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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: zonder who wrote (267072)11/13/2003 8:46:53 AM
From: Rarebird  Read Replies (2) of 436258
 
<The question is where the USD will be against other major currencies when gold hits $400.>

The POG is a leading economic indicator. A Gold break above $US 400 would demolish the Fed's preposterous claim that inflation may be "too low". It would demolish any tattered remnants of the Treasury's equally preposterous "strong Dollar policy". It would demolish the rest of the world's confidence in their reserve currency. It would demolish the US economy by putting inexorable upward pressure on US interest rates. It would demolish the drive for Empire by the Bush Administration. Oh, yes, and it would also demolish any pretense about a US economic "recovery".
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