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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Haegin who wrote (2055)	2/11/1998 6:52:00 PM
From: philv	Read Replies (2) \| Respond to of 9980

Thomas: The US dollar is universally traded and has no peers worldwide. It is also the reserve currency for many countries who are holding US dollars or US paper as their reserves. In fact, many Countries' Central Banks have sold their gold to hold US paper, thereby earning some interest. There will soon be an alternative if the EMU succeeds, and the US will have to share the seniorage and benefits accrued thereby. Looks like we will have three main blocks, the US dollar block, the European dollar block, and the proposed Asian block. One currency for Europe, one for the Americas and one for Asia. Asia has been closely watching the EU process, and the latest difficulties has spurred them on to join together and get away from the US dollar. Phil