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To: Henry Volquardsen who wrote (13332)	6/17/1998 3:34:00 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 116857

HV--With this excerpt of the yen saga, it seems obvious the central banks will trade inflation for deflation. Adjust your long term holdings accordingly. >>Japan and the United States agreed on Wednesday that the two economic superpowers had to act together to stop a nosedive in the Japanese yen that had sparked fears of an Asia-wide depression that could turn global. A Chinese official said earlier on Wednesday that the sliding yen could force China to devalue the yuan, the first such warning of the threats posed by the yen's slide. China has blamed both Japan and the United States for the growing crisis. The intervention marks a reversal for Washington, which had said that only an improvement in the Japanese economy would halt the yen's fall to a string of eight-year lows. It was the first time U.S. authorities intervened on behalf of the yen since February 1992. U.S. Treasury Secretary Robert Rubin said the intervention took place ''in the context of Japan's plans to strengthen its economy'' and said the United States was ready to continue the action if needed. BTW, McDonalds, the happy hamburger seller, announced it will cut 23% of it's home office staff!