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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC)
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To: ahhaha who wrote (392)5/10/2000 2:01:00 PM
From: ahhaha  Read Replies (2) of 587
 
That was a great post AHhaha.

Looks like this old dog is putting in a very nice scalloped bottom. It's slow as a snail, but it isn't losing value over time.

With the FED fixing the fed funds rate to assure we are protected from bad times at the same time they are protecting us from inflation, there's no telling what random outcome is in the works. Everyone in the world thinks the FED is wrong. All think either the FED is too tight or too loose when that they are doing is the problem.

Friedman thinks they are doing the good job by fixing rates ever higher and providing plenty of liquidity to make sure the higher rates don't do what they are supposed to do. Friedman gave up money targeting because it didn't create instant nirvana, so he went back to money price engineering.

FED is building an ever increasing rollover problem. Do you remember Kris Kristofferson in "Rollover"? The RP free float keeps getting bigger and they have gone to tri-party and term to spread the effect and diffuse the side effects. At the level of another 100 basis points the efficiency of capital at the effective general rate of tax on capital swallows AG's WinXXX productivity. The sensitivity therefore of an incremental increase in RPs becomes ever more pronounced in its final economic effect, since the increased money goes more and more to less efficient production. Make a little error which is becoming more probable given the growing size of RP mass and you have bigger output fluctuations, so you have to err on the side which gets the grade from Humphrey-Hawkins.
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