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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: goldsnow who wrote (43839)	10/26/1999 2:30:00 AM
From: ahhaha	Read Replies (1) of 116759

Johnson, like most economists, is confused about the difference between the free market's pricing of money and that of the FED. The FED is fighting what the free market would do. You certainly can't argue against that and neither can Johnson since the existence of the 5 1/4% target is out of hand refutation. Is Johnson saying European monetary authority will follow the American free market or will such authority follow the FED and apply countervailing fiat creation against what Europeans would do in the open market? Doesn't matter what is happening in the bond markets of these two spheres. Don't you know about how CBs resist what the people demand or at what rate anyone will lend? Do you and does Johnson doubt the integrity or wisdom of the FED? The ECB can't have such noble aspiration. They've got countries to run and that means the great 20th century disease gets the nod. My bet is that the ECB will not raise rates. If they did, you can kiss the EU goodbye.

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