ERHC Energy Inc (ERHE)

[bsk2007]

Hey maskers - You are right. This mess is starting to mirror the 1870's depression which was a lot worse than the one in 1929.

It's strange how questionable mortgage policy is at the center of both meltdowns. When real estate crashed in the 1870's it caused the banks to tank because they were using overvalued real estate as collateral for their loans. This collapse of the paper empire in turn caused commercial credit to seize up because they didn't have the money to lend to the smaller banks. The small banks were sitting ducks without access to low cost money.

The 1929 stock market crash which was triggered by factory mismanagement and the inevitable rising unemployment, caused a panic which resulted in a run on banks. There were other factors but erroneous monetary policy is largely believed to be the major culprit for the deepening of the depression.

I am very embarrassed to admit that I come from a family of banksters on my father's side. The history of his family coming to this country is a direct result of the 1870's depression in Europe which was particularly wide spread and long lasting.

Can the 4 trillion dollars that is being injected into the world economy stave off collapse of the 145 trillion derivative mess we find ourselves in? My guess is yes, although there's no telling what we will look like when we emerge from this mess.

ERHC is looking like a genius here. Quite by accident I'm sure.

Someone wrote that we have world class technical partners. I have to take issue with that statement.

Andarko is world class.

Addax is a wannabe but the jury is still out on them. Drilling this deep is the big leagues so don't expect them to perform flawlessly.

Sinopec doesn't know s&#% from shinola. The only reason the world doesn't realize this is because they don't say much. If they did their ignorance would become painfully obvious.

caio
bsk