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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (239185)5/6/2003 3:41:13 PM
From: orkrious  Read Replies (1) of 436258
 
from cramer's rag

Mike Norman

Dollar done in by A.G.
5/06/03 03:06 PM ET

The Fed's comments this afternoon were not only hypocritical in light of Greenspan's recent testimony before Congress (where he expressed optimism for the prospect of economic rebound), but they show a frightening breakdown in U.S. central bank leadership.
Expect to see this expressed emphatically--perhaps even violently--in global bond and currency markets.

You simply cannot go in front of Congress as Fed Chairman, scuttle the prospect of tax cuts and stimulus on the basis of impending economic rebound, then issue official policy statements that voice concern over economic conditions.

The Fed, under Greenspan, is currently clueless and trying to play both sides of the market at the same time. The dollar will now really get crushed. (I am covering my euro and bond shorts, and going long gold.)

With Greenspan at the helm of this economy, we could be in for big trouble.

Covering euro, bond shorts. Buying gold.
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