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

To: stockman_scott who wrote (1259)	7/3/2002 9:53:16 AM
From: Jim Willie CB	Respond to of 89467

euro now benefitting from "hot potato" currency effects but I expect that to be a hot&cold phenomenon right now we see the euro coming off near parity with US$ it is backing off now, around 97.8 cents but they dont want a higher currency we MUST now view the world from European eyes unless they sell massive EuroBonds, they will get into trouble a stronger euro means more importing of foreign cheaper goods those imports (to them) will get cheaper, so demand rises thus THEY will see a rising trade gap Europe now has a small trade surplus, which will disappear so, later, their leaders will encourage a reversal they will want the USdollar to rise back but the dollar will be in trouble that is where GOLD enters the equation NO NATION WANTS A REAL STRONG CURRENCY USA LIKED IT, BECAUSE IT ENCOURAGED BUYING OUR COLOSSAL AND GROWING TREASURY DEBTS IT ALSO STROKED OUR INCREDIBLE WORLD ARROGANCE there is real serious bragging rights when the dollar supplants the gold reserves in world banks only trouble is, when that process reverses, you get world depression!!! GOLD will later be seen as a HOTMONEY MAGNET it will attract the hot potato that nobody wants / Jim