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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: smolejv@gmx.net who wrote (3046)4/15/2001 2:30:38 PM
From: westpacific  Read Replies (1) of 74559
 
No the DM is being exchanged for houses in Spain. In counties like these there is lots of black money in real estate exchanges.

Once washed - it becomes clean money.

I know, was in Spain in December and looked at real estate while there. The Germans have priced the locals right out of the market and that market has exploded in prices and rampant building.

But your right - the same happening with the US Dollar. The Germans, French and others have lots of cash to wash. And this is a way for the government to source out this cash in the economy. Real nightmare for many of those folks.

West
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