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

To: Alex who wrote (40206)	9/11/1999 5:34:00 PM
From: PaulM	Respond to of 116762

An Explanation of COMEX/NYMEX Gold Trading futurestrading.com

To: Alex who wrote (40206)	9/11/1999 5:56:00 PM
From: PaulM	Respond to of 116762

Federal Reserve Votes to Expand Acceptable Collateral for Repos iht.com This "technical" change seems pretty important. To translate: on the pretext of Y2k, not only will the Fed be monetizing Treasury debt, but the government's junk mortgage portfolio as well. Here's my take on this and on the recently publicized widening credit spreads: the mortgage and general credit market is relatively free one, while the market for treasuries is effectivley manipulated one (the Fed provides significant demand, especially as of late). So unlike last fall, the "widening" spreads really just mean that interest rates have gone up everywhere, with Treasuries lagging only because of Fed demand. This "widening" of cedit spreads is analogous to the "spreads" we are likely to see between manipulated paper gold (COMEX NYMEX) market, on the one hand, and the real physical gold market on the other. Also analogous to the high-profle DOW and NASDAQ 100 on the one hand, and the general stock market, which has been lagging for some time, on the other. In other words, these are no longer markets, they are advertisements. (The recent injections of broader liquidity were aimed at ameliorating these obvious divergences).