VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: stockman_scott who wrote (47182)	1/29/2002 1:45:57 PM
From: Jim Willie CB	Read Replies (4) of 65232

I expect confidence in paper to diminish as the year progresses stocks, bonds, currency even US Treasurys, as the US$ slides and inflation rises stocks are backed by balance sheets and hidden entities (see proforma crapp, suspicious writeoffs, consulting fees, option costs) bonds are backed by the fate of debtridden companies (some companies have far more debt than assets or mktcap) currency is backed by the quality of the country leaders and institutions (see Argentina and Japan in obituaries) I see a steady return fullcircle toward hard assets the watchword for 2001 was DEBT the watchwords for 2002 are DEBT and HIDDEN LOSSES I remember 1972 and Bretton Woods a climax in debt concerns is soon to occur, but not too soon this will usher in a new phase of panic: CURRENCY it will coincide with new eruptions in MiddleEast, Arab oilfield, and NoAmerican terrorism / jim

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