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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (908)	1/29/2001 9:19:27 PM
From: FR1	Read Replies (3) \| Respond to of 24758

I am sure you know more about the history of the FED than I do so you can fill me in on something. It doesn't make sense to me that congress at some point told the FED to just go ahead and raise/lower rates anytime they wanted with no approval from congress whatsoever. Someone pointed out to me that congress used to oversee and have to approve any rates changes that the FED wanted to do. They quit doing this because nobody wanted to be sitting on the committee that raised interest rates. If this is true, wouldn't one solution be to make the FED get approval from congress before raising or lowering rates? in other words, just like the Post Office or a utility, the FED would need to plead their case and convince congress before making a move.

To: ahhaha who wrote (908)	1/30/2001 12:57:41 PM
From: David R	Read Replies (1) \| Respond to of 24758

Duh, I did say forgive me for missing the obvious. Over the last year, I have put ~15% of our pitiful portfolio into Gold & silver (mostly gold). My wife thinks that I am crazy. But at least I have one investment that has not lost 1/3 of its value :-) There seems to be a lot of disagreement as to whether we face inflation or deflation. Correct me if I am wrong, but gold is not a good hedge against deflation, cash is. But cash is a lousy hedge against inflation, gold is preferred. What do you think would happen to $260/oz gold in a deflationary cycle? David