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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (16508)	11/22/2004 3:17:47 AM
From: Taikun	Read Replies (1) \| Respond to of 116555

Grace, Lets say 1/3, or 230billion in US notes will come home t roost in the US after some Eastern Europeans onverted to Euro. Since those people are not cashless like us they move the currency base of their exchanges from dollars to, say Euro. Those dollars that have left the system and gone to be used in exchange elsewhere, where their presence is uncounted, if they moved back over the course of 1 yr, at $4bn/week that would have an impact. Of course the larger piece, which is more likley if properly counted, is USD deposits Depending on the speed at which these USD return home, the impact could be interesting. Do you know what happened in the UK? I read it once and it escapes me now. David