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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (29647)	3/13/2003 11:57:07 PM
From: elmatador	Read Replies (1) \| Respond to of 74559

Investors propose to Finance Minister to sell territory to pay debts! In Tokyo where it was to discuss the future re-financing of the Argentinean debts, with private investors, some of them suggested Argentina to sell part of its territory to pay its debts to the rest of the world as Russia did when it sold Alaska to the US. Several NGO's denounced already plans to sell Patagonia, which is sparsely populated but is rich in minerals, gas and oil. I would like Brazil to sell to the highest bidder a small part of the Amazonian jungle and go debt free.

To: TobagoJack who wrote (29647)	3/14/2003 2:19:36 AM
From: elmatador	Read Replies (1) \| Respond to of 74559

US has only 23 days of strategic oil reserves. OECD countries, 74% of total world oil demand have 50 days. It looks the US do need a short war.

To: TobagoJack who wrote (29647)	3/14/2003 2:34:52 AM
From: elmatador	Read Replies (1) \| Respond to of 74559

"...reports of secret surrender talks between America and top Iraqi army commanders, buyers piled in from the start of trading, more than erasing Wednesday's heavy losses. guardian.co.uk COMMENTS: I guess the secret talks are being held in a Pizzeria just incase it ends in Pizza, Jay! Share prices in London rebounded to the second biggest gain in the City's history yesterday, as traders snapped up stocks discounted to rock-bottom levels in the market's three-year slide. Encouraged by overnight reports of secret surrender talks between America and top Iraqi army commanders, buyers piled in from the start of trading, more than erasing Wednesday's heavy losses. Analysts said investors had been lured back by cheap looking stocks and an overnight bounce on Wall Street but some expressed scepticism over whether the rally would prove enduring. "For the time being I would characterise this as a savage, bear market rally," said Richard Champion, a European fund manager at Pavilion Asset Management. Investors had feared more losses yesterday after Wednesday's 5% drop which saw the FTSE 100 index of leading shares hit its lowest level since June 1995. Instead, stock exchanges on both sides of the Atlantic appeared to shrug off the war fears which weighed down recent trading sessions. The FTSE 100 closed up 199.9 points at 3,486.9, a gain of more than 6% and the sharpest rebound since the aftermath of the 1987 stock market crash. In Paris and Frank furt the leading indices also recorded a steep rebounds, rising more than 6% on the day. Analysts said the market had been cheered by the news out of New York where a UN vote on war in Iraq is no longer likely this week. On Wall Street, US stocks were up 2% in midday trading, as reports suggested progress in resolving the standoff over Iraq. But others ascribed the change in the market's mood to a feeling that America's plans to attack Saddam Hussein were moving to a head. "We've hit a maelstrom of wild volatility typical of a turning point in the market," said David Brown, chief European economist at Bear Stearns. "The rally when war begins will be really violent." Equity strategist Ian Harnett at UBS Warburg said there was some evidence investors could be prepared to move back towards more risk based assets but noted the sharp volatility over the past two days. He said: "We have seen stocks down 10% yesterday and up 10% and in some cases in Europe up 15%. That's too large a swing to be based on fundamentals. A lot of it is sentiment." Chris Johns, chief strategist at ABN-Amro said trading was being driven by short-term players rather than long-term institutional investors. "We have had four bear market rallies in the last three years. They felt good at the time but gave way to new lows. When the long term investors are doing very little and traders are determining investment flows inevitably you get very sharp price movements." Only two of the FTSE's top 100 shares escaped a mauling in Wednesday's rout. Yesterday, 97 finished ahead at close of trade. Freddie Tulloch of financial spreadbetter IG Index underlined the mood of scepticism about whether the rally will be sustained with war expected as early as next week. "We are seeing twice as many sell bets as buy bets today. People just don't believe this can possibly last," he said.

To: TobagoJack who wrote (29647)	3/14/2003 3:43:24 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<Nestor Kirchner, seeking to become president of Argentina, will try to return the country to a monetary system where the peso is backed by gold reserves, the Buenos Aires Herald said, citing Kirchner's economics adviser. > Hi Jay. Everyone wants to be a comedian. We have GSM overtaking CDMA thanks to AT&T, the Iraqi generals secretly surrendering and now the crazy Argentinian Aztecs trying to resurrect the dark ages. How on earth do they suppose they can afford to buy the gold with which to have reserves for a new currency? They'll have to allocate a large part of their national output to buying gold, which is really stupid. Starving people shouldn't waste time digging gold. They should dig gardens. I suppose Aztecs find such ideas too complex. They should back their currency with potatoes or wheat or cattle or something if they don't want to do the sensible thing and swap cattle for US$ with which they could buy cdma2000 cyberphones and the other stuff they want. On the other hand, gold is getting so cheap that it might soon be suitable as an Argentinian reserve currency. $333 today [half of 666, the mark of the beast]. Meanwhile, 10xQCOM = $377. I guess your QCOM is nicely see-sawing against your GOLD, so it's no big loss. Then again, I recall you were light on QCOM and heavy on GOLD. Ooops. But there's always tomorrow. I just like to enjoy the sunny days and make hay while the sun shines. Mqurice