresy'' but said the task of reflating the world's second-biggest economy was urgent. ''I think printing money is the solution but not to the point of creating massive inflation,'' McCallum told reporters at a trade and investment conference in Australia. ''When you print a lot of money you have a lower yen and if, I think, the yen does not plummet, I don't think people should get alarmed by a lower yen.'' Despite the yen's plunge to nearly 147 yen to the U.S. dollar on Tuesday and record low interest rates in Japan, McCallum said more expansive monetary policy was still badly needed. The additional money would be used help Japan's struggling banking sector to rid their balance sheets of bad debts and ease a credit crunch that is holding back economic recovery, he said. ''If your put more money into the system, you can alleviate that credit cruch,'' McCallum said. "The banks are in rotten shape," he added. _____________________________________

To: ahhaha who wrote (13265)	6/16/1998 11:28:00 PM
From: Ahda	Read Replies (2) \| Respond to of 116762

Hi this comes from today BOJ to banks: disclose and disposehttp://www.japantimes.co.jp/news/news6-98/news.html#story1 Bank of Japan Gov. Masaru Hayami sent a strong message to domestic financial institutions Tuesday, calling on them to make greater efforts to disclose information regarding their bad loans and effectively take steps to dispose them. The move was also seen as an indirect effort to improve confidence in the economy in markets both at home and abroad. A lack of confidence is sometimes cited as a factor behind the yen's recent nosedive. "While it is totally up to the financial institutions to decide the extent to which they disclose the contents of their internal assessments (of their nonperforming loans), the Bank of Japan hopes that disclosure progresses and leads to the recovery of market trust in our financial system," the BOJ head said in a statement. Hayami said it was "a shameful situation" that Japanese financial institutions were still struggling with huge amounts of sour loans despite the fact that seven years have passed since the bubble economy imploded. "If these nonperforming loans remain on their balance sheets, the eyes viewing the Japanese economy both at home and abroad will not brighten, and this is one of the major factors behind the recent sluggishness of the economy," he told a regular news conference. The BOJ has already informed the head of the Japan Federation of Bankers Associations of its position on the matter, but the issue of disclosure would be a decision banks should make voluntarily, he said. Last week Satoru Kishi, federation chairman and president of the Bank of Tokyo-Mitsubishi, indicated that banks were cautious about the matter, citing the fact that financial institutions in the United States did not disclose their categorization figures. At present, financial institutions place their loans into four categories depending on the degree they believe them to be collectable based on individual standards. In addition, Hayami denied allegations Tuesday that the yen's continued fall against the dollar was the major reason behind the weakening of other Asian currencies. The excessive dependence of these economies on the dollar is the main factor behind their currency problems, he said. Hayami did not comment on market rumors that authorities had intervened in currency markets earlier in the day to shore up the yen. "(The level of foreign exchange rates) in general needs to be left up to market forces, but often we see excessive movement in the market. At such times exchange levels are later corrected," he said.

To: ahhaha who wrote (13265)	6/16/1998 11:34:00 PM
From: Gabriela Neri	Respond to of 116762

An excellent post in prose as well as content.

To: ahhaha who wrote (13265)	6/17/1998
From: philv	Read Replies (2) \| Respond to of 116762

ahhaha: When trade numbers are out, the griping will begin. What are the chances the US will move to "lower" the dollar? Printing of money does just that, but the US presses would have to compete with the foreign ones (Japan, Europe). Perhaps lowering the discount rate would be positive for gold. Equity market would love it! I have often wondered, where is all that foreign money coming into the US markets going? Is it being wisely & securely invested? Is there a point when the US cannot absorb anymore efficiently? I read that up to 200 billion dollars has come to the US lately from Asia. Phil