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Ira, can you give us your take on the dollar versus
the euro or canadian dollar and where things might go
here? The euro failed the other day to take out its
recent C point down on the daily charts at 124.26
(june contract), and I'd like to hear any thoughts you
might have from here on either Euro or CD. Thanks.
--- "mr.ira" <mr.ira@xxxxxxxxxxxxx> wrote:
> Here is another opinion on what is happening in the
> markets. He is also looking at inflation or
> stagflation and its effect up0on the markets.
>
> Saturday, March 20, 2004, 5:53:00 PM EST
>
> Gold Community Heads Up
>
> Author: Jim Sinclair
>
>
>
>
>
> Japanese Authorities May Cease
> Yen-Selling Interventions
>
> Informed discussions in Japan concerning
> the possibility that the Bank of Japan (BOJ) might
> cease intervention in the yen is being seen in the
> currency trading fraternity as a possible trap for
> the dollar bears in terms of the yen.
>
>
>
> However, reports of these discussions
> lend credence to my sources who argue that the
> Federal Reserve is scared to death of a potential
> inflationary price explosion caused by Japanese
> market intervention.
>
> The real purpose for that intervention
> is nothing less than keeping the world's equity
> markets intact by flooding it with liquidity via the
> purchase of all the dollars raised in this process
> under the management of the NY Federal Reserve Bank.
>
> I do not believe the BOJ can simply walk
> away from intervention so my feeling is there will
> be some technically-timed intervention by the BOJ in
> the dollar/yen equation. Nonetheless, the use of
> this dangerous "Made in Japan" Bernanke Electronic
> Money Printing Press has run its course. The damage
> has been done. It will take generations to set this
> right.
>
> A deceleration in the use of this
> Japanese monetary experiment at the request of the
> Federal Reserve now places the world's equity and
> bond markets in potential jeopardy, setting up the
> probability of Stagflation and the inclusion of
> inflation into the weak dollar equation.
>
> All that being said, I am changing my
> strategy in gold and suggesting you do the same.
> Having bought correctly and made some sales into
> strength, I will now hold the balance of my
> position, adding to it on any price weakness but not
> making any further sells at these levels.
>
> If gold chops down in this breakout
> phase, I will simply go to a full long position
> according to my means and risk acceptance. I might
> consider a "Texas Spread" in gold if the price is
> right over the next week .
>
> The impact of running up historically
> huge dollar amounts of intervention and splashing it
> willy-nilly into the bond market to maintain a
> false interest rate and then falling away hard from
> that volume will push gold to significantly higher
> prices in my opinion.
>
> We will still buy weakness and sell
> strength but the major change is that we want a
> better price on the sells.
>
> I'll keep you posted.
>
>
>
> ATTACHMENT part 2 image/gif name=spacer.gif
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