John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (7454)	11/21/2006 7:32:10 PM
From: Louis V. Lambrecht	Read Replies (1) of 33421

John, could you elaborate a bit on the signs you are watching. Re: Iceland, I only was watching the Kronor in the assumption that: one of the few countries to still have a central bank and a possible escape to safety currency. Lost >20% value between Nov 2005 and April 2006 (more in EUR, 71 to 97 ISK for one Euro) and rebound failed in Oct last. Hungarian Forint and the NZ Dollar took a hit in the same period, to a lesser extend. What worries me more in the article is the phrases as "as long as they can service the debt", which will be IMVHO the next financial system. While individuals or even sound companies (low debt ration) face foreclosures or bankrupcy, companies up to the neck in debt will be helped out with other loans as long as the debt can eventually be serviced. In short, confiscation of wealth/destruction of capital replaced by a debt servicing system. This could work forever, even in *anyflation, de-, re-, in-... not even an M3 anymore to know where is too far. Until stoopid un-patriotic persons would refuse yet another loan and request to work but for food. Where to hide?

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