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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (94895)	3/10/2002 11:46:35 AM
From: Joan Osland Graffius	Read Replies (2) of 132070

KT, >>Deflation is more dangerous than reflation, so gold below a certain price, and I doubt it is as high as $290, would indicate deflation. Yes, deflation seems to be difficult for our capital systems to manage. Deflation seems to be a corrective process that may be necessary at certain points in time, and it is painful. Ok, that being said - if we have deflation wouldn't we expect to see the US dollar deflate and gold rise in price relative to the currency. This is the point that is bothering me trying to figure out what Forbes meant by gold trading at a price lower than $290 or what ever. I would think in true all out deflation cash invested in some AAA rated instruments that generate interest should be king. Maybe Forbes thinks the US controls the price of gold and the rest of the world will not buy it if we are not buying it here. <g> Joan

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