Posted on 07/02/2002 1:19:38 PM PDT by rdavis84
That's a little more than the percent gold price in dollars since October 2000. If the Euro is being maintained at a steady level vis-a-vis gold then the dollar will lose relative to the Euro.
Real estate is a lot more fun.
I made my comment about Soros above. But here's what I've noted about him and other major manipulators over the years ; they announce their 'intentions' as a sort of ego play. Doesn't mean it's certain, just what's being Worked On at various times. Soros has had much to do with various currency collapses in the past. That's what he does.
Here's some later indicators -------
The BBC News -----Friday, 5 July, 2002, 10:04 GMT 11:04 UK
The head of the International Monetary Fund, Horst Koehler, has warned that central banks worldwide might need to work together to prop up the US dollar.
In an interview in the Financial Times newspaper, Mr Koehler said that "no intervention at all is not the right answer" should the dollar continue to decline in a "disorderly fashion".
The dollar has fallen by around 10% in the last few months, nearly reaching parity with the euro.
But the US administration is opposed to intervention in currency markets.
In September 2000, during the presidential term of Bill Clinton, the US Treasury did agree to joint action to boost the value of the euro, which had reached a record low of around $0.84.
Alan Greenspan, the influential head of the Federal Reserve, the US central bank, is expected to give his view on the dollar's weakness when he testifies to Congress on 16 July.
Danger of meltdown
The global fall in stock markets amid uncertainty over the strength of the US economic recovery has led to further doubts about the strength of the dollar.
The US is also facing the largest trade deficit in its history.
A weak dollar would hurt exporters in Europe and the Far East by making their goods more expensive in the US, while in turn increasing inflationary pressures there.
Mr Koehler said that there was a danger that financial markets could "exaggerate problems so that they become a self-fulfilling prophecy".
But he admitted that there was a one-in-five chance of a global financial meltdown.
That could happen if a further stock market collapse in developed nations happened at the same time as debt defaults by developing countries such as Brazil and Turkey - both receiving IMF help at the moment.
And he warned that the financial excesses of the past had created problems for governments and international institutions.
"We can't have a world where excessive profits are reaped, and then, all of a sudden, the IMF and governments have to repair the damage," Mr Koehler said.
Admitting mistakes
Mr Koehler has admitted that in the past the IMF - which provides short-term financial help to countries in trouble - had not paid enough attention to building a social security safety net for the poor.
The IMF has come under withering criticism - especially from the former chief economist of the World Bank, Joseph Stiglitz - for enforcing financial orthodoxy and deflationary policies on countries affected by the Asian crisis.
Mr Stiglitz has also criticised former IMF officials, such as former deputy director Stanley Fischer, for accepting jobs with large commercial banks after they retired from the fund.
In return, IMF chief economist Kenneth Rogoff said that Mr Stiglitz, who won this year's Nobel Prize in Economics, was "a towering genius as an academic... as a policymaker, however, you were just a little bit less impressive".
Keep a little Gold on hand to pay the taxes on it ;-)
Real Estate and Gold = Finite Quantities
I believe that's his Specialty; ruining currencies.
Just a Little Practice.
The major portion of the gold produced is used in coinage and jewelry (see Metalwork). For these purposes it is alloyed with other metals to give it the necessary hardness. The gold content in alloys is expressed in carats (see Carat). Coinage gold is composed of 90 parts gold to 10 parts silver. Green gold used in jewelry contains copper and silver; white gold contains zinc and nickel, or platinum metals.
Gold is also used in the form of gold leaf in the arts of gilding and lettering. Purple of Cassius, a precipitate of finely divided gold and stannic hydroxide formed by the interaction of auric chloride and stannous chloride, is used in coloring ruby glass. Chlorauric acid is used in photography for toning silver images. Potassium gold cyanide is used in electrogilding. Gold is also used in dentistry. Radioisotopes of gold are used in biological research and in the treatment of cancer (see Isotopic Tracer).
There it is...you can use your gold for jewelry, occasionally filling teeth or for medical purposes. There has to be more gold in existence than is actually necessary for its non-frivolous purposes. Is its value a tulip kind of thing?...it's value is that lots of people say it's valuable.
If I were going to invest in a metal, it would be one that was necessary for technology, construction, manufacturing, or environmental improvement. It would be in short supply, so its mines would become a desirable investment. I got me a gold ring and necklace and bracelet, don't need any more.
Meanwhile, I went shopping last week...for stocks...spent about as much as I would've shopping at sales, for things I don't really need. .
Found some real fine bargains. And you know what? If they don't pan out, well, I haven't really lost anything...would've spent it somewhere else anyway...it's a gal thing.
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