11:00 PM U.S. EST 1/3/1999 Tokyo mkt & $...falling fast

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The Tokyo Stock Exchange and U.S. $ are dropping fast in morning trading (Japan 10:00AM January 4, 1999). Exchange is short seesion today but TSE off almost 3% and fears of US economy driving $ lower

-- PNG (png@gol.com), January 03, 1999


PNG - anything to do with the Euro???

-- Andy (2000EOD@prodigy.net), January 03, 1999.

geez, black monday? And to fuel the fire everyone snowbound this weekend got their fill of football and Y2K reports.

How about Hong Kong precious metals market?

MoVe Immediate

-- MVI (vtoc@aol.com), January 03, 1999.

Sorry 8 PM EST.

Nothing to do with Euro. Euro is up slightly against yen and dollar original set price. Euro trading seems smooth with no problems

-- PNG (png@gol.com), January 03, 1999.

It is not "Black Monday." It is a sign that market impression of U.S. economy is down. The decline in the dollar will mean large international Japanese Blue Chip companies will lose more money because of the exchange rate and Japan economy will further deteriorate.

Japan Times (not online) confirms in special report this morning that Japanese company pension funds may be underfunded by:

$700 billion.

That's a "B" not an "M"...$700,000,000,000.

-- PNG (png@gol.com), January 03, 1999.

Welcome back PNG! Got out of the market weeks ago. Just had that gut feeling.

-- bardou (bardou@baloney.com), January 03, 1999.

Thanks PNG!

Be as well as possible!! Our thoughts are with you and the Japanese people in this.


-- Diane J. Squire (sacredspaces@yahoo.com), January 03, 1999.

"How about Hong Kong precious metals market? "

1/3/99 spot prices as of 20:16 New York Time:

Gold: 288.70 Platinum: 362.00 Silver: 5.04

-- Rob Michaels (sonofdust@net.com), January 03, 1999.

Thanks for the info! Is the a great forum or what? ;-)

MoVe Immediate

-- MVI (vtoc@aol.com), January 03, 1999.

ditto bardou, Thought I made a mistake getting out and the market kept going higher, but also had the same gut feeling. Now if I only had the nerve to cash-in the 401k.

-- lparks (lparks@eurekanet.com), January 03, 1999.

"Nikkei Falls 2% In Early Trade On Yen Firmness"


-- Kevin (mixesmusic@worldnet.att.net), January 03, 1999.

"Japan Times (not online) confirms in special report this morning that Japanese company pension funds may be underfunded by: $700 billion. That's a "B" not an "M"...$700,000,000,000. "

...and the American company pension funds (401Ks) will not end up faring much better.

-- a (a@a.a), January 03, 1999.

Humm. Wonder if this is part of the CNN factor? They're watched globally and have aired an amazing number of Y2K oriented stories over the past several days.

PNG, do the Japanese watch CNN programming? Do you?


-- Diane J. Squire (sacredspaces@yahoo.com), January 03, 1999.

"Tokyo Stocks Plunge"


-- Kevin (mixesmusic@worldnet.att.net), January 03, 1999.

Tokyo down 3.08. Hong Kong down 2.07!

-- lparks (lparks@eurekanet.com), January 03, 1999.

Keep in mind that US military spending is going to be dramatically increased ( the Reagan stimulus), and the fed stands ready to cut interest rates again in its "proactive" posture. I would not underestimate the power of denial to keep the ball rolling throughout '99, with some dramatic mood-swings, of course.

-- Joseph Danison (jdanison@aol.com), January 03, 1999.

Please secure your helmets, make sure that your anti submarine strap is included in the fastener of your five-points belts, tighten the straps to the point of security and uncomfortability prior to giving your ticket to the conductor.

to embellish on someone else.


-- Chuck, etc (rienzoo@en.com), January 03, 1999.

Hey Chuck!................................Do ya wanna take a ride?

-- c (c@c.c), January 03, 1999.


I also heard that defense spending is slated to increase but you should consider that the initial increases will go toward bolstering systems and personnel already dangerously low and short in funding and in rebuilding stockpiles. The initial increase is to be somewhere around $16 Billion which is really nothing. I don't think the market would take this into account any time soon.

What's very scary is the Tokyo Stock Exchange being off over worries about the "U.S. economy". This is a big, scary deal. Could this mean they are losing confidence in the dollar and the ability of the U.S. economy to continue to grow?

Mike =============================================================

-- Michael Taylor (mtdesign3@aol.com), January 03, 1999.

LParks: Don't have the nerve yet to cash in the 401K. It's a damned if you do and damned if your don't situation. However, the money is not in stocks, but in bonds and securities. I haven't another choice. I refuse to give the government anymore of my money than I have to. I definately won't buy gold or silver because I can't eat either one of them. All the predictions that I was seeing early in 1998 said that by late 1998 or early 1999 that gold and silver would soar in price. I haven't seen that happen yet.

-- bardou (bardou@baloney.com), January 03, 1999.

Bardou: you can't eat gold or silver but you can certainly trade them to someone else for food, medicine, ammo, diesel fuel, and a hundred other things you'll need in 2000 and beyond.

-- cody varian (cody@y2ksurvive.com), January 04, 1999.

"Nikkei Ends First Session Of 1999 Down 3.08 Pct" http://nt.excite.com/news/r/990104/00/business-japanstocks

On gold and silver: it's hard to spend and it's hard to spend in the amounts you need to. The only thing that matters during the first few weeks of 2000 is heat, water and food you've already stored. It would be hard during this early period to buy heat, water and food with gold or silver. Cash will work for awhile.

The value of gold and silver is in an extended TEOTWAWKI scenario. It's a way of concentrating lots of assets into a small space. It's great for the spring and summer of 2000 and major purchases that need to be made then.

I just don't think gold and silver will be of much use to anyone in January and February of 2000. Heat, water and food come first. Cash and practical barter items (toilet paper, matches) come second. Gold and silver are for the long haul.

Just my humble opinion.

-- Kevin (mixesmusic@worldnet.att.net), January 04, 1999.

>Just my humble opinion. <

Mine too Kevin.

A small question of priorities and perspectives. At least that's the way I have it all planned out, we shall see how it really plays out come "Showtime".


-- sweetolebob (La) (buffgun@hotmail.com), January 04, 1999.

I don't plan on bartering. At one point I was thinking about buying booze, cigs, etc. But really, who will want or need these items, these are not survival items, but luxury items that are of no real value to anyone who is hungry. I will need all the fuel, matches, and food I can get and keep. If down the road things ease up and I see things begin to turn around, then maybe I'll barter. I'm preparing for the worst and holding on to what I have. Cold cash is what you will need to sustain yourself for trade, in the beginning anyway.

-- bardou (bardou@baloney.com), January 04, 1999.

PNG ! Good to see you back. Your input on these forums was greatly missed.

I have not purchased any gold either. I'm sticking all available cash into survival items like FOOD. I have the feeling dollars will be more useful than gold.

-- Dave (dave22@concentric.net), January 04, 1999.

Hey Chuck!................................Do ya wanna take a ride?

-- c (c@c.c), January 03, 1999.

Nobody on THIS bus has a choice!! (FIRESIGN Bozo)


-- Chuck, night driver (rienzoo@en.com), January 04, 1999.

Dow up here. 12:11

-- Moore Dinty moore (not@thistime.com), January 04, 1999.

As someone who no longer has the income to maintain a savings account I wont worry about gold or silver coins. I can see how someone who had lots of cash in accounts would want to put them in something more tangible than a promise to pay.

For me, any money I can spend, I do so on supplies. Anything that is a necessity will have value if things get really bad. If that happens it will take some time so having a little extra cash seems like a good idea to me.

Mike ===============================================================

-- Michael Taylor (mtdesign3@aol.com), January 04, 1999.

If you don't plan on bartering, it means you know you'll plan perfectly and have exactly everything you need for any situation that arises.

You may not need to stock up on toilet paper, cigarettes or booze but you should certainly try and have significant excesses of several things that you can then afford to part with. Trading "excesses" will cover the shortfalls, wherever they turn out to be.

If you don't smoke nor drink yourself, that's good. But you should understand how much those items would be worth to those who do. Some would trade off food for either. Of course; you'd be a cad for taking it but to each his own I guess.

There *will* be times when others have a lot of ___?___, while you have none..., but need!


-- Floyd Baker (fbaker@wzrd.com), January 04, 1999.

Glad you are back. Need an insiders perspective. CNN says Japan on road to recovery. Y2k reported to be on track and no problem for year 2000 deadline. Latest financial bulletin says Japan turning around. Going to flood bond market to stimulate economy. Keep your posts coming.

-- anonplease (techguy@anon.com), January 04, 1999.

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