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To: Jim Willie CB who wrote (62)1/8/2003 1:05:53 PM
From: philv  Read Replies (1) | Respond to of 1210
 
Absolutely right Jim. For the establishment (advisors, media types, gov't agencies etc.) to admit that there are real economic reasons for the rise in the POG is to admit to their own failure and calls to question their constant touting and pumping.

There is an absence of intellectual honesty when looking at the monetary system, this has been the case for many years now. Also, probably laziness, and a complete belief that "they" or the "US" or the "FED" or whatever will manage and not allow any catastrophic failure. Everything can be "fixed".

This whole thing is one big con game. There is no way to measure the value of the dollar or the Euro. But you are right, as attention and focus is slowly shifted to debt and the massive amount of dollars sloshing around the world, things will change. Sure seems that this process has begun.

Phil