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

To: Stitch who wrote (2064)	2/11/1998 11:50:00 PM
From: B Tate	Read Replies (1) \| Respond to of 9980

Stitch Confusing days we are in. Got the same spacial ruminations early this A.M. Possible scenario: Jakarta moves to currency board pegging the Rupia at 7500. What backs it up???? Is the President and his family going to pony up the necessary bucks from their o'seas accounts? Hmmm Could this be a way to get a better TEMPORARY exchange rate so they can pillage more of the country? I don't imagine that having billions of rupia stashed away at the exchange rate of 10,000 or 17,000 to 1 would lend itself to deposit in a Swiss bank when maybe you could phoney the rate temporarily enough to make the deposits at say 7,500. Sound far fetched????? you bet! but then again the whole establishment in Indonesia isn't exactly above board is it? The current bump in South East Asia's markets is directly related to the improving strength of the rupia. A subsequent crash (IMO a sure bet if there ever was one) will bring even better buying opportunities eh? Maybe the time is to sit on the sidelines a little longer. Maybe I'll even get to grab some F&N at under 4 MR again ;-). Did pick up some Public Bank today though - purely spec. Just can't stand to sit idle too long. 8>) Small position but will add if the expect downturn materializes. Confused, you bet. Looking forward to TGIF bt