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To: Earlie who wrote (240131)	5/12/2003 7:50:21 AM
From: zonder	Read Replies (1) \| Respond to of 436258

There are instruments available for manipulation of a currency known to every graduate of Econ 101. While these would not forever hold an avalanche of selling, they would hold and hinder the USD's depreciation. Needless to say, we have not seen evidence of any. So, either Snow et al are woefully incompetent, or they in fact "favour" a weaker USD, despite their declarations to the contrary. While these two choices are obviously not mutually exclusive, I believe the latter explains better the USD's recent depreciation, especially remembering the November 2002 speech of Fed Governor Bernanke where he went to considerable pains to explain just how printing money decreases its value and how that is a Very Good Thing.