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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Merritt who wrote (2126)9/29/1999 1:51:00 PM
From: Paul Berliner  Read Replies (3) of 3536
 
It's certainly worth noting that one major name in particular is absent from the European Central Bank announcement - the U.S. Not that the U.S. was going to dump gold (though it has been suggested here & there), but the announcement would've carried even greater weight had the U.S. been among the countries involved - it would truely have then been a 'show of force' so to speak. Consequently, I reckon that the U.S. was just as surprised about the announcement as we speculators were - i.e., they didn't know about it at all. How can they not know? If the secret was kept from them, maybe it was because of a vendetta that these countries secretly have against the U.S. They are jealous of our prosperity and want to force a bear market here anyway they can. If such an event occurred, they would no doubt be negatively affected themselves, but only in the short term. In the intermediate & long term, they would benefit from a worldwide re-allocation of assets out of the U.S. and into Europe and other countries that have been dissed by the U.S. Bull.

I;m always a conspiracy theorist. The above rant is the jist of what I have deduced from this weekend's events, and until more information becomes available I believe the theory holds water.

If anyone has seen any comments by U.S. Fed officials regarding this weekend's announcement, I'd appreciate reading them.
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