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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (18187)	9/9/1998 8:49:00 AM
From: Dwight Taylor	Read Replies (1) \| Respond to of 116896

Given the stress of the American investor over a potentially damaging Starr report, and talk of resignation or impeachment Greenspan is coming under more scrutiny simply by opening his mouth. His comments last Friday had no mention of a rate cut, merely a musing of the sort, yet the market rallies for a huge gain. The wild gyrations of selling and buying is sort of manic depressive in it's wildness and obviously unsure of where it wants to go. Greenspan, on Sept. 29th, will not lower rates. He is justified in keeping the equities to climb or fall on their own devices. If he lowers rates, there may be an unsustainable rally and a much bigger calamity on the backside. I believe he has to slow down the raging bull gently, so as to not get the bears in a tizzy. Realistically, the pressure on him is so great he is like a human pressure relief valve. He will sit tight until the pressure cooker of existing rates is breathing down his neck. Then, he will ease, caress, soothe this market out of irrational exuberance and into calmer waters. The question of the direction of gold is another matter. What is the rumor of Greenspan and his reported comments that gold is no longer significant as it relates to investors safety net? Is there any truth to this?