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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (51594)	5/17/2002 11:26:45 AM
From: mt_mike	Read Replies (2) of 65232

JW, not sure if you saw the economics discussion on CNBS this morning regarding the trade deficit and current account deficit. Marci's replacement concluded that the sizeable current account deficit was not really a problem since foreign money would not abandon the dollar for either the Euro or Yen since neither the European economy nor Japan are likely to have any economic recovery without the US. There was no mention that besides the Euro and Yen foreign money could sell dollars and move to gold rather than the Euro or Yen. I know we are in the very early stages of the golden bull when no sees gold as a viable alternative to dollars.

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