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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: westpacific who wrote (4916)1/13/2004 11:39:02 AM
From: Jim Willie CB  Read Replies (1) of 110194
 
crude oil in euro denomination will throw logs on US$ fire
it will not crash the USDollar in any quick fashion
what it does is to add momentum to the worldwide trend of a shift away from the US$ as both a world reserve currency and a currency for international commerce transaction settlements

the USDollar decline will gather some steam and downward momentum
some dismiss the threat as trivial
I DO NOT

here are two major consequences
1. intl settlements in euros will lead nations and major trade firms to use European vendors in other contracts

2. the OPEC and Russian price targets will slide up and up and up in US$ terms, in keeping with the euro appreciation

thus, US Economy will be hurt
and energy prices will continue to hurtle upward
a major storm is brewing, as we are in a major EW3 wave, where fundamentals, technicals, and public awareness all align

HOWEVER, MASSIVE CORROSION COMES FROM THE NEXT DOMINO
AS COMMERCIAL DOLLAR STANDARD SHIFTS TOWARD THE EURO,
CENTRAL BANK RESERVE HOLDINGS WILL SHIFT AWAY ALSO
AND THAT SPELLS BIGTIME TROUBLE FOR US INFLATION AND INTEREST RATES
ASIANS WILL DIVERSIFY AND PURCHASE LESS OF OUR USTBONDS

I love to hear Greenspasm even use the devastating words "DOLLAR CRISIS" in the same sentence
coming from a bank politician, his denial is now a confirmation
/ jim
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