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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

Nov 26 4:00 PM EST

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To: Terry Rose who wrote (16766)	8/27/1998 10:37:00 PM
From: Gabriela Neri	Read Replies (2) of 116768

Fed has raised rates by keeping fed funds rate unchanged as inflation rate has decreased. Now, expect to hear some calming, soothing words from our beloved big bad Bob Rubin, the mastermind of the America Strong Dollar Policy. This policy has failed, and the consequences are just on the verge of the beginning to be felt. We are in fear mode and rationality will be thrown out the window going down, just as it was going up(in the equity markets). The irrationality is now full throttle ahead in the bond market because the irony is that, even if the fed decides to lower rates(unlikely unless a crash occurs(which may not be unlikely)), alowering of rates will be bearish for the long end of the market. It should be bullish for gold, big time. If the dollar really tanks and the fed lowers rates, we will see very clearly where the inflation bogeyman has been hiding. And I for one will welcome him back with a smile and a smirk.

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