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To: NOW who wrote (188963)	8/21/2002 9:27:00 PM
From: Mike M2	Respond to of 436258

Too early, NO . I should have said they are out of effective options which will have a sustained effect. I do suspect we may a "surprise" rate cut prior to an options expiration for the benefit of the banksters. There are numerous options such a Fed purchases of bad corporate debt, stocks . I expect the currency markets to finally discipline AG & co. for their reckless behaviour. mike

To: NOW who wrote (188963)	8/22/2002 11:00:27 AM
From: Mike M2	Respond to of 436258

TE, from the aug. issue of the Richebacher Letter " Implicitly they ( foreigners) were the most important single group of investors fueling Wall Street's bull run. during the three years 1999-2001 , they pumped altogether $1.8 trillion into the U&S securities market, roughly half into stocks and bonds. While their stock purchases slowed in the course of last year from their extremely high levels in the boom years, they stepped up their bond purchases....Considering the miserable corporate profits, the weak dollar, the uncertainties about the US economic recovery and the accounting scandals, it is implausible that foreigners will add more dollar denominated assets to their portfolios. Nobody can be so stupid..." The richebacher Letter 808 St. Paul St Baltimore, MD 21202. mike