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Gold/Mining/Energy : Gold Price Monitor

GDXJ 107.29

-0.9%

Dec 2 4:00 PM EST

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To: PSkars who wrote (1062)	8/4/1997 8:30:00 PM
From: John Barendrecht	of 116791

Phill, thought you might like this on peso (older article) A Tale of Two Pesos: A Comparison of Currency Policies In Mexico and Argentina cpac.org Excerpt: ÿ ÿ ÿTo put the failure of pegged exchange rates into a broader context -- particularly in developing countries, where they are almost universally used -- consider the performance of central banks in developing countries since 1971, when the U.S. closed the gold window (Schuler, 1995). The median annual rate of inflation of the 126 developing countries with central banks has been double that of the 19 developed countries. And 37 developing countries have experienced annual inflation from 100 percent to 999 percent, and 19 have endured hyperinflation of over 1,000 percent per year. In the same period, 13 developing countries have confiscated their currencies. ÿ ÿ ÿ ÿNot surprisingly, the currencies of the developing countries have lost most of their value relative to the U.S. dollar. The median depreciation has been 79 percent since 1970. And if you reside in a developing country, it is difficult to legally avoid the effects of currency depreciation because 88 percent of those countries impose some form of exchange controls.

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