Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: oldirtybastard who wrote (1138)	12/3/2000 1:57:43 PM
From: Bid Buster	Read Replies (1) of 74559

he already has..do a search on his holdings as well as buffet.. the only sure bet play in declining currencies is precious metals..just ask any korean what he could buy with a few gold coins in his pocket vs. what other koreans could buy hauling wheelbarrows full of worthless won's in '97. could it happen to the u.s. dollar? yes...will it happen?..very possible...remember Nixon took the dollar off the gold standard..the dollar is unbacked.. nothing more than an iou, just a promise to pay..the only reason we have a strong dollar is because theres so much faith in it. foreigners will be the first to bale if they lose faith in the dollar...they'll sell u.s. stocks, bonds and treasuries faster than you can say oh sh*t taking those markets down with the dollar...with all of our exported debt there could be hell to pay..if that should happen we could see hyperinflation that would make turkeys inflation look tame...pre wwII germany had 10,000% inflation...we had it here in this country before too..ever hear of the continental?

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