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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: PaperChase who wrote (64647)	7/15/1999 9:07:00 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

PC: Greenie has run out of gas. No more rate reductions to save the markets this next time. He has a problem. For the first time in several decades, the good old U.S. can no longer sell treasuries, in fact the problem is that other countries are selling those treasuries back to Uncle Alan. Check out the central bank transactions of the last year. Europe in particular has been nasty. The only way Greenspan can keep that ocean of paper offshore is with interest rate INCREASES. Not good for stocks. Incidentally, for all his talk of "pre-emptory strikes" etc., that last rate hike, as well as Clinton's comments that the U.S. may buy back hundreds of billions of dollars worth of treasuries is a pure and simple attempt to maintain confidence in the buck and treasuries. With the trade deficit where it is, it is only a matter of time before the house of cards comes down. I've never cared for gold, but I do now. Best, Earlie