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To: BGR who wrote (78029)	12/3/1999 6:19:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 86076

the weak Euro boosts the export sector...and Europe is export orientated. apart from this the Euro is not an ideal currency anyway. the economies within the Euro zone are too disparate. i'd welcome a currency crisis that blows the Euro apart. if that happens, the D-mark and the Austrian Schilling will soar against the dollar and the other European currencies. you're completely mistaken about the ECB 'blowing it'. they never said they're going to raise to keep the Euro strong, the said they're doing it as a pre-emptive strike against inflation. they're also worried that the U.S. asset bubble is infecting Europe, as it is indeed doing. Duisenberg knows very well that the excess credit is flowing into financial markets, not benefiting the economy at all. if Europe can avoid the monetary excess practiced by the Greenspan Fed, there's a good chance it will come out of the looming collapse sooner. the collapse may well serve to wake up Europe's politicians as well, so it wouldn't be an altogether bad thing. in the U.S. it will probably produce wrenching changes...total chaos and anarchy could break out, leading to an autocratic regime. of course that's just speculation at this time, as the '30's proved to be relatively docile in this regard. somehow i have a hunch however that today's somewhat less morally restrained society will react a lot more violently once the riches go up in smoke. i'm happy i will be watching from a safe distance... your beloved Greenspan will land in the history books as one of the most dangerous men ever to have held the post of Fed chairman. watch how the adulation will turn to blind rage once the house of cards goes.