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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (23544)	8/21/1999 9:08:00 AM
From: Benkea	Respond to of 99985

BEARon's Gene Epstein made his market is not overvalued for the second consecutive week. I have always figured Barron's would be the last bear to capitulate.

To: Les H who wrote (23544)	8/21/1999 11:53:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

Hi Les; What gets me is how many market gurus go on and on in a way taht justifies intervention "if" it happens under certain conditions. More often than not those conditions depend on the position they have in the market. That any intervention no matter who it helps also hurts somebody else is over looked. Fed & BOJ intervention is never done taht certain BIG principles are not fore warned, we have at least 3 in the US; GS, Morgan and Lynch, these also confer with the major finance ministers in England, Japan , the IMF as well as some others. Agreements must be reached between these players before any major intervention can happen as it's considered irresponsible for Fed intervention to be done in some maverick way. That we could have rules and regulations about intervention that maintained a level playing field , and a TOBIN tax that limits the ability of Forex collusion and the circumvention of anti trust laws is all swept under the table. The big international bankers have their own rules of conduct and for the most part it's their stooges that hold the primary positions in The Fed as well as the BOJ IMF etc. Nothing is done in the best interest of fair play or creating a level playing field for smaller players. It's the big dogs eating the little ones and a vicious fight is on going to keep it taht way. While intervention at some point in time may be made to look good and thus justifying it and making it acceptable to the masses when ever it's done it's because the regulations that could have reduced or eliminated the need for it in the first place were shot down. Why people take for granted the Fed is immune from corruption is beyond me, they are not any more honest than the politicians who appoint them "IF" as honest, they just have a slicker way of hood winking the public. Jim