A friend sent me a msg with the comment: Seriously Larry, our economic
picture couldn't be as grim as you may selectively be pointing out.
My response was: It is probably allot worse than i am able to document.
We are now going into a economic dimension that this country has never
experience before and that includes the nations most severe depression. 1929
to 1940.
So just using the chart of the world trading value of the dollar may bring
the significance of the situation home for those who believe this is
actually just the economic dip the president referred to recently.
the latest administration scam is to sell the 400 tons of gold which the IMF
is holding for the U.S. credit account.
They hope this will drive down the mkt price of gold and as well bolster the
dollar.
Hard money people consider it a bad plan. Also England did this a few years
ago as gold was going up and they lost coming and going.
No one took the heat for this very expensive mistake in fact the treasury
minister at the time Gordon Brown is now the prime minister of England.
So who lost? we'll i would think the people who put the money in to the
English treasury.
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