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To: Bill Harmond who wrote (144282)	7/26/2002 12:36:36 AM
From: GST	Read Replies (2) \| Respond to of 164684

Bill: yes, troubling and puzzling. There are several possible interpretations -- all of the them mutually contradictory. I don't know what to make of it. I have not really been a gold conspiracy type, but a lot of money is at stake for those who are short the metal and they can signal their moves by pressuring the stocks before they make a move on the metal (before shorting the metal). I also think that the Federal Reserve can easily control this market if it really wants to, and right now it has reason to want to. It seems to be signaling a powerful attempt to ignite interest in the stock market. But it could also be a strong deflationary signal pointing to a deeper second consumer-led recession that lies ahead. Or it could reflect an emerging market concensus that the economy is going to grow well-enough now to ignite interest in stocks and make gold a less attractive hedge. Whatever it is, it is ugly if you are long gold stocks.