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To: Henrik who wrote (30502)	7/12/2002 3:03:47 AM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

The weakness in the arguments predicting the end of the dollar is the lack of focus on where the funds will go. Sure, the euro and the yen may appreciate a bit but the world has as little faith in their growth potential as they do in the US at the moment. The European stock markets are falling as fast or faster than Wall Street; debt problems, accounting scandals, all the same warning lights are flashing in London and Frankfurt as New York. Is the world going to pour their money into Japan, still mired in intractable recession? Not likely. How much money can or will go into emerging markets? Not much, they lack liquidity. We are certainly seeing a shift away from "rah rah USA" but until I see the world saying "rah rah somewhere else" I expect we will all just drift in confusion.

To: Henrik who wrote (30502)	7/12/2002 7:54:09 AM
From: Tim Davies	Respond to of 118717

i dont doubt the problem with the us dollar right now, but i dont see to many other choices. Gold was given up by many governments as we have seen by the large sell off from the uk and swiss governments. I wonder who bought the gold?. Is it the same banks that own the federal reserve?. The trillions must go some place.. but where. Its nice to say gold but with a trillion in gold there would be a very high price placed on something with no intrinsic value. I am allso wondering what a conservative short position in the usd would be like. tim