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To: NOW who wrote (275428)	1/28/2004 3:46:24 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

TE: Not quite. I see it as just one more jurisdiction that is throwing its hands in the air and tacitly stating that the emperor has spread too much debt paper around the globe and that it sees problems ahead for that debt paper. As has been noted throughout history, folks have a propensity for passing along questionable "money" and hanging on to the high quality stuff. So far, the global exodus from the buck/treasury paper has been fairly orderly (as one would expect from the pros). The obvious question is.... what happens when this exodus intensifies? Not a nice thing to ponder, but one that some investors are not just considering, they are acting on their conclusions. Best, Earlie