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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (80114)3/14/2001 12:00:14 PM
From: Sunny Jim  Read Replies (1) of 436258
 
Heinz, thanks for the insights. The one thing that concerns me is that "the interests aligned AGAINST a higher gold price (which would hurt them financially) are much more powerful than the handful of goldbugs left", and those interests certainly include the FED don't they? What's to keep the FED from deciding to sell or lease gold from the US stockpile which is huge? Maybe they already are leasing it, I don't know. It just seems that if we have a derivatives blow-up, which you think we will, and I wholeheartedly agree, the price of gold could start to get out of hand real fast. I gotta believe that the FED would exercise any leverage that they have to bring the price of gold back into line, and due to the size of the US stockpile, this could go on for quite some time. I always ask myself what sort of event could precipitate a calamity - there's lots of candidates and everyone focuses on the intertwined world economies which they should, but lets not forget that Greenspan's health is also one.
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