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.

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

To: TobagoJack who wrote (38864)	9/26/2003 5:18:44 AM
From: Snowshoe	Read Replies (3) \| Respond to of 74559

UPDATE - Swiss Nat Bank to sell 284 tonnes gold by Sept 2004 biz.yahoo.com Friday September 26, 5:11 am ET ZURICH, Sept 26 (Reuters) - The Swiss National Bank will put another 284 tonnes of gold from excess reserves on the market by the end of September 2004 and sell 130 tonnes in the year after that, the central bank said on Friday. It said it had sold 886 tonnes since May 2000 under a 1999 accord that limits sales by major European central banks to a combined 2,000 tonnes by September 2004 when the accord expires. The SNB has routinely sold excess gold. It aims to dispose of 1,300 tonnes -- around half its original stockpile -- that it no longer needs to hold as reserves. The 284 tonnes to be sold over the next year will take the total to 1,170 tonnes, leaving 130 tonnes to be sold before the programme wraps up. "The SNB will sell the residual amount of 130 tonnes in the year following the expiry of the present agreement" among central banks, the SNB statement said. The bank said it would "follow its proven strategy of conducting the sales in regular transactions with prime institutions with which it already maintains business relations". Gold prices eased on the SNB's detailed sales plans. Recent sales have benefited from the metal's rise to seven-year highs on its safe-haven appeal amid rising oil prices and a weakening dollar. Dutch Central Bank Governor Nout Wellink told Reuters last week that a new deal covering the sale of central bank gold was discussed briefly during an IMF meeting in Dubai, but would only be tackled properly early next year. The old deal limited central bank gold sales to 400 tonnes a year for five years and was struck on the sidelines of the 1999 autumn meeting of the International Monetary Fund (News - Websites) in Washington. An SNB spokesman declined to comment on prospects for extending the accord.

To: TobagoJack who wrote (38864)	9/26/2003 5:26:08 AM
From: Agamemnon	Read Replies (1) \| Respond to of 74559

Jay, I'm thinking of allocating some 401K to temp. dragon fund which I'm sure you own. It's a closed fund so I'm not sure what that means since it trades on NYSE. I'm also a little perplexed about US not wanting YUAN devalued....it's pegged to the dollar! what more do they want, but I guess it would a appreciate a bit if it floated. How would this affect china investments? I'm thinking if it floats higher or even a forced lower doesn't much matter. & this 1987 repeat comes to pass I guess no market escapes?9

To: TobagoJack who wrote (38864)	9/26/2003 5:40:57 AM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 74559

>>The stock market crash in 1987 had a catalyst in James Baker's pronouncement over the weekend before the crash that the US would no longer support the dollar. At the time, the US was running ever-increasing budget deficits and current account deficits. Sound familiar? Does Treasury Secretary Snow realize what he's saying? Are we setting ourselves up for a repeat? Plenty of liquidity out there, but does an intentional devaluation of the US dollar scare them away at some point?<< Message 19326730