Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Bobby Yellin who wrote (4885)	12/29/1997 11:21:00 AM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116762

"A second line of defense is the U.S. Exchange Stabilization Fund. This Treasury Dept fund is authorized to deal in gold and foreign exchange to meet our obligations under the Bretton Woods Agreement regarding orderly exchange rates. Typically, transactions are in the form of currency swaps (we trade U.S. dollars for Korean won *** ) and no budget outlays occur. Secretary Rubin has discretion to use the Exchange Stabilization Fund without getting approval from Congress. Therefore no "scoreable event" occurs. The fund is classified, for budget purposes, as a mandatory program rather than a discretionary one, and therefore would be subject to PAYGO rules. However, since no legislation is involved and no outlays are likely to occur, there would be no PAYGO impact or change in the deficit. (For details about the fund, see page 848 of the President's Budget for Fiscal Year 1998, Appendix.)" concordcoalition.org There are a minimum o'2 reasons we want our $$ back t'way I see it... one is to replace them with our new, stylized monoply money...BTW, have you seen the new 50s yet? The back side really looks wierd... The 2nd reason is w/the dollar being in competition as of 1/1/99 w/the EMU for "acceptable reserve currency" status, we will be diluted immediately upon EMU's issuance as many many many non-scorable currency swaps occur. So here we are printing new money like mad under the guise of less easily counterfeitable currency, all the while we're swapping currencies w/Korea; w/Japan; w/China; w/Thailand; w/Indonesia; w/Philippines; w/Mexico, ad nauseum ... Pretty slick pulling our $ out of circulation this way in anticipation of the EU, eh? O/49r ***** it goes w/out saying... the nations with the most US $$ on hand in THEIR EQUIVALENT** Exchange Stabilization Fund are the nations with whom we have taken advantage of their cheap labor over the years... go back and look at the list... and review in your mind how many times over t'last, oh, say 40 yrs, you've seen: Made in Japan, Hong Kong Philippines Indonesia China Thailand Hecha Mexico etc.... stickers on the bottom of imported goods you & others have purchased!