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

To: T L Comiskey who wrote (2561)	7/18/2002 11:56:28 PM
From: Jim Willie CB	Respond to of 89467

pulse: gold #319 rising, dollar 103.8 falling >>>>> I must repeat that dollar critical support was 105.5 we have hovered BELOW that support all week long and failed on a few attempts to get above it next support is 100, and that is weak better support is 97, a little stronger I think 100 will be a natural stopping point you know, parity only trouble is that it aint parity with ANY individual currency we just passed parity with the Euro I expect US$ to reach parity with the JYen next year the buck is now 117 yen now apparently stock rallies last under a week they consist of stemming the bleeding, not index rises elsewhere I am hearing of nonsensical crapp that the dollar will correct, find the mean, and stay there and all will be well my experience is that currencies correct, keep going, and go overboard for years, until the country of origin fixes itself and renders itself promising and attractive for foreign investment again round #1 has foreigners sell stocks round #2 has foreigners sell bonds the shock upcoming is for rising rates on the long end from foreign bond selling all while the Fed likely will cut rates on the short end if that happens, the yield curve will slope more heavily its message will be "INFLATION IS COMING" from both the Fed policy in monetary inflation and from dollar-based import price rises much of the import price rise could be absorbed by deflationary forces at large gonna be wild and wooly / jim