Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Moominoid who wrote (25918)	12/6/2002 8:43:19 PM
From: Hugh A	Read Replies (3) \| Respond to of 74559

Moomin, help! In '34 (before Bretton-Woods) the USD was devalued by (a) confiscating gold and (b) changing the price of gold (still convertible for non-US citizens) from US$20 to US$35. We are now in an era of competitive devaluation with the Japanese CB calling for 150 yen to the $, and the US threatening to fiddle the yield on long vs short bonds to apparently do the same thing they did in the '30s; i.e., devalue the USD. My question is, will this do anything for gold, or will it simply crash the bond market without affecting the POG? My heart says POG should respond, my head says a "barbarous relic" might not. Any thoughts from an economic perspective? Hugh A.