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As investors we should concentrate on the economic and long term
implications of events on the political scene. The charade in Washington
is an example of the greater stupidity of one political party over another.
Seducing or being seduced by women has never been considered an impeachable
offense. If it were, almost all of our presidents would/could have been
impeached.
The Brits are making the same mistake about the Euro that they made about
joining the European Common Market back in the 1950's. Back then, the
Europeans were so anxious to get Britain in that they were willing to make
many concessions to Britain. When the Brits finally realized that it was
in their interest to join the Common Market, De Gaulle humiliated them by
vetoing any special concessions to them.
Now its the Euro. The Common Market and a common currency is leading to a
united states of Europe. Every country will have less sovereignty than
before, but better conditions than existed before. Just as in this country,
Texas "lost" its independence to become part of the US, so will Britain
"lose" more of its independence by accepting the Euro.
Our leaders should move quickly and intelligently to protect and enhance
the position of the $ as the reserve currency. Since recent events have
shown that our political leaders of both parties are neither very
intelligent nor able to move quickly, the Euro is destined to become the
reserve currency. In the 19th and the first half of the 20th century the
British pound was the reserve currency, in the second half of the 20th
century the US dollar became the reserve currency, in the 21st century it
will probably be the Euro.
Lionel
-----Original Message-----
From: Animal <animal@xxxxxxxxx>
To: Metastock User Group <metastock@xxxxxxxxxxxxx>; Realtraders User Group
<realtraders@xxxxxxxxxxxxxx>; t-bondtrader@xxxxxxx <t-bondtrader@xxxxxxx>
Date: Friday, February 12, 1999 5:18 PM
Subject: Re: Shame
>So while the Demos where touting their victory as rulers of the pig pen,
>does the markets action of today imply a vote of no confidence in the
>senate's action --- or was it just disgust? As it is said be careful
what
>you ask for...you just might get it.
>
>-----Original Message-----
>From: T-Bondtrader <t-bondtrader@xxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Friday, February 12, 1999 12:23 PM
>Subject: Re: Shame
>
>
>>>Today I am ashamed to be an American. I'll never look on the rule of law
>>the
>>>same way again. My father risked his life for this country in WW2 and
our
>>>leaders can't even perform the job that they have sworn to do. Throw me
of
>>>the list. It would be a small price to pay for truth.
>>>
>>>Brent
>>
>>
>>Many on this side of the fish pond will completely understand your
>>thinking, because our politics and the behaviour of those who have been
>>voted into power, in this country, are now of much the same ilk. This,
>>however, is a trading forum and those who read it are only interested in
>>anything that impacts trading. As a result, most would say that the
recent
>>activity of the Senate and the stance taken is nothing to do with
trading.
>>
>>However, arguably, the leader of the nation (and if and when there is a
>>change) is very much a matter for the markets and the fact that Clinton
>>will now go on for the next two years, will probably impact well on the
>>whole investment area. As a result, it can only be hoped that he will
want
>>to be remembered as a President who did something particular, of major
>>value, rather than the man who coined the phrase 'inappropriate
activity'!
>>
>>My hope would be that he might see the potential vunerability of US
Dollar
>>versus the Euro as a danger to America's world leadership; that he
decided
>>to ensure that the dollar should maintain its position as the reserve
>>currency of the world. To succeed in that endeavour, it will be
necessary
>>to keep Sterling as the number two (rather than it join the Euro) and
this
>>is something that will be applauded by Englishmen everywhere, as the only
>>means left of our keeping our national sovereignty.
>>
>>So how ever distastful recent events must be for Americans, in
particular,
>>and other onlookers around the world, in general, there is still an
>>opportunity for some good to come out of it all - including the markets
and
>>those involved in them. It is vital for freedom that America and its
>>currency leads the world and so it is absolutely necessary that the Euro
>>venture remains a secendary project. And so, de factum, ensuring that
the
>>British Pound is saved.
>>
>>Bill Eykyn
>>
>>
>>
>>
>>
>>
>>
>>
>
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