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Politics : Stockman Scott's Political Debate Porch
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To: mt_mike who wrote (4267)8/9/2002 1:01:45 PM
From: Jim Willie CB  Read Replies (2) of 89467
 
the other big question in my mind is...
clearly a shifting bubble is at work
first stocks
then bonds and real estate
I suspect the exit from bonds will be next, pushed by a resumption in the dollar decline
then the cratering of real estate, as rates and joblessness rise

so where will the FINAL DESTINATION of NYC elite money be?
it fleeced the public on the tech bubble, in full view
it fleeced the nation with gold carry trade, in secrecy

my guess: GOLD
they may be taking leadership from Bank for Intl Settlements
which holds a staggering amount of gold

they will separate their personal holdings from corroding corporate assets in time
the banks might be in far more serious trouble than we know
but they know it

the masses (even among intelligensia) are largely ignorant of the unwinding of the Strong Dollar issue
they probably maintain a view that it will benefit US exporters
but fail to follow thru with capital markets consequences
they dont see a Real Estate bubble
probably because they are right within its midst (or mist)

this bubble game will end badly
but where will the major money eventually go?
ABROAD is not a satisfactory answer
it might go abroad, but in what form?
EuroBonds? maybe
cash? doubtful, since these guys dont collect cash
GOLD? most likely

thoughts welcome
I have been pondering this big question for days
/ jim
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