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To: goldsnow who wrote (22173)	10/23/1998 12:10:00 AM
From: jgibbs	Respond to of 116759

I'll leave it to Hutch to explain the ramifications of the M-2 increase and the POG. NEW YORK, Oct 22 (Reuters) - U.S. M-2 money supply rose $600 million in the October 12 week to $4,315.8 billion, the Federal Reserve said. The broader M-3 measure rose $12.5 billion to $5,807.2 billion. M-1 was down $16.3.billion to $1,063.6 billion, the Fed said. The Fed said the four-week moving average of M-2 was $4,310.5 billion versus $4,303.7 billion in the previous week.

To: goldsnow who wrote (22173)	10/23/1998 12:23:00 AM
From: PaulM	Respond to of 116759

"We are looking at a weaker dollar and a stronger Euro" biz.yahoo.com

To: goldsnow who wrote (22173)	10/23/1998 6:28:00 AM
From: Alex	Respond to of 116759

Socialist Germany Spats with European Central Bank ECB warns against target zones for the euro and the dollar The European Central Bank on Thursday clashed with the new German government over the exchange rate policy of the euro, the new single currency. Wim Duisenberg, president of the European Central Bank, warned that target zones for the euro, the dollar and the yen were "not desirable" as a way of controlling currency turbulence. Meanwhile, Oskar Lafontaine, German finance minister-designate, reiterated his support for target zones. Speaking at a meeting with Dominique Strauss-Kahn, the French economy minister, in Saarbrücken, Mr Lafontaine said: "We need stabilisation of the exchange rate of the large industrial countries, especially between the dollar and the euro." Signalling his hostility to Mr Lafontaine's plans, Mr Duisenberg said international capital movements had grown hugely since the collapse of the Bretton Woods system of fixed but adjustable exchange rates in the early 1970s. This limited the capacity of central banks to control exchange rates. Mr Duisenberg admitted that co-ordination of central bank policies had helped control exchange rates at various times since. But these were ad hoc measures. The ECB president said he felt "a great disquiet" about the effects on price stability of generalised exchange rate accords. Although Mr Duisenberg did not mention Mr Lafontaine by name, his remarks suggested that relations between the Bonn finance ministry and the ECB were likely to be strained. Mr Lafontaine and Mr Strauss-Kahn underlined the shift in perspective in European Union policymaking now that the two countries at the heart of the euro project have left-of-centre governments. Welcoming what they called "a new chance" and "a new phase in Franco-German co-operation", they said job creation started first of all with the need to improve growth. Mr Lafontaine also called for tighter controls on the activities of banks and hedge funds but gave no specific details. Mr Strauss-Kahn said: "Our common will is the need to put in place a policy of growth in European to fight against unemployment." However, speaking on the same day that the Bundesbank left its benchmark interest rate unchanged at 3.3 per cent despite political pressure from the left for a reduction, the two men said they were not challenging the independence of central banks, including implicitly the ECB. "To suggest that central banks and the policies of particular governments are in opposition to each other isn't right. There is no formal opposition between the two poles," Mr Strauss-Kahn said. Mr Lafontaine observed that his freedom for manoeuvre would be restricted by EU agreements to limit budget deficits and by what he called a DM20bn (£7.2bn) hole left in the German budget by Helmut Kohl's outgoing government. However, he insisted that France and Germany still had a responsibility to pursue a strategy of growth and job creation. "We are all charged with the task of bringing down mass unemployment . . . I see no danger of inflation." The Financial Times, Oct. 23, 1998

To: goldsnow who wrote (22173)	10/23/1998 7:25:00 AM
From: long-gone	Read Replies (2) \| Respond to of 116759

re Gvn GS, Yes, but, we know that is a communist country whose ideas of a "free" market are far different form ours. Everything in the US is to be a free market, and the problem is the value of gold in US dollars. Thus, if the price of gold has been manipulated and those that have manipulated it were US concerns that showed a profit from that same manipulation LAWS WERE BROKEN! This would be even more true, if they (whoever it was that had manipulated gold) had acted in such a way as to limit investments in gold. rh