Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (33754)	11/3/2000 7:09:12 PM
From: patron_anejo_por_favor	Respond to of 436258

Is it me or does it sound like Somewhere's is talking out of both sides of him mouth as far as the ClownBuck is concerned? cbs.marketwatch.com U.S. reacts to new euro intervention Summers keeps up the drumbeat for strong dollar By Rachel Koning, CBS.MarketWatch.com Last Update: 10:44 AM ET Nov 3, 2000 NewsWatch Latest headlines WASHINGTON (CBS.MW) -- The United States remains concerned a weak euro may have broad negative implications for the global economy, Treasury Secretary Lawrence Summers said Friday. Still, the world's largest economy is not about to abandon its strong dollar policy, he said in a statement after the European Central Bank acted alone in foreign exchange markets earlier Friday to prop up a beleaguered unified currency. See full story. After the action, the euro climbed to about 88 cents on the dollar. More recently in forex trade, one euro was worth about 86 cents. The cross reached a fresh historic all-time low again last month near 83 cents. In September, the ECB, the Federal Reserve, the Bank of Japan and other central banks acted jointly to help the ailing euro. "We share the concern expressed by the European Central Bank in the context of its action today in the exchange markets about the implications of the broad movements in the euro for the world economy," Summers said. "We reaffirm our commitment to the (Group of Seven) statement of Sept. 23, 2000 and our longstanding strong dollar policy." Finance ministers and central bankers from the world's seven largest industrialized economies voiced their concern for the euro's low levels when they met in Prague in late September and encouraged more of the domestic-demand led growth measures under way in the nations that share the common currency. Note to Larry: Strong dollar=Weak Euro! Weak Dollar=Strong Euro!! Any questions?