On Mon, May 5, 1997 at 09:01:56 (-0700) Doug Henwood writes:
>Rosenberg, Bill wrote:
>
>>An interesting example from New Zealand: a U.S. Bankers
>>Trust dealer, Andrew Krieger, claimed that in late 1987
>>he "played" several hundred million - possibly as much as
>>a billion - New Zealand dollars against New Zealand's
>>currency, leading to a fall by 10% of the value of the
>>New Zealand dollar ("The Money Bazaar - inside the
>>Trillion-dollar world of Currency Trading", Andrew J.
>>Krieger with Edward Claflin, Times Books N.Y., 1992,
>>p.93ff).
>>
>>New Zealand politics is very conscious (perhaps hyper-
>>conscious) of the ability of financial dealers to
>>manipulate the economy, and it has been used as a scare
>>tactic frequently during recent elections.
>
>And since it's used as a scare tactic, that makes it especially important
>to understand the mechanisms of damage.
I don't know if this will but muddy the waters, but William Greider
recounts a tale similar to Bill Rosenberg's in his _One World, Ready
or Not_, but the target of the speculation was the Bank of England.
George Soros had some fun with them a while ago. I do believe he goes
into some detail about the "mechanisms of damage."
Bill
--
William S. Lear | Who is there that sees not that this inextricable labyrinth
[EMAIL PROTECTED] | of reasons of state was artfully invented, lest the people
quid faciendum? | should understand their own affairs, and, understanding,
quaere verum | become inclined to conduct them? ---William Godwin, 1793
