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

To: pbull who wrote (6342)	9/13/2002 5:04:57 PM
From: Jim Willie CB	Read Replies (3) \| Respond to of 89467

we have simultaneous economic distress on every continent the world is in no way prepared for what comes next with Japan for several years, experts have said Japan implosion is coming and for years, it was stalled why now? because of the worldwide recession (the Post-Y2K Recession) Mauldin cites Weldon on the imminent Japanese bank implosion why now? because of the worldwide recession which forces its hand this will eventually result in liquidation of Japan's best assets... UNITED STATES TREASURY BONDS a banking system complete implosion awaits Japan they rescinded their limited bank deposit insurance coverage that wont matter as currency collapse will result as soon as they monetize their bank system losses the yen will plummet, lifting the dollar temporarily but the winner will be gold across Asia China faces deflationary ravages also I read that 75% of their nation's lending comes from 4 big big big banks and 3 of the 4 are at risk of total insolvency now other Asian economies are faring little better they are seeing their currency rise versus the USdollar, thus ripping shreds out of their export business profit margins later, their bank reserves held in TBonds will suffer as America buys less trinkles, Asia economies will grind to a halt Europe is also in a mess, whose origins are not so much debt-based and inflated asset-based they suffer from both the heavy weight of socialist systems and complete and utter stupidity by EuroCentralBankers they are still fighting inflation, when the vicious killer DEFLATION is ravaging its landscape last week DoucheBag Duisenberg at the ECB decided to leave rates alone wow, stupid last week German Congress decided to rescind a tax cut in response to horrendous damaging floods wow, stupid now Europe is on course for a recession that will precede America's South America is a basket case they are not so different from the United States really except their sovereign (read: govt) debt to NYCity banks, London banks, German banks, Spanish banks is not securitized in the form of Treasury Bonds like the US federal debt so SudAmerica will implode as its bank system collapses if only they nationalized their gold/silver mines and created new backed pesos that leaves Middle East and East Asia no education, no entrepreneurial spirit, no economic intelligence whatsover only bullshit headupass Islamic teachings and poverty not to mention tyranny well, also squandered oil wealth that never reached the masses there you have it, covering the continents get ready for the MOTHER OF ALL RECESSIONS coming to a nation near you I remain, A Jackass

To: pbull who wrote (6342)	9/13/2002 5:51:24 PM
From: Jim Willie CB	Respond to of 89467

Current account deficit swells -- CNN.com article Gap in broadest measure of trade tops record set in 1Q, coming in above Wall Street forecasts. September 12, 2002 WASHINGTON (AP) - The deficit in the broadest measure of trade swelled in the second quarter to a record $130 billion, reflecting Americans' hardy appetite for foreign-made cars and other goods. The latest snapshot of trade activity reported by the Commerce Department Thursday shows that the mushrooming "current account" deficit in the April-June quarter surpassed the previous record of $112.5 billion set in the first three months of this year. In the trade report, the current account deficit is considered the best measurement of a country's international economic standing because it measures not just the goods and services reflected in the government's monthly trade reports, but also investment flows between countries and unilateral transfers, including U.S. foreign aid payments. The current account deficit grew more in the second quarter than many analysts were predicting. They were forecasting the deficit to widen to $126 billion. The high-flying U.S. dollar, which has lost some altitude this year, could improve the U.S. trade picture in the coming quarters. A weaker dollar makes U.S. goods cheaper in overseas markets, something that would make U.S. exports look more attractive to foreign buyers. As other country's economies heal from a worldwide slump, demand for U.S. exports also should get a boost. [TOO BAD WE DONT HAVE ANY MFG BASE TO EXPORT FROM OUTSIDE INFOTECH] In the second quarter, the deficit in goods increased to a record $122.6 billion, from $106.4 billion in the first quarter. The government said that imports of cars and consumer goods grew strongly during the second quarter. So did imported crude oil, largely reflecting higher prices. On the export side, the largest gains in the second quarter were reported for industrial supplies, capital goods and automotive products. In the services category, which measures such things as airline travel, the United States is running a surplus. The surplus grew to $12 billion in the second quarter, up from $10.9 billion in the first quarter. The deficit in investment earnings widened to $6.3 billion in the second quarter, compared with $946 million in the first quarter. The category of unilateral transfers, which includes payments that the U.S. government makes in foreign aid to other countries, narrowed in the second quarter to $13.1 billion, down from $16 billion in the previous quarter. The Bush administration recently scored a major trade victory when it won congressional passage of the negotiating authority the president will need to strike new global trade deals. [THAT IS A MATTER OF OPINION] In a second report, the Labor Department said that new claims for unemployment benefits surged last week to the highest level in more than four months, suggesting that spotty economic recovery in the United States is taking a toll on workers and companies. New claims last week shot up by 19,000 to 426,000, the highest level since the week of April 20. Businesses facing economic uncertainties have been wary of making big commitments, including hiring and capital investments, factors restraining the recovery. [THESE JOBLESS CLAIMS OVER 400K PER WEEK ARE SHOCKING] [RECOVERY??? ARE YOU INSANE??? WHAT RECOVERY???]

To: pbull who wrote (6342)	9/13/2002 5:57:09 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

Schultz & Sinclair from FinancialSense on Derivatives Mountain of Unregulated Derivatives is De Facto Financial Terrorism by Harry Schultz & James Sinclair September 13, 2002 US Government Report (Comptroller of the Currency) reveals massive unlisted & non-transparent derivative (short) positions in bankers' ("weak") hands. Conclusion We stand at turning point for the return of gold as currency. Meantime, gold can rise to $1,450 to $1,700 over next 5 years. The significance of the recent Quarterly Report of the Office of the Comptroller of the Currency on derivatives on the books of U.S. institutions: U.S. Banks, all of whom are gold dealer cartel members, carry 69.4% of the $72,000,000,000,000.00 derivatives that exist worldwide. JPMorganChase alone carries 35% of the $72,000,000,000,000.00 derivatives that exist worldwide. WE MAKE THESE 5 CRITICAL OBSERVATIONS 1. The war against gold is a war to sustain the entire mountain of "sewage" (Warren Buffett's term) derivatives. 2. The size of the sewage mountain of debt is "over the top," beyond reason & financial insanity. It is the gift to mankind from the "Instant Gratification Economy" of 1970 to 2001. 3. It is the mechanism that history will point to in the future as the place in time, when & why the reinstitution of gold as a currency began in earnest. 4. It is the reason that gold can go to $1,450 to $1,700 over the next 5 years. There will come a clamor for a return to the gold standard to establish "standards of behavior" in society. Gold is where standards can be founded. 5. This mountain of debt insanity is more dangerous to mankind's standard of living than all the terrorists on the planet. It is, in fact, a defacto collective act of financial terrorism. FOUNDATIONAL FACTS This derivative sewage mountain of Financial Terrorism is 97%: * Unregulated * Unlisted * Not clearinghouse funded * Not marked-to-market (i.e. according to real market prices), but rather by computer simulation * The computer simulation for mark-to-market is not standardized * Dealers are commonly non-guaranteed as to trade debt subsidiaries generally offshore to the domicile of the well known investment and commercial bank parent holding companies * Non-transparent instruments * Without standards, closure (closing out) cannot be made at will. Standards mean similar instruments which, if purchased, close all obligations Greed must pay the piper in the end © 2002 (This article appeared on 9/11 in GoldChartsRUs) James Sinclair, Chairman, Tan Range Exploration Corp. (TNX) www.tanrange.com and Harry Schultz, Int'l Harry Schultz Letter, www.hsletter.com