Wait for securitized credit card debt to become another sub-prime mortgage
debacle. It's coming. Cutting back on credit limits is too little too late.
jh
----- Original Message -----
From: "Andrew Fildes" <afildes@xxxxxxxxxxxxx>
To: <olympus@xxxxxxxxxx>
Sent: Monday, November 03, 2008 4:41 PM
Subject: [OM] Re: OT American express
>
> Same thing happened in Australia - AUD dropped from almost parity at
> 96 US¢ to 60¢, despite the fact that we have similar financial
> controls, a healthy economy, relatively, and banks that don't go
> bust. Bloody annoying. With Aus. and RSA it's partly due to the drop
> in demand for commodities like minerals as well.
> This used to be called the Earthquake Tokyo scenario - the idea that
> if the Japanese suffered a serious disaster, they'd pull their money
> back home and markets around the world would collapse.
> My B&H account won't be seeing much activity for a while.
> Andrew Fildes
> afildes@xxxxxxxxxxxxx
>
>
>
> On 04/11/2008, at 1:38 AM, Dawid Loubser wrote:
>
>> Yet, our currency has tumbled against the US dollar because all the
>> investors are pulling money out
>> of emerging markets, and pooling it back in the U.S. Very unfair,
>> since our economic sector is so much
>> healthier than the US or EU's!
>
>
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