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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (37067)	7/12/1999 11:34:00 PM
From: Hawkmoon	Respond to of 116957

Greenspam said that if the POG rose enough to threaten the economy he would intervene to encourage more leasing. What he meant was that if the POG went above $1,000 per ounce and it was causing foreign governments to shun the U.S. Dollar, thus causing it to plunge to multi-year lows, then he would act. Whoa!!! Where did you pull that $1,000/ounce figure from?? I don't believe 'ol Al put ANY kind of of dollar figure on the price of gold as the point where it would threaten the dollar and trigger more Fed leasing. I was thinking more along the lines of $300-350/ounce as the threat point considering the amount of liquidity the Fed has had to pour into the system in order to sustain the other economies of the world. Regards, Ron