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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: Abner Hosmer who started this subject	2/21/2001 9:54:30 AM
From: russwinter	Read Replies (3) of 116846

Panic printing Something to chew on as you wait for breakfast...M2 & 3 up thirty billion dollars. I think these numbers speak for themselves...from the Fed's latest report on money supply. Figures are expressed as $-billions M1 = 1,104.8 . . . down 1.5 M2 = 5,029.6 . . . up 29.3 M3 = 7,232.7 . . . up 35.3 ---------------------------------------- With that backdrop, and also with the knowledge that the federal funds market was trading precisely at the FOMC's target rate, take a look at what the Fed's System Account Manager has been up to this morning.... First, there was an add of $2.0 billion to the banking system's reserves via 27-day repurchase agreements. This was followed by a $6.505 billion polishing add via two-day RPs. But no, it didn't stop there. The Fed decided a coupon pass was also in order, permanently adding another $1.446 billion to banking reserves through the outright purchase of U.S. Treasury securities (dated April 2001 to August 2001).

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