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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.02

+0.7%

Jan 8 4:00 PM EST

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To: Enigma who wrote (25778)	1/10/1999 11:42:00 AM
From: John Hunt	Read Replies (2) of 116844

Re Increase in Rates? Hi E, I think that AG must be very worried about his inability to control things. He tried to talk the market down a couple of years ago, which didn't work. He lowered interest rates 3/4%, which are now climbing back towards where they were when he lowered them. bloomberg.com He increased money supply to very high levels without any apparent benefits to the economies of Asia, Russia or South America. He lowered the lease rates for gold, but its price is going up anyway. The introduction of the euro seems to have started a fierce competition between the US, Europe and Japanese governments re exchange rates. At a minimum, this lessens AG's control. The unpredictable nature of the Y2K problem which is out of his control. IMHO, he will raise margin requirements accross the board next and keep interest rate increases in reserve to defend a falling US$ if necessary. BWDIK. John

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