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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.67+5.0%Nov 10 4:00 PM EST

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To: Bobby Yellin who wrote (22401)10/31/1998 1:47:00 PM
From: PaulM  Read Replies (3) of 116753
 
Squeezed Middle Class

biz.yahoo.com

Seems to me the same sentiments apply to the U.S.

P.S. About Buffet, it is now well known that LTCM was so leveraged because the connected who ran it had an insider's view of global policy and felt they couldn't lose. Many of LTCM's positions are a bet on higher interest rates. That's a good insiders bet, but was timed very wrong.

Buffet knows rates are going higher and would like to grab those positions for a steal. Greenspan would rather ensure LTCM's positions benefit his Wall Street and bank clients and, as a bonus, use the liquidation of LTCM as a pretext to control markets.
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