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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (4313)1/3/2004 11:43:00 AM
From: philv  Read Replies (1) of 110194
 
The amazing thing about the US dollar is that if such a steep decline had occurred in any other currency, that country would have been punished long ago with concurrent and rapid rise in interest rates, and probably a visit from the IMF. Why would any other country or investor take such a loss in their foreign holdings?

Rather than cutting their losses, these countries are supporting their investment by buying even more and more US paper to try to stem the loss. But maybe what they are saying to the US is "If you don't support the dollar, we will simply print our own currency and buy yours. We can print just as fast as you can".

We are in the middle of competitive devaluations and massive fiat money creation world wide. As long as this goes on, debt will continue to rise along with prices.

Should be bullish for gold.
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