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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

4:00 PM EST

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To: ahhaha who wrote (34652)	5/29/1999 4:04:00 PM
From: Freedom Fighter	Read Replies (1) of 116767

>>What will it avail you to assert markets are managed?<< The levels/prices of currency, gold, bonds, interest rates, and as a result of indirect connections, stocks and real estate are all influenced by the actions of central bankers. It is presumed that they are trying to reduce extreme price movements; essentially managing the volatility of markets. I am suggesting that in their efforts to maintain short term stability they often make the same mistakes in judgement as market participants and create greater excesses and greater volatility. They are not above the system. What I was also suggesting is that a free market analysis that says a certain outcome is highly probable must be tempered by the fact that central bankers may not see that outcome as desirable and work against it. That does not change the eventual outcome. It can delay it though. Wayne

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