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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (18973)	9/15/1998 6:56:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116944

Don, " here we go again " Gold is at its multiyear high, we talked about it...Yen was 90 during Gulf war... Iraq vote to end arms co-operation By Christopher Lockwood, Diplomatic Editor ------------------------------------------------------------------------ External Links <Picture> Permanent Mission of Iraq to the United Nations <Picture> How UN 'inspects' an Iraq site - Christian Science Monitor <Picture> United Nations Special Commission - UN <Picture> Albright defends handling of Iraq [10 Sept '98] - Washington Post <Picture> Extended and continuing coverage of Iraq - ABC News <Picture> News centre - Iraq Net <Picture> Standoff with Iraq - The Password ------------------------------------------------------------------------ <Picture> IRAQ'S parliament, taking advantage of the paralysis that now grips the American body politic, yesterday voted to end all co-operation with United Nations weapons inspectors in a move that diplomats fear will go unchallenged by the West. <Picture> Unanimous: The Iraqi National Assembly votes to end co-operation with the UN weapons inspectors The resolution, adopted unanimously, is not binding on President Saddam Hussein's cabinet, which is expected to meet on Thursday. But in August, a parliamentary resolution was used by the ruling Revolutionary Command Council as a pretext for the partial suspension of inspection missions. Since then, the UN effort has been paralysed. Yesterday, the director-general of the International Atomic Energy Agency said that as a result of Iraqi non-co-operation, it is no longer able to carry out its related task of inspecting Iraq's nuclear programme. The August decision ended the ability of UN weapons inspectors and teams from the IAEA, who are seeking to eliminate Iraq's capacity to produce nuclear, biological and chemical weapons, to inspect any site they need to without warning. But it allowed the work of monitoring known Iraqi military and industrial installations, which might be used to make such weapons, to continue. That monitoring takes the form of regular visits to a declared list of such sites, plus the use of surveillance cameras and sensing equipment. The parliamentary resolution, which diplomats expect Saddam will soon endorse, threatens to stop all forms of co-operation with the UN inspectors. If implemented, it will represent the end of the attempt to disarm Saddam. Iraqi MPs recommended that the leadership decide on "a total break in relations with the UN Special Commission (Unscom)" for disarmament unless the UN restores its regular reviews of the harsh trade sanctions imposed on Iraq after it invaded Kuwait in 1990. Although the sanctions have been extended at every review since then, Saddam has been able to use the review debate as a way of successfully sowing dissent among the Western and Arab alliance that defeated him. Last Wednesday, the UN Security Council, finally reacting to the August provocation of more than a month earlier, voted to suspend the regular reviews of the sanctions until UN weapons inspections are resumed. The sanctions are linked to the work of the UN inspectors, and cannot be lifted until their mission is complete. The UN is not about to reverse its decision of a week ago, so the Iraqi threat will presumably go ahead. Yesterday, the Iraqi parliament also warned of unspecified measures against American and British inspectors in Unscom, renewing charges they were being used as spies. A British diplomat said: "It looks as if we are in for another Iraq crisis."

To: Don Green who wrote (18973)	9/15/1998 8:33:00 PM
From: Mark Bartlett	Read Replies (2) \| Respond to of 116944

Don, << This situation didn't just happen, why hasn't Gold been increasing in value over the last year as things have gotten worse.?>> That is easy - the average investor for the last few years is just throwing money at the market with little regard to the world's mess - mostly because of the "everything's rosy" BS being fed to them by those that control the media and their brokerage accounts. All you need to do is talk to a few of them - they have not got a clue about what is going on in the rest of the world. Do you think it is an accident that every time gold looks like it will rebound a little, a plethora of anti-gold stuff comes over the airwaves. This stuff is planned and executed with little regard to the real economic conditions. As far as I can determine, things look lousy on the international economic front. By the time many people come to grips with this fact, it will be too late. There is absolutely NO, NADA, ZIPPO, reason for the stock market to continue up - it got much higher than it should have gotten. Companies need markets to sell their goods, to make profits - and with just about every significant international market outside of N/A going into the toilet - those markets are drying up. Maybe it has not looked too bad thus far - but I look forward to earnings 1stQ 99 .... I think that will start to tell the tale of the tape. Also ..as was indicated before - if your thesis is that nobody has made money in PM's in the last 18 years because the "trend" is down - then you do not know much about the PM market. Those rises from mid 200's to 350+ have provided lots of opportunity to make mucho $$ - especially in the stocks. <<Do you think concerns in the world are worse now than they were just prior to the Gulf War??? >> Economically, much worse. Gold is not just something people buy because war may be on the horizon - they buy it when they lose faith in paper currencies. Thus far the US$ has been the safe haven but Greenspan has just recently said the US is not an economic oasis .... when the reality of that sinks in - things will change. If there is no other "safe" currency haven at that time - gold's day will have come. MB