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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (3575)	12/17/2003 6:18:18 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

GM & Pensions prudentbear.com When does this nonsense end?

To: russwinter who wrote (3575)	12/17/2003 9:52:46 PM
From: ldo79	Respond to of 110194

Housing market rolling over? ========================= LATEST NEWS 10:50 AM PST Monday Bay Area new home prices fall A sharp fall in new home prices in several Bay Area counties may be the long-awaited signal that the price appreciation boom in California homes may come to an end next year, says Foreclosures.com of Fair Oaks, a privately held company which tracks foreclosure activity in 18 California counties as well as the metro areas of Phoenix, Chicago, New York City, and all of New Jersey. The steepest drop was in Alameda County where median new home prices fell 25.9 percent to $453,250 in October 2003 compared to the same period a year ago, says Alexis McGee, president of Foreclosures.com. Prices of new homes fell 15.5 percent in San Mateo County, 14.1 percent in San Francisco, and 11.2 percent in Santa Clara County year over year. sanjose.bizjournals.com

To: russwinter who wrote (3575)	12/17/2003 11:47:06 PM
From: ild	Read Replies (1) \| Respond to of 110194

Thursday, December 18, 2003 MOF To Add Y40tln To Funding For Currency Interventions TOKYO (Nikkei)--The Ministry of Finance plans to increase by 40 trillion yen the amount of financing bills that it can issue to pay for currency market interventions next fiscal year, The Nihon Keizai Shimbun learned Wednesday. This addition, which will be incorporated into the fiscal 2004 budget, and the 20 trillion yen increase already included in the supplementary budget for this fiscal year will bring the total increases planned so far to 60 trillion yen. With the increases, the MOF will have up to 140 trillion yen to spend for currency market interventions next fiscal year. The government sets a cap on the amount of financing bills it can issue to procure funds for currency interventions. This fiscal year, the cap was set at 79 trillion yen. In a bid to alleviate upward pressure on the yen, the government has conducted massive yen-selling interventions topping 15 trillion yen since April. As a result, the amount procured so far has already surpassed 70 trillion yen, leaving little room for additional funding. Speculation is rising within the currency market that the government will become unable to conduct aggressive interventions if its spending nears the limit. The government sets a cap for currency market interventions as part of the budget every fiscal year. If approved, the rise would mark the first increase of 40-60 trillion yen. (The Nihon Keizai Shimbun Thursday morning edition)

To: russwinter who wrote (3575)	12/18/2003 5:36:54 AM
From: westpacific	Read Replies (2) \| Respond to of 110194

99% of Americans have no clue to the BIG PICTURE. And this is the BIG PICTURE: --- I had not thought about our perilous future for some time. But a question from a reader started me contemplating again the terrible dangers lurking up ahead because our government has spent the 20th century wallpapering the world with flim-flam dollars. He asked, "What likelihood was there that the U.S. and other foreign governments would sell off significant portions of their gold reserves in order to reduce their debt, should the price of gold become tempting enough to do so?" This would never happen, of course. America's current national debt is $6.9 trillion and its upcoming liabilities are approximately $44 trillion. So the $140 billion worth of gold in the U.S. Treasury's vault would be but a drop in the bucket in comparison. Even if gold would skyrocket to $3000 per ounce (which it could well do), it still would give us only $1 trillion to dispense toward $50 trillion in government debt. So selling off gold at higher prices would never be a workable solution to our catastrophic problems. But the governments of the West are definitely selling off portions of their gold -- just not to pay their debts. They are doing so to try and "manage" the price of gold for as long as they can. The Fed and the U.S. Treasury know that they have no chance of keeping gold under $400 per ounce while they devalue the dollar down into the 60's on the USDX charts. But they hope that through their secret machinations with the mega-bank cartel in New York, they can keep a slowly rising lid on the price of gold and prevent a price explosion that would set off a panic amidst the world's investors. This is of crucial importance, for such an unbridled explosion would send the bond vigilantes into overdrive. U.S. Treasuries would be cast over the rail like so much flotsam at sea. Interest rates would scream. The Dow would crash. Asians would head for the lifeboats. Arabs would demand Euros for their oil. America would cease to be a superpower. The economic meltdown would flatten the world's economies like flower gardens in a hurricane. 321gold.com WEST