"BOJ GOVERNOR MORINAGA AT REGULARLY SCHEDULED PRESS CONFERENCE
NOV 10 DENIED PRESS REPORTS THAT JAPAN HAD PURCHASED GOLD
THROUGH THE BIS IN CONNECTIONWITH THE LATEST IMF GOLD AUCTION.
IN RESPONSE TO A QUESTION ABOUT A REPORT IN THE LONDON
FINANCIAL TIMES THAT JAPAN HAD MADE SUCH A PURCHASE,
MORINAGA ISSUED WHAT IS INTERPRETED BY THE PRESS AS A CLEAR
DENIAL. HE IS REPORTED AS ADDING THAT THE MATTER OF JAPANESE GOLD
PURCHASES IS A PROBLEM FOR THE FUTURE AND NOT YET DECIDED.
HODGSON"
Source: https://www.wikileaks.org/plusd/cables/1976TOKYO16754_b.html
"1. MIN FIN OHIRA TOLD A LUNCHEON AUDIENCE, JAN 21, THAT
AT THE PRESENT TIME THERE IS NO NEED, AND THEREFORE JAPAN HAS
NO PLANS, TO BUY GOLD (FROM BIS) THAT IMF WILL BE SELLING.
THIS HAS BEEN WIDELY REPORTED IN THE JAPANESE AND ENGLISH
LANGUAGE PRESS.
2. IT IS A REITERATION OF OHIRA'S STATEMENT TO THE PRESS
FOLLOWING THE JAMAICA IMF MEETINGS. AT THAT TIME HE WAS ALSO
ASKED WHETHER JAPAN WOULD REVALUE ITS GOLD STOCK AS A RESULT
OF THE INTERIM COMMITTEE DECISIONS. ACCORDING TO THE
NIHON KEIZAI SHIMBUN OF JAN 11, HE SAID: "WE INTEND TO
CHECK INTO THIS. AS FOR THE PROBLEM OF HOW WE SHOULD
ASSESS THE GOLD IN THE FORM OF FOREIGN CURRENCY RESERVES,
FRANCE, FOR INSTANCE, INTERNALLY ASSESSES THE GOLD AT
THE MARKET PRICE. IN THE CASE OF A RPORT TO THE IMF,
GOLD IS ASSESSED AT 35 SDR'S PER OUNCE. IN THE FUTURE,
JAPAN MAY SHOW ITS FOREIGN CURRENCY RESERVES IN THE
FORM OF: (1) SO MANY DOLLARS IN FOREIGN CURRENCIES, AND
(2) SO MANY TONS OF GOLD."
SHOESMITH
Source: https://www.wikileaks.org/plusd/cables/1976TOKYO00963_b.html
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