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

To: mishedlo who wrote (67919)	8/10/2006 10:52:16 AM
From: Mike Johnston	Read Replies (1) \| Respond to of 110194

Mish, how do you feel about gold at this time. I remember last year you were bullish starting in August at $430. 4 th quarter is strongest.

To: mishedlo who wrote (67919)	8/10/2006 11:03:06 AM
From: jim black	Read Replies (3) \| Respond to of 110194

Indeed you do seem to refer on quick perusal to opinion that inflation is due to printing/computer entries, which I assume to mean that you mean inflation is strictly a monetary phenomenon, a point with which I heartily agree, my opinion of inflation being that IF we had responsible lawmakers/government spenders we could manage with a fiat currency IF the govt limited growth of money supply to growth in real goods and services, REAL numbers, not hedonic crap that Greenspan fostered over 18 1/2 years. The ONLY reason one would consider a commodity based currency with all its problems is that it would enforce a discipline on these demopublican bozos who spend on national budgets...yes I believe are not as far apart as I judged. And for that matter, Ha, as if anyone even asked me, IF we had spent the billions we have in Iraq on Fischer-Tropsch plants on GTL/CTL technology similar to krauts in WWII ( I can say that because I am 1/4 German) and we could be independent of Mideast oil...no such luck. I reiterate surprise that Martin Weiss who seems right about lots of stuff actually stated that inflation is due to high oil prices. I suggest he go back to reading about inflation form the Austrian School sources. jim black

To: mishedlo who wrote (67919)	8/10/2006 12:37:47 PM
From: RJA_	Read Replies (1) \| Respond to of 110194

This is IMHO a great deal about semantics. Inflation/deflation vs causes of same. If we agree on definitions, semantics go away, and much of the argument. Proposed definitions: Inflation: A general increase in price levels regardless of cause. Deflation: A general decrease in price levels regardless of cause. Once this is accepted, we can argue about causes of same, whether they be: 1. Supply and demand of scarce and useful commodities (oil, nat gas, uranium) 2. Relentless expansion of medium of exchange (printing money) 3. Possible collapse of medium of exchange by vast write off of worthless loans: Fractional reserve banking applied in reverse. Makes much more sense IMHO <grin>.