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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Bob Dobbs who wrote (26484)	1/20/1999 1:41:00 AM
From: Bonnie Bear	Read Replies (2) of 116762

Bob: oh a thousand thanks for this post....Fox news leaked rumor that the feds were having difficulty paying their installment payment on the national debt...and I couldn't make sense of the numbers without the off-balance-sheet stuff..but judging from the amount of mortgage debt created I kinda thought it was a big number. For the last twenty-five years the dow times 1B = national debt, which would put fair value for the dow at 6000. So it's an interesting proxy to see how huge they have to inflate the market or drop interest rates. Interesting to note that Fannie Mae and the agencies can buy and create interest-rate derivatives ad nausem and can also contribute to commodities and nasdaq derivatives via the ubiquitous "consumer bankruptcy futures" that take the market behaviour of the indexes into account. Thanks for the missing link.

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