Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: flatsville who wrote (70216)	2/22/2001 10:46:23 AM
From: LLCF	Read Replies (2) of 436258

<Their mantra belies their fear as they attempt to calm the bag...er' buck holders. There will be intervention is what they're trying to tell you. And if the Naz (or gawd help them the Cow as well) and the U$D start dropping for real in tandem the intervention will make your head spin.> This is where we disagree... to repeat. IMO, ESPECIALLY if the NASD melts with the dollar denoting a weak [to say the least] economy they will sacrafice the dollar to ease monetary policy. This is because of the prevailing view that both the U.S. [in the 30's] and Japan [over the past 10 years] persued a policy of [too] high interest rates and tight money which prolonged those downturns needlessly. I agree that 'intervention' will make your head spin... it'll be stimulative intervention... ie. lower rates and whatever else they can dream up to prop up the 'system'... the dollar will be sacrificed. You will see plenty of jawboning for sure and I'm sure the occasional "central bank purchases" at much lower levels than what we see today... but with interest rates being slashed I doubt they'll REALLY do anything effective. All JMO of course. DAK

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