the next Argentina

[joanna bujes]

At 10:16 AM 03/03/2002 -0500, you wrote:
>No, and that's the beauty of the US seignorage scam. Yet, doesn't it all
>rest ultimately on confidence, since it's obviously not the low interest
>rates that are drawing the world's capital to the US? If the media follow
>FT's lead and start pointing finger's at the emperor's bare ass, what's to
>stop the global casinogoers from playing at the Euro or the Yen table?

I dunno. My guess would be that the diff between the Euro, the Yen, and the 
Dollar is ultimately........(drum roll here).....the U.S. armed forces and 
the regime's willingness to use them. It's another one of those things that 
don't show up on balance sheets but that play a part nevertheless.

Joanna