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To: Donald F. DeKold who wrote (10331)	4/21/1998 7:39:00 PM
From: robnhood	Read Replies (1) \| Respond to of 117046

<<<and speculation that Germany may soon hike interest rates. >>> Donald, I saw on my D,J news service today that the Italian CB cut their rates by 1/2 a point to 5%.. russell

To: Donald F. DeKold who wrote (10331)	4/21/1998 11:40:00 PM
From: Terry Rose	Respond to of 117046

Donald, Very informative post. My head is still swimming from all the excellent information posted today by you and others on this thread. The August 1997 issue of Strategic Investment had an article by Michael Belkin entitled "German interest rates hold the key". In this article he predicts that a raise in their interest rates will be a catalyst to a global market sell-off. He blames the European stock market boom over the last two years from hedge fund activity taking advantage of the low German interest rates (3% and lower) and subsequently driving European equity prices into the stratosphere. If one considers what a U.S. rate hike would do to our bond and stock markets, one can see what will happen over there. The scary part is their stock market along with those in Switzerland, Spain, and Italy are more overvalued than our market. Tracking the German and Japanese interest rates are crucial, since either one of these countries could kill the tulips with a rate hike. A U.S. rate hike would soon follow in my opinion. One other thought. Since momentum investing is a major trading strategy by the mutual fund whiz kids, I think they will soon be attracted to the gold mining sector. Terry,