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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.67

-2.7%

4:00 PM EST

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To: Rarebird who wrote (63276)	2/3/2001 9:49:05 PM
From: Zardoz	Read Replies (2) of 116756

You know how to think but you know little about Faith. Faith is a person standing at a high cliff and believe he can walk off, and not be hurt. Yet reality still proves him wrong. Their Faith is no different than many market participants who firmly believe that Greenspan's pumping and radical easing will stimulate growth again in spite of massive debt and an American Public which has very little cash flow to invest in these markets and push prices much higher. That's not faith, that's speculation. Everyone who buys a stock, buys under the conjecture that a stock shall; under the correct market conditions; climb. Applying the same ideology to gold, suggest that gold does deserve what has happen to its price. Debt and debt related issues are second to the price of a commodity; ands as such don't determine the value of such debt. Nor does the price of a commodity determine the market as a whole. Euro & Japan may not be in such dire straits as you say... Nor does the US Dollar Index reflect economic strength and weaknesses. The US dollar and its components are but a transient tale of what the US economy is going through. But without looking at M2, M3 and the remaining monetary components: one cannot for see the future. Yet currency stabilization is but a factor the US Fed uses {as does Japan} to offset inflation growth. And this is done by tight control of M2. In deed one can directly compare growth of M2 to DJIA/NASDAQ. So with that said, it is likely the FED will NOT reinflate. Hutch

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