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Deflation and Devaluation...... USA welcome to the rest of the world.....
this was talked about two years ago and it is now unfolding.....
the mighty dollar is under pressure and Fort Knox is empty......
But the mighty propaganda machine in the USA would never admit that....
Just like Japan was never going to strike Pearl harbour!!
;-)........ "Gentle" Ox.... Stephen from Australia
caw wrote:
> Not since WWII have we seen the economies of Japan, Germany, and presumably
> the US almost simultaneously head south! It's sure going to be interesting
> to see if the US can bail the world out as it were. Still, it's happened
> before :)
>
> FWIW, a close interest I have in a mortgage origination company that does
> business in a State that has experienced strong economic conditions for
> almost a decade has seen new applications progressively fall by 60% year to
> date. I think the recession is well and truly here, we just don't know it
> yet.
>
> Colin
>
> -----Original Message-----
> From: Kent Rollins [mailto:kentr@xxxxxxxxxxxxxx]
> Sent: Wednesday, July 11, 2001 5:59 PM
> To: OmegaList
> Subject: Re: $ "devaluation" rumor???
>
> Dollar deval? I don't see it. Japan is in the toilet. Singapore and
> Thailand are headed there. China is still slow. Europe is sluggish with no
> signs of recovery and their ECB is not loosening. Half of South America is
> on the brink of default again and Argentina (or is it Peru?) is talking
> about breaking the $ peg. Where is money going if not the good ole USA?
>
> Bill Wolman on CNBC last Friday did point out that the last time the world
> was in a circumstance similar to this one was 1930.
>
> And regarding your inflation comment, I noticed that different media outlets
> are beginning to push the concept of separating "wage inflation" from
> "inflation inflation". Sort of like "PPI minus food and energy". Or "PPI
> minus inflation" equals "no inflation".
>
> Someone else (don't remember who) made a really good point that the thing
> everyone is currently hanging their hat on, the fact that we may be in a
> recession right now and unemployment is still well below 5%, could be the
> one thing that torpedoes us on the rebound. The theory is that as soon as
> the ecomony starts to recover, unemployment will start sinking again and
> inflation will skyrocket.
>
> Of course, with our trade balance where it is right now, if the $ did start
> down, it would be a real bitch.
>
> Kent
>
> ----- Original Message -----
> From: "Bilo Selhi" <citadel@xxxxxxxxxxxx>
> To: "Omega List" <omega-list@xxxxxxxxxx>
> Sent: Wednesday, July 11, 2001 7:15 PM
> Subject: $ "devaluation" rumor???
>
> there is rumor circulating primarily
> from overseas that $ will be aggressively
> sold in the near future.
> can anyone confirm?
> also circulating a rumor about
> new banknotes?
>
> the buck is super strong now and
> the time where the cost of money is
> low and prices are shooting sky high
> and the economy is crapping.
> all what's needed to devalue is here...
> who remembers the last time the buck
> got devalued???
>
> bilo.
> ps. of course CNBC f..cking worthless propaganda
> is saying inflation is under control and strong
> $ is good...
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