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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (18510)	4/27/2002 3:22:29 PM
From: smolejv@gmx.net	Read Replies (2) \| Respond to of 74559

Q, CB: who created this mind-boggling pile of money? Why (in utilitarian sense)? Anybody (knock knock) in control? see right-as-a-stopped-clock Doug Noland at prudentbear.com Even with all the help of destroyers of quasi-substance (Enron, AOL ...) I dont think the world know how to handle this Humpty-Dumpty. dj

To: Ilaine who wrote (18510)	4/27/2002 8:46:18 PM
From: Maurice Winn	Respond to of 74559

< In 1998, global foreign exchange trading volume was about $350 trillion annually. I expect it's much more now. Completely dwarfs the volume of international trade in goods and services. All that money, sloshing around, looking for a little advantage, then moving on.> I moved all my assets [other than a house] to the USA in my little Tonka Truck. The USA made sales [via QUALCOMM] to other countries which made their market capitalisation large. I then drove my little Tonka Truck back here with some of the profits. Compared with my goods and services transactions, that was huge. So I can see that the foreign exchange moves would be something like 100 times the actual trade. Maybe not 100 times, but certainly 10x. It's almost friction-free now. It used to be illegal to move money from country to country. No wonder the trade is huge. It will get bigger still as cyberspace disintermediates the ripoff banks who still take excessive cuts and make moving money arduous. Mqurice