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ot response to ot remark. formerly: ok, is it safe?

updated sun 17 mar 02


Martin Rice on sat 16 mar 02

Dear Ivor:

Over the couple of months that I've been a Clayarter, I've been impressed by
your knowedgeable and articulate communications to the list. I would
suggest, however, that if you want to comment on economics, you learn a bit
more first.

It is not the "gnomes of Wall Street" who, by fiat, as it were, create
exchange rates. Mostly it is any given country's central bank which has a
great hand in that country's exchange rates against the dollar and all other
currencies. One of the chief reasons for Argentina's current fiscal debacle
is due to it's own, internal, financial policy of maintaining it's currency
on a one-to-one par with the US dollar and refusing to let it float on the
international market.

In the country I reside, Costa Rica, the central bank determines the
exchange rate with a carefully controlled formula that considers both
inflation, internal and external debt, and devaluation. That's the way it
works pretty much the world over.

Lagunas de Barú, Costa Rica

----- Original Message -----
From: "iandol"
Sent: Friday, March 15, 2002 1:14 AM
Subject: [CLAYART] : Re: OK, is it safe?

Dear L. P. Skeen,

<transportation if you're not local, and then all the POTTERY TOOLS AND BOOKS
to buy.......oy vey! >>

Add in the cut for the "Gnomes of Wall Street" who are certain that US $$$
are worth a lot more than anyone else's currency. For those who live outside
the "Greatest Country on God"s Earth" and it becomes twice as expensive.



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