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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (38740)	10/7/1998 10:01:00 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 1578563

Paul, I don't have to predict anything...it's already happening. We've been in a bear since 8200 on the DOW. But the DOW has held up well compared to the smaller cap indices... People are running to gold stocks for reasons we haven't seen since 1929. Not out of inflation fears as in '79-'80, '85-'87, '92-'93 but more of a safe haven (lately the dollars has been)....much different. There will be a big battle between the central banks and gold... I've rarely seen the dollar drop 10 yen in a day. Will also be interesting to see if the Japanese will repatriate some of their money from our bond market. What we don't need is the resulting run up in rates to exacerbate any "recession" although this may be the beginning of a turnaround in Asia. Should be good for commodities... Jim