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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 73.87-0.1%Jan 9 9:30 AM EST

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To: GVTucker who wrote (61406)9/23/2002 3:06:16 PM
From: larry  Read Replies (2) of 77400
 
GV,

Thanks for your response. There has been lots of discussion about what this really means to JPM in the last 5-6 months. I believe that the consensus is that if the Fed cannot suppress the gold price and the latter rallies significantly above $330, JPM will be in danger of going under. Needless to say, it has big troubles with huge bad loans and other related stuff.

I am not sure how the Fed can both suppress gold prices and avoid deflation. I think that they will fight deflation by artificial inflation. However, that should also boost the gold price significantly.

Any thoughts?

good luck,
larry
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