I found this on another forum someone posted:
"looks like OPEC may be on the verge of switching all oil transactions
from US dollars to Euros. Story here:
http://goldmoney.com/en/commentary/2004-02-18.htmlIf this is the case the US petrol-dollar is in some serious trouble.
It will cause the dollar to implode. According to Robert D. McHugh,
Jr. Ph.D. the market is in serious trouble within the next 12 weeks.
Read the summary of his analysis below. He doesn't state what
the "horrific imminent event" might be, but the Euro conversion and
peak oil production must be playing a large part of it.
Like he says take a hard look at your investments, "Defensive
strategies are warranted".
Snip)
http://www.safehaven.com/article-1597.htm----------------------------------------------------------------------
------------------
May 30, 2004
Financial Markets Forecast and Analysis
by Robert McHugh
The Dow Jones Industrial Average rose 221.71 points this week, in
line with the direction of our expectations - but a larger, earlier
move - as our Short-term TII came in last week at positive 22.00.
Let me just say from the outset that the Federal Reserve has
confirmed our Stock Market Crash forecast by raising the Money Supply
(M-3) by crisis proportions, up another 46.8 billion this past week.
What awful calamity do they see? Something is up. This is
unprecedented, unheard-of pre-catastrophe M-3 expansion. M-3 is up an
amount that we've never seen before without a crisis - $155 billion
over the past 4 weeks, a $2.0 trillion annualized pace, a 22.2
percent annualized rate of growth!!! There must be a crisis of
historic proportions coming, and the Federal Reserve Bank of the
United States is making sure that there is enough liquidity in place
to protect our nation's fragile financial system. The amazing thing
is, the Fed's actions mean they know what is about to happen. They
are aware of a terrible, horrific imminent event. What could it be?
One can draw no other conclusion except that the Fed is acting
irresponsibly in its managing the money supply, in fulfilling its
duty to "maintain a stable currency." I reject the notion that the
Fed is acting irresponsibly. No, something is up, bigger than we have
ever seen in the history of the United States. Let me ramble. Perhaps
they simply see the ominous technical landscape we have been warning
about in recent issues, and are attempting to pull out all the stops
to avert the predicted crash. The recent rally in just about
everything is similar to 2003's market behavior when the Fed pumped
massive amounts of liquidity into the system during the first half of
the year. This time seems different. The amount of liquidity is too
large. The Fed is deflating the value of the monetary base by a
fifth! Why are they willing to do this? Wisdom says something bad is
up - big time.
Bottom Line:
The Federal Reserve, contrary to our oftentimes cynical commentary,
is not going to inflate the Money Supply 22 percent simply to get
Dubya reelected. That sort of M-3 rise creates substantial financial
risks that don't justify its necessity. No, something horrific is on
the horizon - and soon. Perhaps the Open Market Committee was treated
to a preview of The Day After Tomorrow - and they believed it! I
don't want to be an alarmist, but I am reporting what I see. Like in
the movie, it may be time for prayer. The Master Planners' prayer is
that all markets float higher on the rising tide of swelling money
and that the coming catastrophe be mitigated or delayed. Should they
be successful in extending the Bubbles, greater imbalances emerge and
the ultimate market event will be worse than if now. Defensive
strategies are warranted.
"But be sure of this, that if the head of the house
had known at what time of the night the thief was coming,
he would have been on the alert and would not
have allowed his house to be broken into."
Matthew 24:43"
.....this sounds very eerie. I think you are on to something.
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