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To: goldsnow who wrote (19541)9/22/1998 10:56:00 PM
From: banco$  Read Replies (3) | Respond to of 116762
 
World Gold Council launches "Gold Facts" campaign; seeks to balance debate on gold. (14 September 1998)

gold.org

Looks like we will finally see better reporting of central bank gold purchases as well as their sales. The press and analysts would have us believe that it is a one way street.



To: goldsnow who wrote (19541)9/22/1998 11:00:00 PM
From: CIMA  Read Replies (1) | Respond to of 116762
 
Iranian-Afghan Crisis Escalates

The potential for Iranian intervention in Afghanistan increased
on Wednesday, September 16, when Tehran recalled the Iranian
ambassador to Pakistan, Mohammad Mehdi Akhundzadeh. According to
the Iranian "Tous" newspaper, Akhundzadeh met with Pakistani
Prime Minister Nawaz Sharif before departing for Tehran. Also on
the 16th, the Voice of the Islamic Republic of Iran charged that
Pakistani officers were directing Taleban operations in Bamiyan
province, and Pakistani troops were involved in clashes around
the city of Bamiyan. Until it was recently captured by the
Taleban, Bamiyan was the stronghold of the Iranian-backed, Shiite
Hezb-e-Wahdat. Iran has charged that the Taleban are massacring
Shiites as they consolidate their hold of the city.

The Afghan representation to the UN, which is controlled by the
ousted government of President Burhanuddin Rabbani and the anti-
Taleban alliance, issued a statement on September 17, charging
that eight Pakistani bombers had attacked Bamiyan on September 12
and 13. According to the Iranian news agency "IRNA," the
statement stressed that "Pakistan is the occupier of Afghanistan,
and all responsibilities of the war crimes rests in Islamabad."

In Tehran, on Thursday, September 17, Iranian Foreign Minister
Kamal Kharrazi lashed out at his Pakistani counterpart, Foreign
Minister Sartaj Aziz. After Aziz offered his condolences on the
deaths of Iranian diplomats in Afghanistan, and offered
Pakistan's assistance in recovering the remaining bodies,
Kharrazi said resolution of that issue was among the least of
Tehran's concerns. Kharrazi said the situation in Afghanistan
harmed Iran's national interest, and insisted that "alleviation
of the current tension and its prevention from further escalation
requires political resolve and practical steps by the Pakistani
government."

Kharrazi noted "relations between the two countries [Iran and
Pakistan] is deteriorating, and there is significant pressure on
the Iranian authorities to resort to military means to avenge the
crime. There is a limit under which the pressure can be borne;
however, it is clear that practical steps need to be taken by
both Pakistan and the Taleban that would help ease off pressure
and decrease tension in the relations."

Aziz received a similar treatment from Iranian First Vice
President Hassan Habibi, who listed Iran's grievances with the
Taleban, citing "criminal acts against Iranian diplomats and
citizens, and acts of genocide against Afghan defenseless,
innocent, and suffering people, and its brutal acts against
mankind and Islam." He called insecurity along the Iranian-
Afghan border "unacceptable," and called for the establishment of
a broad-based government in Afghanistan.

Iran has given Pakistan a stern warning that it has one last
opportunity to rein in the Taleban, or Iran will be forced to
act. Whether or not Pakistan still holds enough sway with the
Taleban to do so is dubious. While Pakistan launched and
supported the Taleban movement, and still provides it with direct
military assistance, the Taleban have developed a momentum of
their own. With the majority of Afghanistan under Taleban
control, it is doubtful that they would suddenly and willingly
withdraw and enter into a coalition government. The Taleban
philosophy is not based on compromise.

With few options for Pakistan, the question remains how the
remainder of the region's players line up. While condemning the
Taleban's actions, India has said it prefers a diplomatic
resolution of the crisis, saying Iranian military action would
only increase tension in the region. The United States has also
called on Afghanistan's neighbors not to intervene militarily,
though ironically timed and themed Partnership for Peace
exercises will begin on September 22 in Uzbekistan. The week-
long exercises, involving troops from the U.S., Russia, Turkey,
Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, and
Uzbekistan, will deal with how to "escort vehicles carrying
humanitarian aid, help refugees, and provide medical assistance
under warlike conditions," according to Uzbek officials.

Foreign and Prime Ministers, and other high ranking officials
from the U.S., Russia, China, Iran, India, Pakistan, Tajikistan,
Turkmenistan, and Uzbekistan are scheduled to take part in a
discussion of the Afghan crisis on Monday, September 21, at UN
headquarters in New York. What they hope to achieve is unclear.
The Taleban have now called for UN mediation of their dispute
with Iran, but neither side appears ready to negotiate, and the
UN has approached the request cautiously. With no prospect of a
physical intervention by the UN in Afghanistan, and the Taleban
unwilling to moderate their behavior, the UN's only prospective
role is as a Taleban tool to delay an Iranian intervention.

Iranian-Pakistani relations are rapidly deteriorating, the
Taleban are unlikely to alter their course, time is running out
for an Iranian military option, and there are few other options
on the table. The question, then, is this: Will the ministerial
meeting at the UN discuss alternatives to an Iranian
intervention, or the results of the Iranian intervention?

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To: goldsnow who wrote (19541)9/23/1998 4:06:00 AM
From: Alex  Read Replies (2) | Respond to of 116762
 
Oil chiefs reportedly to meet for world summit

Copyright c 1998 Nando.net
Copyright c 1998 The Associated Press

LONDON (September 23, 1998 00:55 a.m. EDT nandotimes.com) -- Heads of some of the world's biggest oil companies plan to meet in Europe next week to discuss such topics as the slump in crude prices and the growing global economic uncertainty, the Financial Times reported Wednesday.

The summit of about 20 companies is thought to be the first time in recent years that oil industry chief executives have assembled informally for talks on the future of the sector, the newspaper said.

The Financial Times report did not specify where in Europe the talks would be held. According to an unnamed organizer of the event, a senior U.S. energy lawyer has been invited to the summit to head off any suspicion that the oil giants intend to carve up markets or engage in price-fixing.

The high-level talks follow British Petroleum's announcement last month that it will take over oil giant Amoco Corp in a $53.9 billion deal that would be the biggest industrial merger in U.S. history. The proposed marriage is currently being scrutinized by the U.S. government for its implications for competition in the marketplace.

Companies expected to participate in next week's summit include some of the biggest oil groups, including the Royal Dutch/Shell Group, BP, Chevron Corp., Elf Aquitaine Inc., Total SA and ENI.

Several of the largest state oil and gas groups, such as Saudi Aramco, the world's biggest oil producer and exporter, and Statoil of Norway, also plan to take part, along with the chief executives of several leading independent oil companies, the newspaper added.

Russia will be represented by Gazprom, the country's biggest company and its largest single source of hard currency.

The Financial Times quoted an unnamed senior European oil industry executive as predicting that more big deals could result from the gathering. "Everybody is on the prowl," he said.

Royal Dutch-Shell offered a gloomy assessment of the oil business last week, predicting depressed oil prices won't recover any time soon, with the market glutted even as the ripple effects of the Asian economic crisis.

Crude oil prices have plunged this year to levels unseen in a decade.

The collapse started in the winter, when OPEC started pumping more oil just as the effects of the Asian economic crisis began choking off demand.

OPEC has since said it would cut back production but its various members have not lived up to their commitments -- leaving all producers stuck with low prices.

Besides discussing crude prices and the global economy, the oil industry chiefs are expected to debate a wide range of other issues, including growing environmental pressures and the impact of new technology, such as fuel cells, the Financial Times reported.