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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: X Y Zebra who wrote (61)	5/7/1998 6:20:00 AM
From: Henry Volquardsen	Respond to of 3536

Z, Mencken is one of my favorite writers. Reading his coverage of political conventions at the start of the century and it is sad to realize how little politicians have changed over the last 100 years. I agree that the role of nations will change radically in the decades to come. The free flow of information is radically changing the way the capital markets operate. As Chip will be aware from our previous discussions I don't believe a gold standard will work. Part of my rationale for this view is that the the market, armed with fast information and free flow of capital, has become very good at disciplining currencies. That said, politicians are an inventive breed when it comes to protecting their territory. We are still a long way from being safe from their depredations. And an honest and efficient politician is an oxymoron. Henry