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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.16

-0.1%

Jan 13 4:00 PM EST

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To: goldworldnet who wrote (69064)	5/11/2001 3:05:15 PM
From: Alex	Read Replies (1) of 116856

<<Suddenly, the federal funds rate is lower than the euro-denominated fulcrum interest rate, and the two-year Treasury yields less than the two-year German bund. The Federal Reserve is easing policy in the face of a rising inflation rate. The European Central Bank is holding policy steady in the teeth of a weakening economy. Which is the lesser evil? We say "lesser evil" because we are reluctant to accept any central bank, or any managed currency, as a greater good. To us, long-term success in the management of a paper monetary asset is so improbable as to be effectively impossible. Stamp a chit with the words "legal tender." Balance an immeasurable demand for that currency against a finite, but only approximately measurable, supply. Omit the golden anchor; let the exchange rate float instead. Supply a prudent fiscal policy and a growing economy. It is a tall order. . . .>> grantspub.com

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