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

To: Rarebird who wrote (46190)	12/22/1999 1:52:00 AM
From: Terry Swift	Read Replies (2) \| Respond to of 116837

RB: Wow, has this guy ever changed his tune since leaving the Fed and getting a plum spot with Bear Stearns. I have listened to Wayne Angell for years and he used to be the most consistent inflation hawk you could find. He and Paul Volcker were the two most anti-inflation zealots that the Fed has ever had. Now that he's with Bear Stearns he's singing a different tune. He knows very well that the current levitation act by the DOW, NASDAQ, and S&P is the biggest asset bubble in history, and that its been created by the most sustained money printing, credit creation, consumer binging behavior in history... but is he urging AG to tighten or warning of the inevitable consequences when the bubble pops? Noooooooo way. Instead, target gold; thereby keeping the illusion alive that inflation is not a threat so the Fed won't take away the punchbowl which would cause this internet mania to come crashing down around their ears and take Wall Street and main street with it. Volcker is right on with the statement he made a few months ago; to paraphrase him, 'This market is being held up by about 50 stocks, half of which have never had any earnings'. Wayne Angell now wants to keep the shell game going, probably just long enough for him to make a few more million and then retire.