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

To: polarisnh who wrote (93570)	1/30/2009 2:36:47 PM
From: Mike M2	Read Replies (1) \| Respond to of 116555

Richard Russel talked about the US $ might rally as the world reduced leverage.

To: polarisnh who wrote (93570)	1/30/2009 10:38:44 PM
From: Proud Deplorable	3 Recommendations Respond to of 116555

I agree with you on this. I have been looking for a motive for this attack on Schiff but for the life of me can't find a good reason for this episode to have started except that it is exactly as you suggest, to get people on the psychological wrong end of the reality that the USD is trash and is about to dive into oblivion. To trash those recommending gold as the financial investment answer to this upcoming plunge in USD valuation. And since when does a mainstream financial rag such as WSJ, just another propaganda vehicle to keep people believing in a now defunct capitalist system, have any real editorial credibility among those who have already waken up to the fact that nothing from Wall Street can be trusted at ANY level. Those who grew up in the '60s and '70s by the credo "Question Everything" are the real survivors of this propaganda machine from Wall St. Peter Schiff is my hero, nothing will change this. That said no one has a 100% record. But he is on the side of righteousness and against the corruption in the USA and therefore gets my support. I don't want this corrupt system to survive. I'm sick to death of corporatism and therefore hope that Schiff turns out to be right. AND if anyone doubts the USD is going to plunge along with the markets next week (timing as you said) look at this: ---------------------------- CNBC: "BAD BANK PLAN IS DEAD".... Charlie Gasparino just dropped a bomb... The "Bad Bank" plan is now dead. ...whodathunkit?!?! There goes the chance of the DOW turning green. Get short something and tighten your stops on gold stocks. Mo later, SOTB --------------------------- Bad Bank Plan Blows Up, Because US Banking System Is Bankrupt... --> Why the "Bad Bank" plan blew up and why it won't work... --> Sen Chuck Schumer and Goldman are both using a $4 Trillion number... find out why that still won't be enough. --> Why "The Sweden Model" makes "too much" sense. --> The missing "piece of the puzzle" that no one is talking about... why? sliderontheblack.com Mo later, S.O.T.B.

To: polarisnh who wrote (93570)	1/30/2009 11:17:52 PM
From: John McCarthy	1 Recommendation Respond to of 116555

"the reason these coyotes are coming out of their dens right now to attack Peter Schiff" Yes - it IS a dollar thingie - their dollars ... Early last year, Richard De Gennaro, a retired Harvard University librarian, put $100,000, about 15% of his assets, into a Euro Pacific account that included Canadian Oil Sands Trust, which focuses on crude-oil projects in Canada, and the India Capital Growth Fund, which holds investments in companies that do business in India. Both investments took big hits in 2008, compounded by the fact that the Canadian dollar and the Indian rupee fell 18% and 19%, respectively, against the U.S. dollar. The 83-year-old retiree's account is now worth about $37,000, a 63% plunge. Mr. Schiff "goes around saying that he was right," says Mr. De Gennaro. "He was right about one thing and wrong about everything else." Among investors who turned to Mr. Schiff's firm just as his strategy began to falter, Brian Kullberg, a design engineer in Portland, Ore., says he started to worry about the state of the U.S. economy in early 2008. He put $70,000 into a Euro Pacific account, hoping it would benefit as the U.S. economy and the dollar weakened. By late January 2009, his investment had shrunk to about $25,000. Message 25369763 John McCarthy