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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: X Y Zebra who wrote (1218)	2/3/1999 3:37:00 PM
From: Henry Volquardsen	Read Replies (1) of 3536

Doroteo, my reading of both Argentina and Mexico is that either one could dollarize at anytime. And I believe if either came under serious pressure it would happen quickly. However I expect if they don't come under pressure it won't happen for awhile. The reason being purely emotional. Regardless of how much sense it makes there is a natural resistance to giving up your own currency and ceding monetary authority to another nation. Also the growing realization that both Argentina and Mexico are prepared to take such a move if need be acts as a talisman and keeps the speculators from attacking therefore buying more time. Henry

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