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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: Crimson Ghost who wrote (60082)	10/24/2000 1:22:30 PM
From: Alex	Read Replies (1) of 116756

<<"Gold was such an anchor or rule, prior to World War I, but it was first compromised and eventually abandoned because it restrained the type of discretionary monetary and fiscal policies that modern democracies appear to value." Alan Greenspan, 05 September 1997. He made this comment while he was in the process of describing the shifting modus operandi of the Federal Open Market Committee (FOMC) in 1997, which was increasingly to become discretionary in its policy deliberations - meaning that they tossed out the rules and that the balance of risks in policy making immediately shifted toward inflation. In effect, what he was telling us was that "Economic Freedom"1 was simply not possible within modern democracy (otherwise known as the new economy if he were speaking today). It was that epiphany, which may have been partly responsible for the ensuing crisis of confidence in gold prices, and has bestowed upon our central bank the task of eternal economic vigilance.>> more........ safehaven.ca

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