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Technology Stocks : Globalstar Memorial Day Massacre -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (217)	5/22/2000 5:46:00 PM
From: Maurice Winn	Respond to of 543

Jon and Eugene arguing over who publishes a beige book on money supply in the Buy Range Rave Zone [I checked it out today and didn't think there were many posts worth reading, but this was [along with Jon's]: For a bit of context, I left all the post, but the bold part is the interesting part in reference to the GGMDM discussion. <To: Eugene Kearney who wrote (72105) From: ole 49r Monday, May 22, 2000 9:56 AM ET Respond to Post # 72106 of 72152 We could plot money growth from last week to this week and show darn near ANY conclusion you like. The truth is the truth, and a much longer view of money growth is needed in your "model" before you will find staggering evidence to support claims of staggering money growth. You'll find you've embarrassed yourself if you would plot same over last, oh, let's be generous...how about 20 years. It would appear you are a neophyte in this discussion. I was around as a trader when the market would hang on every Thursday's money supply growth number release and 30 year bond would tank or rally obscenely based on that weekly variaton. Nowadays, people are pooh poohing the 30yr benchmark. Then Volker/Greenspan decided that that measurement contained too much whatever, and decided to start measuring money growth by other measures. Besides, the poliferation of derivative instruments traded in the massive OTC market has now significantly impacted to the staggering side the increase in "money" supply. This fact has skewed even the actual currency printing numbers to the low side of staggering...remember, the reason why the FRB regulates shorting practices is because shorting "creates money" out of thin air so to speak, but not anymore than exotic derivs. Back to the books, Kearney...but you are at least trying to understand, and that garners points in EVERYONE's mind. Have a Great Day but I won't be discussing this further with you since you have such an abysmally short frame of reference/blinders on. It's a waste of time and bandwidth. Cherrio So folks, we should help the Fed rescue the financial condition of the world by restricting the dreaded hypothecation and damaging, arbitrary and manipulative short selling which has distorted a free and fair market in Globalstar stock. Short sales are NOT sales of stock. They are sales of 'borrowed' stock which the seller doesn't own. Will the Fed and SEC perhaps send us all cheques for service to financial stability over and beyond the call of duty? While the Fed is tightening and raising interest rates, this manipulation has arbitrarily caused stock prices to fall, risking economic mayhem. Globalstar share owners and indeed all share owners, can help rescue the world's economy by dehypothecating. I think we should extend our dehypothecation to ALL stocks on Memorial Day. Have a Great Worldwide Memorial Day Massacre. That will help Alan Green$pan tighten liquidity, without the consequential economically damaging freefall in the stock market. Interest rates AND stock prices can go up. Nobly, Mqurice