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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (245858)	6/16/2003 10:45:53 PM
From: Joan Osland Graffius	Read Replies (2) \| Respond to of 436258

Patron, I was following your thought process until >>ag commodities ag = silver? What do you mean by commodities - futures??? BTW, I agree with your premise that cash in US dollars is trash. TIA

To: patron_anejo_por_favor who wrote (245858)	6/16/2003 11:03:10 PM
From: Lucretius	Read Replies (2) \| Respond to of 436258

i'm putting cash to work in guns and bullets -g-

To: patron_anejo_por_favor who wrote (245858)	6/16/2003 11:07:06 PM
From: ild	Read Replies (1) \| Respond to of 436258

Chinese Yuan 1-Year Forwards Rise to Record After Snow Comment June 17 (Bloomberg) -- Chinese yuan non-deliverable forwards, which reflect traders' expectations of the currency's future value, rose to a record after U.S. Treasury Secretary John Snow said the U.S. supports steps away from a fixed exchange rate. ``We understand that the Chinese government is interested in moving toward market-based flexible exchange rates,'' Snow told reporters in Moon Township, Pennsylvania yesterday. ``That's something we support.'' One-year forwards widened to a record 1,850, from 1425 late yesterday, according to Deutsche Bank AG. That implies the Chinese currency, if freely traded, would be at 8.0972 to the dollar, compared with the 8.3 rate at which it has been fixed since 1994. The contract has more than doubled in a week after Goldman Sachs Group Inc. said China will widen the yuan's trading band by the end of the year. Snow's remarks were the first public comments on China's currency since he became Treasury chief in February, and they came at a time when U.S. companies are frustrated by the difficulty of competing with rivals in China. China's decision to peg the yuan in 1994 boosted exports, fueling a $199 billion trade surplus, and lured $308 billion in foreign investment because local wages are relatively cheaper than elsewhere in the world. The dollar's 9.2 percent decline this year against a basket of six major currencies helped China's exports increase last month at the fastest in four months, the People's Daily newspaper said. Frank Vargo, vice president of the National Association of Manufacturers, estimates the Chinese currency is as much as 40 percent undervalued. In the U.S., ``the protectionist demands are growing, and they're not going away,'' he said. Forwards are agreements in which assets are bought and sold at current prices for later delivery. Yuan forwards are non deliverable because they are settled in dollars, not local currency. Last Updated: June 16, 2003 22:03 EDT