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

To: Alex who wrote (34266)	5/20/1999 4:28:00 PM
From: long-gone	Read Replies (3) \| Respond to of 116764

heard a recent Paul Volker quote(via another) for which I can find no internet source: "The economy of the world is being supported by the US economy which is being supported by stock price growth in 50-75 companies, 1/2 of which have little or no earnings".

To: Alex who wrote (34266)	5/20/1999 8:09:00 PM
From: PaulM	Respond to of 116764

"what they do as opposed to what they say" I never expected the U.S. to sell, except in a clear emergency. As the dollar is the world's reserve currency, selling from the U.S. would send a very different signal than exchange of gold for dollars by other entities. More importantly--and there seems to be very little realization of this--the CB's want inflation now. That has always meant a devaluation of currencies against gold. Again, though the price doesn't reflect it, a twenty year cycle is ending.