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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST
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To: Bobby Yellin who wrote (41627)10/2/1999 1:39:00 AM
From: PaulM  Read Replies (2) of 116764
 
Hello B. My take on the CB statement is that it is an abandonment of the U.S. dollar.

Here's a good link which I think puts this in historical perspective (especiialy the sections "How Forex Intervention Affects the Money Supply" and "The Breakdown of Bretton Woods") When reading, just substitute Japan for the Germany of the the 70's, and substitute the ECB for the DeGaulle of the 1970's.

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