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To: smolejv@gmx.net who wrote (3046)	4/15/2001 2:30:38 PM
From: westpacific	Read Replies (1) \| Respond to of 74559

No the DM is being exchanged for houses in Spain. In counties like these there is lots of black money in real estate exchanges. Once washed - it becomes clean money. I know, was in Spain in December and looked at real estate while there. The Germans have priced the locals right out of the market and that market has exploded in prices and rampant building. But your right - the same happening with the US Dollar. The Germans, French and others have lots of cash to wash. And this is a way for the government to source out this cash in the economy. Real nightmare for many of those folks. West

To: smolejv@gmx.net who wrote (3046)	4/15/2001 7:24:10 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Thank you DJ for the view on Euro. I used to hold deposits in DM, because of the industrial nature of the Germans, their attitude towards debt and the way their central bankers worked. In Hong Kong, Euro deposits have been offered when Euro was first introduced, though only for fixed deposit [the bank also offers fixed deposits in Canadian, Australian, New Zealand Dollars, Pound sterling, Franc, along side the USD, DM and Yen - Hong Kong is pretty democratic when it comes to money]. I expect that the world ex-Euro states will hold more Euro as reserve currency than their previous holdings in DM and Franc (I am not aware of any other Euro currency seriously held as reserve), and if so, Euro will succeed for at least a while. I am not sure of the Pound as a reserve currency now ... maybe they are no longer treated as such at all; in any case the Pound is not Euro-ed, yet, if ever. Chugs, Jay

To: smolejv@gmx.net who wrote (3046)	4/16/2001 4:09:52 PM
From: Yaacov	Read Replies (1) \| Respond to of 74559

curious post!!! I believe the author has ignored one factor: Euro is politicized currency, unproven and unseen by the people in Europe. It is sort of a virtual money, and virtual money gets no respect! That makes ECB a virtual bank, with no autonomy, and no independence. Its Chairman has to dance to the tune of various members, that are not equal but act as they are! I live and conduct business both in Europe and the United States. I believe the Euro will fall further against US Dollar, regardless of crisis in the US Equity market. Just look at the past year, there is a slow down in the US and we still have Euro loosing against the USD! As for Brits, who can blame them. They have a good currency and good economy, they will not give it up for fistful of flies.

To: smolejv@gmx.net who wrote (3046)	4/16/2001 4:26:01 PM
From: Rene Debets	Read Replies (1) \| Respond to of 74559

Black money doesn't have anything to do with the euro-dollar exchange rate. Everybody with black money has accounts in either Switzerland or Luxembourg in the currency of the country they live in. Next January all these accounts will automatically be converted into euros. Only cash will be a problem because you have to go to bank and change, which would lead to a suspect transaction, but that is true for a conversion into dollars just as well. So there is no need or advantage to convert your money into dollars or any other currency, unless you believe the euro will not do well. A lot of magazines in Europe are detailing these 'how to' issues since about two years.