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To: Canuck Dave who wrote (17176)	8/19/2003 12:28:25 PM
From: Louis V. Lambrecht	Respond to of 39344

CD - have read a paper this weekend on the necessity for central banks to keep the POG down. Can't find it back. Sorry. Anyway, IMO, the key is in the US longer term interest rates, first domino to fall. Rates are not far from a level at which the mortgages will become prohibitive. And longer term interest rates are not in the hands of the Fed: this is the major global financial market setting the price. When the tide turns, even the Fed will be helpless.