SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?


To: Merritt who wrote (2126)9/29/1999 1:51:00 PM
From: Paul Berliner  Read Replies (3) | Respond to of 3536
 
It's certainly worth noting that one major name in particular is absent from the European Central Bank announcement - the U.S. Not that the U.S. was going to dump gold (though it has been suggested here & there), but the announcement would've carried even greater weight had the U.S. been among the countries involved - it would truely have then been a 'show of force' so to speak. Consequently, I reckon that the U.S. was just as surprised about the announcement as we speculators were - i.e., they didn't know about it at all. How can they not know? If the secret was kept from them, maybe it was because of a vendetta that these countries secretly have against the U.S. They are jealous of our prosperity and want to force a bear market here anyway they can. If such an event occurred, they would no doubt be negatively affected themselves, but only in the short term. In the intermediate & long term, they would benefit from a worldwide re-allocation of assets out of the U.S. and into Europe and other countries that have been dissed by the U.S. Bull.

I;m always a conspiracy theorist. The above rant is the jist of what I have deduced from this weekend's events, and until more information becomes available I believe the theory holds water.

If anyone has seen any comments by U.S. Fed officials regarding this weekend's announcement, I'd appreciate reading them.



To: Merritt who wrote (2126)9/29/1999 8:22:00 PM
From: Henry Volquardsen  Respond to of 3536
 
good article

there is a convincing arguement that can be made that the Europeans took this action mainly to support the IMF.