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

To: Wharf Rat who wrote (5885)	9/9/2002 11:36:10 AM
From: Jim Willie CB	Respond to of 89467

the gold world is not controlled by the USGovt the world is much bigger now, compared to 1930's almost every conceivable feature of world markets is different NYCity-based Gold Cartel surely plays dirtier but just think of the mindboggling differences now the USdollar is the world currency reserve, supplanting the SwissyFranc (to their extreme displeasure) 45% of the USTrez debt is owned by foreigners 25% of USCorp debt is owned by foreigners 12% of USStocks are owned by foreigners and much more... US trade gap (really balance of payments) is over 5% of US GDP US federal deficit is roughly the same 5% of US GDP translated: US economy needs $900-1000 billion per year of foreign money to continue operations without it, we will implode like a Titanic sucked down not the kind of backdrop where we dictate effing squat !!! we are prisoners of foreign capital, and cannot resign ourselves to admit how absurdly desperate we are now THE US GOVT IS IN ABSOLUTELY UNEQUIVOCALLY ZERO POSITION TO CONFISCATE ANYTHING, INCLUDING GOLD, OR TO DICTATE ANYTHING ANYTHING ANYTHING AS LONG AS WE PARADE AROUND AS THE WORLD'S MOST INDEBTED NATION our indebtedness and real powerlessness is exceeded only by our arrogance and military might check the archives of www.zealllc.com for a great article last year about the consequences of US Govt confiscation I wont search here, but will let you the word CONFISCATION is in the title his main point was that if confiscation were even threatened, then the USDollar would overnight drop 40% in value in the FOREX exchanges this would lead to a stock collapse twice as big as Black Monday 1987, and simultaneously will lead to a writedown in USTrez debts corresponding to at least a 2-3% rise in interest rates, and an economic depression for the following 2-3 years dont worry about it, since that threat is all bark the USGovt is like a megaphoned chihuahua dog as a kid, we used to torture such a dog, spitting on its head as it was chained and barking the USGovt would have to be backed by Canada, Europe, Asia before such a confiscation effort but even then it would not work because the Islamic World would take the lead besides, I dont think Asia would support the confiscation effort, not even close right now, Asia and USA are in opposition on gold I still hold firm with a strange prediction made in mid-August ARGENTINA WILL SOON CREATE A NEW PESO BACKED BY SILVER AND GOLD I look to the latest large-scale destroyed economy to become the first new-era goldbacker they will nationalize their many mines they will print new currency their economy will miraculously revive they have nothing to lose, since their credit is shot I just wonder if anyone with intelligence remains within the confines of their national borders the influx of people and money into Florida is reaching historic proportions my good friend in R.I. here tells me his brother in south Florida is selling $300-500k properties to wealthy South Americans these are not drug lords !!! they are wealthy professionals and business men escaping the devastation of their continent their entire continent will be destroyed financially just a matter of time / jim