It will be interesting to see how Investorhub and Silicon Investor work as "friendly competition". According to news releases Bob Zumbrunnen bought Silicon Investor from InfoSpace.
What are your thoughts on Jim Sinclair and his ideas regarding the dollar and gold. Today he posted a summary of what he thinks should happen and what the consequences would be if this does or does not occur:
Therefore the fix for the US dollar - if President Bush wishes to remain in office in 2005 - is as follows:
Value all Treasury gold at the market price London second setting daily. Re-institute a revised "Federal Reserve Gold Certificate Total Value Ratio." But this time tie it to the rate of growth annualized monthly for M3.
When the rate of annualized growth of M3 is higher than the plus 3% required to maintain a positive economic base (Chicago School 1960s), the value of the gold held by the US Treasury must rise by the higher annualized percentage growth of M3 minus a 3% standard. If M3's annualized rate of yearly growth declines below 3%, no change is required. Treasury gold is not convertible as gold/dollar convertibility is a trade balance fix. That is a limited solution.
In all probability, the US Treasury will not have to buy one ounce of gold in the marketplace if like now there is a significant percentage difference between the annualized creation of money defined by M3 and the acceptable 3%.
The reason for this is that the major international investment houses that will sponsor such a plan at the Treasury and the US Federal Reserve will also create a derivative speculating on this change and most likely list it on an exchange. The price of gold will become sensitive to the potential adjustment of the gold price which will adjust itself.
Since a balance sheet fix will be applied for the US dollar, and control over the amount of dollars outstanding will be put in place, this is both positive for gold and stabilizing for the gold market.
Therefore, if this plan is adopted before June of 2004 and before gold trades above $529, gold will trade plus or minus $50 from the price of the day of adoption of the strategy, making the US dollar "As Good As Gold." Such a transition would make the Bush/Snow dollar "A Storehouse of Value" as the US Treasury Secretary wished by his own statement last week.
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