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September 19, 2005

TSE Gold Index is weak going into FOMC, Mon., Sept. 19, 2005, 3:31 PM

Just as I surmised, smart gold share traders would sell in advance of a FOMC decision that is widely believed to be more tightening. CNBC's Santeli and Pisani (good Italian names) were just saying that Gold is going up because of Greenspan.

Not!

Gold is going higher because governments and individuals are spending like drunken sailors, bringing with it inflation. Katrina hurt, and so will Rita, but we all know that the U.S. economy is much bigger than a couple ladies, no matter how moody they get.

No, Alan is worried about blowing the whistle to slow down the players. He knows how much this would hurt the economy, and the President as well. But sometimes you just do the right thing, and I believe he will.

Here is my ADVFN monitor for the TSE Gold stocks. Aren't you a little surprised to see the mayhem here after you've been listening all day to THs that seldom get it right?

Posted by Posted by Bill Cara on September 19, 2005 03:31:59 PM | Category: Canada , Goldminer Producers