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> Collapse of U.S. Economy Imminent

22 January 2006, 06:39

a bit apocolyptic?

#1, remains to be seen. Doubtful. see:
http://www.truthout.org/docs_2006/010906I.shtml
#2, I don’t get it, a routine debt ceiling increase with the dem and reps blaming each other. Why would the chinese stop buying Ts now, ignite a trade war, and watch hundreds of billions of their dollar denom T drop in value.
#3 government is full of contingency plans. You don’t need an economic collapse for the Feds to confiscate gold for "national security." It’s been done before. What happens to gold mines, and our shares, nationalize those too?
#4, a lot of iranians in the US. Be sure they installed sleeper cells for terrorism long before confronting the US on Uran enrich.
Question, if the Fed and BOJ can play gold like they clearly did Friday, why can’t they hold it under $550 or $600 indefinitely. What incentive does Fed, ECB and BOJ have to let gold go over $600. If they can manage the huge FX market, why not gold?
Many of the fundamentals that support the gold outlook today like twin deficit and US asset-based economy, negative savings etc have been around for years and no one has ever been able to identify the tipping point. People, myself included always under estimate the cleverness and power of ’government’ and its puppetmasters.