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To: Jim Patterson who wrote (47840)	6/16/1998 2:17:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 176387

Jim, your missing the point. What happened prior to the currency collapse in Korea and other Asian countries was the result of businesses making money from currency arbitrage not from running their businesses. This arbitrage was made possible by dollar denominated loans from the banks, and support of the local currency by the government. Now the Korean government is no longer in a position to support its currency against the dollar. Therefore, the businesses were unable to repay the dollar denominated bank loans. SO ... these businesses now must stick to their core business and stop playing around with currency arbitrage because they have no source of funds (the banks are going belly up) and the government can no longer artificially prop up the currency. The bottom line is that they cannot afford to dump. TTFN, CTC