Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: steve susko who wrote (460)	6/14/2002 10:06:47 AM
From: Jim Willie CB	Read Replies (3) of 89467

Rick Santelli of CNBC made some critical observations with the Pakistan bombing overnight, money is finding havens (apology for last week calling him Santucci) however... TBonds are rising as yields are falling BUT the dollar is under serious pressure, and GOLD is up his conclusion: - only US citizens are fleeing into 10-yr Treasurys - foreigners are fleeing into GOLD dont assume CB's remain in full control much control of TBonds and dollar has been exported in 90's this is the greatest and most dangerous fallacy now blind faith in Greenspam is misplaced I find the most serious risk right now is the USdollar since so so so many dollars are held abroad, the US Govt is now just about at GUNPOINT not to do anything stupid like having your 6-yr old daughter held for ransom they CANNOT confiscate gold, or else suffer 30% dollar decline they CANNOT announce even trade tariffs without consequences no, I disagree Central Banks have not only ceded control of TBonds and Dollars, they have GIVEN AWAY almost half their GOLD this is prelude for bankrupt nations the world economy is sliding into the abyss / jim

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