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

To: orkrious who wrote (250578)	7/16/2003 6:52:49 PM
From: orkrious	Respond to of 436258

fleck tonight Panning Al's Panacea: A potential powerful catalyst to douse the speculative flames is Greenspan's loss of credibility -- a trend that gathered some steam the past two days in front of Congress. If the economy doesn't zoom soon, he will get a lot of scrutiny. That is bearish, because if he can't wave a magic wand to make trouble disappear, why pay 35 times earnings for the S&P 500? Al has a high hurdle set for himself (and no wiggle room), as Joanie observed today: Right now he sees 3.75% to 4.75% H2 growth and the unemployment rate dropping to 5.5% by year-end. Three months ago, he was all about deflation. Four months ago, he couldn't get his arms around the economy sufficiently in order to categorize the 'bias.' Over two years ago, he spoke of a 'six-to-nine-month lag' for the positive impact of the early rate cuts to be felt. Three years ago, he denied the existence of the stock market bubble. Before that, he broke down and espoused the new productivity paradigm, dissing the 'irrational exuberance' he had made famous only three years before that. You wanna' keep goin' on this? Me neither. This guy is a loser. His only consistency is his signature panacea of papering over all problems by providing liquidity until the latest batch of excess triggers the next crisis." The era of postbubble denial is about to come to an end, in my opinion.

To: orkrious who wrote (250578)	7/16/2003 7:02:25 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

Get it denominated in Rand...the world's OTHER reserve currency!<G> COF now down $3.80 after hours? HO HO HO!

To: orkrious who wrote (250578)	7/16/2003 7:26:45 PM
From: UnBelievable	Respond to of 436258

I Think You Can But it means that you have to make and withdraw money to and from the account in that currency and that you need to exchange your base currency into dollars to trade at any of the exchanges which trade in dollars. If you were only planning on trading on a foreign exchange and preferred to do your FX transactions outside of IB that would be the way to go. You can hedge the currency risk of holding dollars through futures contracts if that is your concern. I would imagine that IB does tax reporting based on the country in which you are domiciled, so I don't know that it would be advantageous from a reporting perspective. I think the appeal would be to someone whose native currency is not dollars but does most of their trading on US exchanges (and probably already maintains funds in a US bank.)