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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: John Pitera who wrote (96920)4/20/2001 3:38:12 PM
From: pater tenebrarum  Read Replies (6) of 436258
 
John, i'm keeping a wary eye on it...this crisis has potential. note that we are seeing a typical 'contagion' situation...it seems very likely to me that it will spread across all of South America.

i already smell another IMF bail-out package. oh, and Cavallo's decision to split the currency board's backing between USD and Euros is a momentous one imo...he's following that other currency board, the HK monetary authority, which has already added the Euro to the mix. this is imo the beginning of a trend that will become increasingly manifest over the coming year...namely a reweighting of CB reserve composition worldwide.
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