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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

4:00 PM EST

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To: Rarebird who wrote (41476)	9/29/1999 9:15:00 AM
From: Tunica Albuginea	Read Replies (1) of 116762

Rarebird! Gold up and holding well above 300. This is an important base to hold for a couple of days. Folks are still not getting it. This market is going to/has to tank big time at least 20% from the high. It HAS to tank to do away with " the wealth effect " which is causing consumers to spend and overheat the economy.(Durable goods uo 0.9 % this AM:higher than expected ). Only this way will Alan G.avoid having to raise rates to cool it which however will curtail Fed liquidity for Y2K. The purpose of AlanG. telling CB to stop selling gold is exactly that: get gold prices up-->get Bond yields up--> tank the market-->cool economy. All this has to filter through skulls thickened by 15 year talk of " new economy and no inflation ". When wage inflation shows up ( Friday ) the market will tank just as fast as gold prices went up. Except that this is more serious. The 2000 y2k world wide goods-production disruption will create widespread shortages of cheap goods thus causing inflation. The world economy up + Japan economy up + oil prices up + healthcare prices skyrocketing will sharply reduce value of the Dollar and raise gold. The Banks will not be able to lower gold prices because the only alternative to that ( first 6 months 2000 ) is to raise interest rates and they can't do that for y2k, all IMHO, TA

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