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To: Zardoz who wrote (18192)	9/9/1998 7:38:00 AM
From: Bobby Yellin	Respond to of 116861

biz.yahoo.com what are your thoughts..will this counterbalance the fear of that greenspan will lower interest rates..the most convincing arguments I have heard is that a weaker dollar and stronger yen will continue to bring havoc to Japan..so is this a counterbalance? wonder if Japan can pay people to borrow money next :-) All those pensioners on fixed income might really be happy now..if they are martyrs

To: Zardoz who wrote (18192)	9/9/1998 9:09:00 AM
From: PaulM	Respond to of 116861

Whoa! That could very well derail the little gold rally. The engine of recent dollar losses, yen gains and gold gains was the forced covering of yen carry positions by hedge funds. The forced covering also helped the Asian markets. That trend is called into question. I understand the deflationary problems in Japana, but I wonder what "Mr. Yen" would say about the timing? For some possible insight, check out this article, "Better than Gold" written two years ago by a Former Fed governor: "The Bank of Japan must not rest on the illusion that it's done all it can do since interest rates are below .5%.....Monetary policy in Japan remains restrictive until the yen price of gold rises." fame.org The article also argues the POG "should" be no higher than $280.