This certain talk about a US crisis in August is giving me flashbacks to Y2K. Sure we all know that the US financial system is a house of cards. But, doom and gloom date-setters have an almost perfect record of being wrong. It is interesting that both China and Russia are ENCOURAGING their citizens to buy gold. This is a whacky world when the red commies are encouraging private ownership of gold but the governments of the "capitalist" West are playing smoke and mirror games to KEEP their citizens from buying gold! I think I feel an article coming on... The stainless steel colossus of the United States seems unstoppable as the world superpower. Except for its achilles heel. The Dollar. Foreign citizens have been snatching up US 100 dollar bills as the savings instrument of choice for a couple of decades, allowing the US government to inflate away the money supply without feeling inflation at home. Foreign citizens have been financing the US government with their savings. The end result is that there is more cash outside the US than inside the US. Our two largest former opponents, now competitors, Russia and China, which together control almost one third of the world's population, are upset to be left out of the game as, in the case of Russia, their communist policies destroyed their economy, or in the case of China, communism kept them in the dark ages. It must burn their national pride to see the US Dollar being used as the savings instrument of choice by their citizens. National pride is what has probably pushed Russia and China to start encouraging their citizens to buy gold. If they outlaw the use of the US Dollar (which Russian officials have discussed) and legalize the use of gold they could possibly CAUSE a US financial crisis by sending billions of US dollars back home to roost. So maybe the Russians are HOPING the USA will have a financial crisis in August. Or maybe they are planning to START one. I wouldn't place any money on the date, but a Sino-Russian monetary alliance to use gold as currency and ban the internal use of the Dollar would have interesting consequences indeed... Ken Griffith --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Did you know that the new e-gold Secure Random Keypad can help you to protect your passphrase from both keystroke & mouse- click "sniffing" trojan viruses? You can find out more about computer security at: http://www.cert.org/tech_tips/home_networks.html
