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This is my point.. This Prop it up attitude is more damaging in the long
run.
-----Original Message-----
From: Kovacs, Ross R <KOVACSRR@xxxxxxx>
To: 'omega-list@xxxxxxxxxx' <omega-list@xxxxxxxxxx>
Cc: 'eadamy@xxxxxxxxxx' <eadamy@xxxxxxxxxx>
Date: Tuesday, August 11, 1998 9:36 AM
Subject: FW: Pathetic
>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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