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

To: nspolar who wrote (22588)	12/3/2002 12:34:47 AM
From: abuelita	Respond to of 36161

I'm not putting a very high probability on such an event ... i'd say it was better than 50/50. :(

To: nspolar who wrote (22588)	12/3/2002 12:37:12 AM
From: Canuck Dave	Read Replies (1) \| Respond to of 36161

I know, it's like Greenspan has 14 balls he's juggling at once. I was thinking about the Chinese today. I think it's pretty obvious that the US demanded China adopt US dollars as a reserve currency to get most favored nation status. It's worked out well for both countries, up until now at least. It's in China's interests to keep the US dollar afloat to buy the stuff they produce while they ramp up domestic demand. Other Asian economies are fighting to devalue their own currencies to maintain their exports. Everyone wants the US to keep on consuming. Nobody wants to be the bad guy who dumps dollars for gold and crashes the exports of everybody. How will it end up? Badly, but I have no idea what form the catastrophe will take, or whether it will be a pop or a hiss. There's a few candidates, but we're not in Kansas anymore, Toto. New world going to emerge. CD