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To: Hawkmoon who wrote (88799)	3/19/2001 3:23:05 AM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 95453

<<If assets are overvalued, then someone who buys high and sells low has seen value disappear, while the person who bought low and sold high saw an inflation in their value.>> That situation only occurs in continuous markets. What happens when a stock (say...Nortel) gaps down 10 points. No sellers were involved to see "inflation in their value" save for a few inconsequential shorts, the value just left like a ghost departing a dead body. This is one meaning of the term "gone to money heaven". As Tommaso put it: Cash does not have to change hands for values to change. That is true of any market suddenly bereft of liquidity, be it equities, Turkish bonds, real estate or whatever. Few win, many lose as the value of their holdings are slashed. Money heaven.