On Mon, 8 Jan 2001, Christian Gregory wrote, after allowing that Jude Wanniski might possibly not be crazy:
> I'm perplexed, though, at Jude's insistence that AG can actually do
> something about [the price of gold]
Well he could cause dollar inflation, which, all things being equal, should raise the price of gold in dollars.
Although as far as understand it, what has driven the price of gold below Jude's favored $300 threshold has been the gold futures activity of the mining companies themselves.
Gold bugs have no shame. After crying for decades about how paper money has no value, and that's why we need a link to gold, when we finally get paper money that's been a better store of value, they cry about that. And since when did $350 become the magic price? That used to be exactly what gold bugs moaned about, how the high price of gold showed the terrible truth that our paper money was worthless. Show them them money that holds it value better than gold and their response is that reality must be wrong. Their worldview is imperturbable.
Michael
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com