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To: zonder who wrote (267530)	11/17/2003 8:39:15 AM
From: orkrious	Read Replies (1) \| Respond to of 436258

has anyone looked at briefing.com's new site? does it seem like all they've done is raise the price from $10 to $25?

To: zonder who wrote (267530)	11/17/2003 5:35:56 PM
From: GraceZ	Read Replies (2) \| Respond to of 436258

You may want to ask yourself why it is that the majority of Europe's gold resides in a vault in lower Manhattan. While you may find the military actions brought about by this country to be offensive to you personally you should also acknowledge that a large part of the world, especially the EU depends on the US military might as well as it's economic strength for their own security and they have since WWII. Perhaps this is one of the reasons they hate us so. It's not a popularity contest. A currency's strength has to do with the underlying economic strength of the country. The further countries get from Capitalism and the closer they get to Socialism the more they will destroy their economies. Has no one there learned anything from the implosion of the former Soviet Union? Perhaps not, judging from this statement of yours: It seems to me that in most socialist countries, certain important industries are state-controlled, and hence prices of main input materials - like electricity, oil, coal, cotton, etc - can be kept in control. Are you talking in theory or do you really believe this is possible, that you can control the prices of main inputs? All depends on your definition of a "socialist country", of course. Socialism is rather well defined, I didn't have to do it. From each according to his ability, to each according to his needs. Or some variation of this...it's hard to believe that so much pain could have arisen from such a seemingly well intentioned statement. Now that this faith is fast eroding, EUR might very well step up as the next reserve currency. And you think this is so because stability, as you seem to have defined it, means that the value of the US dollar travels in a straight line? The US economy is gathering strength and the dollar is falling. Do you think that those two things are contradictory? Remember that the dollar rose for a long time after the economy had already shown significant weakness. Perhaps stability means a currency backed by a country that has been a union for over two hundred years instead of a loose affiliation of different countries of varying economic condition who have been at war with each other off and on since the beginning of civilization. And its member states don't really have to adapt a more capitalist stance for that to happen. They do if they aren't going to take the same path that the Soviet Union took. We're headed in the same direction you guys are, you are just further along. Those countries that took Socialism to the Communist extreme learned from their blunders. They'll bury both of us, but Europe first.

To: zonder who wrote (267530)	11/18/2003 8:56:02 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 436258

And just like that, with USD falling from grace day by day, EUR is the only other liquid currency suitable for the job of "reserve currency". I think it is quite possible that this transition might occur. Figure the odds... The Europeans can't even manage to integrate themselves into a Confederation with an effective central government. Currencies are backed by governments. Governments that are viable, stable, and have sound economic policies/history.. The Euro enjoys none of these qualities. If anything, the events of the past year have shown exactly how unstable the EU is.. (Old Europe versus New Europe). Which makes for serious currency risk.. Secondly, even if the USD is declining, the fact that so many countries depend upon our economy to buy their exports almost guarantees that they will continue to hold those dollars, or purchase US assets with them (T-Bills.. etc). This is the problem Europe is facing now with the surging Euro. It's not a sigh of economic health, IMO. But a sign that some money, deployed in the US, has sought an arbitrage in the Euro itself as a currency, but not really feeling comfortable deploying into European equities.. And some of that money was US money fleeing a declining US dollar that was overvalued to the detriment of the US manufacturing. I might be more worried if we didn't still see near double digit (or more) unemployment in the major economies of Europe (which has been growing over the past year). oecd.org If people don't have job security, they aren't likely to spend the money it takes to spur a true economic recovery. Hawk