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

To: Henry Volquardsen who wrote (363)	7/30/1998 9:10:00 AM
From: Chip McVickar	Read Replies (2) \| Respond to of 3536

At some point I wrote down this quote....but cannot remember the source...probably out of one of the investment letters I read. Maybe anther reader has the link to Greenspans full remarks off the fed site, Greespan apparently made this interesting comment in his last trip before the Congress. "Short-term interbank lending especially cross-boarder, may turn out to be the Achilles heel of an international financial system that is subject to wide variations in financial confidence." ie: that a crisis could evolve from the volitility of these cross-boarder activities. Can you pick-up on this and elaborate....I'm not sure what this is refering too...except for the short-term movement of funds that banks barrow to maintain leveraged balance sheets. Does your experience here reflect the possibility of an Achilles heel..? I quess Mexico would be a prime example..? Chip