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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (6160)	6/2/1999 12:10:00 AM
From: m.philli	Read Replies (1) \| Respond to of 81023

Good point there Doug. My wife is Filipino and it is her understanding, belief and duty that one must use political power once its obtained to aid the clan. There is nothing wrong with this (in her mind), that's just the way things are. Once power is obtained, the main objective is keeping it. She also says election day is amazing, many people rise from the dead only to vote and then return to the grave until the next election.,ha,ha.(i guess not that funny) I guess I should go back and make sure I have a correct understanding of what happened to bring on the Asian crisis. That will be one of their main objectives, seeing it doesn't happen that way again. If I am correct, things were booming in Asia, people were working, standards of living were rising, investment money was pouring in, the "Asian miracle "was taking place, they had finally arrived. Then one morning, somebody decided too much money was coming in, being poorly invested, the whole thing was turning into a bubble, decided to run and yelled stampede as they stepped into the plane with their money. Money players sensed blood and sold the respective currencies also yelling stampede. By god there was a stampede! People not only lost out on their investments but on currency exchange as well. How justified I'm not sure, perhaps it could have been controlled and avoided, but it wasn't. Is my understanding of the events that happened there correct? Is this why you hear so much talk coming out of Asian leaders about the need for capital controls? Straighten me out on this, as it was ,"working", I think. Why did they stampede for the exit? Was it because the currency they were doing business in wasn't strong enough to withstand the pressure? If they had been dealing in a currency as good as gold, would it have made a difference . Or was it just to big an expansion, too fast, creating too much investment and a big bubble economy, without a ''GREENSPAN"and the resources to control it before it got too far out of hand on the upside? Can Asean control investment dollars coming in as well as exiting to a better extent in the future, would a single currency clearing house of some sort for the region aid in this? I'm way over my head, as you can see, but I wonder if there isn't some way of using a centre like Singapore for instance, as a control/distribution centre for all of Asean? Someway of having all money flows into the region changed into Asean gold backed dollars and then dispersed to wherever the investor desired? At the least, they would be ahead of the curve on possible excesses .Their "Greenspan" being alert to this could could call the governors and respond appropriately. It appears when one went it dominoed the others. Could it be that in the interest of all,they may have to individually submit to the decisions of the majority in this respect? ?????????Was I doin ok till I got to the last paragraph? I need to ask anyway.-mike