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Gold/Mining/Energy : Gold Price Monitor

GDXJ 127.15

+0.4%

Jan 15 4:00 PM EST

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To: Gary H who wrote (28475)	2/17/1999 11:13:00 AM
From: donald martin	Read Replies (1) of 116857

I can't give you quotes like those you've posted to support my position, but i don't really think Greenspan is the enemy to gold everyone thinks. What he REALLY seems to dislike is speculation. You certainly can't gripe about his performance if your yardstick for measuring a central banker is inflation. And, when you think about what a central banker is supposed to do if he's trying to preserve monetary discipline without having a carved in stone gold standard...how far off is he from doing this when he says he'll lease gold if the price of it goes up? The only problem I see with his doing this is the potential political costs. I can't see how the Fed leases gold without interest rates on paper moving higher. Further, how much ammo do you really think he'd be willing to expend to try to extinguish a nice gold rally?

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