Forum Archive Index - March 2004

["Baa Baa" <baa_baa@hotmail.com>]

Looks can be deceiving ...

A little rhetoric from Cullen (masqeurading as financial guru), and 
naturally the market sells short the Kiwi, making him look like he knows 
something (when really the market does it simply for profit), only, shortly 
to be out-manoeuvered by increased foreign currency strength realising their 
windfall on the weaker Kiwi, piling back in, driving up the Kiwi$, and 
possibly even the shorts covering and exacerbating this situ if the rise is 
too rapid.

What was nice though ... was the 0.5 drop boosted US denominated assets in 
Kiwi$ very sharply, -ergo Silver bounces up to $11nz, and Gold positively 
leaps from $575nz to $615nz!

I for one have z-e-r-o faith in Cullen or the RBNZ having any material 
effect on the Kiwi$ other than very short term, against a backdrop of 
inevitable loss of capital trying to effect the process, and worsening of 
the country balance sheet in the process (amidst a chilling backdrop of 
heavy offshore investment of our capital reserves in bloated investment 
markets, a diseased local export market facing genuine crisis, fully valued 
stock market, overcooked property markets, generationally high personal and 
business debt burdens, a balloning balance of trade deficit, and blowout 
government spending ... whew!). Feel the whipsaw effect. We are on the 
[wrong] end of a loooong chain reaction being forex attached to the USD, and 
an ally of the fourth reich.

Some light reading to remind yourself to get some precious metals sometime, 
while the Kiwi is Hot Hot Hot! http://www.whatreallyhappened.com/reich.html

BAA

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