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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (51792)	9/24/1999 10:02:00 AM
From: Richard D	Read Replies (1) \| Respond to of 95453

It only works if the dollars goes down, generally worldwide, as opposed to just the yen going up. More specifically, the dollar would have to go down vs. the exporters' currencies. Will that happen? I don't know, but they seem to be hyping the trade deficits these days. The general cure for trade deficits is to devalue the currency, which of course is taken care of by the market in the case of the dollar (though intervention occurs occasionally.) If you consider that we should have something of a deficit with the oil producers (because the oil imports create a trade imbalance,) we may devalue relative to those countries. In the past the trade deficit was made up by selling F-15's, etc. to the likes of Saudia Arabia, etc. I don't know how much of that we're doing these days. Richard