Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (172618)	6/14/2002 9:32:24 AM
From: Earlie	Read Replies (3) \| Respond to of 436258

TE: Printing significantly more paper than is represented by one's GDP is the typical route to currency debasement (and by that I mean real GDP as opposed to the hedonically-juiced slop currently reported by the U.S.). When this occurs, the purchasing capability of the currency is diluted. Historically, folks always pass along currencies that are being devalued and keep whatever form of currency they perceive to be better able to retain its purchasing power. Right now, of the world's four major currencies, three of them (especially the U.S. buck) are under printing pressure. Fortunately, there are no gold printing presses. Gold is artificially held down primarily through gold producer hedging (forward selling) and central bank lending of gold. The producers are dramatically reducing their forward sales and the central banks are running out of gold to lend out. It looks to me like these facts, together with the huge short position already in place, make it darned near impossible to continue the game. Best, Earlie