To: long-gone who wrote (21716 ) 10/17/1998 1:13:00 PM From: long-gone Read Replies (1) | Respond to of 116764
Open Letter of apology to Allen Greenspan, I was wrong. I acted and wrote in anger when I wrote about the brown stuff on your nose. This was unprofessional. The recent actions of the Federal Reserve to lower rates was, in fact, required to maintain the economy of our nation and the world. The recent affairs between hedge funds, major brokerage houses, major banks and our Federal Reserve system do (on the surface) appear to be in the best interest of the brokers and bankers, without regard to the common man or the mining investors, mining companies, and miners whom were injured by the leveraged investments of these factions! Dr. Greenspan, I remind you that the Federal Reserve is the controller of our economy and the currency. The strength of our economy does not flow down from the banks and brokerage houses to the people. This strength rather, flows up from the producers of goods and services through these investment houses back into the economy to perpetuate growth. The brokering of any agreement which would allow years for these investment concerns years to unwind their positions could cause yet more bankruptcies of commodities producers while permitting those who have profited from these (at the very least) immoral actions continued profit. Please immediately correct the situation, and bring about any actions which will return the price of gold to the $360 range. This alone will begin to correct prior market manipulations. In addition I suggest the margin requirement be raised(slightly - 10%?) for all investment firms doing business in the US so as to prevent reoccurrences. When balance is destroyed it must be returned. Sincerely Richard Harmon