To: John Pitera who wrote (4907 ) 10/18/2001 10:07:53 PM From: Louis V. Lambrecht Respond to John - Uh? Two big MMs closing their activities on gold?news.ino.com Longer term should be for higher precious metals that is what I read:tocquevillefunds.com The American public, having been suckered into pouring its life savings into a dangerously overvalued stock market, is now being called upon to maintain its unhealthy spending patterns to keep the economy from sinking further. The Fed is targeting equity prices in order to prop up the wealth effect, quite an evolution from its original role of preserving the purchasing power of money. In his May 24th, 2001 speech before the Economic Club of New York, Alan Greenspan said: "Owing to the variable and long lags of monetary policy, the effect of our recent policy initiatives will take time to strengthen financial portfolios and spill over into demand for goods and services." The game plan is clear -- reflate the stock market bubble. Money supply (M-2) is growing at 9.2% year over year, the fastest pace since 1987, the year of the October stock market crash. John Hathawaymips1.net sharelynx.net
