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Microcap & Penny Stocks : DGIV-A-HOLICS...FAMILY CHIT CHAT ONLY!!
DGIV 0.00Dec 5 4:00 PM EST
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To: bRiAn who wrote (23442)8/27/1998 11:35:00 AM
From: Ronaldo  Read Replies (3) of 50264
 
The Russia card is being overplayed. If you would fly into Moscow right now with very few U$S you could do/buy whatever you want.

The rouble is not a currency, or has ceased to be, but that is a problem for the poor people living in Russia. The rich russians have their swiss accounts, their villa's in Spain or southern France, and probably have made a killing with the latest devaluation. Their problem is that they will have to double the # of bodyguards they have.

The german banks had the biggest exposure in Russia. It so happens that all those loans are insured by "Hermes" up to 85% of their original value. Hermes is a state insurance where exported loans or goods can be insured.

So basically the german taxpayer financed this last "party". The german government won't let go so easily of this debt and will end up trading it for assets that are of strategic interest for them Iin Russia).

Whatever happens to that debt won't make much of a dent on Germany beyond these short terms reactions.

I bet the russians will continue paying the hard currency part of their phone bills because they can't afford to go without comunications (not paying their finantial debts is another story).

IMHO the situation in Russia is being used to generate buying opportunities.
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