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

To: Terry Rose who wrote (21072)	10/7/1998 10:14:00 PM
From: PaulM	Read Replies (2) \| Respond to of 116791

Terry, quite a currency, this dollar. The price of a Toyota went up 10% at one point today. (Well, OK, not if its made in the U.S.) But I wonder if anyone realizes the implications of what's going on. Since I don't see overwhelming pro Japanese sentiment, the unwinding of a short position seems the only explanation. I suspect that before gold positions are unwound, we'll see some weird antics from the usual suspects. Lots of negative gold news to come. Wound't surprise me a bit if Greenspan soon suggested the U.S. should sell gold. Or that someone else should. Or that gold causes heart disease.

To: Terry Rose who wrote (21072)	10/8/1998 7:01:00 PM
From: goldsnow	Respond to of 116791

He described the recent blowout in interest rate spreads as being a phenomenon that he had never seen before. While he said that the flight to quality, liquid assets such as US Treasury bonds had made it difficult to raise funds in many other markets, but said the US was not experiencing a credit crunch. But Dr Greenspan said that the spread would widen further, saying it was an "incomplete adjustment" and that estimates of corporate earnings were unbelievable. afr.com.au