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If you really want to worry, the black market rate for Rimimbi Yuan / US$ is
11% above the official Chinese exchange rate. The Chinese have already
intervened at least 3 times to prop up the yuan. They have been the real
fire wall between other Asia markets and a world wide meltdown. As long as
the Chinese hold out, we'll muddle along. But how long will the Chinese put
up with this? And when will the currency traders overwhelm anything that
the Chinese can do in the currency markets?
Ross Kovacs
> ----------
> From: Earl Adamy[SMTP:eadamy@xxxxxxxxxx]
> Sent: Tuesday, August 11, 1998 5:56 AM
> To: omega-list@xxxxxxxxxx
> Subject: Re: Pathetic
>
> CME is scheduled to roll out new software to replace CUBS/TOPS, also
> Globex I
> believe. Things are not good right now, especially last few trading days
> with
> all 3 going down almost daily, but it looks like it should get better
> shortly.
>
> Speaking of nuclear warheads, I'm getting quite worried about the social
> effects
> of tanking markets in Russia, China, Indonesia, Eastern Europe. Especially
> Russia - how much more will the communists and the military take before we
> have
> a revolution.
>
> Earl
>
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