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Looking into the future using the past, from similar patterns in prices
the Yen has behaved as is shown on the attached.
Seems near a "pause that refreshes".
There are a total of 6 swings but two of them have been passed
in both time and price so they are not displayed.
Clyde
----- Original Message -----
From: Stig O <olausson@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Sent: Tuesday, October 05, 1999 03:39
Subject: War of the Giants? Effect on Gold?
This is a quote from on of Larry Muir's recent posts.
Read the quote again! (I have shortend it considerably)!
and then look at the weekly Yen and Euro chart I have attached.
The Yen HAVE broken out of an inverted H&S pattern and the Euro is just
under the neckline.
We certainly are in for some very interesting times.
rgrds
stig
-----Oprindelig meddelelse-----
Fra: Larry Muir <trdoptions@xxxxxxxxxxx>
Til: realtraders@xxxxxxxxxxxx <realtraders@xxxxxxxxxxxx>
>>This article was in today's San Francisco Chronicle.
>>This is one sharp journalist. He knows his stuff.
>>
........................
>>
>>For it can only be at the expense of a strong dollar
>>that Europe's central banks would choose implicitly
>>to support the price of gold. In declaring to the
>>world that they plan to limit bullion sales,
>>Euroland has affirmed a willingness to give gold
>>a monetary role.
>>
>>This is a direct assault on the greenback, since
>>the dollar is backed by nothing of substance, much
>>less gold. By deigning to support a standard which
>>implies the dollar's inferiority, Europe is
>>clearly seeking to elevate the value and utility of
>>its euro while diminishing the dollar's role in world
>>trade and its dominance as a global reserve currency.
>>
>>Clearly the Europeans are scared of a world
>>manifestly awash in dollars, just as they are fed up
>>with the obligation of supporting a
>>global financial system that conducts most of its
>>business in dollars.
>>
>>Japan may be thinking along the same lines, since
>>its central bank recently rejected the idea of easing
>>credit to slow the yen's steep rise against the dollar.
>>
>>If Europe and Japan succeed in breaking the world's
>>dependency on dollars, it will surely spell trouble
>>for the U.S. economy. For, a weaker dollar would
>>diminish investment by foreigners in our
>>Treasury bonds, raise interest rates and curtail
>>the ability of our consumer-oriented economy to
>>function effectively without savings.
>>
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