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To: philv who wrote (3500)	2/28/2003 12:36:20 PM
From: Jim Willie CB	Respond to of 5423

despite all USGovt efforts, the dollar has dropped 20% versus the euro since last year while we think all is well by maintaining a dollar valued over 98-100 (trade weighted), how is that? the trade gap is a signal of financial HEMORRHAGE $500 billion expected in 2003 $380B in 2002 our strong dollar, even at 100 parity, allows for the US Fed Reserve to fill the Chinese Central Banks with EuroBonds, USTBonds, and GOLD along with a scad of other Asian exporters how is that a good policy? you got it right on a declining dollar breeding worldwide recession this cannot be avoided, if we are to move to a more healthy world balance so let's get on with the recession and destruction it cannot be avoided you seem to advocate for more hemorrhage and blood supply to Asian banks that is a bankrupt policy unto itself there is no way out of this mess a great resistance has been overcome, defying USGovt attempts to forestall the inevitable why do so many people believe the USGovt can stop the dike from falling apart? they have failed so far except they have maintained a pseudo-sense of order on a longterm chart, as JohnJ Murphy says, WE HAVE A DOLLAR COLLAPSE IN PROGRESS I believe USGovt officials want an orderly decline the only trouble is that each racheted step down for the USDollar invites an even more powerful force to foster another step down it continues step after step, three so far since Feb2002 without end, since the fundamentals are so miserable for US$ and those fundys are getting worse, not better / jim