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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: long-gone who wrote (45272)	11/24/1999 5:23:00 PM
From: John Hunt	Read Replies (2) of 116770

$370,000,000,000 enough to calm Y2K fears? << Sometimes read posts here about finance markets liquidity will / is drying up due to Y2K fears of investors AND urgent need of short term loans by smaller banks. Will this fix the issue? This is from Financials Times, Tuesday issue: US: NY Fed eases Y2K liquidity fears By Edward Luce, Capital Markets Editor The New York Federal Reserve has sold almost $370bn in "liquidity options" to leading banks in an effort to quell panic about the millennium bug. Bankers said the popularity of the options, which offer buyers insurance against the possibility that markets could dry up because of Y2K problems, had already eased fears about the bug. The New York Fed, which conducts open market operations on behalf of the US Federal Reserve in Washington, said it is planning further auctions of liquidity options in the next few weeks. >> ... more at ... greenspun.com Psst ... Wanna buy a hot Fed option? Alan, say it isn't so.

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