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Strategies & Market Trends : Investment in Russia and Eastern Europe -- Ignore unavailable to you. Want to Upgrade?

To: Rob Shilling who wrote (636)	9/6/1998 6:06:00 PM
From: P.T.Burnem	Read Replies (1) \| Respond to of 1301

Russia Today has an article that says one of the communist leaders in the Duma expects Victor C. to be approved Monday if it is a secret ballot, if not, he may still win or he will be voted in the following Monday. That C. stands a good chance of being confirmed by the Duma became apparent on Friday, so this is hardly news. This is huge, so-called "dollarizing" the economy is a solution that could pull out all of the hidden dollars under mattresses. And put them where? If Victor C. gets elected Monday and Russia starts this plan, it will be a HUGE boost to confidence and the ruble will strengthen Someone once defined insanity as doing the same thing over and over again and each time expecting the results to be different... Noone in the right mind will exchange dollars for rubles if the dollar is allowed to circulate freely, nor open a dollar account with a Russian "bank", nor buy government bonds. Aside from broowing from the IMF, the only way the vodka breath regime can get their greasy fingers on a stash of greenbacks is to rob Russian exporters such as Lukoil, and rob they will. Guess what this is going to do to the business confidence and moribund stock market. PTB