Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: pater tenebrarum who wrote (1)	4/9/2003 7:09:30 PM
From: UnBelievable	Read Replies (2) of 4904

It Wasn’t For Want Of Trying "for one thing, we have just seen the traditional Japanese government fiscal year end stock market manipulation scheme fail for the first time" The dollars recent attempt to rally off the lows in March was due to massive FX market interventions aimed at keeping the N225 (and the DJX) above 8000 for the March 31 mark to market parody. I'm sure that Al appreciated this effort, particularly the week of March 17 when he flooded the market with dollars to slap down the bond market, and thereby get all those asset allocation programs to start pulling money out of debt and into equity. I think March represented a new level of coordination of the market intervention (manipulation) efforts on the part of the G7 (or at least some of them, anyway). Under the mantle of national security Gold, Oil, FX, Debt and Equity all got "fixed". If such efforts could actually do anything we wouldn't be entering a global economic winter. While Sec. Snow (you get snow in the winter <gg> made it clear that he was more than OK with the devaluation of the clownbuck I expect that before long he is going to have a new appreciation of the dangers of having prayers answered. While Mr. Busch mad it clear to the world that the US is willing to act unilaterally in its own interest, without consideration for the rest of the world's opinion. I wonder if the impact of this on other countries willingness to continue to use dollars as their main reserve currency was considered. The attempt on the part of the world's central banks to "diversify" their reserve holdings, combined with the Fed's current policy manifesto "inflate or die" will help ensure that the dollar continues to seek its true value. I wonder at what point those countries that do not agree with the US realize that they can achieve much more by selling dollars than they can by bombast and rhetoric at the UN. Not with standing the above Gold suks.

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