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To: High-Tech East who wrote (59623)	9/30/2000 9:08:00 PM
From: Zeev Hed	Respond to of 99985

Poor Summers, he can't win (g). If he manages to support the Euro, he is an "interventionist" and of course he will "damage" the dollar and the market, if the intervention does not succeed, he is wasting important (how many billions?) tax payers resources. As far as I am concerned, the intervention was the right thing to do here and now, not only as a response to "friendly requests", but it is not in the US interest to see the Euro fall apartm and destabilize Europe. If anyone think that a bounce of the Euro bacl to even the mid $.90 will have an impact on the "flow of funds", I think this is an error. Stability is probably the best thing, unfortunately, we may not have it, because, as I have posted here before, the concept of a European monetary arm decoupled from the fiscal national actions is just not workable. I have no idea how you "undo" this mistake, maybe the best way is to reduce the Euro' base gradually (reconvert a lot of it to national currencies) and leave a small monetary basis that can be used for injection and soaking procedures when specific nations in Europe find themselves at extremes in economic fortunes. Zeev

To: High-Tech East who wrote (59623)	10/1/2000 11:00:04 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

What is not common knowledge and NONE of the politicians have the nerve to talk about it when it comes to the oil crunch is that the big oil companies lobbied and got the right and began exporting Alaska oil some years ago. ---- It's a not a Rob Peter to Pay Paul situation..it's a Rip off of both and every one else they can shaft. --- I'm retired now but at one time I worked as a Cargo Super on a 35K DWT tanker that took bunker and supplies out to the Super Tankers. Never have we had an oil shortage that wasn't contrived and orchestrated by BIG OIL. When people were caught up in lines at the gas Stations whole fleets of super tankers were fully loaded and offshore simply sitting on anchor. --- If I were to get into the corruption of Big Oil taht I have witnessed this post would be too long for anyone to want to read, and I've already learned it wouldn't do any good or change anything. -------- We never needed a strategic oil reserve to start with, that has been a huge rip off. It was set up when oil companies were cutting production and capping wells as fast as they could. The reserve could have been built into the way the ones who make all the profit are allowed to produce instead of spending billions and billions of dollars to create storage and maintain it ( what a joke ) The reserves were already in the ground and a cap on production except in an emergency would have had the effect of creating reserves with out all the expense and the burden would have been put on the profiteers in oil instead of the tax payers. However the OIL Lobby saw to it that we never got any politician who would not let them steal. ------ Jim