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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: bobby beara who wrote (11932)	5/20/1998 5:19:00 AM
From: Crimson Ghost	Read Replies (1) of 116832

Bobby: I think you greatly overstate the case for deflation. CRB indeed heading south, but commodities just a modest portion of the CPI. Money supply is growing very rapidly in he US and most other nations. Unemployment rate at near record lows. Service inflation -- a far bigger chunk of the CPI than commodities -- is accelerating. Greenspan is scared to death of what will happen if people start spending some of their big stock market profits. Bottom line -- commodity deflation accelerating because of the Asian crisis and the strong dollar. But the overall inflation rate is headed higher. Good for gold.

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