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Gold/Mining/Energy : ORI Omni Resources, TYG Trumpeter Yukon, AKA Arkona Res.
ORI 39.46+0.4%Oct 31 9:30 AM EDT
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To: Al Cern who wrote (439)5/20/2000 12:55:00 PM
From: CLK   of 444
 
I have heard some things "good" and recommend you call John B for the update. I think that Greenspan has LOST control of the economy. The reason is 1. Derivatives now total 150 trillion including 150 billion in gold derivatives. These are part of the world money supply and can vanish virtually overnight causing a massive worldwide contraction. 2. The treasury is buying back T bonds in an effort to increase the money supply fighting the Fed and forcing higher rates. This is political and vicious. 3. Credit creation through the issue of credit cards, margin debt etc. is now a much larger source of paper money creation for the consumer and has become an addiction which is going to be hard to break until the cold turkey of the coming bear market breaks the baby boomers high decisively. It has taken on a life of it's own just like what happened in 1929. Gold will go UP big time in the next few months and the dollar collapses under the pressure of trade deficit dollars no longer going into the NASDAQ but being sold and repatriated. I just finished a book I recommend called F.I.A.S.C.O. by Frank Partnoy on the derivatives crisis. Excellent and eye opening explanation of the depths of depravity involved in the world economic scene.
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