Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: H James Morris who wrote (8870)	11/6/2002 3:24:50 PM
From: Jim Willie CB	Read Replies (3) of 89467

Fed is making a LAST DITCH gamble with the dollar currency the buck is sliding badly, now 105.6 for a year now almost, the Fed knew that continued lowering of the shortend rate structure would put the USdollar at risk I believe they kept rates at 1.75% FedFund with an eye on the FOREX the foreign exchange currency market is the ultimate arbiter I keep repeating that if the FOREX sees the dollar slipping, then the bond market will reverse, which I expect to happen a higher bond yield on the long end represents a TABLE SLAM AGAINST THE FED POLICY that is what I expect bonds dont cooperate, no new mortgage REFI rounds then bonds start to pick up speed in rising rates and foreigners pull out money in both stocks and bonds which feeds upon itself, leading to a lower dollar still the VICIOUS CYCLE pushing the rate reversal nightmare I believe the Fed just kicked loose the logjam on the dollar to the downside !!! which is what gold has been waiting for the stock-bond-stock-bond-stock cycle will break next / jim

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