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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Jim S who wrote (37366)	7/19/1999 8:18:00 PM
From: baystock	Read Replies (1) \| Respond to of 116786

<<Fund managers are preparing defensive strategies for a Wall Street crash which many analysts feel will happen sooner rather than later. Peter Everington, chief investment specialist with Regent Fund Management, says: "The US market is a bubble that will burst. The Dow will fall to 6,500 and the highs may not be re-visited for over 10 years." Everington says there was never an isolated emerging market crisis. "It was a global bubble built from mid-1995 when the Japanese began printing money to bail out their banking system." This money found its way into the US dollar system via the purchase of US$400 bn of Treasury bonds by Japanese institutions. "As the bubble began to burst, Asia went first because it was guilty of the greatest excesses. This was followed by Russia and South America but the tidal wave stopped at the US doorstep because of timely Fed intervention." Significantly Everington warns: "In reality this has delayed the inevitable and possibly made the eventual fall more precipitous." >> iii.co.za