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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC)
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To: ahhaha who wrote (404)5/31/2000 4:19:00 PM
From: ahhaha  Read Replies (2) of 587
 
Well, is it a soft landing or is it hard?

It's isn't either, Hugh.

FED set the new target and is providing plenty of RP support to prevent the demand for fed funds to rise above target, but it isn't doing any good. It is well known that these violations are merely a matter of clearance, seasonal, adjustment, and other irrelevant factors, but it is interesting that for the last two years these "incidentals" go on day after day. There's always incidentals. So I ask you how is that the NY Fed can know where the price of money equilibrates its supply and demand? They know because in so many months they will get data. This is called being behind the eight ball.

Meanwhile the RP free float has increased from a mean $4 billion last year to $7 billion per day. We all know the economy is slowing, but the demand for loanable funds isn't. What counts? Loan demand or interest rates? The two aren't connected, not during a persistent disquilibrium state.

At the end of this rainbow is a market that has gotten very ugly, takes control, and then forces the FED to shut down the FOMC before the currency is undermined. I figure that will result in federal funds at 30%. I wonder if Friedman will be congratulating Greenspan then? It won't matter. It is well known the NY Fed is not under any government entity including the Federal Reserve.
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