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.

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

To: lurqer who wrote (10168)	12/8/2002 11:45:32 PM
From: lurqer	Read Replies (2) \| Respond to of 89467

Oh well. investorshub.com lurqer

To: lurqer who wrote (10168)	12/9/2002 10:47:29 AM
From: Jim Willie CB	Read Replies (3) \| Respond to of 89467

excellent quote followed by clear future perspective "O'Neill has been unable to maintain the illusion that the dollar is worthy of being the world's reserve currency," says James Turk, founder of gold payment system GoldMoney.com. "So he's gone. Very bullish for gold." ---------------- "The talking heads on CNBC and others are putting on a "full court press" trying to convince the public that the bear market is over. This is a lie. The stock market has two phases, accumulation and distribution. When the market is up the "professional traders" (sharks) and brokerage houses are distributing stock to the suckers. When the market drops by large amounts (crashes) the sharks accumulate stock. Before this bull trap ends, prices should be near or in resistance areas SP500 955-971, and Dow 8935-9080. Only a decline beneath key short-term support of 916 in the S&P and 8636 in the Dow (both the highs of November 18) would indicate that a top has been recorded and the next leg of the bear market is underway. Spread the word." "The dollar will crash back to pre-bubble levels of around 80, and possibly will undershoot even lower. The world will then be on a de-facto Euro standard, as faith in the U.S. dollar and U.S. assets will have been lost. This drop is a decline of over 26% from current levels and corresponds to a gold price of around $430. "At the moment, the dollar uptrend is still intact, so the Fed's dangerous game still continues. Until the 104 dollar is breached, stocks and bonds can continue to rally. When it is breached they will fall simultaenously. It will be a double whammy for these assets, because not only will their prices fall in dollar terms -- as foreigners exit -- the dollar itself will be falling. In short, dollars and dollar denominated assets are overowned by the rest of the world. Once the reversal comes there will be no stopping its downward momentum in my opinion." -RICH SPOHR, Swiss America broker, 11/27/02