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The money price of gold is therefore a measure of contractual performance by the Fed and Treasury. The wealth represented by stocks is highly visible; Americans receive their 401(k) account statements monthly, and they can check particular stock prices in real time if they so choose. I appreciate the presentation and the thought that went into it. Jeff Weiss, the head of financial services banking, was not at the dinner, nor was Gerald Donini, but both were patched in for the key discussions on speakerphone.
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