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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: NOW who wrote (2551)	11/23/2003 10:19:25 PM
From: Jim Willie CB	Read Replies (1) of 110194

in 3-4 years, yes, but only after a USDollar crisis as I have been saying for months now the monetary mechanism is dismantled higher rates will not be permitted to help the US$ the industrial mechanism is dismantled absent mfg base will not allow greater exports to help the US$ a USDollar Vicious Circle is at work in ultra-slow motion it will not end until an incredibly large world money crisis and then, and only then, will extreme solutions be proposed dont jump to conclusions on my words and expectorations this will take time but during the next two years, it is entirely likely that the Fed will accumulate gold for that convertibility purpose BUT THEY WILL NOT TELL ANYONE the market will figure it out just like they figured out the CHinese are accumulating gold three years ago the thought of a severe bear US$ market was inconceivable three years ago the thought of a nascent gold bull was a joke the thought of margin debt exceeding March 2000 was a bad joke but we have all three and more I try periodically to think back 3 years and ponder what was thought at the time the market is full of surprises but most importantly, I regard the internal dynamics behind the USDollar decline as having only begin, and to continue for years and years until the system almost breaks the VonMises teachings are clear: when no gold backing of currencies, a process begins with competing currency debasement until each economy is ruined, which brings about a monetary crisis A CRISIS IS THE LOGICAL OUTCOME OF FLOATING CURRENCIES sadly, economists do not study history or economics they invent new bullshit economic theories to support their politics when higher interest rates come next year, big effects will hit and the USDollar will falter once more as the USEconomy falters absolutely no foundation for USEcon recovery is here and now / jim

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