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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (72)	6/6/2002 2:59:49 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Haim: How much lower do you think the dollar will go..??

To: Haim R. Branisteanu who wrote (72)	6/6/2002 3:10:27 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 89467

respectfully disagree, Haim... but agree in certain ways agree: USA is not Japan, since more robust, better accounted for banks, more nimble to engineer change, more inventive to discover discontinuous technology, more willing to plow under bankrupt companies this is not about culture, or tech developmt above differences wont buy us much when it comes crunch time we are more willing to plow under bankrupt companies how about a few of our biggest NYC banks?????????????? unlike Japan, which refuses to do so disagree: it is about banking in the extreme sense our BigBank the Federal Reserve has acted in a secretive manner to sell off 50% of our national gold treasure in 1970's the Fed publicly announced gold sales, which resulted in big dollar declines, big rate rises so this time around they leased gold which was sold they didnt want to attract the attention of currency sharks this is about a bigger banking scandal than Japan will EVER have it is about fraud of our national gold treasure, its mortgage for the front purposes of producing for Clinton-Rubin-Greenspam a decade of supposed prosperity now the gold margin calls have begun and you will see the hell that such policy hath wrought the dollar must unwind down gold must unwind up rates must unwind up false prosperity must unwind to real hardship our regional banks are healthier than Japan's but our Central Bank and Major NYC banks are in trouble they acted corruptly I expect JPMorgan to go bankrupt perhaps by years end and a gold meltup to occur as derivative explosion occurs internal to the US, rate swapping is going on in a big way, large scale corporations exchanged US longterm high rates for shorterm low rates corps with poor shorterm credit contracted with corps with better longterm credit the same swapping will happen across Dollar-Euro lines borrow shorterm USdollar, sell it, buy longterm Euro currency traders have no conscience they will accelerate the USdollar back to where it should be with some overshoot, happens all the time in currencies recall that since 1990, the USdollar has risen a whopping 50% what if we see just 5/8 of that retraced? I am well aware of the consequences of a deep US recession the world has come to depend upon the US economy too heavily the Insane Strong Dollar Policy has exported mfg abroad it also exported US dollar abroad in the form of TBonds that process will reverse, but not without bigtime pain manipulated markets always eventually get unwound, reversed I expect a deep world recession, bordering on depression with GOLD performing in spectacular fashion no, more similarities than you might think with Japan but with a really big important difference corruption within our Central Bank and Big MoneyCenter NYC banks this scandal will be one for the history books and make Enron a footnote one party in common to both: JPMorgan, Enron's mentor one person in common to all: Robt Rubin (once my hero) I call it the upcoming Fed Gold Scandal / jim