some thoughts on upcoming G-7 Finance Ministers
I submitted critical quotes that tips their hands among CB's
in the part#3 article last night
I think Japan is totally out of control
they blew $70B in January in defense, total waste
now ECB has pressure to wreck their structures in the EU economy by fiat printing press bullshit operational defense
they might not do it until they feel the extreme pain from fiat attacks
their export business will shrivel
they will become vulnerable to Chinese exports, made 30-50% cheaper
ECB economists and other officials are trying to sound tough
but I wonder how tough they will really be when their economy gets slammed by fiat waves of export flotsam & jetsam
my conclusion is that G-7 ministers will come out with a plan to support the US$ in a manner which will represent a reversal of Oct 1st meeting in Qatar
but they will not want to appear to make an about face maneuver, which will make them look weak, stupid, and desperate
I expect the Fed, ECB, BOJ to lose control in time
probably before we are too far into 2005
they will issue a statement that supports the free FOREX markets to set currency exchange rates,
but they will also make clear their intention to bring about the adjustments in an orderly manner
that means they will make direct comments about supporting the American Peso
when DXY goes under 85, when JYEN goes to parity, when EURO goes over 130,
THAT IS WHEN SHIT HITS THE FOREX FAN !!!
(coming by summertime, in time for prez primaries)
these guys are getting scared of the mess they created with fiat currency debauchery
the signal of distress is GOLD, which they dont talk about
what could they say to sound competent?
not much
they went down a path in 1971
actually the USA led on the path breaking away from Bretton Woods Boulevard
these clowns foolishly followed on a path to ruin
/ jim |
