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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (59024)7/28/2002 10:12:28 AM
From: Real Man  Read Replies (2) of 94695
 
I think the little blip in the dollar index slide was silent dollar manipulation by the Fed done through jpm selling of gold. They always do it through JPM, it's the leading Fed bank. I'm not sure what gold will do now, as the Fed has been insane for quite a while, and may throw considerable part of 8000 tons on the gold market to kill it. I'm not sure if they are actually interested in it, since it will make their reserves worth less, so a quiet transaction with BOJ or European CB will be best. Won't help the dollar, though, because 8000 tons of gold is nothing compared to US external debt or trade deficit.In other words, we should continue to crash after this Fed dollar manipulation pause. The pause may even end this coming week. The dollar train is just too heavy so stop and reverse, now that the fall is obvious. For any CB. Even for the Fed.
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