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To: Don Green who wrote (20527)	10/3/1998 4:21:00 PM
From: Gabe Heti	Read Replies (1) \| Respond to of 116756

Sounds pretty positive to me, except for the journalist herself. All those quoted seem to see gold rising.

To: Don Green who wrote (20527)	10/3/1998 6:17:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116756

RE barrons anti-gold article - so were they in on the conspiracy along with LTCM, Bank of Italy, USB, ML GS .......? rh

To: Don Green who wrote (20527)	10/3/1998 8:55:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116756

G7 Warns Of Mounting Risk From Global Turmoil 08:03 p.m Oct 03, 1998 Eastern WASHINGTON (Reuters) - Financial leaders from the Group of Seven major industrial nations said Saturday the financial crisis sweeping the globe posed a mounting downside risk to their economies and vowed to work together to promote growth and financial stability. In a statement released after a meeting of G7 finance ministers and central bankers here, the leaders pledged to cooperate in foreign exchange markets as appropriate and called on Japan to take ''swift and effective'' action to clean up its debt-ridden banking sector and boost its dormant economy. ''Financial market conditions have deteriorated in many parts of the world, leading to a further weakening of growth prospects, especially in most emerging market countries ... In this context, we reaffirmed our view that the balance of risks on a global basis has shifted,'' the G7 statement said. Noting that inflation is conspicuously low, the group said lack of economic vitality in Asia and elsewhere ''poses increasing downside risks to economic activity.'' Participants reemphasized their commitment to create or sustain strong domestic-demand-led growth and financial stability in their economies. ''In this context, we noted the importance of intensified cooperation among us at this juncture,'' the group said. The G7 said the United States, Canada and Britain should take ''appropriate action'' to sustain growth, and said it was important that European nations implement structural reforms and reduce their high unemployment rates. The G7 also expressed concern about the flight of capital from emerging markets and agreed to explore President Clinton's plan to provide ''contingent finance'' through the International Monetary Fund to cash-strapped nations, giving them easier and faster access to fresh capital in times of crisis. Copyright 1998 Reuters Limited

To: Don Green who wrote (20527)	10/3/1998 10:00:00 PM
From: Edmund Lee	Read Replies (2) \| Respond to of 116756

I now learn to listen and analyze "expert opinion" after paying over $200,000 by following so call "expert advice". BXM is one of those.

To: Don Green who wrote (20527)	10/4/1998 9:58:00 AM
From: Mark Bartlett	Respond to of 116756

Don, << But their knee-jerk reaction ignores the fact that we seem to be looking at an outbreak of deflation, not inflation.>> This tells me that Cheryl Strauss Einhorn has not looked very closely into the history of gold movement ... gold has always performed well in times of both inflation and deflation. That is not to say this present gold upswing is the real thing - nobody knows that for sure - but to start an article with incorrect information does little for her credibility ..... bottom line - she may be right about this gold run - but for the wrong reasons. In addition - her premise of the supply of gold being plentiful is correct IF YOU INCLUDE WHAT THE CENTRAL BANKS OWN. Presently the central banks appear to be in no mood to cheaply lease their gold - fact it most are likely owed plenty now they still have to collect on. I still suspect that there are lots of short brokerage houses out there short gold - but who really knows for sure .... that's what it is all about - bit of a pea and shell game. But that being said, the lease rate of gold over the last couple years, combined with the temptation for brokerage houses to borrow, sell and reinvest in higher interest bearing instruments, IMHO was likely too much for them to ignore. Have a good one, MB

To: Don Green who wrote (20527)	10/4/1998 5:07:00 PM
From: goldsnow	Respond to of 116756

Intl Monetary Fund's Camdessus Says World Economic Risks 'Unusually Large' IMF's Camdessus Says Risk to World Economy 'Unusually Large' (For a special report on the IMF and World Bank annual meetings, type: GEIG .) Washington, Oct. 4 (Bloomberg) -- Michel Camdessus, managing director of the International Monetary Fund, said the ''downside risks to the world economy are unusually large,'' citing Japan's banking crisis and investors' retreat from emerging markets. Japan's failure to act quickly and forcefully to clean up its banking system could ''further erode confidence and fuel financial turbulence,'' Camdessus told the IMF's Interim Committee, a panel that advises the fund on policy. Camdessus voiced some optimism that the financial trouble in emerging markets might soon subside and said ''global economic growth need slow only moderately and temporarily.'' He said the U.S. and the European Union have the ''flexibility'' to cut interest rates, ''which could make a significant contribution to restore calm in financial markets.'' He praised the U.S. Federal Reserve for its decision last week to reduce a key interest rate, the federal funds rate. Camdessus' remarks come days after the IMF lowered its projection for world economic growth to 2 percent this year, from the 3.1 percent it forecast in April, and said Asia's emerging market financial crisis has proved ''considerably worse than previously thought.'' The IMF expects the U.S. economy -- which generates more than a quarter of world output -- to grow 2.0 percent in 1999, and the European Union to grow by 2.5 percent. The EU economy grew 2.7 percent in 1997. The IMF semi-annual report follows a call Wednesday by the World Bank for East Asian countries to reduce interest rates to ease the credit crunch in the region. The IMF projects that Japan's economy will contract 2.5 percent this year, accounting for much of the slowdown in growth. IMF officials want Japan to jump-start its economy and overhaul its banking system to clean up more than 77 trillion yen ($520 billion) in bad or risky loans. bloomberg.com