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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (16821)	10/22/1998 11:36:00 AM
From: IceShark	Respond to of 18056

It's a Spin-Meister world we live in. Hi Jack. Yup, I'm sure we must have been through major spin control before, as in the wars, but when you get down to defining a BJ as not sex, I guess we have reached new lows. So here we sit on a sand dune which is being built up or eroded, depending on your point of view. So, I will be a prudent Kodiak. -g- I wish I could find some bed rock - what is a little IceShark to do? I'm glad you Canucks have kept the thread alive after MoMo's bird flew the coop, or more likely, got served for dinner. The thread digs up some pretty interesting articles. Although I'm not sure if using one's brain will help one much these days. -g- Regards, IS

To: John Hunt who wrote (16821)	10/23/1998 6:13:00 AM
From: John Hunt	Respond to of 18056

The Wizard of Fed gold-eagle.com << Last week the Fed made its celebrated preemptive strike on the financial markets by lowering the Fed funds rate by ¼%. The timing of the cut, coming after bond futures had closed and the day before the expiration of October equity options had all the hallmarks of a classic short squeeze. The fact that it was widely applauded in the financial press demonstrates that manipulation has become the status quo in what currently passes as a financial system. >> << It is significant that LTCM was widely believed to be short 300 tons of gold and that the price did not explode when the bullion price rose above $300. This was reported to be because of a central bank's willingness to allow the new owners of the firm, the largest investment banks and brokers on Wall Street, out of the trade. In fact, Alan Greenspan said in testimony to Congress on the issue of CFTC supervision of the derivatives market, "Nor can private counter parties restrict supplies of gold, another commodity whose derivatives are often traded over the counter, where central banks stand ready to lease gold in increasing quantities should the price rise." (Italics mine.) His willingness to state that central banks would increase lending on any price rise demonstrates that central bankers still regard the price of gold as a barometer of faith in the financial system as it is presently constituted. >>

To: John Hunt who wrote (16821)	10/23/1998 6:20:00 AM
From: John Hunt	Read Replies (2) \| Respond to of 18056

Take Your Pick Bankers Trust and Nomura Post Big Losses washingtonpost.com << The eighth-largest U.S. bank and Japan's biggest brokerage firm reported staggering losses yesterday, providing fresh evidence of how the global turmoil in the securities markets has left financial companies reeling. >> Is Worst of Global Crisis Over? washingtonpost.com << The global financial crisis, which a few weeks ago seemed spiraling out of control, has suddenly eased on a number of fronts -- raising the tantalizing prospect that its worst period may have passed. >> Sounds like 'Is the glass half-full or half-empty?'