Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: smolejv@gmx.net who wrote (3046)	4/16/2001 4:26:01 PM
From: Rene Debets	Read Replies (1) of 74559

Black money doesn't have anything to do with the euro-dollar exchange rate. Everybody with black money has accounts in either Switzerland or Luxembourg in the currency of the country they live in. Next January all these accounts will automatically be converted into euros. Only cash will be a problem because you have to go to bank and change, which would lead to a suspect transaction, but that is true for a conversion into dollars just as well. So there is no need or advantage to convert your money into dollars or any other currency, unless you believe the euro will not do well. A lot of magazines in Europe are detailing these 'how to' issues since about two years.

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