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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: T-Lo Greens who wrote (94570)	4/17/2003 7:20:53 AM
From: Real Man	Read Replies (3) \| Respond to of 116832

Tony, I view the whole current US situation as similar to Roman empire before it collapsed. The empire is, however, economic. 7 biggest US banks have the monopoly of printing the World reserve currency, the USD, through the Federal Reserve. This explains 15% money supply growth with "low" inflation during bubble years. Almost no goods are now produced in the US (80% "service" economy), because foreign labor is cheaper, so they have to sell USD to foreigners in order to import goods. Now it seems foreigners had enough, so the dollars exported in the 90-s will come back and cause hyperinflation. The current regime has teeth, and will be defended, even if that means all of US gold reserve has to be sold. This is exactly what happened in Yugoslavia in 1999, when Euro was introduced - US led the war in the center of Europe to undermine Euro and defend USD. That was a complete success. Now the war for oil in Iraq. It has to be in US dollars, and show the World once again who is the superpower. Well, it's not working now - nobody wants any more dollars. In the end, when S. hits the fan, I believe, the public scandal will be of enormous proportions, when it discovers all gold has been, in fact, swapped to the European banks, so the gold kept at Fort Knox belongs to the Germans, the French, the Swiss, and other CBs announcing gold sales in the 90-s. I believe, more certificates will be written by the US on supposedly its gold at Fort Knox than there is gold at Fort Knox, which will lead to gold notes default similar to collapse of Bretton Woods. The public outcry will likely lead to the new gold standard and abolishment of the Fed. Printing gold (aka world reserve currency, USD) is very convenient, for those who are near the printing press. Unfortunately, it has extremely negative aftermath. We'll see, but time may be near when the USD goes into free fall similar to other currency crises. This one will bring down the world.