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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: Investor-ex! who wrote (39355)	8/22/1999 6:34:00 AM
From: ForYourEyesOnly	Read Replies (1) of 116846

Re: Profiting from Currency Creation Dear Investor-ex, Thank you for your kind response. I appreciate your taking the time to share your thoughts. I would like to confirm the content of your statement. (The following are quotes from your explanation). 1. "The Federal Reserve System purchases the piece of paper from the US Treasury at the cost of the printing." 2. "The commercial bank trades some of its reserves for the piece of paper at face value, or it borrows reserves from the Federal Reserve System in an amount equal to the face value of the piece of paper." This would indicate to me that the Federal Reserve purchase the bills at cost and sell them at face value. That would be "buying for a dime and selling for $100." Can this be correct? Looking forward to hearing from you. Cheers, THC

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