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Politics : Ask Michael Burke

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To: BGR who wrote (97036)	7/27/2002 6:40:33 PM
From: Knighty Tin	Read Replies (1) of 132070

BGR, Japan has drawn their current line in the sand at 116 on the Yen and they will defend it there until they can no longer do so, which won't take too long. It may not go back to double digits, but it won't stay above 116 for more than a month or two. Just because somebody wants a currency to do something doesn't mean it will. The simple fact is that Germany and Japan save. America does not. Japan has a trade surplus, we have a deficit. The Europeans and Asian have 100s of billions of US dollars they dare not spend for fear that it will crash even more. There is always a weakest link (probably France or Italy) that breaks and a strongest link (definitely China) that punishes them by dumping ten times harder. The dollar ain't done with its swoon yet. I still use the Swiss Franc as my currency of choice, though I am not in it at the moment. I don't like to own futures when I'm going to be out of town and not watching them. That is one big advantage you indexers have. Yours is an investment where it doesn't matter if you have attention deficit disorder. <g>

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