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To: Haim R. Branisteanu who wrote (29195)	1/25/2002 5:23:08 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 209892

Haim, as i said, the recent Euro drop is most likely a technicality related to the unwinding of complex derivatives positions by Spanish banks in the wake of Argentina's demise (ironically itself a victim of the strong dollar). the strong dollar ensures that the US can't escape the global deflationary vortex...something Fed governors STILL don't take seriously judging from recent comments. but they will...and it will be too late.