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To: Bobby Yellin who wrote (16250)	8/20/1998 7:21:00 PM
From: Karen E Hoof	Read Replies (1) \| Respond to of 116770

re; derivatives....those exotic little devils...I see that they have hurt some Hedge funds in Europe...France and Swiss, that hedged with the Hungary and Chechoslovokia (sp) and one other....one was down 19+% and the other down 26%...with the devaluation in Russia....On CNBC Insana made comment this AM that some of the hedges came into big money...but they may never collect because of an inserted line that a currency devaluation nullifies the hedge....karen

To: Bobby Yellin who wrote (16250)	8/20/1998 10:02:00 PM
From: PaulM	Read Replies (1) \| Respond to of 116770

Mexican Peso Falls to All Time Low biz.yahoo.com Bobby, it strikes me that derivataive bets aside, one way or the other we're looking at the end of the present monetary system.