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To: Perspective who wrote (60293)	11/23/2002 8:46:25 AM
From: Moominoid	Read Replies (1) \| Respond to of 209892

I've been waiting a long time for the Aussie Dollar to gain in value... been making a little progress recently. Current allocation: AUD 92.10% USD 35.16% Other -27.26% Other is mainly Sterling.

To: Perspective who wrote (60293)	11/25/2002 2:32:15 AM
From: Rarebird	Respond to of 209892

A week after the FOMC meeting, on November 13, Greenspan testified before the Joint Economic Committee of the US Congress. During the question and answer period at the end of his testimony, he explained that even if American individuals and businesses continued to borrow in insufficient quantities despite the rate cut, liquidity could be provided "with virtually no meaningful limit", even at a ZERO Fed Funds rate, by purchasing assets with longer duration. This invokes the specter of unlimited debt monetization by the Fed. It also invokes the specter of rampant (some would say hyper) inflation, although Greenspan was careful to make neither of these connections. Unstated in anything that Greenspan said during his testimony or in any of the queries he received from the committee members is a burning question: "What happens if the US 'does a Japan' and is unable to rekindle economic growth even with zero interest rates? WHAT HAPPENS IF WE HAVE TO GO BEYOND INTEREST RATES?" The US Dollar would be DESTROYED in the process. The odds are very high this will occur within the next 5 years.