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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: Terry Rose who wrote (21775)	10/16/1998 8:09:00 PM
From: Little Joe	of 116796

Terry: RE: "I have a more cynical take on the surprise .25% rate cut. An election is less than three weeks away and with this rate cut and IMF funding the world is now saved at least until after the election." Well you could be right, but I still think the FED is scared because the situation is worse than we know. If the rate cut were politically motivated, I think it would have happened sooner so that the effect would be in the economy by the election. Also, it seems from all that has been published that the FED was worrried about inflation. These interest rate cuts at this stage in the economic cycle practically assure inflation. It seems to me that this was motivated by a lot more than just political considerations. It will be interesting to see how this plays out. If you are right we should see rate increases shortly after the elections. Live long and prosper, Little joe

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