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Gold/Mining/Energy : At a bottom now for gold?
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To: Bobby Yellin who wrote (1390)7/11/1998 9:55:00 AM
From: Vieserre  Read Replies (1) of 1911
 
Thank you for the link which I will subsequently read.

The greatest risk of global depression IMO may not be because exports to the Asian countries are curtailed or because of the slum in commodity prices. The lower Asian market is simply not big enough, Japan was never known for its imports, and the US market which is the main economic driver is basically self-sustaining. Fed Governor Roger Ferguson stated a few days ago that he sees no threat of deflation in the U.S. But if Asian countries, as well as Russia, are not able to pay dollar debts to foreign banks and other foreign lenders - this may in turn affect the lenders domestic ability to loan or pay others or in a worse case cause bankruptcy. Ah, that is the rub. And that is why I believe the IMF as a cornerstone to its lending policy has conditions to protect the payment of such debts.

Vieserre
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