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To: Zardoz who wrote (35521)	6/18/1999 7:28:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116822

Spin? Top World News Fri, 18 Jun 1999, 7:16am EDT London Metal Exchange Defaced as Protesters Fill City's Financial District By Andy Webb-Vidal and Michael Bleby LME Attacked as Protesters Fill City of London (Update1) (Adds more details of protest from 4th paragraph.) London, June 18 (Bloomberg) -- The London Metal Exchange, the world's largest metals bourse, was attacked with red paint by protesters during a demonstration against capitalism in the City financial district. ''There are splashes of red paint on the front door but business will be as normal today,'' said Jonathan Haslam, the LME's Director of Corporate Affairs. ''There are a number of contingency measures in place but we can't go into details.'' LME floor traders, who normally begin open outcry dealing at 11:40 a.m., were ordered to arrive early in the morning and will be locked inside the building for the whole day, brokers said. In other protests, police cordoned off Liverpool Street at Broadgate -- home to many brokers and banks -- after as many as 500 people demonstrated outside McDonald's Corp.'s restaurant close to the main railway station. ''McDonald's is a symbol of the beat of capitalism,'' a member of London Greenpeace said before the protests. The group is unconnected to the environmental pressure group Greenpeace. Police said the road was closed to avoid traffic chaos. Earlier, protesters wearing hoods chained two cars together to block the southern approach to London Bridge. They parked two cars next to each other, blocking two of the road's three lanes, broke a window on each car, then locked the cars together using a D-shaped bicycle lock. The drivers then fled. Some demonstrators broke into a vacant building on Old Broad Street belonging to National Westminster Bank Plc ''but the landlord isn't concerned so we're going to leave them there,'' the police spokesman said. Gas Masks As many as 20 protesters had gathered outside a Lloyds TSB Group Plc bank branch in Cheapside, the police spokesman said. A further 20 people dressed in white protective suits and wearing gas masks, were distributing leaflets outside the Bank of England, the spokesman said. In a counter-demonstration, City workers threw photocopies of 50 pound ($80) notes out of their office windows in Cannon Street, reports said. Protests were planned in 100 cities around the world, the Reclaim The Streets spokesman said before the event. In Sydney, police guarded the head office of Australia's largest uranium producer, North Ltd.'s 68-percent owned Energy Resources of Australia Ltd., Australian Associated Press reported. Protesters, encouraged to disguise themselves as office workers, tourists and cycle couriers in order to fool City of London security staff and police, are taking part in a day of demonstrations aimed at disrupting London's financial center. The day of demonstrations was named J-18, as it coincides with the start of the G-8 summit by the Group of Eight nations of leading industrialized countries plus Russia in Cologne. A spokesman for one of the groups taking part, Reclaim The Streets, said his group planned peaceful demonstrations against capitalism, though he couldn't speak for the others. As many as 10,000 people would take part, he said. Casual Clothes Businesses in the City aren't taking any risks. Many instructed staff to wear casual clothes to avoid being targeted by protesters. Chase Manhattan Bank staff at London Wall have been advised to stay indoors during the day. Police said there were no serious disruptions to traffic. ''The traffic is flowing. We've got about 150 cyclists trundling about the City, and it's normal weekday traffic,'' said City of London police spokesman. London Transport, which manages the London Underground subway system and bus services in the capital, reported no disruptions to traffic so far. quote.bloomberg.com

To: Zardoz who wrote (35521)	6/18/1999 5:15:00 PM
From: goldsnow	Respond to of 116822

It was also seen as a demonstration of co-operation between Japan and the 11-nation euro zone with the Bundesbank, the Bank of France, and the Bank of Italy all reported to have acted as conduits for sales of yen. These are the central banks of the three countries which are in both the euro zone and the G7. While the United States was notable by its absence, analysts said the choice of euro/yen as a vehicle for Japanese intervention was likely to have found favour with euro zone politicians who did not have to use their own reserves to engineer a rise in their flagging currency. biz.yahoo.com

To: Zardoz who wrote (35521)	6/19/1999 11:44:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116822

OK Hutch, let's look at this thing, The recent few day market "rally" was fueled by Iowa putting retirement money (for the first time) into the market, and the prior "oversold" condition. The broad market has again reversed and is nearing an "overbought" condition. (five day advance decline) Specialists and members are short. Mutual fund cash levels are STILL very low, so there will be a limit to new buying(lack of new fuel) and a down bias. Right? cairns.net.au I've given up even looking at S&P P/E and dividend, as overall market direction indicators, ONLY because they have not enjoyed any indicator status for a very long time. OK, we have low flow of new funds, lower future M-2 (Greenspan told us so - maybe). Lower overall market? Money supply growth seems to flowing only into the M-1 cash part and many banks are reporting a lower overall deposit rate. People are keeping & spending cash. I'm seeing it in the grocery stores and gas stations. Big rolls of cash again! The action at the local casinos is, by most any measure, simply excessive. The many reports and government's worries about gambling addiction. Las Vegas NV room fill rates doing very well, as are most state lotterys. Word from gambling places in state of LA is they're also busy. These are also signs of heavy M-1. OK, now did you see Kudlow and Wolman speak on CNBC this week? They are both worried about the attitude of Greenspan's thinking that he can read everything and tweek and touch everything and hold it all perfectly in place with very quickly expanding & contracting credit. They BOTH say(and many others are chiming in) that Greenspan & this Fed are getting cocky & falling "out of touch", as if they ever were. The broad market is in trouble. Many of the nations top economists are scared s...less! Gold has been declared dead for the entire future, Every last indicator is coming up "funny" to scarry. We are entering the historic run season for gold. Cash supply going nuts. Add in a little Y2k fear. For the first time in years Natural gas upgraded(???? my gosh how long has it been????) the bulls are again making their calls. Last cheap runs being made at some miners. I even sold some of a miner(though I bought less of others), and there are indicators another producer is in TROUBLE! The Fed's not sure about gold as an indicator because of the manipulation argument. It's time. Here we go?