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To: SJS who wrote (5066)	11/4/1998 12:12:00 PM
From: Alias Shrugged	Respond to of 14427

Hi Steve I think you covered all of the bases. =============== Fear and Greed. They have always raged a fascinating battled. But, what's this??!! All the forces of evil, er..All the finance ministers of the G8++ countries have waded deeply into the battle, declaring that the forces of fear were to be combatted, stifled, controlled...eliminated. Billy C. has walked to the edge of the beach and commanded the tides to obey him. Greed havin' a good time lately (drinking LOTS of dat Schlitz), seein' as how Fear is sitting in the corner havin' a "time out." Lord help us and preserve us. So, why is gold up today? Mike

To: SJS who wrote (5066)	11/4/1998 12:34:00 PM
From: Lucretius	Respond to of 14427

how 'bout: Uncle Al is dropping money on his favorite buddies (G)

To: SJS who wrote (5066)	11/4/1998 12:40:00 PM
From: Dragon 1	Respond to of 14427

Yeah, I guess they are all good news but they are all out. As a matter of fact, those seven pieces of news you listed could be wiped out into oblivion overnight by one tiny, say a bad earnings report, or a single remark by a Streeter. This has happened time and often. The more insanely the market behaves, the heavier the drop is going to be. While every mom and pop is cheering, it is the time the Fed is worried to death. What the hell is it gonna do now? Put yourself in Greenie's shoe, what are you going to do now? It's like riding on the back of a tiger. Are you going to keep riding or dismounting? Either way you are going to get eaten alive; it's just a matter of time.

To: SJS who wrote (5066)	11/4/1998 2:08:00 PM
From: psyched	Respond to of 14427

Yes, 1 more item, Steve, but likely to be ignored in this market: Russia to default on next year's debt, finance official says 11.42 a.m. ET (1642 GMT) November 4, 1998 By Anna Dolgov, Associated Press MOSCOW (AP) — Russia will not be able to meet its foreign debt obligations next year and will be forced to ask to restructure its payment schedule, the nation's top finance official said today. It was the first time the government acknowledged that it will not be able to pay next year's huge foreign debt. The government had indicated they might not be able to pay off all of this year's remaining debt, but had given no sign they would have trouble with next year's. But First Deputy Prime Minister Yuri Maslyukov said today that Russia's debt payments, totaling $3.5 billion this year and $17.5 billion in 1999, "are too much for our weakened economy.'' "Either we have to take extraordinary measures for squeezing out this money from all spheres of the economy or agree on a restructuring of our debt,'' he said. "We are choosing the second path.'' Maslyukov also said the government will try to minimize its plans to print rubles to plug the budget gap for this year and next. Meanwhile, former Prime Minister Sergei Kiriyenko said today that Russia has squandered its prospects for international aid by approving a vague and contradictory economic plan. "There is no chance of receiving money from the West,'' Kiriyenko told the Interfax news agency. "Credits will be provided only for a clear, concise, consistent plan of action that would show that the Russian budget can receive more money than it spends.'' The International Monetary Fund has held up approval of the next installment of its loan to Russia, saying it wants to see a clear economic plan that met its criteria. Prime Minister Yevgeny Primakov's Cabinet approved a plan last weekend that proposes greater government intervention in the economy while still promising to keep to a path of market-oriented reform. The plan is unclear, Kiriyenko said, and charged that it is in fact intentionally murky as part of a strategy to encourage political stability by not offending any faction. Kiriyenko was fired in August after he effectively devalued the national currency, the ruble, and placed a moratorium on repaying foreign loans — tipping an already troubled economy over the edge into crisis. He has consistently defended his government's actions, and has been increasingly outspoken in criticizing his successor. An official with the European Bank for Reconstruction and Development was quoted today as saying the EBRD does not plan to loan any money this year to restructure the Russian banking system. There had been speculation that it might. Neil Parison, head of the bank's office in Moscow, told Interfax that any assistance from the EBRD, the Group of Seven industrialized nations or the World Bank would depend on the Russian Central Bank's program to restructure the system. comments@foxnews.com © 1998, News America Digital Publishing, Inc. d/b/a Fox News Online. All rights reserved. Fox News is a registered trademark of 20th Century Fox Film Corp. © 1998 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Happy trading all!