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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: limtex who wrote (121023)	6/26/2002 8:47:01 PM
From: Maurice Winn	Respond to of 152472

<Hey if the Fed is a buyer ....ooohhhh I wouldn't like to be short anything. One big swoop and they could wipe out 3/4 of the hedge funds.> Gee Limtex, why didn't I think of that? I've been bleating on about Q-currency being a cyberspace currency backed by a range of shares as competition for Uncle Al's $. You've hit it! Uncle Al can print all the $ he likes and use it to buy a vast array of US stocks at distress prices. Hong Kong's government did exactly that during the Great Financial Panic of 1998 when the Hang Seng went to 6,000 or so. They made out like bandits and the Hang Seng subsequently went to 16,000, now down to 10,000. His business is the US$ and he will do as all business people do [or are supposed to do anyway]. He'll maximize the value of his assets. He can do that by getting better backing for the US$ than "In God We Trust", which is basically a promise from Bill Clinton or whoever happens to be in charge at the time. Some people don't think Bill Clinton's or other politicians' words are worth putting their life savings on. Gold is passe as backing. It costs too much to dig up and just sits there stupidly. Shares on the other hand represent real productive value. As you say, one swoop and he can wipe out a LOT of hedge funds and others betting against the Fed. He can print all he likes and use those freshly printed $$ to buy shares which drop into his buy range. I think I had better listen and read carefully what Uncle Al is saying about share prices and stuff. He has certainly done a good job of lowering the boom on the irrational exuberance of the late 20th century and he has done it without causing an uncontrolled implosion into a black hole. Most people wouldn't know there has been a sharemarket smashup. They are going to work, buying a Subway for lunch, gassing up the tank, sitting in traffic jams, making calls and paying the mortgage. Maybe they look at their 401K or whatever they have and thinking it's not what it was, but retirement is way over the horizon anyway. GDP hasn't dropped. The economy is ticking along okay. Not even a recession, let alone a depression. No inflation. No deflation. All quiet on the western front. Maybe he'd like share prices to be lower still! No point paying too much. On the other hand, that would be communism! The USA isn't as pure about trade barriers, communism and stuff as they like to pretend, but I doubt that the government going into the share owning business as money backing would get a pass. So the coast is clear for a company like QUALCOMM to set it up. Maybe Japan will do it. They'd like the yen to become the global currency. Somebody will do it. It's a matter of who. Mqurice