Nope! As I have told the 40,000 people around the country who follow me at iexchange.com, when you take control of a nations currency it doesn't matter who makes what laws. The laws of value are simple. That which is percieved as valuable is valuable, that which is percieved as worth less is worth less. What determines value? Two minds or more in agreement. If there is some eccentric billionaire out there buying pennies for a nickel each from homeless people, and nickels from poor folks for a quarter, what happens in the minds of the poor and homeless in terms of value? And if the middle class begins to save all their quarters because they heard that a non profit group supported by the richest man on earth (not bill gates) is buying them for $1.00 each, what happens to the value of the dollar? And as the dollar rises in direct proportion to the demand for it, what happens to all of the other 198 foreign currencies over a relative period of time? And what happens to corporations' currencies whose earnings do not reflect the increased future value of those captured dollars? So yes, NAS is an electronic trading place, where 90% of the companies will report earnings losses during the next few quarters, and whose shares still trade at values over 5x book value. Even though I see QQQ rising 20% from its 52 week low by the end of 2004, the current NAS still has some ways to go before it hits bottom...then start shorting the banks because they called in all that stock at 50% margins, and NAS is down more than 50% now, and then had to further dump the shares on the market to recoup their principal (forget the interest), and then you can watch the bond markets crater as the value of debt (individual, corporate, municipal and federal) becomes worth less, I didn't state worthless, I said worth less, because who wants to borrow money at 10% when the value of the dollars being paid back are rising 500% faster than the term of the loan? Analize that my friend and you see where the market is going right now for the next decade...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
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