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To: Zeev Hed who wrote (14291)	2/18/1998 3:13:00 PM
From: Chip McVickar	Respond to of 18056

Zeev, I tend to agree with you and history certainly points in that direction. Nationalistic overtones in themselves may very well make for a short lived EURO.....just look at the French and German accounting methods. But the dream of a unified economic europe is strongly entrenched in the burocates, politicians and powerful multi-national business leaders. Profits just "light-up" everwhere. It is very powerful idea...a central bank of europe. However the stumbling block has been the floated currency and the ability of a cenral bank to use its discretionary authority to print money and procuce the problems we are seeing in Asia. What's interesting here is the unexpected.... A "hard ECU" as envisioned by John Majors....But Sir Alan Walters, Thatcher's Prime Minister, believed the only way it could work was to require the central bank to issue money under strict rules that included anchoring the currency to a basket of commodities. In effect a country could exchange all their ecu's for these commodities. A unit of currency would be worth a certain amount. In any case...if this were the resulting package presented later this year as the basis of the EURO...it could cause a significant run from the dollar and US Bonds. Although this seems "far-out", kind of unrealistic and boardering on "Gold fever" which I do not have >chuckle<..... The trouble in Asia - combined with the desire of powerful european forces to bring about this new central bank.... The Big Surprize might be the foundation of the New Central Bank and its currency. Anyway just another thought and consideration to through out

To: Zeev Hed who wrote (14291)	2/18/1998 4:05:00 PM
From: Crimson Ghost	Respond to of 18056

ZEEV: Interesting action the last few minutes today. The big cap averages weakened, but the small caps improved substantially. Seems that money is flowing back and forth between these sectors of the market. They rarely move in unison.