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

To: long-gone who wrote (65716)	3/14/2001 2:08:39 PM
From: ahhaha	Read Replies (1) \| Respond to of 116836

When FED practices money targeting the result is excess reserves. This condition obviates the need for the discount rate. Why borrow from your local fed reserve bank when you can go into the overnight and pick all you want at a lower rate when those funds don't have the government strings attached? Both discount rate and reserve requirement have been rendered useless in the current era's obsession with a fixed market in money. We'll see how long the FED tries to protest what the free market will surely end up doing to its targeting control. You won't read that in Encarta. If you want to know how things work, you have to come to this.