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Pastimes : A Jackass, his PAL(indrome), and GOLD -- Ignore unavailable to you. Want to Upgrade?

To: tonka552000 who wrote (332)	1/22/2003 10:32:42 AM
From: Jim Willie CB	Respond to of 1210

such a claim of goldbacked dollar ending the gold runup is lightyears beyond ludicrous the US Money Supply (even with a 5% gold cover clause) would require a doubling of the gold reserves to fortify its collateral against the current $6.4 trillion in Trez debt with a chronically faltering economy with growing need for domestic safety net measures with continued world police action and sentry duty with never-ending insanity of pork barrel local projects with necessary federal stimulus FUTURE FEDERAL DEFICITS WILL NOT GO AWAY, WHICH REQUIRE CONTINUED OFFICIAL PURCHASES OF MORE GOLD FOR THE TREASURY now add significant new reserve requirements in order to fortify ongoing federal deficits of perhaps $1 trillion in 2004 alone and at least half that in 2003 TO CLAIM NO NEW GOLD RESERVES OR NO HIGHER GOLD PRICES IS ABOUT AS LIKELY AS CLAIMING ENERGY INDEPENDENCE !!! we will need far more gold in the treasury that happens only with a higher price, since the private sector is aware of this (or will be) which results in competition for the increasingly scarce gold TOTALLY LUDICROUS AND BEYOND THE ABSURD in fact, I will go on record as saying that a gold-backed dollar will bring about a $2010 gold price before the year 2010 let that stake come out of the ground and stay there for 7 more years the future has much in store, beginning with a race between Asia sanity and the US/Europe insanity to grab the world's gold the winner will have an absolutely burgeoning central bank from which to distribute staggering and growing sums of capital for expanding their national economy the USA enjoyed this benefit in the 1940-1970 period, only to forget how it happened now the reverse will occur within the USA, as our gold is gone, having given it away at this cycle's lows TO ASIA as for gold and silver owners, EEEEEEHIIIIIII !!! / jim

To: tonka552000 who wrote (332)	1/22/2003 10:50:13 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 1210

reply to JohnG on QcomBuyRange thread dollar decline will be disastrous, since it leads in US to: - foreign retreat from stock market - gradually increasing longbond yield - end to real estate bull market - end to consumer REFI-driven binge - deterioration of Asian bank systems (holding USTBonds) - accelerated abandonment of US financial markets by Arabs - erosion of US corporation earnings - imminent return of gradual price inflation - continued rise in commodity prices - continued rise in energy prices - rise in state taxes, property taxes, sales taxes and my favorite - California declares bankruptcy in 2004 these are all related, and all tied to a declining dollar dont expect any material reduction in the trade gap that proclamation by economists is as ludicrous as the perennial "2ndHalf Recovery" pipedream of bullshit the US economy has a minimal mfg base anymore in the spring and early summer, I said numerous times that the declining dollar would coincide with a rising trade gap, not a shrinking one as hack economists predicted the November trade gap was considerably higher than the summer and hack economists continue their drivel, now claiming it is working through the system WE HAVE MINIMAL MFG BASE, A DISMANTLED AND EMPTY MECHANISM FOR RESPONDING TO A DOLLAR DECLINE the end result in an accelerating dollar decline over time anyone who thinks narrowly about the benefits of more favorable multi-national operation conversion with a lower dollar is missing 98% of the picture the USDollar Decline Vicious Circle will be devastating utterly devastating, and relentless prepare for a chronic liquidation process here in the USA with price inflation all across commodities, led by energy and gold with price deflation all across the product sector, led by technology the result will confound and confuse hack economists for years to come since they think in aggregate terms, if they think at all 321gold.com / jim