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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (3110)	7/22/2003 8:38:48 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 4909

hi Jay, this is precisely why even if the RMB manages a 5% revaluation upward, it will come back down again due to PBOC (People Bank of China - Chinese central bank) dropping money from helicopters to fix the issues you pointed out. well, our debt is bigger than your debt! -g- remember, the present value of the unfunded pension and other obligations of the US govt is US$44 TRILLION according to a study commissioned by Paul O'Neil and buried by the White House. this makes the US$500 billion of NPLs in the Chinese banks seem downright prudent -g-. Competitive devaluation may be the natural outcome of deflationary bouts i would agree that this is the behavior targeted by the world's CBs, especially the export-driven ones. however, as we know they cannot all be "lucky losers", even though they all have problems. i have a feeling the US will be "luckiest" of all, though. with everybody trying to debauch their currencies, i am really starting to take seriously the lunatic fringe idea of gold making a serious comeback and going to parity against the DOWn.