To: Ms. X who wrote (2289 ) 4/8/1998 10:31:00 PM From: papi riqui Read Replies (2) | Respond to
Jan,For those who have been paying attention, you know these are the first two indicators to reverse. The optional bullish percent also weakened this week and this is a big sign. A reversal here has always (save one time) precluded the reversal of the NYSE bullish percent. >most interesting thing he said had to do with precious metals, especially gold. I did not get all the details, but the gist of what he said was that a group of European (central bankers?) were meeting w/ Greenspan in Washington in 8 days (April 16) to discuss whether to return to the Bretton Woods agreement, i>e>, the GOLD STANDARD, and that the Italians are already talking about backing the EURO with 30% gold. Tom said that you won't read much about this in the press (very hush hush), but to look out for it. Said that if any of this were to happen, then of course gold would go thru the roof. Personally, I don't see the US reverting to the gold standard, but with the EURO anything is possible! This bears watching and could explain the recent strength in gold.
