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[OM] Re: OT American express

Subject: [OM] Re: OT American express
From: Chuck Norcutt <chucknorcutt@xxxxxxxxxxxxxxxx>
Date: Mon, 03 Nov 2008 17:12:56 -0500
If investors acted like idiots when they originally bought all those 
high risk, sub-prime, US mortgage securities what makes you think they 
would act any more intelligently today?  :-)

Chuck Norcutt

Andrew Fildes wrote:
> 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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