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To: flatsville who wrote (81661)	3/16/2001 3:37:14 PM
From: Ilaine	Respond to of 436258

If your public library (or a local university) has the New York Times on microfilm, take a look and you'll see what Joe Kennedy saw. Start at July 1, 1929, the business section has a recap of the big events earlier in the year. Every time there was a big shipment of gold to Germany, the English stock market went down. Can't remember the date now, I think it was July 2, the NYTimes reported that the US stock market went down because AT&T was floating a new issue and everyone else had to pay dividends and there wasn't enough money to go round. It sounds weird today - the only thing I've got to compare it to is August - September 1998 when the Russians defaulted on their IMF loans and LTCM started unwinding. If there's not enough money in circulation, not enough liquidity, then the market goes down, unrelated to value. Maybe Heinz or Dr. A can explain the reason, although probably they'll have different explanations. -g-