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To: Simba who wrote (195648)	10/6/2002 3:13:32 PM
From: yard_man	Respond to of 436258

everyone already admitted to JHP that the USD is the reserve currency of the world -- that's all he ever really says. USD is the reserve currency of the world ... no revelation there -- no matter how many times he says it. Growth of the money supply and the boom in dollar-denominated debts is undeniable. At some point debt service becomes a problem -- it always does when debt creation goes "parabolic." I don't care if he understands the implications or not ... ultimately other assets will become more attractive. Just because it didn't happen the day after we began talking about it he asserts that it isn't possible for foreign flows to change currency relationships and the relative value of USD denom assets to other types of assets