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To: waldo who wrote (21852)	10/17/1998 12:25:00 PM
From: waldo	Respond to of 116764

>>Let us pray that this great step back retards others' recent Hooveresque monetary policies , is a positive abroad, but without destabilizing our domestic economy further. The real risk (and that is why a precise pronouncement that the Bear is over based on today's move is impossible and in fact reckless) is that the Dollar weakens so much as to trigger a massive selling-wave of dollar denominated assets; a touch of which we've already witnessed. Yes; this all falls under the type of derivatives crisis and implosion risks warned of starting last year; though not all of it is solely debt-based. What I'm trying not to say; is that this series of actions may be a last best chance to save an historically unprecedented intertwined international derivatives mess from total collapse.<< Gene Inger, Publisher, www.ingerletter.com gold-eagle.com W