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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 368.29

+0.6%

Nov 7 4:00 PM EST

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From: gold$10k	9/20/2007 4:56:08 PM
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Looking very far ahead by looking back... Paul Volcker became FED chairman in August of 1979, but the top in gold did not come until 6 months later. Does anyone know on what dates he raised the FED Funds Rate and by how much? en.wikipedia.org According to Paul McCulley, "in October 1979, the Fed announced that it would henceforth follow the “monetarist” doctrine of rigidly controlling the quantity of money", but that was still 3 months before the top in gold. Interestingly, "the game changed in August 1982, when the usuriously-high Fed funds rate of the “monetarist” charade ended. Mexico went broke and Volcker did what he had always had the power to do: in a series of quick steps, he slashed the Fed funds rate by over 1000 basis points" which apparently signalled the beginning of the bull market that lasted until 2000. pimco.com

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