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To: Rarebird who wrote (38607)	8/8/1999 12:05:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 116760

Thought it might be interesting to poll the posters here about where they expect POG and other key financial numbers like the XAU, the Dow, crude oil, the CRB, the fed funds rate, and the long bond to be at year-end 1999. My forecasts XAU 85 POG $290 Dow 8500 crude oil $22 CRB 207 fed funds 5.5% long bond 6.6%

To: Rarebird who wrote (38607)	8/8/1999 1:28:00 PM
From: Rarebird	Read Replies (2) \| Respond to of 116760

China not planning to cut gold reserves Associated Press DataStream - August 08, 1999 08:30 BEIJING (AP) - China's central bank has no intention of reducing its gold reserves, which are needed to keep the economy stable, a state-run newspaper reported Sunday. World gold prices have dropped 13 percent to their lowest level in 20 years since Switzerland, England and the International Monetary Fund announced plans in recent months to sell thousands of tons of gold reserves over the coming years. A report in the China Business Weekly newspaper noted that declining prices on world gold markets had hurt China, which is the world's seventh largest gold producer. But China's roughly 400-ton gold reserves are small compared with the 8,000 tons held by the United States and 3,000 tons held by Germany, Zong Liang, an official at the Bank of China, said, according to the newspaper. Zong was quoted as saying a certain amount of gold was necessary to "stabilize the national economy and politics." China plans to produce 175 tons of gold in 1999, up from 172.4 tons in 1998. But production slipped during the first five months of the year by 4.1 percent, the report said. In reaction to the downward trend on world markets, China's central bank, the People's Bank of China, has cut prices three times since January. The cuts were likely to slash industry profits this year to zero, the report said.

To: Rarebird who wrote (38607)	8/9/1999 9:13:00 AM
From: Rarebird	Respond to of 116760

THEY USED TO JUMP FROM WINDOWS; NOW THEY SHOOT By JOHN CRUDELE HOPEFULLY there aren't any more Mark O. Bartons out there. But one person who's seen investors crack before is very worried. Barton, of course, is the guy who mowed down a dozen people in Atlanta two weeks ago because he was apparently depressed about $400,000 in trading losses in the stock market. This guy was also a kook, to be sure, who got his jollies and earned a living gambling on Internet stocks. He first wife and her mother were murdered several years ago, and he was a suspect. This time he killed his second wife, two kids and a load of strangers at two brokerage offices. Albert Sindlinger, who at 92-years old is one of the few still around who have adult memories of the 1929 stock market crash, is concerned that the Atlanta murders won't be an isolated incident. And he hopes that speaking out now will help others with potential problems get help. "They used to commit suicide. Now they commit murder. It used to be one casualty; now it can be 10 or more," says Sindlinger, who has a unique vantage point because his firm conducts a survey of 1,000 investors each week. He's finding that older investors are getting worried. Younger ones without a memory of a down market are still buying stocks whenever prices go down. What has Sindlinger worried is that so many Americans are counting on the stock market to get by, and many are taking big chances - like those who are reportedly mortgaging houses to play the equity game. (Barton seems to have somehow lost his house while running up market losses.) And so much of America is counting on riches from Wall Street. Fifty percent of American households now have some stake in the market; only 23 percent did in '29. Sindlinger, who runs Sindlinger & Co. in Wallingford, Pa., thinks - as I do - that the market is in a speculative bubble that could end badly. The Internet stocks - which Barton fancied - are particularly risky and have already suffered a significant correction. Nobody knows how investors will react if the market goes into a prolonged swoon. Sindlinger wants people to be alert to signs of stress in those playing the market. "I don't know when, but it's going to be a disaster," he predicts. "Fifty percent of the people never experienced a bear market. Most brokers never experienced one. And they have to blame somebody else. In '29, people blamed themselves. "Nobody would have thought of that," says Sindlinger, in '29 - much less ever thought of killing anyone but themselves because of market losses. nypostonline.com