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To: Les H who wrote (182334)	7/23/2002 10:02:41 AM
From: Giordano Bruno	Respond to of 436258

9:37am 07/23/02 [FNM] FANNIE MAE TO EXPENSE ALL STOCK OPTIONS

To: Les H who wrote (182334)	7/23/2002 10:03:48 AM
From: who cares?	Read Replies (1) \| Respond to of 436258

Excerpts from Value Line's Phil Orlando's closing speach on CNBC just now "Fundamentally this market is 35-40% undervalued." (so we need Dow 11-12K, ROFL) "Use whatever cash you have left to find some good stocks and hang in there" (cash you have left after losing your ass listening to him in the past I guess)

To: Les H who wrote (182334)	7/23/2002 10:27:00 AM
From: Les H	Read Replies (1) \| Respond to of 436258

Dollar hegemony is a structural condition in world finance and trade in which the US produces dollars and the rest of the world produce things dollars can buy. In 1971, the late US president Richard Nixon abandoned the Bretton Woods regime of a gold-backed dollar and fixed exchange rates to stop the gold drain from the US Treasury caused by chronic lapses of US fiscal discipline. At that point, the dollar, as a fiat currency, theoretically abdicated its reserve-currency status for world trade. Yet for more than three decades since, the dollar has remained the reserve currency for world trade despite continued chronic US government and trade deficits and the transformation of the United States into the world's most indebted nation. Notwithstanding its role as the leading proponent of market fundamentalism, the United States maintains a strong-dollar policy as a matter of national interest, in defiance of market forces. A reserve currency for world trade without the necessary disciplinary backup is in reality a tax by the issuing sovereign on all other sovereigns participating in world trade via that currency. more at... atimes.com why a crash would be good for the United States economy? atimes.com