10:42p ET Sunday, December 26, 2004
Dear Friend of GATA and Gold:
Chris P. Dialynas, managing director of Pacific Investment
Management Co. (PIMCO), the big bond house, has just
written a comprehensive study of the international financial
situation, "Trouble Ahead, Trouble Behind." It purports to
outline a remedy to the explosive imbalances in the world
economy.
Dialynas' program includes:
1. Cut by 15 percent across the board all U.S. social
spending programs.
2. Increase U.S. tax rates.
3. Increase incentives to save in the United States:
consumption taxes.
4. Devise capital controls such that capital cannot be
exported out of the United States.
5. Debt renegotiation/forgiveness by countries with
cumulative high trade surplus with the United States.
6. Change the Federal Reserve Board's objective
function to include a constraint on the trade deficit.
7. Prohibit the sale of highly sensitive technology and
defense to all foreign countries.
8. Revalue China's currency to U.S. dollar by 40
percent.
9. Enact targeted protective tariffs if needed.
10. Renegotiate the World Trade Organization.
11. Prohibit the Fed from purchasing bonds from
foreign holders of U.S. debt.
Conscientious as Dialynas is, he may succeed mainly
in demonstrating the likely political impossibility
of any escape from disaster -- and in raising once
more the question of why Pimco, which repeatedly
generates analysis like this, arguing that U.S. debt
renegotiation/repudiation is inevitable, should be
so heavily invested in, of all things, U.S.
government bonds.
You can find Dialynas' study at the Pimco site here:
http://www.pimco.com/LeftNav/Latest+Publications/2004/Dialynas+Paper.h [1]
tm
Or try this abbreviated link:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Free sites:
http://www.cbs.marketwatch.com [6]
http://www.gold-eagle.com/ [8]
http://www.GoldReview.com/ [12]
http://www.capitalupdates.com/ [13]
http://www.DailyReckoning.com [14]
http://www.goldenbar.com/ [15]
http://www.silver-investor.com [16]
http://www.thebulliondesk.com/ [17]
http://www.sharelynx.com/ [18]
http://www.mininglife.com/ [19]
http://www.financialsense.com [20]
http://www.goldensextant.com [21]
http://www.goldismoney.info/index.html [22]
http://www.howestreet.com [23]
http://www.depression2.tv [24]
http://www.moneyfiles.org/ [25]
http://www.howestreet.com [23]
http://www.minersmanual.com/minernews.html [26]
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html [27]
http://www.goldcolony.com [28]
http://www.miningstocks.com [29]
http://www.mineralstox.com [30]
http://www.freemarketnews.com [31]
http://www.SilverSeek.com [33]
http://www.investmentrarities.com [34]
http://www.kuik.com/KH/KH.html [35]
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm [36]
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm [37]
(In English)
http://www.resourceinvestor.com [38]
http://www.prudentbear.com [40]
Subscription sites:
http://www.lemetropolecafe.com/ [41]
http://www.goldinsider.com/ [42]
http://www.interventionalanalysis.com [44]
http://www.investmentindicators.com/ [45]
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm [46]
Ted Butler silver commentary archive:
http://www.investmentrarities.com/ [47]
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
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BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
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888-413-4653
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Centennial Precious Metals
3033 East First Ave., Suite 807
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1-800-869-5115
http://www.USAGOLD.com [49]
Michael Kosares, Proprietor
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www.ColoradoGold.com [51]
Don Stott, Proprietor
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Gold@gwe.net [52]
El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net [53]
Harvey Gordin, President
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harvey@eldoradogold.net [54]
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7850 Metro Parkway
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Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
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Kitco
178 West Service Road
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Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
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http://www.kitco.com [57]
Lee Certified Coins
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454 Daniel Webster Highway
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www.certifiedcoins.com [58]
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leecoins@aol.com [59]
Miles Franklin Ltd.
3015 Ottawa Ave. South
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1-800-822-8080 / 952-929-1129
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info@mocoin.com [61]
314-965-9797
1-800-280-9797
http://www.mocoin.com [62]
Resource Consultants Inc.
6139 South Rural Road
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Pat Gorman, Proprietor
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Metalguys@aol.com [63]
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15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com [64]
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com [65]
----------------------------------------------------
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