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


To: Jim McMannis who wrote (26739)2/20/2005 1:24:12 PM
From: Jim Willie CB  Respond to of 110194
 
so far, yes
but a USDollar fall is significant
since it is the world reserve currency
and foreign central banks will therefore (and are) diversifying into other currencys
like euro and gold

what Wall Street fails to recognize is that gold is not just an inflation hedge
gold is a competing currency
but it offers no yield, like the debt-backed others
it is also not subject to writedowns

/ jim