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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (23978)	12/20/2002 3:57:35 PM
From: Northern Marlin	Respond to of 36161

I don't believe there are details yet available to the public. We do know that the Fed is inflating the money supply, which will likely result in the U.S. dollar devaluing in relation to other currencies and gold. Now we have Greenspan speaking of gold and money in his opening remarks to the Economic Club of New York. I've excerpted this from Sinclair's opinion of Greenspan's speech: This time the Gold Cover Clause will function as a control over the creation of fiat currency as a ratio to money supply in a free market for gold and valuation of US Treasury gold at market. I will explain to you during Christmas how this will effect gold trading in a firm range, in my opinion, at higher levels than we have so far experienced. I believe the price of gold is headed higher without significant interruption. I firmly believe that gold is headed back into the monetary system in a control mechanism with an adjustable market mechanism. Gold could easily be trading between $450 and $550 in 2003. financialsense.com I still don't have a clear picture of what the above means, or what Greenspan was saying, for that matter. That's why I'm looking for comments from members of this thread. There are a lot of sharp minds congregating here. Phil