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

To: mt_mike who wrote (3772)	8/2/2002 12:16:28 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

I agree, Mikey... the gold rise will be from a few factors alternative to bonds huge Fed monetary expansion will seek path of least resistance growing international tensions miners continue to cover hedged sales only sector that SEEMS to work as for TBonds, we Americans are very shortsighted foreigners will repatriate their money invested in USTBonds they will bring them home to local bonds that will provide the healthier, less debt-ridden economies with a lower interest rate from which to recover while the US debt situation worsens and our TBonds are sold off by foreigners giving us rising interest rates while the economy weakens I do believe the TBond selling will be very slow at first because plenty of American stock investors will continue to hunker into bonds as they exit stocks they foreigners selling will eventually overtake them and later foreigners will overwhlem them the VICIOUS CYCLE will continue to hurt the USdollar we have far too much foreign money at work in our financial markets it is a sick and deadly dependence as we slip into recession, earnings will disappear, hurting stocks further and that will push the USdollar downhill again coming: higher rates with economy sliding toward recession NEVER SEEN BEFORE IN THE USA, except in 1930 the vicious cycle will feed upon itself I expect it to get somewhat out of control by 2004-05 / jim