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Politics : PRESIDENT GEORGE W. BUSH
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To: MKTBUZZ who started this subject1/20/2003 6:48:52 PM
From: Baldur Fjvlnisson  Read Replies (2) of 769670
 
Confidence in the US currency at some point will collapse,

safehaven.com

and you'll have a run on the US dollar. Money can't go to other currencies, because they have to support the dollar. Gold will act as a monetary currency without the liabilities of ill-guided central bankers. Another way of looking at it is to say that the US has underinvested in capital investments to supply the goods that US consumers are demanding. You have spent your money by buying on credit instead of investing. The Chinese are investing. They are building an empire."

"The US is the largest debtor nation. About $3 trillion are held by foreigners if calculated at the purchase price, and foreigner are still buying US assets. Last year they bought about $45 billion of US equities, but that will change at some point. When people realize there are fundamental problems in the US economy, the dollar will begin to decline in a major way. The process actually started in 2001."

"Other central banks will at some point then try to support the dollar, because if it declines too much, it will hurt their exports. They will be forced to adopt the same policy as the US central bank, and you will have the whole world creating more fiat currency. That's when gold will really run."
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