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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (56415)	11/24/2004 9:44:59 AM
From: Haim R. Branisteanu	Respond to of 74559

Geee - Jay I was thinking to have a more optimistic view from the East - some consolation that not all is almost lost <GGG> ... oh well never mind for expressing similar toughs I am labeled a "NUT" techstocks.com by on of my SI “admirers” who would prefer me more dead than alive <GGG>

To: TobagoJack who wrote (56415)	11/24/2004 9:53:06 AM
From: elmatador	Read Replies (1) \| Respond to of 74559

Brazil prints to buy USD: Brazil Real Falls on Government Plan to Repay $3 Bln Debt Nov. 24 (Bloomberg) -- Brazil's real fell for the first day in three on government plans to buy dollars to help repay $3 billion of debt due in December and June. The currency also fell after Brazilian President Luiz Inacio Lula da Silva said in an interview yesterday the nation's currency needs to weaken to bolster exports and help the economy expand for a second year. The currency has gained 28.5 percent since Lula took office in January 2003. Brazil's Treasury has purchased $566 million of the $3 billion needed repay debt owed to creditor governments in December and June next year, Afonso Bevilaqua, the central bank's chief economist said at a press conference in Brasilia. The rest will be purchased between December and the middle of next year, Bevilaqua said. ``This is absolutely sensible and healthy,'' said Carlos Gandolfo, partner at Pioneer Corretora de Cambio Ltda. in Sao Paulo, Brazil's largest currency brokerage. ``Dollars are cheap so if the government needs dollars the central bank should buy them.'' The real fell 0.8 percent against the dollar at 8:13 a.m. in New York, erasing an earlier gain of as much as 0.4 percent earlier in the day. Lula said in the interview in Brasilia that Brazil would benefit from the currency weakening as much as 11.5 percent to between 2.90 and 3.10 against the dollar from 2.7420 yesterday.