This seems contradictory to other actions by Japan, as this would serve to attach more real value to the yen when they have been working to get the yen cheap relative to the dollar. I guess I'll believe it when I see it.
Dan, why would they make it public at this time? If they were going to add a significant amount of gold to their holdings, wouldn't it be prudent to announce that fact after the purchases? What do think the motive is in making these statements now?
Doesn't this announcement also cross the Central Banks attempt to strengthen the dollar by buying US Treasuries? What is your drift on all of this?
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