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To: Haim R. Branisteanu who wrote (244005)	6/4/2003 8:27:52 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

>>.... this is unproductive allocation of efforts and money << ho ho ho -- wake up and smell the ... coffee. we have unproductive financial transactions cubed. Why should currencies be exempt? I think the point is: Today's US dollar slide is not the slide of yesteryear ... this slide, which the spin doctor's at the treasury are calling a "modest adjustment" and the Fed can't comment on, is huge given the foreign ownership of USD assets and the status of the USD as the reserve currency of choice. Welcome to the twilight zone, Haim. Your post is the same ole stuff -- "fluctuation can't be justified because I say so." Ho ho ho ... learn to trade it better or do something else. All the 'safe' trades are blowing up, I guess. What a shame. Guess they don't have Haim to kick around any more ...

To: Haim R. Branisteanu who wrote (244005)	6/5/2003 1:36:33 AM
From: TobagoJack	Read Replies (1) \| Respond to of 436258

Hello Haim, <<If FX will start to act as the stock market the then we are in trouble>> ... I realize the proportion of trade/capital related forex trade as a % of total is large compared to 'speculative' trades. I suspect, at the margin, at 'inflection points', even traders and capital investors follow the lead of speculators. If so, then the gyrations of the forex market is understandable, whether or not justified. In such an environment as we now find ourselves in, the import/exporter who devotes the resources to game the forex market, if done right/lucky, is doing productive work. For the folks that bet against the USD over the past 18 months, the productivity has been quite rewarding. <<no real economic news that could justify the swings>> ... when the debtor country central banker promises to trash the currency under his care in the least imaginative way possible, I would guess a bit of volatility is probably justified;0) All countries trash their currency, bit by bit, little by little; but it is extremely rare that a central banker promises to do it in large steps should he judge fit, on international television yet! Chugs, Jay