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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: pogbull who wrote (16105)	7/20/2002 12:44:49 PM
From: Jim Willie CB	Respond to of 36161

trouble is: what is money anymore? it is legal tender only we have embarked upon a shakeup of the world currency system and consequently of the world banking system when Brazil defaults (by late autumn), the focus will become more clear health is described now in terms of how much debt can be serviced, floated, and spent... not how much can be saved, what can be produced debt-based economies dont endure liquidations and deflationary episodes not only will curbs and PPT action draw out the process but the unerring tendency of the currency markets to overshoot at least 3-4 years beyond the mean will ensure the USdollar will see the 80's and possibly 70's on the trade-weighted index now at 104 flat and in danger of falling to the next support level of 97 Art Cashin of CNBC expects Dow to careen to 7400 fast / jim