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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: marek_wojna who wrote (20612)6/30/2002 4:14:59 PM
From: Raymond Duray  Read Replies (1) of 74559
 
marek,

Re: AG might be on his way to kill the chick who brings the golden eggs.

Killing off the markets is the order of the day. Here's a very interesting bit of information on a major revision of history that will have a devastating effect on public confidence in U.S. markets:

morganstanley.com

Roach says important things in "House of Mirrors". Once the re-statements are announced and widely disseminated, the U.S. markets are going to be exposed as a fraud for the last four years. So much for America's high handed preaching to the world about our superior ways.

Re: Another possibility is Fed. simply printing and buying without disclosing it anywhere,

The Working Committee on Financial Markets, euphemistically called the Plunge Protection Team appears to have been in a real frenzy last week. And yes, the accounting for the infusion of the FRB's capital via favored broker-dealers like Goldman-Sachs and Merrill can be easily hidden from the public. The place to watch for their intervention has recently been via index futures markets.

Re: Should they be so stupid to participate in another delay of execution giving the chance for others to unload?

It is human nature for many if not most investors to "stay the course" to their detriment in these sorts of markets. The FRB, and Wall Street traders both attempt to take advantage of this pecadillo.

-Ray
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