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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: FJV who wrote (18628)	6/18/1998 2:40:00 PM
From: IQBAL LATIF	Respond to of 50167

FJV-- Thanks for your very kind remarks. Now one intervention is not going to help I totally agree this. But 6 billion $ intervention is a message to the markets indicating them the comfort levels of $/Yen.This is a kind of indicator that Rubin a master of timing ( he knows when to get the best for his buck) and a shrewd trader has inflicted a painful blow to the speculators. Now as you know that MOF selling $'s buying Yen will give a different kind of message to the market rather it would be conter productive the guys would think that Japanese banks need fresh injections any such intervention from Japanese side alone would be read in different light but Fed action on behest of the treasury may put a cap to this move around 151 level. I will come back to you on liquidity trap and why I think Japanese will be able to escape from this crisis. Low interest rates in my opinion is biggest subsidy to banks. Sleep on it we will talk in the morning as I get up it will your 12.00 in the night.