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

To: Mike M2 who wrote (84713)	10/31/2000 8:37:54 AM
From: Tom M	Respond to of 132070

Interesting read on preparing for the next bailout: financialsense.com "The New York Mercantile Exchange found the bill's passage appalling. In effect, HR4541 removes the energy and metals markets from public scrutiny and regulatory oversight. Could the Administration know something that the financial markets don't yet know? Usually, where there is smoke, there is fire. With tensions in the Middle East rising, oil prices escalating, inflation on the move and the stock market in turmoil, the price of gold is going down as a result of the bullion banks and their derivative book. Maybe Washington and Wall Street are preparing for the next bailout. The price of gold is declining along with silver, at a time when they are both in short supply. World crises abound every which way you look. Our financial markets remain shaky, and John Q. Public is waking up to the fact that inflation is becoming real as he pays his bills the first of every month. Washington is intervening in the oil markets, the stock market, the bond market and the currency markets. The moral hazard argument is now at work. We know about bank deposit guarantees. Now it looks like we'll have financial market guarantees. Hold on to your wallets ¾ this is going to get interesting."