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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (182707)7/23/2002 11:21:27 PM
From: GraceZ   of 436258
 
I am trying to discern why the dollar would bounce so much, with our markets melting.

Everybody's markets were melting, so what currency to run to? A blast of deflation, gold takes a hit and where are you going to hide out?

The dollar falling was suppose to cause rising prices and inflation here in the US but it has had the effect of adding to the downward price pressure already in place in the countries we import from, they took the dollar hit instead of passing it on to us. Oil was the exception....and it broke. The only way Opec has any control over oil is at lower prices because the Russians and the South Americans are looking to pump as much as they can get away with in an environment of falling demand, the only way to keep them in line is to go down in price to where they are no longer making money.
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