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Non-Tech : Invest / LTD

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To: waverider who wrote (2202)	8/27/1998 4:21:00 PM
From: Broken_Clock	Read Replies (2) of 14427

Check out the following two currencies: Australian $ Canadian $ both are all time low....both dumped most of their gold last two years. Guess in retrospect that wasn't too bright.-g- Yen is also VERY light on gold backing, but they are a net creditor nation rather than a net debtor like we are. Stronest currencies are US$, DM, FF, Lire, Sterling, Swiss and even the Zlotny(Poland just bought gold to shore it up! Smart move. All have strong gold backing. Think about it....what caused the turmoil in SE Asia and Russian currencies(add S. Africa and L. America)? As reported, it is a "lack of faith" that they will be able to repay theirs loans. That's cause they have little gold relative to amount of currency printed(i.e. "inflation"). The only thing that keeps the house of cards together is faith that the debtor will repay and/or has the ability to repay. Russia has neither at this point in time. If they sell off the rest of their gold they will not be able to repay their current loans and then will be in worse shape than they are now... Look for further turmoil. US Treasuries are being sold off by Japan and Britain now. They are selling into strength. Why? 'Cause they think the US$ is headed down. Gold will rise in $US terms.

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