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Pastimes : The Big Picture - Economics and Investing
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To: Sid Turtlman who wrote (500)12/5/1997 12:01:00 PM
From: Chip McVickar  Read Replies (2) of 686
 
Hello Sid
Would like to add another position to your deflationary picture that you
predict may begin to unfold next year.
.
Coming on-line shortly is the new currency of the European Community.
This new form of King Koonga's money is going to have to be backed, either
by the good will of the partners or buy something tangable like a basket
of commodities.
.
I do not believe that Germany will participate in a weak currency that
cannot compete with the US$. Why should they give up their historically
stronge Mark for something "screwy"....it will not happen.
.
Possibly these recent Asian devaluations and Japans monitary troubles
will be enough to convince their partners that there is a serious need to
base the currency on tangable assets, rather then the "good-will" of the
nations envolved and the strength of their economies.
.
If this should happen and become a successful messure of value, that new
currency will become a serious competitor to the US$.
And as a sound currency of last resort, based on real value - the US $
will develope a serious case of the Asian Flue.
.
I know this is a quick and some what simplistic view, but I think it bares
some watching.
.
Your thoughts please and has anyone else been following this....?
Best Regards
Chip
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