PLATO'S RETREAT (PLATO)

[thepennyking]

For the record:

Date: Wed, 15 Nov 2000 16:05:08 -0800 (PST)
From: gabor sandor acs <[e-mail]> / Block Address / Add to Address Book
Subject: Fwd: RE: What's happening in Canada
To: [e-mail]




--- Gabor+Sandor Acs <[e-mail]>
wrote:
> Date: Wed, 15 Nov 2000 00:44:13 -0800
> From: "Gabor+Sandor Acs"
> <[e-mail]>
> To: [e-mail], [e-mail]
> Subject: RE: What's happening in Canada
>
> Dear JP/Plato:
>
> Can you be more specific about the law? What was it
> called? There is a wave of margin calls going on,
> not just in Canada, but all over the world. Debt
> becomes worth - less, as the value of saving for the
> future goes up. Example: Borrow 100K at 10% in US
> Dollars for 1 year. Dollar goes up 25% against Euro
> same period. European Bank bought your loan two days
> after it closed, knowing it would inflate its own
> money supply. How much interest are you really
> paying? Answer 35%. Was it fully disclosed? In
> Canada, it's the same thing. A reform movement is
> underfoot, a solid foundation has been established
> to disclose the true meanderings of global capital
> flows, and the dike is being plugged. Suggest if you
> have any margin loans, liquidate them fast, before
> you get called. The other side of the coin is that
> as dollars go up in value, companies doing business
> in foreign countries lose sales values. There in
> Canada, many people see the dollar appreciating
> faster than OTC stocks over the !
> next five years. So they are dumping and getting
> into the US dollar and currency plays.
>
> Thats my take on it.
>
> >From: <[e-mail]>
> >To: <[e-mail]>
> >Subject: What's happening in Canada
> >Date: Wed, 25 Oct 2000 08:19:04 -0400
> >
> >To All,
> >
> >I'm going to pass this info on to the email list
> because I think it's
> >significant. Here's what I've heard is happening
> in Canada and how it is
> >affecting the OTC:
> >
> >In as simplistic terms as I can:
> >
> >In Canada, because the OTC is so volatile, a law
> was passed that said that
> >any OTC holdings in your portfolio will not be
> counted as having any value
> >to your portofolio because the OTC is so volatile.
> The law goes into
> >effect Dec. 1st, but many are not waiting for the
> law to go into effect.
> >This has forced a large number of margin calls in
> Canada and has resulted
> >in many selling their OTC positions to either cover
> their margin calls or
> >because they cannot be used as value in a
> portfolio.
> >
> >This was given to me as the reason why so many OTC
> stocks are being sold
> >off right now and has nothing to do with the
> company itself. This is
> >suppose to go on for another 3 or 4 weeks before
> things begin to settle
> >down. It also means that you will not be able to
> short OTC stocks and
> >have the value of that shorting count in your
> portfolio.
> >
> >I'm sure it's much more complicated than I'm making
> it sound now, but it's
> >a good and bad thing for the OTC. Good because we
> should be seeing much
> >less naked shorting; bad because this bad OTC
> market may be with us for
> >another month. Then things are suppose to really
> pick up.
> >
> >I give this to you all for two reasons:
> >
> >For information to you and for verification of it
> actually happening to
> >someone on the email list. Please respond to this
> email if you have more
> >information on what I'm terming "The Canadian
> Effect". (LOL)
> >
> >
> >Regards,
> >
> >Plato
> >
> >Post your insight on the 'PLATO'S RETREAT (PLATO)'
> board.
>
>
>
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=====
Gabor Sandor Acs aka www.thepennyking.com. Visit www.iexchange.com,
"thepennyking" under "Search Analyst". "God the Infinite does bless thee a
trillion times per second, think about this for a minute and know it as
a truth." Visit "thepennyking" at www.investorshub.com or
www.MutualMinds.com. "One world, interconnected. One currency, mutually equally
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Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund.
A former banker, top analyst at iexchange.com before
they ran out of money, and Chair