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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (13332)	12/15/1997 2:02:00 AM
From: Big Bucks	Read Replies (2) \| Respond to of 70976

Thanks Jacob, very interesting this intricate web of currency valuations and economics. I would think that the solution is to "freeze" the currency and put a moratorium on buying/selling the currency. Nixon put a freeze on the dollar in '70 (I think), I believe it only lasted a short while and was declared beyond the scope of presidential power, but it did stabilize things for a while, to the best of my recollection. BB

To: Jacob Snyder who wrote (13332)	12/15/1997 3:08:00 AM
From: Eric Winterhalder	Respond to of 70976

Sunday December 14 8:11 AM EST Global Banking Pact Will Boost Growth - U.S. By Donna Smith WASHINGTON (Reuters) - U.S. officials are hailing a global agreement to open banking, insurance and securities markets, saying it should help to restore confidence in Asia's troubled markets and boost world growth. Trade Representatives Charlene Barshefsky said the pact reached early Saturday at the World Trade Organization (WTO) in Geneva covered a broad range of services involving $18 trillion in global securities assets, $38 trillion in global bank lending and about $2.5 trillion in worldwide insurance premiums. "This agreement will open financial services markets to an unprecedented degree and provide lasting benefits to U.S. industry, the U.S. economy and the global economy," Barshefsky and Treasury Secretary Robert Rubin said in a written statement. "With this deal, 102 WTO members now have made market opening commitments in the financial services sectors," Barshefsky said at a White House news conference. She said U.S. firms stood to benefit greatly from the pact, which would give them more access to developing nations' markets