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October 25, 2005

Does this not look like reflation, Tues., Oct. 25, 2005, 11:03 AM

One look at the leader board yesterday and today, and I have to seriously ask: does this not look like reflation? Gold is now up +7.60 to $474.60.

I think Greenspan and the NYC bankers arranged all this at their mid-September meeting. I think it was discussed by Greenspan abroad with G-20 central bankers in China, maybe not in specific terms, but in coded messages that the Bond King started picking up on a week ago.

This market is definitely changing character, and lo and behold we get a change of character as Chairman of the Fed.

Posted by Posted by Bill Cara on October 25, 2005 11:04:09 AM | Category: Cara Today in the Market