Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (141821)	1/5/2002 12:24:19 PM
From: mishedlo	Read Replies (2) of 436258

From Zeev: I believe that all central banks actually think that they left the US holding the bag (a bunch of useless depreciating gold with no returns). I also believe that is a price the US is willing to pay to make sure that the world will ever again be tied to an antiquated rigid gold backed monetary system. As I have suggested a number of times, That the CB's have realized many years back that tying the monetary system to a single commodity, rather to respective national GDP, dooms the world economy to either sub par growth, or perpetual inflation. JPM , being fully aware of that momentous decision is simply helping the CB's (and itself) with it's hedging operations in gold. In that respect, JPM is like FNM and other "government backed" lenders, they are assured that the governments all over the world are going to make sure that it wins. Only GATT is fighting a Don Quixotic war against city hall, just because they are still living the dream of a huge win, I would let them keep dreaming. GATT think that there is a "conspiracy", sure there is a conspiracy, but a conspiracy is no longer a conspiracy when everyone and his cousin knows about it. Zeev

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