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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.63

-1.4%

Oct 31 5:00 PM EST

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To: PaulM who wrote (4729)	12/24/1997 12:38:00 AM
From: Abner Hosmer	Read Replies (2) of 116741

Thanks for the Bloomberg link, Paul. Have really enjoyed reading your comments, here. Friedman says that Japan can and should print their way out of their troubles, even if it drives interest rates to zero. This seems an odd concept to me, as if to say, "If you are crazy enough to borrow it, we'll be glad to loan it to you for nothing." Or maybe, "Here, take my money, please. I really don't have any plans for it." I wonder what happens to the financial system when paper stops paying interest? Somebody referred to this in Barrons earlier this year as a "liquidity trap." Tom

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