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To: NOW who wrote (27800)	10/13/2000 12:59:06 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

you are of course right. however, the dollar is also the world's reserve currency, which adds yet another variable to the equation. i personally think the Euro will succeed (it took some time for me to get around to that view...what it took was the growth of the Euro denominated capital market - it spells irreversibility), and therefore may supplant the dollar to some extent, which would by itself force a re-alignment of the exchange rate. i also think Duisentwit is more conservative and responsible than the merry pranksters by several orders of magnitude...must be the nearness of the BuBa. it will be interesting to see what happens if both Japan and the US should try to go the devaluation route...how else but via devaluation can the current account deficit be reigned in? and Japan may well conclude an inflationary weaker Yen might be a good idea too. i think the strong Yen was a concession to help alleviate the Asian crisis... however, i agree that if push came to shove and Al had to make a decision whether to support stocks or the dollar, the dollar should come first. he's after all the guardian of the currency of which he prints so much, and not the guardian of stocks. officially, anyway. problem is, stocks and the dollar seem very much intertwined at this stage. an interesting conundrum, which i have given a lot of thought already... let's come back to this topic tomorrow evening...it's already a bit late in my neck of the woods... good night!