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Gold/Mining/Energy : Gold Price Monitor
GDXJ 117.61+3.0%Dec 19 4:00 PM EST
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To: long-gone who wrote (65705)3/14/2001 1:12:33 PM
From: ahhaha  Read Replies (2) of 116815
 
Greenspan recently said that money supply doesn't matter. This has been the growing consensus at the FED since 1990. The result has been that the whole for them is the manipulation of interest rates, in particular, the fixing of them, at the expense of a money supply that grows without bound. Greenspan's erroneous conclusion has reduced the policy flexibility of the FED. It is ironic that in 1999 Friedman said the FED was doing a good job after spending 40 years of his life proving beyond a shadow of a doubt that money does matter.
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