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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.76

-6.4%

4:00 PM EST

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To: Terry Rose who wrote (12161)	5/25/1998 11:34:00 PM
From: philv	Read Replies (4) of 116834

Terry: S. Korea down almost 6%. Asia still a question mark. I read an article suggesting the Feds will decrease interest rates due to the softening economy. I know there is inflation out there, especially in assets, but am not yet convinced of its prevalence, as a market crash would wipe out this inflation instantly. This is what may be causing Greenspan to walk the tightrope? However, as time goes on, in the absence of any market correction, asset inflation will spill over into other aspects, as people begin to cash in. So, it will be interesting to see which way the teeter totters. An interest rate hike won't do the terrific trade imbalance any good either. Japan and the rest of Asia need a high $US so they can export their way back to prosperity. And they need a prosperous US economy. Greenspan is walking a tightrope and juggling many balls at the same time! Phil

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