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Gold/Mining/Energy : Gold Price Monitor
GDXJ 124.09-13.6%Jan 30 4:00 PM EST
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To: marek_wojna who wrote (72204)6/22/2001 1:07:34 PM
From: Crimson Ghost  Read Replies (1) of 116955
 
This strong versus weak dollar discussion may be missing the point. Exactly what does the strong dollar policy consist of? Apparently nothing more than saying we are in favor of a strong dollar or at least denying we favor a weak buck. Certainly plunging short rates, a huge balance of payments deficit, and a leveraged economy headed for a recession are not the kind of things normally associated with a strong dollar. But all the US has to do is say it wants a strong dollar and like magic it is so -- at least for now.

Heaven help the dollar bulls when this "magic" no longer works.
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