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To: IngotWeTrust who wrote (11631)	5/14/1998 5:40:00 PM
From: Lalit Jain	Respond to of 116835

ole 49r, You are probably right about BC, AG and the $ (US & Cdn). The $ is simultaneously passing in front of BC and AG and is heading south. ;-) Once-in-a-millennium sky event captured A very rare get-together Astronomers have observed an event that has not been witnessed from earth for more than 1,000 years - the Moon simultaneously passing in front of Venus and Jupiter. The occurrence was photographed by Erich Karkoschka, of the University of Arizona, and four Brazilian amateur astronomers on Brazil's east coast, near the most eastern point of the American continent. "This event was visible in the night sky of the southern Atlantic Ocean, including a few islands and a small part of Brazil," Dr Karkoschka said. "At no other time duting this millennium was such an event visible in the night sky anywhere on Earth." During the last millennium there was only one other so-called double occultation of Venus and Jupiter by the moon. It is believed to have happened on August 18, 567 AD and was visible visible from the north-west corner of the Indian Ocean. Though as it occurred closer to the sun it could not be observed from Earth as well as this year's event, Dr Karkoschka said. news.bbc.co.uk Regards, Lalit Jain

To: IngotWeTrust who wrote (11631)	5/16/1998 1:10:00 PM
From: Eashoa' M'sheekha	Respond to of 116835

Ok You Lousy Fiscal Neighbours.Take This! (closing the barn door after cows have run amok?) G7 backs Canada's plan for financial watchdog Sees urgent need to improve global supervision Saturday, May 16, 1998 By Madelaine Drohan and Alan Freeman BIRMINGHAM, England -- Leaders from the world's richest countries put their seal of approval yesterday on a plan proposed by Canada to co-ordinate supervision of the global financial system. Shaken by the Asian crisis, the leaders of the Group of Seven countries decided something had to be done urgently to detect and possibly avert similar surprise shocks that could destabilize the world financial system. They instructed their finance ministers to work out the details of how this could be done and come back to them with firm proposals later this year. The idea is to create, in effect, a supervisor of supervisors to tie together the work done separately by institutions such as the World Bank, the International Monetary Fund, the Bank for International Settlements and supervisors for the securities, insurance and other financial industries. "We are conscious of the serious human and social consequences of such crises when they occur," the leaders of Canada, the United States, Britain, France, Italy, Germany and Japan said in a statement. "We therefore see an urgent need to take steps to strengthen the global financial architecture to reduce the risks of such crises recurring in future and to produce a system that is more robust to shocks when they occur." Their meeting, in advance of the full summit of the Group of Eight, which includes Russia, took place against the backdrop of social, political and economic chaos in Indonesia. The idea of improving global supervision of the world financial system has been kicking around since Canada proposed it at the G7 summit in Halifax in 1995. But it received short shrift until the Asian economic downturn last year revealed how easy it was for a crisis in one part of the globe to travel around the world because of the interdependence of the financial system. Finance Minister Paul Martin, who has been pushing the proposal, was pleased last weekend when it was endorsed by G7 finance ministers. That led to the idea being put forward for consideration yesterday by the G7 leaders themselves. French President Jacques Chirac heralded the move as "important progress" but claimed ownership of the idea for the French. "The reinforcement of the international monetary system has been a priority since Lyon," he said, referring to the meeting of the leaders two years ago in France. He proposed a meeting be held in Paris as a followup, an indication that he sees potential for the plan to succeed. Senior Canadian officials said the details that remain to be worked out include how big a new body would be, where it would be located, whether the private sector should be involved, whether country reviews would be public and whether there would be sanctions. While most of the economic statement by the leaders was devoted to threats to the stability of the world financial system and what could be done about it, they also welcomed the stimulus package brought in by the Japanese government to revive its domestic economy. And Ukraine was singled out for criticism, with leaders saying they were expecting its government to implement strong economic reform as a condition of a new financing package from the IMF. They also said G7 funding is conditional on Ukraine closing the nuclear reactor at Chernobyl on schedule.