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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.56

+6.1%

4:00 PM EST

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To: long-gone who wrote (30646)	3/25/1999 2:26:00 PM
From: Hawkmoon	Read Replies (2) of 116972

& Y2k through extra reserves which would be short term inflationary. I believe it would be intermediate to long-term inflationary. But more than that, Fed Governor Gramley's comment indicates that they will do whatever it takes to boost the banking sectors liquidity in anticipation of depositor withdrawals of "mattress money". Personally, I would advocate that they sell gold and add liquidity to the gold sector so people would be more inclined to convert dollars to gold than to cash. They is only a limited quantity of cash in the systems and there is far more gold. I would rather the Fed not tanks the price of gold, but help to stabilize and increased demand by making physical gold reserves available. And after Y2K, the Fed could then buy this gold back from depositors who choose to reconvert to dollar denominated assets. Regards, Ron

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