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To: Giraffe who wrote (18412)9/10/1998 9:39:00 PM
From: Giraffe  Read Replies (1) | Respond to of 116758
 
GOLD: 'Clinton effect' helps lift gold price
By Kenneth Gooding and Paul Solman
Gold was caught up in the uncertainties created by the threat that US President Bill Clinton might be impeached.

As the dollar weakened and US share prices fell, gold was "fixed" in London on Thursday afternoon at $290.50 a troy ounce, up by $7.05, or 2.5 per cent. It held on to its gains in New York trading.

Much of the increase came from funds covering short positions, dealers said.

Andy Smith, analyst at the Mitsui trading group, pointed out that, apart from the "Clinton effect", there were uncertainties caused by Russia's economic collapse and turmoil in Asia. "If gold couldn't rise when all this is going on, when would it go up?", he asked.

Dealers suggested gold might go higher in the short term before selling by Australian and South African producers capped the move.

Oil prices rose after figures from the American Petroleum Institute showed US crude stocks had dropped 6.68m barrels to 329.9m barrels in the week ended September 4.

Traders said the price was also helped by news that the UN had suspended its review of sanctions against Iraq. The review might have led to increased oil exports under the oil for food programme.

In late trading on London's International Petroleum Exchange, the benchmark October contract Brent crude was $13.34 a barrel, compared with Wednesday's close of $12.76.

White sugar futures dropped to $215.50 a tonne in late trading on the London International Financial Futures Exchange compared with Wednesday's close of $220.40.

Financial Times



To: Giraffe who wrote (18412)9/10/1998 9:44:00 PM
From: Giraffe  Respond to of 116758
 
La Ni¤a on the heels of El Ni¤o
Hopes among commodity markets of a return to normal in world weather conditions have been put in doubt but many are wary of predicting a big impact, says Paul Solman
As the world's commodity markets labour under the weight of the Asian financial crisis and Russia's economic difficulties, one bright spot has been the prospect that the world weather systems would return to normal after the havoc created by El Ni¤o.

However, in the wake of El Ni¤o - "little boy" in Spanish - comes his sister, La Ni¤a, which is forecast to bring its own climatic changes until the middle of next year.

El Ni¤o occurs approximately every seven years and La Ni¤a is part of the same cycle. So where the little boy goes, his sister follows.

"La Ni¤a is the opposite of El Ni¤o. Where El Ni¤o was a warming of sea surface temperatures, La Ni¤a is a cooling down," says Dr Mike Davey of the Meteorological Office in London.

El Ni¤o's effects included drought in locations as far apart as Panama, the Philippines, South Africa and Costa Rica.

By contrast, La Ni¤a is expected to bring wetter weather than usual to many regions, especially equatorial Pacific, Dr Davey says. On the other side of the world, where El Ni¤o brings rain to Brazil, La Ni¤a usually brings drier weather.

However, some weather watchers are cautious about predicting the effects of La Ni¤a.

Judith Ganes, analyst at Merrill Lynch in New York, points out that, even though last year's El Ni¤o system brought big climate changes, some of the expected crop devastation did not materialise.

"Ivory Coast was expecting huge losses in the cocoa crop, but it didn't happen, so it can be dangerous to speculate," she says.

Wheat market prices rose last year on the expectation that El Ni¤o would cut supplies from Australia, one of the world's biggest exporters. But they dropped back when Australia's crop losses were offset by an unusually large harvest in the US.

Lawrence Eagles at GNI in London says: "After one of the biggest El Ni¤o events on record, a lot of people are very wary about predicting a big impact from La Ni¤a. Although last year's El Ni¤o had a big effect on weather conditions, its actual economic impact was more muted."

In some cases, such as the oilseed crops in Brazil and Argentina, El Ni¤o actually helped boost production.

Weather problems have also been blamed on El Ni¤o and La Ni¤a when such a link is questionable. Mr Eagles points out that the widespread flooding in China in the past few months has been attributed to La Ni¤a, though the cause is not certain.

Ms Ganes says: "There is a tendency to look for a cause for big changes in the weather. Last year, it was El Ni¤o; before that it was global warming."

Scientists believe La Ni¤a may be linked to greater hurricane activity, such as hurricanes Bonnie and Earl which swept the US east coast in the past month.

"Increased hurricane activity with La Ni¤a could be because El Ni¤o tends to suppress hurricane activity," says Mr Eagles. "There were fewer hurricanes last year. But it's too early in the hurricane season to see whether there has been a real increase."

Much of La Ni¤a's impact will be down to timing.

"Crops will react differently to unusually wet weather, depending on whether it arrives during the wet season or the dry season," says Mr Eagles. "El Ni¤o was so powerful this time that La Ni¤a has started a little later than usual - nearer the northern hemisphere's winter. So the wet weather might have less of an impact on crops there."

Australasia and east Asia could experience heavier rainfall as well as south-east Asia and especially Indonesia, Malaysia and Thailand. That could mean crop damage or better yields, depending on how long the rain stays, says Mr Eagles.

La Ni¤a could even provide a much needed boost to the energy sector. "Colder than usual weather in North America and northern Europe, brought by La Ni¤a, is likely to increase demand for natural gas and heating oil," said one analyst in New York.

A sharp jump in energy prices could be the good news the oil market has been hoping for.

Financial Times



To: Giraffe who wrote (18412)9/10/1998 9:46:00 PM
From: crc  Read Replies (2) | Respond to of 116758
 
I am looking for a gold mining stock that fits all of the following criteria:

a. is one of the 10 largest companies in the industry.
b. has a strong balance sheet.
c. price hedging activities are minimal.

Any suggestions? Thanks in advance.

Chris



To: Giraffe who wrote (18412)9/10/1998 10:11:00 PM
From: CIMA  Respond to of 116758
 
Global Intelligence Update
September 11, 1998

Iran Prepares for Possible Attack on Afghanistan

On September 10, the Iranian news agency IRNA reported that Iranian regular
army forces are being deployed in Baluchestan province, bordering the
southwestern Afghan province of Nimruz. The new deployment joins 70,000
Revolutionary Guard (IRGC) and Basij troops, already stationed farther
north along the Afghan border in Khorasan province. Iranian officials
claim the new troops are being deployed to take part in annual military
maneuvers, code-named "Zulfaqar-2." General Ali Shahbazi, commander of the
Iranian Joint Chiefs of Staff, said that the forces had been staged for a
month, though he did not disclose the exact number of troops or the
timetable for the deployment and exercises. A top Iranian army officer
told the Tehran Times that the Iranian Army's Zahedan Division 88 and
Khorasan Division 77 are to be deployed along the Afghan border in
Baluchestan province to support the IRGC.

On September 2, some 70,000 Revolutionary Guard soldiers and Basij
reservists staged the large-scale "Ashura-3" maneuvers in the Torbat-e-Jam
region of Khorasan province, near border with the Afghan province of Herat.
Following the Ashura-3 exercises, IRGC commanders announced that the
participating forces would remain in the area. The commander of the
Revolutionary Guards, Major General Yahya Rahim Safavi, said his men
simulated attacks deep into enemy territory, but he denied Iran was seeking
confrontation. Explaining this new troop deployment, Shahbazi said, "the
unusual military activities across the eastern border have been a source of
increased security disturbances which have made the military exercises
inevitable."

Potentially supporting Shahbazi's claims, the London-based newspaper "Al-
Hayat" reported on August 31 that the Taleban were in the process of
massing some 11,000 troops along the Afghan border -- 6,000 troops in
Nimruz, and 5,000 troops in Farah province, opposite Iran's Khorasan
province. Additionally, on September 5, BBC reported that the Taleban had
begun arming civilians in the provinces bordering Iran since the IRGC
exercises began. There is some question about the Taleban troop figures
listed in Al-Hayat's report, however, as Afghan opposition forces claim
that a total of only 8,000 Taleban troops took part in the recent offensive
that swept opposition forces from northern Afghanistan, and 1,700 of those
were allegedly actually Pakistani troops.

Nevertheless, a steady barrage of political rhetoric has accompanied
Tehran's military buildup. In a meeting with deposed Afghan President
Burhanuddin Rabbani on September 10, Iranian President Mohammad Khatami
said, "we consider the instability in Afghanistan as a threat on our
borders to our national security, whose defense is our right." On that
same day, Iranian state radio asserted the right of the government, under
international law, to take all necessary action against the Taleban
movement in Afghanistan. A statement read by an announcer said, "Tehran
has tried... to make the [United Nations] Security Council aware of a
situation, which can threaten international peace and security. After this
process, Iran will have the right under Chapter 7, Article 51 of the UN
Charter to take all necessary action in the context of legitimate defense."
The announcement came shortly after American defense officials told the
Washington Post newspaper they believed Iran was about to launch a raid
into Afghanistan.

The Taleban's admission, on September 10, that nine of the eleven Iranian
nationals missing since the city of Mazar-e-Sharif fell to Taleban forces
on August 8 have been killed by renegade Taleban soldiers, would be but an
excuse for any Iranian action against the Taleban. Iran has long opposed
the Pakistan-backed, radical Sunni Taleban. Along with Russia and the
Central Asian republics, Iran has supplied arms, ammunition, and materiel
to anti-Taleban forces. Tehran was surprised by the sudden and
overwhelming success of the Taleban against those forces in an offensive in
early August. The Taleban have severed nearly all of the supply lines to
the few remaining pockets of opposition forces, most recently capturing the
airport in Bamiyan that was used by Iran to supply the Shiite Hezb-i-Wahdat
faction. With winter approaching, the Taleban have the potential to starve
out the forces they can not defeat militarily. While conquering and
unifying the fractious Afghanistan is extremely difficult, the Taleban are
now closer to that goal than any other group in decades.

Equally as difficult as conquering and unifying Afghanistan from within, is
intervening in Afghanistan from outside. Yet with up to 100,000 Iranian
troops massing along the Afghan border, it appears likely that Iran may
choose to do just that. While we think that a full-scale invasion so near
winter would be suicidal, the Iranians do have one military option with
limited but achievable goals. This would be a limited strike, with the
intent of forcing a redeployment of Taleban forces, thereby relieving
pressure on the anti-Taleban alliance and allowing them to survive and
regroup during the winter.

The Iranians are aware that, even with the available forces massed along
the border, they do not have the capability to mount a full-scale invasion
of Afghanistan. The Soviet Union invaded Afghanistan with a similar number
of troops, and much more and better quality equipment and supplies, and
still failed to consolidate its hold on the country. Besides, Iran has no
need nor desire to conquer Afghanistan. It just doesn't want the Taleban
to do so.

Additionally, protests of Taleban cross-border raids notwithstanding, Iran
has no need of a buffer zone within Afghanistan. Iran's mountainous border
with Afghanistan provides a natural defense. However, the Afghan side of
the border is a plain, offering poor cover for an Iranian occupying force.

One possible target of an Iranian attack would be the Taleban's
headquarters in Kandahar. While the Taleban hold the Afghan capital of
Kabul, their leadership remains in Kandahar. Furthermore, the bulk of
Taleban forces are off fighting opposition forces in northern and central
Afghanistan. The problem is that Kandahar is 400 kilometers from where the
Iranian regular army forces are being deployed, 500 kilometers from their
airfields, and still further from the IRGC forces to the north. An attack
that deep into Afghanistan, with flanks exposed to Taleban-held mountains
in the north and pro-Taleban Pakistan in the south, would be extremely
risky.

No, the main objective of an Iranian attack would be to draw Taleban forces
away from siege positions around the opposition's remaining strongholds.
To achieve this goal, the IRGC needs only to strike as far as Herat in the
north, moving down the A-01 highway past Shindand, to meet up with the
Iranian regular army forces around the city of Farah. This pincer movement
would capture the main supply route for Taleban forces in northern
Afghanistan, and would threaten their headquarters in Kandahar. This would
certainly succeed in drawing Taleban forces away from opposition
strongholds. Iran could then either withdraw, letting the winter take up
the opposition's defense, or Iranian forces could hold their limited gains,
severing the main Taleban supply route to the north and attriting any
Taleban forces that chose to challenge them.

Iran has one major question standing in the way of intervention: How will
Afghanistan's other neighbors react. Pakistan is the main supporter of the
Taleban, and indeed Tehran has publicly lashed out at Islamabad for doing
so. Pakistan could intervene militarily on behalf of the Taleban, as some
have asserted it did during the Taleban's recent offensive. But with its
relations with India already grim, does Pakistan really want to take on the
Iranians as well?

As for Russia, which held its own military exercises in Tajikistan
recently, its options are few. Joining Iran in engaging the Taleban would
be precedent-setting. It would also be unlikely, since on the political
side, Afghanistan is to Russia as Vietnam is to the U.S., and on the
practical side, the Russian army does not have the financial resources to
take part in such an attack. Yet Russia would be loath to condemn a
limited Iranian operation, as Moscow shares Tehran's opposition to the
Taleban. Uzbekistan could potentially participate in a very limited way,
but we see this as unnecessary, and therefore unlikely. If Iran commits to
this attack, they will likely go it alone. But examining all the factors,
an Iranian intervention stands a good chance of meeting its limited
objectives.

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To: Giraffe who wrote (18412)9/10/1998 11:15:00 PM
From: E. Charters  Respond to of 116758
 
Full moon was last week. I am just collecting moseltov sympathizers for the firing squad next embassy weiner roast. That's three so far for the wiretap. How much do you send the Bin Laden Allah for president fund each month?



To: Giraffe who wrote (18412)9/13/1998 8:43:00 PM
From: Bill Jackson  Respond to of 116758
 
Giraffe, You may not be aware of it, but one of the major fears of Israel, as well as the other nukular powers(to use the DC spelling)
is the acquisition by third world countries of USSR nuclear weapons.
Fortuneately the tritium used to help them blow big has a short half lifetime and once they lose too muc they become squibby and 1/50th as yieldy. Still good for fissionable metals to make old style atom bombs. The laser timing loop means they can now trigger a symmetrical implosion with the precision to give the compression and contanment time to do a reasonable job. Arab money is tempting to the starved anbd crooked watchers of the bombs. Apparently many has disappeared and there are many Russin, israeli and USA "black ops" to get this stuff back and destroy it.
So Charters hasa kernel of truth in what he says.
This is a subject of extreme concern, witnes the recent bombs on Iraq. Israel would act in a heatbeat to stop such actions. there are rumors but CNN seems blind to it for political or state reasons.
One fear is a 20,000 ton suitcase bomb. This needs fresh tritium and can be made in a shielded case at 60-80 pounds in weight. there are scitillation counters hidden all oev the USA, in airports, highways, bus stations looking for cetain key energy signatures that can pass through shielding. Some of these are totally absent in nature so if you see any something is up. These are linked to cameras and they photograph the radiation source and send a signal and the hunt starts. So far just old Xray stuff. They did find some 1000s of tons of iron railings that were holding cobalt from a cobalt 60 source that a scrap dealer broke up and sent to the steel mill.
So do not live in paranoia, but be aware that some third world governments are trying to get nukes and poor mans nukes)chemical/bio weapons). Are they arabs? Follow the money. that one who was bombed a few weeks ago is numero uno on the bomb acquisition suspect list.

As to war? No way. Just acts of terrorism, New York Bomb, DC Bomb, no enemy to smash, no way to satisfy them.
Do they want money? or religious rule?
Bill