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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Zardoz who wrote (2569)12/12/1998 6:41:00 AM
From: Bill Murphy  Read Replies (3) of 81087
 
Hutch,
After 3 extraordinary,paniced interest rate cuts, the credit spreads are widening again. Auctions are being cancelled left and right. Liquidity is a big issue in the credit community. JP Morgan reports half the profits analysts thought they would and then cannot really explain what happened. They are propping up there balance sheet with credit derivatives.
Brazil, Mexico and Venzezuela are on the brink because of collapsing commodity prices. The dollar is starting to dive as the Mideast and Asians are unloading.
The US saving rate went negative for the second month in a row. Americans are spending and investing in the stock market. If it tanks, the US economy will go south.
Asia is still weak and Russia is about to default again.Spreading defaults will mean fear of paper. That fear will lead to massive gold buying.
That is the way I see it.

Bill
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