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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (25564)	11/19/2002 3:53:04 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 74559

as central banks scramble to resupply their gold reserves, they will implicitly devalue their currencies again as their govts scramble to stimulate their economies, they will explicitly devalue their currencies again the frightening unspoken issue now is collateralized sovereign debt at what point does extreme debasement of currency affect the price versus gold? I say "long ago" the CB scramble will be made more serious when China makes its intentions more clear they are soon to make their yuan currency gold-convertible their trade surpluses are growing 5-8% per month! if & when Islamics band together in forcing payment for oil in Dinar (gold-backed), then CB scramble will become desperate history is very clear building an economy on the back of mining is the precedent we are in this mess now because of the appeal of paper, at the expense of hard assets the first response by the economy has been to turn (in a fakeout) to housing for security but the paper corruption game has infected even real estate the correction in prices will severely hurt the US Economy gonna be wild, that is for sure we must settle in disagreement currency debasement plus debt defaults will launch gold gold convertibility in competing currency will accelerate the ascent that is my position / jim