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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Tunica Albuginea who wrote (41289)	9/28/1999 3:42:00 PM
From: Jim McMannis	Read Replies (1) of 116759

White Jacket, Thanks for the reply. I'm still baffled as to why the FED, CBs would offer up gold as a reserve currency when they did such a masterful job of diminishing the value of it. This is especially baffling looking into Y2K after they have gone out of their way to downplay cash and tangible assets as a hedge going into the end of the year. Seems like they have opened up a can of worms at the wrong time. I can see where throwing gold into play could cool the stock market and to a small extent the economy but it seems an odd way to do it in light of the fact that raising rates will easily do the job. Rather easy to see that coming back in June, BTW. I can't help but think there is more to this than first meets the eye. Perhaps the CBs are so scared of Y2K they want to hold on to as much as they can right now. Jim

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