PNG will be publishing a shocking report this weekend on the financial dilemma facing the Japanese Retirement System. As a primer, read his report on Japanese banking,

The 50% rule

Here is the gist of it. You need to read this several times until you understand what he is saying. When you realize the problem, you will gain important insight into what is probably about to unfold in the US:

This is not a deferred payment plan. This is: "Remember that $2 billion you owe us? Well, you don't have to pay it back and we'll probably give you more cash on top of that because the government will give us the money to cover it."

My question is why are they asking the bank executives? Banks don't have any money. Towa Real Estate borrowed the depositors' money and promised to repay it with interest.

The government doesn't have any money to give to the banks to offset these bad loans. The taxpayers' money is being given to the banks to offset the depositors' money mishandled by the banks and Towa Real Estate.

-- a (a@a.a), March 18, 1999

Answers

And BTW Norm, PNG put something in your pipe for you to smoke at

Tobacco for Norm

-- a (a@a.a), March 18, 1999.

I am sorry but I don't know what PNG stands for. Thanks

-- a mom (whatispng@wondering.com), March 19, 1999.

Perky Nipple Guy.

-- qwerty (12345,678910,1112@sesamest.com), March 19, 1999.

Pretty kNowledgable Geijin.

-- humpty (no.6@thevillage.com), March 19, 1999.

can you give us PNG's web site? Thanks

-- Taz (tassie@aol.com), March 19, 1999.

http://www2.gol.com/users/png/

-- a (a@a.a), March 19, 1999.