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To: lorne who wrote (18991)	9/15/1998 9:17:00 PM
From: Don Green	Read Replies (1) \| Respond to of 116764

>Hasn't the price of gold increased in those countries where things have gotten worse. I don't know.. But since the U.S. dollar is the world's trade currency, I would say Gold's value would be most accurately priced on it's relationship to the U.S. dollar. regards Don

To: lorne who wrote (18991)	9/15/1998 9:18:00 PM
From: Mark Bartlett	Respond to of 116764

lorne, <,Hasn't the price of gold increased in those countries where things have gotten worse. >> Absolutely - had many of these people had some gold - it would have saved their behinds. MB

To: lorne who wrote (18991)	9/16/1998 3:22:00 PM
From: Alex	Read Replies (1) \| Respond to of 116764

Greenspan Says Capital Controls No Answer To Crisis <Picture: Clinton Laughs as He Is Introduced in New York> Clinton Laughs as He Is Introduced in New York More photos WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan, making no mention of the outlook for interest rates in the United States or elsewhere, said Wednesday that capital controls were the wrong answer to the crisis that has shaken world markets. He suggested that countries affected by the turmoil needed to bolster domestic financial institutions and beef up their supervisory systems. He also said some temporary help would be required to support countries through the transition toward a healthier financial system, but noted such aid needed strict conditions. Greenspan noted some observers had concluded from the current crisis sweeping world markets that the free flow of capital across borders is detrimental to growth and living standards. "Such conclusions, in my judgment, are decidedly mistaken," he said in prepared testimony to the House Banking Committee. "It can be hoped that despite the severe trauma that most of the newer participants in the international financial system are currently experiencing, or perhaps because of it, improvements will emerge to the benefit, not only of the emerging market economies but, of the long-term participants of the system as well," he said. Greenspan declined to provide an overall assessment of the financial turmoil or predict how it may play out. He singled out Japan's banking problems and its weak economy, which he said had exacerbated Asia's problems. He also said that despite the contagion that had most recently spread to Latin America, those nations had "largely succeeded" in opening their economies to international financial flows. Some investors had hoped Greenspan might expand further on remarks he made two weeks ago when he signaled the Fed may consider cutting key rates in response to the global turmoil.