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

To: Sully- who wrote (1995)	7/12/2002 3:03:50 PM
From: Jim Willie CB	Read Replies (5) \| Respond to of 89467

the untold story nowadays is the TOPPING BOND MARKET especially the short end, e.g. 3 month, 1 year, 2 year with dropping rates are coming strong appreciation a chart of their principal value indicates a real top in round #1 foreigners sell USstocks in round #2 foreigners sell USTBonds all safehavens are attacked during bear markets until no havens remain intact for years the USdollar served as safehaven currency no longer for years the USTBonds have been serving as safehaven among safehavens foreigners have seen SOME of their currency losses offset by the rising dollar-based principal value, as US long rates have come down during this flight to safety but now we will soon see foreign selling of USTBonds during the next leg down for the USdollar that is my best guess they will conclude "enough is enough" I was startled and amazed to read that Richard Russell believes there to be an outside chance of US Trez default !!! wow, I never considered that instead, I just expected rising rates to continue to attract foreign capital / jim