we have a currency war coming between Dollar and Euro
this will get wild
today we approached $1.05 on the Euro, finishing at 104.9
all summer long, experts said that parity would be the limit
not me
I have said consistently, that we will see the Euro reach levels like $1.20-1.30 easily
remember some fundamentals
European Union has a combined trade surplus, which is slight, but a surplus
this compares to a staggering US current account deficit in excess of 5% of USGDP
EU has significant remaining gold reserves
more than 15x what the US holds as collateral for our debt
our US Federal debt is $6,200,000,000,000
next quarter, Congress will be forced to raise the debt limit
I believe the US Gold reserves are down 60% from 1980 levels
gold has been transferred on a massive scale from Europe and North America to China, India, and Asia
this war will be monumental
the Arab and OPEC world will gang up on us, support the Euro, and wage financial war against the United States
when you think about it, the USA has waged a nasty and secret war for decades, all very pernicious
we have forced countries to join our financial system, to invest in our debts, or else be left behind in our engineered inflation mechanisms
I dont know who is more evil
before 2003 ends, I expect OPEC oil to demand gold in payments
the USDollar will get crushed in the next 2-3 years
the decline will feed upon itself
the consequences are frightening but predictable
gold has little to do with Iraq, but that is the pablum most edible to the illiterate masses
the press/media is full of effing morons
/ jim |
