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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.61

+3.0%

Dec 19 4:00 PM EST

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To: Bobby Yellin who wrote (16211)	8/20/1998 10:37:00 AM
From: John Mansfield	Read Replies (1) of 116815

OT - 'Hardly a voice of confidence' _____ From: "Joseph E. McIsaac" <jem@marketpartners.com> 16:11 Subject: Re: Fed Official on BBC I think that the Fed will issue new currency, then pull it back when it turns out that it is no longer necessary in circulation. Rob O'Neal wrote: > Tonight I was listening to the BBC broadcast on NPR and they had a Clyde > Farnsworth, a Fed Reserve official in charge of "payments". He stated that > they Fed will be stockpiling an additional $50 billion in currency in > anticipation of Y2K related withdrawals. > > Now this figures to about $200 a person. Not a huge amount of money in the > big scheme of things. Clyde said this would be used for "small purchases" > for a week or so, while the "bugs are worked out of the system". > > When the reporter pressed him on the subject of whether or not the move > would be interpreted as the Fed's admission that there would be problems, > Clyde stumbled back into the party line about how they have every reason to > be confident the banking system will function. He did so very haltingly > and he measured every word. Hardly a voice of confidence. > > Rob ______ From comp.software.year-2000

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