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

To: d:oug who wrote (51261)	4/9/2000 9:57:00 PM
From: d:oug	Read Replies (1) \| Respond to of 116836

Heard thru the gatavines, a Caf‚ member standing tall against the ESF. Cloaked in secretly, U.S. Treasury Exchange Stabilization Fund (ESF). All of this commentary are reasons to focus on James Saxton's ESF Transparency and Accountability Act (H.R. 1540) to mandate transparency and accountability from the ESF. The following is a letter written by one of your Caf‚ members to members of Congress to attract further sponsorship of this Bill: [Start.] Dear Senator Hutchison, Senator Gramm, and Congressman Smith, I urge you to support Congressman Jim Saxton's bill, H.R. 1540, to reform the secret slush fund of Bill Clinton and Treasury Secretary Summers (see below). The "separate but equal branches" requirement of the Constitution was included to prevent one branch from exceeding its authority. The secrecy now permitted is an invitation to manipulation by the executive branch. Even more troubling is that "Congress is supposed to control the purse strings", which is clearly not the case with the secret U.S. Treasury Exchange Stabilization Fund (ESF). This country was founded on the underlying principles of capitalism and free markets. Oddly, there was no uproar from Congress when Alan Greenspan, the (private) Federal Reserve chairman said in a statement before Congress that, "central banks stand ready to lend gold in increasing quantities should the price rise." Why doesn't Congress care when Mr. Greenspan clearly states that "central banks stand ready to intervene in a free market?" I am very troubled by the secrecy shrouded manipulations of the Fed in, quite probably, the gold market and, more than likely, in the stock market..... is there a "Plunge Protection Team" consisting of the Fed and the "favored insiders", Goldman Sachs, Merrill Lynch, JP Morgan, etc? The smell coming from Washington, the Fed, and Wall Street is becoming a stench. It is time for honest Senators and Congressman to demand a return to the rule of law, for all citizens, including Bill Clinton, the Treasury, Janet Reno, etc. Reverse America's course toward executive fascism. Congress is a separate and equal branch. Demand that the executive branch ahere to the Constituition and account to Congress for the funds they have. [End.] Doug

To: d:oug who wrote (51261)	4/9/2000 11:06:00 PM
From: Rarebird	Read Replies (1) \| Respond to of 116836

Pragmatism is derived from the Greek word Tpayua ( the first letter should be the letter pie but I don't have a Greek keyboard in front of me), meaning action, from which our words practice and practical come. The pragmatic method strives to interpret each notion by tracing its respectful concrete consequences. People whose orientation is primarily pragmatic will compromise (or in some cases give up completely) their values or principles for the sake of a good or positive result, such as money or sex. In this light, momentum investing and the present US asset bubble is basically pragmatism ( amongst other things) at work. If it works, keep on doing it. That is to say, buying equities produces great long term results so if I'm pragmatic, I will continue to buy equities on every dip. Who cares about fundamentals? That deals with speculative reasoning. What counts is results not theorizing as to what may or may not happen. On the other hand, Gold hasn't worked as a long term investment for 20 years, so if I'm pragmatic, I will stay away from it like the plague. Sounds Superficial? It is. Now you partly know why it is so hard to break this bubble and to get the POG to hold above $300 an ounce. To break the back of the typical pragmatic American Investor, the NDX will have to close below its most recent lows this past Tuesday. As for Giulanni, I thought he might have a shot against Hillary in NY because he is a moderate Republican who is liberal on social issues. But he is no friend of Gold IMO. He is all for the exuberance on Wall Street, along with our Governor, because of the added revenues.