Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (14496)	2/7/2002 2:55:39 AM
From: Maurice Winn	Read Replies (2) of 74559

Well Jay, [if you are still there and not off on your holiday just yet], I'm now the proud owner of a Tonka Truck full of Global Crossing debt. It was expensive at 4.25c per unit, but I guess that's the price I have to pay for a premium asset such as fibre wrapping the world, delivering cyberspace in bulk from continent to continent. None of that Aztec stuff yet, but I see it's nearing $300 an ounce which I dare say will stimulate a load of gold being sold off by central banks. I wonder if it'll make it to $400? I doubt it. It's already in that bubble zone where profits are purely based on the greater fool theory. Despite a lot of printing, competitive devaluation etc, the inflationary effects haven't raised the production cost to $300. So, it's a borrowed-time situation. Which I suppose is the normal human condition, so that's nothing new. I hope you have an enjoyable holiday and return refreshed for some booming, busting and recovering. [Now that the great financial collapse of 2001 didn't happen]. See how our interests are aligning. Now both wanting Global Crossing to succeed, or at least the assets to be successfully sold. It's the magic of the markets. Mqurice

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