|
PureBytes Links
Trading Reference Links
|
Actually if you think about what Rajash is saying you are both correct.
The economic conditions in Asia or the imbalance in the current accounts
existed. The question then one asks - what is the best way to get these
imbalances in the current accounts corrected? Shorting the currency is
not by any means a very helpful way to get these accounts balanced. You
could say it does it the hard way.
I guess I have a little problem with the currency speculators in this
case because of the vast personal hardship that is now placed upon
individual who are not even participants in the game. (Although a
serious game.) Kind of like the very clinical and strategic strikes in
the Gulf War. Makes you feel removed from the destruction that is being
caused.
Harley
Lionel Issen wrote:
>
> Rajesh:
>
> You are incorrect. No single person or group can control the markets. Back
> in 1929 during the crash period when the markets were going up and down; it
> was easier for a few wealthy individuals to try to control the market, but
> they couldn't. For example: at one point John D. Rockefeller, then
> considered the wealthiest person in the world, said that there were great
> values in the market and that he and his son were buying Shell at 45. Shell
> shares proceeded to fall to the lower 20's. The markets are much larger and
> so it is much more difficult to control them now than it was then. Yes,
> Soros has caused some currency panics, but weren't they short lived? Also,
> Soros has lost many $ on wrong guesses.
>
> There were warnings for years about the fragility of the Asian economies and
> their banking systems. Just dig out the financial papers and do some hard
> work research or talk to a knowledgeable person.
> -----Original Message-----
> From: Rajesh <rajesh@xxxxxxxx>
> To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
> Date: Thursday, August 13, 1998 8:54 PM
> Subject: Re: Politically and Socially Incorrect
>
> Soros is the real culprit of all the current problems (except for
> zippergate).
> Starting with Thailand, Indonesia etc Soros, as we are aware has a huge
> following. It is not Sorosīs capital that frighten countries but the
> followers
> that jump in behind Soros. Soros talks and currencies walk.
>
> Blame it squarely on Soros.
>
> Guy Tann wrote:
>
> > What you really have to worry about is Russia dragging down the rest of
> the
> > European markets, especially Germany which has a large exposure to the
> > Russian problem.
> >
> > This can spread throughout Europe and combined with the Asian problem
> might
> > mean that eventually it'll reach us here....
> >
> > Then we'll be looking for anybody to blame.
> >
> > -----Original Message-----
> > From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]
> > On Behalf Of Bill Saxon
> > Sent: Thursday, August 13, 1998 8:24 AM
> > To: Fasttrack EMail List; Metastock EMail List
> > Subject: Politically and Socially Incorrect
> >
> > F* those Russians. <]:-(
|