The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Wyätt Gwyön who wrote (54294)	2/20/2006 7:54:45 PM
From: NOW	of 110194

"in sum, Asian CBs don't "invest" in USD; they opportunistically manipulate their currencies to support local export growth. can this go on forever? probably not. but Japan hasn't ended their addiction to the US after 40 years, and China is just getting started. sure, the US is run by nuts and we are profligate and have no right to our "easy ride", as the moralizing goldbugs would have it. but who said life is fair? one of these days, the game will change, but that could be many years from now, and one has to wonder if "many years" is equal to the time horizon of "investors" in gold stocks trading at 50x PEs." This assumes that gold stock investors are in it for a weak dollar story. many are. some of us are not

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