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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Square_Dealings who wrote (26740)2/19/2005 1:22:47 PM
From: Jim Willie CB  Read Replies (1) of 110194
 
not simple at all
"the value of gold is purely based on the amount of money borrowed against it and the value of the currency of that debt
very simple"

it is enormously complex when the counterfeit operation for the USDollar currency has a parallel counterfeit process
whereby gold is sold in paper-based futures
what is the value of the true arbiter gold when it too has contamination ???

seriously, absolutely nothing in the history of money has EVER been more complex as modernday gold and money, and not simple

yours seems like a perspective which could render you broke and busted but correct years down the road
beware of complexity

also, here is more complexity
the monetary expansion in this reflation period has NEVER been more improperly devoted within the economy
it has gone to added debt all over the spectrum
the likelihood of defaults and failures grows constantly
if bigtime accidents start to happen, gold might be sold to pay for debts on assets which owners wish not to be dissolved of
somehow I suspect few analysts or smart gold enthusiasts are fully aware of the curve ball risks inherent to Kondratiev Winter cycles
we have imminent debt collapse combined with Asian over-production and export internationally
that is the worst of both worlds in extreme K-Winter style, from a Western perspective
but then again, the Western world (with USA as epicenter) is the grandest abuser of debt

the simpler you make it, the less successful you will be in playing the "great game", which requires work and constant vigilance
after the losses comes an assessment of what went wrong
it usually involves failure to recognize complexity and risk
good luck
/ jim
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