Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Louis V. Lambrecht who wrote (13301)	5/27/2002 8:22:32 AM
From: Frank Pembleton	Read Replies (1) of 36161

Louis... if I remember right - I don't believe there was - it was a very brief slap in the head! As for middle ground? We're going all the way... :) You guys know how to find this information but I heard on the radio the other day that the U.S. fed is renewing the escalation of their money supply to support the economy, the banks and of course WOT - so I guess it's just a matter if time before we see some substantial inflation as the G7 competitively devalues their currencies. The Japanese are concerned with a rising yen because of renewed interest in their markets - they're printing like crazy too! The Euro? - They’ll have no choice but to devalue with all the new farm subsidies and import duties put in place by the U.S. government. Here, let me say it again, “competitive devaluation.” I've always assumed if the big currencies like the dollar, the yen and the Euro - all devalued together - couldn't they maintain the illusion of fiat invincibility? Catching the bottom like we did in the precious metals sector was the easy part - finding the patience to let this all play out is going to be a lot tougher. Regards, Frank P.

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