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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: lorne who wrote (26985)	1/25/1999 11:49:00 AM
From: donald martin	Read Replies (1) of 116764

<<Why can't all the CB brains figure out a way to make use of the value of gold and prevent the collapse of paper currency.>> There is a sensible way for them to do this WITHOUT reverted to a de facto gold standard. And Greenspan has spoken about it in the past. I appreciate the concerns that some thread participants have about CB's being hamstrung by possible irrationalities (bubbles?) in the gold market that might occur merely because so many investors seem hellbent on using momentum methods to invest these days. Gold doesn't need to be the end all indicator that they watch. But, it should at least influence how they manage monetary policy. In other words, all OTHER things being equal, a gold price of $250/oz should see the Fed being more accomodating while a gold price of $500/oz should see them being less so. Doesn't mean they have to "crucify the economy on a cross of gold", just that it's a voice that shouldn't be ignored either.

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