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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4458)	6/11/1999 5:06:00 PM
From: Cynic 2005	Respond to of 12475

Mohan, I am impressed with Indian intelligence. It looks like they were able to record the conversation of the Pak foreign minister with their Army chief. hinduonline.com ----------------------- Tapes show Pak. role By Our Special Correspondent NEW DELHI, JUNE 11. India today provided incontrovertible evidence of Pakistan's involvement in the Kargil sector and raised serious doubts about the success of the Pakistani Foreign Minister, Mr. Sartaj Aziz's mission to New Delhi tomorrow. Addressing a press conference, the External Affairs Minister, Mr. Jaswant Singh, said he was ''outraged'' by the torture and killing of the six Indian soldiers, whose bodies had been handed over two days ago. ''When I sit down for talks with my Pakistani counterpart, two issues will be raised. The first is the barbarity inflicted upon Indian soldiers and the restoration of the status quo ante at the Line of Control,'' he said. The press conference saw the Foreign Office providing concrete evidence about the ''involvement and complicity'' of the Pakistani establishment in the intrusion. Tapes of a conversation between the Pakistani Chief of General Staff, Lt. General Mohammad Aziz, and the Pakistani Army Chief, General Pervez Musharraf, on May 26 and May 29 were played back to reveal the Pakistani game plan . The transcripts of the tapes, which were released to the media, indicate that the Mr. Aziz was carrying a very thin brief and his talks in New Delhi were likely to be a non-starter. The military, the tapes show, has advised him to ''make no commitment in the first meeting on the military situation. And he should not even accept ceasefire, (for) then vehicles will be moving (on the Dras-Kargil highway).'' The decision to sow confusion about the alignment of the Line of Control was taken at the highest level in the Pakistani Army and that India's MI-17 helicopter came down on the Indian side of the LoC. The conversation of May 26 shows that the Pakistani Army and not the Mujahideen was calling the shots in the military operations across the Indian side of the LoC. Besides, there was considerable concern in Islamabad that the current round of engagement should not escalate into a war. In fact, to allay fears within the Pakistani establishment that the engagement with India might lead to a full scale war, the Pakistani military brass has been arguing that escalation could be regulated through the Mujahideen over whom it exercises complete control. ''We gave the suggestion there was no such fear (of full scale war) as the scruff of their (militants) neck is in our hands, whenever you want, we could regulate it,'' Lt. Gen. Aziz told Gen. Musharraf. According to Mr. Jaswant Singh, the disclosures placed before the rest of the world were meant to ''pre-empt any designs that Pakistan may be nurturing about obscuring the central issue of their involvement, complicity and continued support to an armed intrusion and aggression in which Pakistani regular troops are participating; to defeat in advance the Pakistani aim of dangerously reopening the sensitive and settled issue of the Line of Control.'' A visibly moved Mr. Singh said amid pin drop silence that the six bodies handed over by Pakistani soldiers to a unit of the Gharwal Rifles near Kargil showed that the troops had been tortured and murdered in cold blood. The post-mortem examinations, sections of which he read out, were conducted in the presence of representatives of the Red Cross and the head of the department of forensic medicine in Safdarjung hospital in Delhi. All the soldiers were repeatedly subjected to torture. One of the soldiers was shot in the mouth. An eye of another was penetrated by a blunt object before he received a fatal gunshot wound. Yet another died after receiving multiple wounds at the back of the trunk. Loss of brain tissue was the cause of death of another. The body also bore compound fractures. ''The entire nation is outraged by the savage torture of soldiers taken into custody. The Government shares that outrage with the nation,'' Mr. Singh said. ''What we have witnessed is not just a breach of international norms. It is a civilisational crime against all humanity. We demand the identification of the perpetrators and resolve to bring them to justice''. He was ''not impressed'' by denials from Pakistan about the involvement of its troops in the killings. To a question, Mr. Singh said he felt that ''I have been personally violated. The dignity of every soldier of the Republic is supreme.'' Despite all the provocations, India's long-term commitment to restoring peace with Pakistan remained undiluted, Mr. Singh asserted. ''Notwithstanding all that is in our possession, notwithstanding the barbarity. ... reason and dialogue must continue. Peace must prevail. Every aberration from the path of peace must be defeated.'' India and Pakistan could still have a meeting ground in case Islamabad decided to vacate its aggression. ''We hope that even at this stage, sense will prevail and Pakistan will pull back from its misadventure. The meeting point will come if Pakistan realises the folly of its misadventure.'' Mr. Singh added that Islamabad' military aims had been defeated and its ''international campaign had run into a cul de sac.'' Islamabad should ''recognise its folly and restore the status quo ante. The ''inviolability'' of the Line of Control, he added, could never be a subject for negotiations. He said the LoC could not be defined as a ''border.''

To: Mohan Marette who wrote (4458)	6/11/1999 5:10:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 12475

Here is more: the-hindu.com ----------- India produces evidence of Pak. involvement New Delhi, June 11 (UNI): India today came out with irrefutable evidence of Pakistan's direct involvement in the Kargil intrusion and is in possession of verbatim tape-recordings of conversations between its army chief on a visit to Beijing and another general back home. External Affairs Minister Jaswant Singh today released to the press transcripts of the conversations between Pakistan army chief Gen Parvez Musharraf, who was in China, and chief of general staff Lt Gen Mohammed Aziz in Pakistan on May 26 and 29. ''These two tapes and the transcripts have been authenticated through voice authentication and printing,'' the Minister said. The conversations ranged over a wide variety of issues related to the conflict--from downing of the MI-17 helicopter on May 28 to the visit of Pakistan Foreign Minister Sartaj Aziz here tomorrow, internationalising the Kashmir issue further and raking up the Line of Control issue. Prev Story: Pak. rejects India's charge on mutilation

To: Mohan Marette who wrote (4458)	6/11/1999 5:36:00 PM
From: Lee	Read Replies (1) \| Respond to of 12475

Hey Mo,..Re:.rates Mohan, it's beginning to look more likely for a rate hike on the 29th or 30th. POLL-Fed's 25-bps June funds rate hike widely seen biz.yahoo.com Strong domestic demand, as confirmed early on Friday by news of a 1.0-percent jump in May retail sales, was the main factor cited by economists who anticipate higher U.S. rates. Also, Larry Kudlow on CNBC just said he didn't think we'd get a rate hike because the spreads are widening out again and a rate hike would just make the illiquidity worse? Like last Sept./Oct. Didn't catch all his comments though, he might have had other reasons as well. Couldn't find a table with the spreads listed (and don't remember how wide they got last fall) but did find this. US CORP BONDS-Pressured by supply,rates;eye on CPI biz.yahoo.com Spreads to U.S. Treasuries ended one to two basis points wider across the board with bank and finance sector paper experiencing the bulk of the widening this week, traders said. So what do you think now? Or are we going to wait until after Wednesday's report and then give the odds?<g> Also, on the rumors flying about the hedge fund, how many more big investment houses are left that the Fed can strong-arm into accepting more liabilities if the rumors turn out to be true? Presumably they had to provide a longer time frame for some of LCTM's positions which means I guess they just rolled them further out. So some may still be open? Cheers, Lee