Newsgroup: it.economia.investire
Titolo: I'm selling some of my USD stocks to diversify

This article mentions John Williams, and his criticism of hiding the M3
data.
Does anybody know of other work by him? Is he reliable?
http://www.wnd.com/news/article.asp?ARTICLE_ID=53311
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   U.S. dollar facing imminent collapse?
   Fed in bind as Paulsen, Bernanke head to China
 
______________________________________________________________________________________________________________
   Jerome R. Corsi
   © 2006 WorldNetDaily.com
 
   Even as the stock market is hitting new record highs almost every day,
the Federal Reserve and Treasury Department are
   quietly coordinating a devaluation of the dollar that the Bush
administration hopes will be a slow decline rather than a
   dollar collapse.
   This week, in an unusual move, the Bush administration is sending
virtually the entire economic "A-team" to visit China
   for a "strategic economic dialogue" in Beijing Dec. 14 and 15.
   Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben
Bernanke are leading the delegation, along with five
   other cabinet-level officials, including Secretary of Commerce Carlos
Gutierrez. Also in the delegation will be Labor
   Secretary Elaine Chao, Health and Human Services Secretary Mike Leavitt,
Energy Secretary Sam Bodman, and U.S. Trade
   Representative Susan Schwab.
   The Bush administration wants to get China's cooperation in preventing a
dollar collapse. That's the conclusion of John
   Williams, an experienced professional econometrician, who writes the
"Shadow Government Statistics" blog.
   Williams has re-created M3, a money-supply measure whose data the Federal
Reserve simply stopped publishing after issuing
   a technically worded March 2006 announcement.
   Williams reports M3 is currently growing at close to a 9.6 percent rate
and trending higher, compared with an 8 percent
   rate early this year, when the Fed quit reporting the measure.
   "The Fed is pumping liquidity into the U.S. economy," Williams told WND,
"and the Fed evidently did not want the markets
   to follow too closely what the Fed was doing with the money supply."
   China today now is holding a historically unprecedented $1 trillion in
foreign exchange reserves. During the Thanksgiving
   holiday, an announcement by China that their central bank planned to
diversify foreign-exchange holding away from the
   dollar caused the dollar to drop in value on international currency
markets. Since then, the dollar has hit a 20-month
   low against the euro.
   "This was almost an orchestrated announcement," Williams claimed. "Around
Thanksgiving the markets were thinly traded.
   I'm not sure who was playing games there, but the signal was clearly
heard."
   "You're dealing with mass psychology here," Williams argued. "The central
bankers around the world know they are going to
   take a hit on their dollar holdings. None of the central bankers want to
start a dollar panic, but none of the central
   bankers want to be the last out of the dollar, either."
   Williams explained that the Federal Reserve is in a bind.
   "Raising rates would kill any chance of avoiding a recession, but in
terms of the dollar, we can't raise the rates fast
   enough when the dollar starts to slip quickly."
   Are we experiencing a dollar collapse?
   "Not yet," Williams answered. "I believe we're going to have a dollar
collapse, but the Fed is going to do its best to
   slow play the dollar's decline in value, so that it takes a year or two
for the dollar value to reach its low point."
   Williams explained the risk of collapse the dollar faces:
   "There will be a central bank, most probably in Asia, who will start the
move away from the dollar and when it happens,
   you're going to see other central bankers covertly trying to follow. The
move will magnify very quickly and it could
   become a full-fledged panic and a dollar collapse."
   The Fed is struggling right now to contain inflation and stimulate
economic growth. All the Fed is doing right now with
   all their grand policy shifts is using a lot of propaganda and market
massaging to try to prevent a financial panic."
   Recent reports have shown that U.S. gross domestic product growth slowed
to 1.6% in the third quarter, the lowest in more
   than 3 years.
   Will a declining dollar help narrow the U.S. trade deficit with China?
   "You could take a 30 percent decline in the value of the dollar,"
Williams argued, "and it wouldn't make much of a dent
   in our trade deficit with China, not as long as Bush administration trade
policy continues to one-sided in favor China."
   "The Fed is faced with an impossible circumstance with the trade and
budget deficits being run by the Bush
   administration," Williams told WND, "and they are just playing games with
the markets and the public by not publishing
   M3, the broadest measure of money supply and the best indicator we have
of long-term activity."
   M3 is the broadest measure of the total money in the economy, including
checking and savings accounts, cash, time
   deposits, and money-market funds. Economist Milton Friedman, one of the
key economists contributing to the conservative
   theories that led to the development of "Reaganomics," argued that money
supply is a key measure correlated both with
   economic growth and inflation.

 Does anybody know of other work by him? Is he reliable?
 
http://www.johnwilliams.org/

>I'm selling some of my USD stocks to diversify
a little early.