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To: Crimson Ghost who wrote (18917)	9/15/1998 9:28:00 AM
From: Don Green	Read Replies (1) \| Respond to of 116784

>Barton Biggs says sell the rally. Is he talking about Gold?

To: Crimson Ghost who wrote (18917)	9/15/1998 11:10:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116784

Did you catch the woes of sqetzha(sp?) due to butter fat prices? heard the butter fat thing somewhere as a prediction?. This fit - inflation = POG up rh

To: Crimson Ghost who wrote (18917)	9/15/1998 12:26:00 PM
From: Alex	Respond to of 116784

TIETMEYER: WRONG TO SAY G7 STATEMENT RECOMMENDS LOOSER MONETARY POLICY By Christian Disastio ÿÿÿÿÿFRANKFURT (MktNews) - It would be "wrong" to conclude that the communique issued Monday evening by G-7 finance ministers and central bank governors signals the need for a concerted effort to cut central bank interest rates in response to ongoing financial turmoil, Bundesbank President Hans Tietmeyer said Tuesday. ÿÿÿÿÿ"It would be wrong to draw the conclusion that this is a recommendation for a general relaxation of monetary policy," Tietmeyer said at a joint press conference with the head of Israel's central bank, Jacob Frenkel. ÿÿÿÿÿTietmeyer's comments come a day after the statement by G-7 finance ministry officials and central bank governors saying that the balance of risks had shifted away from inflation and committing the G-7 to preserving economic growth. The G-7 statement has been widely interpreted as indicating that the U.S. Federal Reserve, and perhaps other major central banks, could cut interest rates in the near future. ÿÿÿÿÿTietmeyer stressed that the monetary situation in Japan or the U.S., for example, is currently "much different" from that of Europe, which is experiencing growth in domestic demand. ÿÿÿÿÿ"Currently there is no need for looser monetary policy in Europe," Tietmeyer said, adding that Europe's interest-rate situation is "clearer" than that of the U.S. ÿÿÿÿÿAsked about Federal Reserve monetary reserve policy, Tietmeyer responded that it was "important" that Fed Chief Alan Greenspan is "carefully weighing the situation." ÿÿÿÿÿTurning more specifically to monetary policy in Europe, Tietmeyer said that the convergence of short-term interest rates to be effected before the start of EMU will be a "interesting process," adding, "We will have to wait and see how the situation develops." However, he added, monetary policy among the EMU participants "has been on the right path for some time." ÿÿÿÿÿ"We are now experiencing the fruits of a relatively stable monetary policy" in the entire EU, but especially in the 11 EMU member states, he said. ÿÿÿÿÿTietmeyer also said that fiscal consolidation steps in the euro-zone have been proceeding in "the right direction" but stressed that those efforts needed to be continued. ÿÿÿÿÿ"This process has not yet ended," Tietmeyer said, adding that "we still have considerable problems ahead of us." In that context, he also referred to the need to grapple with high joblessness and structural economic problems. [TOPICS: MNSEMU] 05:49 EDT 09/15 c 1998 Market News Service, Inc.