Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (4706)	6/5/2003 9:13:25 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 5423

USA exported its whiteman bloated currency to the other whiteman continent from dollar to euro this overvalued currency problem will become a massive hot potato so far the Asians have avoided accepting the hot potato that is about to change when the euro is done rising, maybe after hitting 120 or 125 or 130, dunno exactly anyway, when it is done rising, I think the yen will take its turn on the destructive currency highway the EuroZone will see recession now more widely I know Germany is in recession I read of two other nations also were they Denmark and Italy? Germany is the bigboy in recession, hurting the whole EU such is the consequence of the ECB not playing the wreckless game exercised by the Bank of Japan is killing their currency instead, EU will cull bad branches and overly indebted entities, shedding jobs bigtime when unemploymt is already about 10% Japan will have its turn I predict the JYen will rise toward 100 parity before the jonquils and daffodils rise next spring just a quick 3-yr look at the JYen to see a massive Head & Shoulders bull pattern, with a noticeable bullish triangle on the Right Shoulder for a breakout stockcharts.com[h,a]waclyyay[df][pb50!d20,2!f][vc60][iUb14!Uh15,5,5]&pref=G by Labor Day I expect the JYen to break out upside that is my major call for the rest of this year so many things have to happen, pre-ordained, inevitable JYen rises, imported inflation, CPI rises, longterm TBond yield rises, mortgage rates rise, real estate falters / jim

To: philv who wrote (4706)	6/5/2003 9:55:30 AM
From: 4figureau	Respond to of 5423

ECB Cuts Rate to 2%, Lowest in More Than Half Century >>``Fifty basis points alone don't change the picture for the economy,'' said Marco Duenkeloh, who helps manage the equivalent of $4.3 billion at SEB Investment Funds in Frankfurt. The ECB will later today ``probably signal that more cuts are in the pipeline.''<< June 5 (Bloomberg) -- The European Central Bank cut its benchmark rate half a point to 2 percent after the euro's appreciation sapped economic growth. The reduction brings rates to their lowest since at least 1948 in the dozen nations sharing the currency. ECB President Wim Duisenberg and the 17 other council members decided on the cut, the third since December, at a meeting in Frankfurt today. The Bank of England kept rates at a 48-year low earlier today and Sweden's central bank pared borrowing costs to the lowest since 1999. The region's $8 trillion economy is stagnating as the euro's 24 percent gain against the dollar in the past year hurts profitability at companies such as Volkswagen AG and Alcatel SA. Politicians including Italian Prime Minister Silvio Berlusconi have urged the ECB to cut rates as the euro's appreciation helps push inflation below the bank's 2 percent ceiling. ``This helps the economy but the signs of a recovery aren't strong,'' said Karsten Junius, an economist at Dekabank in Frankfurt and the co-author of a guide to how the ECB works. ``We could see another cut in the second half.'' Duisenberg on Tuesday said that there are still ``downside risks'' to economic growth this year. The European Commission today said the euro economy may continue stagnating in the second and third quarters, after stalling in the first three months. European services businesses, the biggest part of the region's economy, shrank for a fourth month in May. Slowing Inflation ``The decision keeps rate cut expectations alive,'' said Bernd Pursteiner, who helps oversee $6.5 billion at DZ Capital Management in Frankfurt. ``The economic recovery will be rather hesitant and further rate cuts will become an issue again from September. We expect another half cut after the summer break.'' The yield on the three-month Euribor contract maturing in September fell 3 basis points to 1.99 percent at 1:48 p.m. in Frankfurt. The three-month money market rate was at 2.17 percent. ``If we see a recovery, it won't be until the end of the year or the start of next,'' said Wolfgang Leese, chief executive officer of Salzgitter AG, Germany's second-largest steelmaker. Lower rates are needed ``so that people can start investing again.'' The ECB has now pared interest rates seven times since the start of 2001, compared with 12 reductions by the U.S. Federal Reserve in the same period. The Fed's benchmark interest rate currency stands at 1.25 percent, a 41-year low. Slowing Inflation Today's cut takes the ECB's benchmark rate to the lowest for any country in the euro region since at least 1948, the year the deutsche mark was introduced and Europe first received money from the Marshall Plan. The ECB took charge of monetary policy in 1999, when the euro replaced the mark and other European currencies. Slowing inflation gave the ECB the leeway to act. The annual rate of consumer price increases slowed to 1.9 percent last month, the lowest in almost a year, as the euro's advance made imports cheaper, oil prices declined and the stagnant economy hurt companies' ability to raise prices. ``There is now a small price war'' as slowing growth hurts consumer spending, said Yves Dumont, chairman of champagne maker Laurent-Perrier SA. The IMF this week said it expects the euro region's inflation rate to fall under 1.5 percent next year. `Moderate' Recovery The ECB still sees the economy picking up in coming months. Vice President Lucas Papademos last week forecast a ``moderate'' recovery later this year that will ``gather pace'' in 2004. German manufacturing orders in April rose more than economists had forecast and business confidence in May unexpectedly rebounded from a 16-month low. The number of people seeking work in Germany declined last month, though the country's unemployment rate remained at a 4 1/2 year high. Fed Chairman Alan Greenspan on Tuesday suggested that the U.S. economy, destination of almost a fifth of Europe's exports, is poised to accelerate in the second half. The Bank of England today left its benchmark lending rate at 3.75 percent amid signs consumer spending may support Europe's second-largest economy, which grew at its slowest pace in a year in the first quarter. The euro region's economy is weighing on growth across the continent. Sweden's central bank today lowered its benchmark rate by half a point to 3 percent after paring its 2003 growth forecast for the largest Nordic economy to 1.2 percent from a March prediction of 1.7 percent. Sweden, Switzerland Sweden relies on the economy of the dozen euro nations for about 40 percent of exports, which include Volvo AB trucks and Ericsson AB telecommunications gear. Manufacturing shrank for the first time in 1 1/2 years in May. The Swiss economy slipped into recession in the first quarter, a report showed today. In the euro region, manufacturing contracted for a third month in May as the euro's 11 percent increase against the dollar this year made exports more expensive and rising unemployment damped consumer spending. The jobless rate in the euro countries, 8.8 percent in April, is at the highest in more than three years. The euro's gains eroded Europe's trade surplus to 1.6 billion euros ($1.9 billion) in March from 11 billion euros a year earlier. Exports are equivalent to about a third of the euro region's economy. The euro rose after the ECB's announcement. The single currency rose 0.7 percent to $1.1779 at 2:04 p.m. Frankfurt time, from $1.1703 yesterday. More to Come Bayerische Motoren Werke AG, the world's No. 2 maker of luxury cars, said last month that the increase of the euro against the dollar may begin to hurt earnings next year, when the company is no longer fully hedged against currency fluctuations. The ECB may need to do more to spur Europe's economy, which last year grew at its slowest pace in almost a decade, investors say. ``Fifty basis points alone don't change the picture for the economy,'' said Marco Duenkeloh, who helps manage the equivalent of $4.3 billion at SEB Investment Funds in Frankfurt. The ECB will later today ``probably signal that more cuts are in the pipeline.'' quote.bloomberg.com

To: philv who wrote (4706)	6/5/2003 10:04:06 AM
From: Jim Willie CB	Respond to of 5423

USDollar took a major dump, dont forget to wipe (92.62) quotes.ino.com the clownbuck is very unstable when it attempts to rise even after some heavy down days with ECB cutting rates significantly, one would expect the US$ to rise, owing to reduced interest rate differential but no this indicates weakness of high order with unemployment applications over 440,000 we have ample evidence of US Economy approaching recession despite all stimulus with 12 rate cuts, with tax cuts, we still shed jobs yes, economists estimated a drop by 17,000 but then again, they are a bunch of inept frontmen babboons MAYBE THE USDOLLAR NEEDS TO DECLINE ANOTHER 30-40% ??? / jim