For your edification:

The Decline and Fall of the US Dollar

Ray

-- Ray (ray@totacc.com), September 12, 1999

Answers

Interesting read. While I don't agree with everything in it, it does add some perspective to recent events. I continue to be shocked by the level of complicity on Wall St. and the Fed's part. Clearly there is some type of struggle being waged between ourselves and the Japanese. I don't buy for a second that their economy has recovered this quickly. Nor do I buy the fact that ours is humming along so well. Christ people look at last friday's reported PPI. It's simply not believable in any way. Oil prices are up 50%. Check out William Fleckensteins column on a daily basis and you'll see what I'm talking about www.stocksite.com

For educational and research purposes only: Last night the Bank of Japan stepped in and intervened to help prop the dollar up against the yen. I (along with everyone else on the planet who watches these things) was expecting something like this somewhere along the way. By the early going today, it looked to be a rather half-hearted stab and it did nothing for Japan's stock market last night.

The big news this morning, of course, was the PPI data, and the inflation rate was 5/10 of a percent. Of course that is ridiculous when one considers that the BLS (Bureau of Labor and Statistics) had the audacity to claim that crude prices were up 10.9 percent in the last 12 month's, when the price of oil has gone from $14 per barrel to $21 per barrel. In my book folks, that is a rise of 50 percent.

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You'd have to be blind and stupid not to know the game is in motion at this point.

-- Gordon (g_gecko_69@hotmail.com), September 12, 1999.

Ray,

I read the piece but couldn't find the name of the author. Could you help?

mike

-- mike (maples@voy.net), September 12, 1999.

Gordan you are on track. In futures and commodities when looking at forward (sept.,Dec.) charts one can see, if one is atrained tech. that the market (Dow) is going down to 8600, perhaps 7600. Also the dollar probably around 93. Gold and commodities on the other hand(oil) are all breaking out to the upside. The control meister WILL loose control very shortly. Remember it's a global game.

-- rowd (morgan77@home.com), September 12, 1999.

Wow. (I can't believe that I read the whole thing!) Sort of rough in parts to say the least, and it was quoting news sources like the Washington Times without making it clear it was surely from its editorial rather than news section, but it was definitely a worthwhile read.

Recently, on the Gold-Eagle forum (www.gold-eagle.com), in discussing the dollar's fall versus the yen, there was some speculation that the dollar's historic placeholder as the international reserve currency had some residual value even today, and that is the only thing still acting as a "cushion". In view of the subject article, that would make a lot of sense.

-- Jack (jsprat@eld.net), September 12, 1999.

Mike, here is the Home Page for the article:

Home Page

If you bookmark this you save it under "Joan Veon" who may be the author or site maintainer.

Ray

-- Ray (ray@totacc.com), September 12, 1999.