Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: EL KABONG!!! who wrote (34560)	6/1/2003 2:42:12 AM
From: energyplay	Read Replies (1) of 74559

Hi Kerry - Umm, I think all currencies will move down relative to gold, maybe only 20-30%. The competitve devaluation sceanario. Almost all governments have debt or implied obligations they either can't or don't want to meet. Examples would be social security and medicare in US, pensions in Europe, loans to state entrerprises in China, bad bank loans in Japan. Inflating currency and screwing the bondholders is a time honored way of fixing these debt and obligation issues. In countries with proportional or progressive tax systems, or any place where the government has income or can get income from real assets (land, mineral rights, 3G radio spectrum rights, factories, office buildings) only a modest inflation and a little time - maybe 2-4 years - is needed for things to get close to being balanced.

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