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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (22721)3/21/2005 12:48:35 PM
From: philv  Read Replies (2) of 81083
 
The amazing US dollar is showing explosive strength today, helped on two fronts.

First the certainty of another interest rate hike, and the breathless eager speculation of the accompanying Greenspeak. Secondly, European leaders have let themselves off the Maastricht hook, and are now much freer to emulate Greenspan's borrow and spend policies much to the displeasure of the ECB and Central Bank Chiefs. And goldbugs are again crushed. The howls of frustration and anger from the gold gurus such as Sinclair, Embry, etc. together with their predictions of even higher prices in the near future are easily predictable.

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It costs less US dollars now to buy gold and commodities, and it sure looks like this will be the trend as the FED keeps hiking interest rates. Fundamentals, as noted ad nauseam on this board just don't matter. Fundamentals such as debt, deficit and trade imbalances seem totally irrelevant. As I write, the Nasdaq has turned green and the DOW is headed up. What a system! The US has maneuvered itself into a sweet spot where it can do whatever it wants, fiscally, politically and militarily without consequence!

The E.U. decision to re-write its fiscal obligations under the Maastricht treaty will be rewarded by a lower currency. The race to the bottom continues. Today the goldbugs are losers, while the great masses of unwashed mutely stand by, ignorant of their growing indebtedness thanks to government policies.

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