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To: Ron Wilkinson who wrote (6694)1/24/1998 11:12:00 PM
From: philv  Respond to of 116763
 
Ron: You may be right regarding the Fed's actions. However, they have earned my grudging respect for the way they have handled things todate, and I would be very cautious, loath to predict their losing control in the near future.

They seem to have limitless power, and have demonstrated it todate. We are living through the most tumultuous economic times since the last world war, and now with the Presidential scandal, the Iraq problem and the continuing Middle East question, one would have expected a flight to economic safety (gold), would long ago have occured. The US public is unconvinced, the US dollar is strong, the markets largely unaffected.

The next couple of weeks will be crucial IMO, and if the economic system can survive the aforementioned unscathed, we must accept the reality before us, a new paradigm. It makes no difference if the POG is controlled or not, such is reality.

Phil



To: Ron Wilkinson who wrote (6694)1/25/1998 2:12:00 PM
From: Little Joe  Respond to of 116763
 
Ron:

I don't understand your point in view of prior post quoting fed governor that m2 is growing over 7%. That sounds like a lot of growth in the currency supply. Also many have posted to this thread that recently the money supply has been rising sharply.

Are these prior posts in error or do you just feel that the Fed shoul be increasing money supply faster.

Live long and prosper,

Little joe


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