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James Turk: The Fed blinks
4:40p ET Friday, August 17, 2007
Dear Friend of GATA and Gold:
In commentary published this afternoon, GoldMoney's James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, reflects on the turmoil in the financial system and the Federal Reserve's reduction of interest rates this morning.
Turk calls his new essay "The Fed Blinks" and concludes that while gold and silver are testing support, they remain far more reliable than the sort of money whose supply has grown by a third of a trillion dollars in just the last few days.
You can find Turk's new essay in the "Founder's Commentary" box in the third column of the GoldMoney home page here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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