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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (4075)	4/10/2004 5:14:35 PM
From: siempre	Read Replies (1) \| Respond to of 116555

OK! Mish....I'll put you down in the "all is happy & bright" category...keep watching CNN, CNBC & reading The Times....you probably believe the jobs report too... don't know specifically whether this disaster will befall US...or some other economic/financial disaster...but it's definitely approaching at a rapid rate.... here's an excellent piece on where the US is headed vis a vis China & the yuan.... gold-eagle.com here's what John Mauldin had to say about the latest guvmint "all is rosey" jobs report.... frontlinethoughts.com

To: mishedlo who wrote (4075)	4/10/2004 7:41:25 PM
From: TH	Read Replies (2) \| Respond to of 116555

mish, I agree with you that most of this information was rubbish. A comment on China and gold. About three weeks ago I returned from a week-long conference in Europe. My counterparts from China, Hong Kong, Japan, and Taiwan all attended and I had many hours to listen to their views. I asked about China and gold in general and in regards to backing the currency with gold. What I was told was very interesting. First, the reason that China "encourages" the citizens to hold gold is to create psychological support for the currency. Many of the Chinese believe in the strong value of gold over currency. Allowing the ownership of gold, and possible future backing the currency, creates a strong foundation for the paper. And, the reason the Chinese believe in gold is that during bad times, a "ring" of gold could protect a family and provide food or whatever. These were not rings that you wear on your finger, but rather a standard weight that was shaped as a ring. BTW, the guys from Hong Kong and Taiwan amazed me. They were very aware of the American debt load and of Asian support for the dollar. They did not think it would end well, but not as a result of a hidden economic war, but rather as a simple function of economic overextension. TH

To: mishedlo who wrote (4075)	4/11/2004 6:16:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

From that link: " the Chinese government was telling its citizens to buy gold and silver to protect themselves from the coming economic "disaster" that would hit the united states shortly." I have brother and sisters and a couple of dozen friends in Beijing, and they have never heard of that "Chinese gov. told its people to buy gold and silver" staff<g>. It is complete nonsense. Although some Chinese do like to buy 24k gold jewelry, I got some too. And if the Chinese gov. knew the coming economic "disaster" in the US, then why would it still keep so much money as US treasury bond?