OTCQX:MRVFF - Post by User
Post by
eagle55on Mar 27, 2002 8:30pm
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Post# 4934586
Valid reason for POG momentum
Valid reason for POG momentumOne of the former governors of the central bank in Japan mentions the possibility of devaluation of the yen in a recent article (last Saturdays' issue)in the Globe & Mail.
The scenario, he believes, is that the Japanese gov't would create a new currency and swap 100 new yen for each 120 old yen. No wonder the Japanese have been large bullion buyers lately.
If you were holding yen, wouldn't you rather put your money in gold which is valued in US dollars than risk losing 20% possibly overnight.
When you add the potential "gold rush" this economist considers possible to the other debacles in the financial community, Argetina, Enron, etc., I think we're in for quite a rise.