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To: BW who wrote (10219)	1/16/2003 3:14:25 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 48461

This will make you sit up and take notice> Amazing that the idiot UN inspectors found some EMPTY and previously declared warheads and this is front page news, driving gold up big... Makes me wonder what would happen if the nut in N Korea forgets to take his prozac/lithium cocktail...... Dollar Falls to 3-year Low vs Euro on Mounting War Concern ((good thing I have a huge supply of single malts in inventory, they are up 18% since I bought 'em)) By Geraldine Ryerson-Cruz New York, Jan. 16 (Bloomberg) -- The dollar fell to a more than three-year low against the euro on speculation the U.S. is closer to a war with Iraq, underscoring concern the U.S. will fail to attract enough foreign investment to support the currency. The U.S. must attract $1.4 billion a day of international investment to offset its deficit in the current account, the broadest measure of international trade. Concern over the deficit has heightened amid concerns a U.S.-led attack on Iraq will cause foreign investors to keep more of their money at home. ``International investors are risk averse and there's not a free flow of money around the world to finance our current account deficit,'' leaving the dollar vulnerable to a decline, said Grant Wilson, senior currency trader at Mellon Financial Corp. in Pittsburgh. The U.S. currency declined to $1.0620 per euro at 1:51 p.m. in New York, from $1.0559 yesterday, its lowest since Oct. 27, 1999. The dollar fell to 117.79 yen from 118.10 yesterday, close to a four-month low of 117.64 reached Tuesday. Once the dollar weakened past the $1.06 level, automatic orders set by traders to sell the U.S. currency for euros were triggered, accelerating the decline, Wilson said. Concern a war may curb foreign investment in the U.S. has contributed to the dollar losing 7.6 percent of its value against the euro, 5.5 percent against the yen and 8 percent against the Swiss franc in the past three months. Oil, Gold Prices for oil and gold also rose as the U.K.'s Sky News reported that United Nations weapons inspectors found 11 empty chemical warheads in Iraq. Sky News cited comments by U.N spokesman Hiro Ueki to reporters in its report. Crude oil for February delivery rose 1.3 percent in New York trading. Oil has risen 78 percent in the last 12 months, raising concern higher energy prices will curb consumer spending and slow the economy. Gold rose 2 percent to $358 an ounce, its highest since March 1997. Gold and the dollar have moved in the opposite direction about 87 percent of the time in the past year. A retreat in U.S. stocks after gains in morning trading also sapped demand for the dollar. The Standard & Poor's 500 Index fell 0.3 percent after having advanced as much as 0.9 percent. Stocks fell after a Philadelphia Federal Reserve Bank index measuring manufacturing activity in the Philadelphia region declined in January as factories lowered their outlook for employment and future business activity. Dominant Theme ``Dollar weakness is still the dominant theme, until proven otherwise,'' said Tim Stewart, head of currency strategy at Morgan Stanley, the seventh largest trader in the $1.2-trillion-a-day currency market. ``A current-account deficit is a negative on the checklist for any currency.'' The dollar may weaken to $1.07 per euro in coming weeks, he said. Both Japan and the euro zone have current-account surpluses. A cheaper dollar can help U.S. exporters because it makes their goods less expensive for foreign buyers. Johnson Controls Inc., the world's second-largest maker of automotive interiors, increased profit 17 percent in its fiscal first quarter ended Dec. 31 on growing demand in Europe. John Casesa, a Merrill Lynch & Co. analyst, wrote in a report that Johnson's higher sales in Europe were helped by ``favorable currency translation.'' The dollar fell 6 percent against the euro in the final three months of 2002.

To: BW who wrote (10219)	3/10/2003 1:19:01 PM
From: Bucky Katt	Respond to of 48461

Pete Townshend to be 'given a caution' 10 March 2003 Rock star Pete Townshend will not be prosecuted for possessing child pornography, it was reported today. The Who guitarist, 57, is expected to get a formal police caution, after insisting he accessed a child porn website as part of a research project into the horrors of the paedophile trade. Sources say the decision came after detailed examinations of computers seized during a raid at his Richmond home. Insiders say it now appears "highly unlikely" he will face a court appearance. Townshend's credit-card details had appeared among 7,272 names handed to police by the US Postal Inspection Service. The charges he had faced - of possessing, making and incitement to distribute indecent images of children - could have led to up to five years in jail. thisislondon.com