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To: goldsnow who wrote (23349)	11/23/1998 10:18:00 PM
From: Terry Rose	Read Replies (1) \| Respond to of 116753

goldsnow, I bought some more 12-99 S&P 500 puts today which are becoming quite cheap. I am staying put with my gold stocks. The reason I am posting is the comment my broker made today after concluding the transaction. He said good luck. This is a first for me and reminds me of my trips to various gambling casinos where when you buy chips they say good luck. Terry,

To: goldsnow who wrote (23349)	11/24/1998 2:13:00 PM
From: Alex	Read Replies (2) \| Respond to of 116753

Asia warned to take stock in midst of Euro rush By GEOFF HISCOCK and ALAN WOOD 24nov98 EUROPE'S readiness for the Euro single currency regime, due to start on January 1, was called into question yesterday by Hong Kong Monetary Authority chief executive Joseph Yam. Mr Yam, who last night delivered The Australian's Inside Asia lecture in Sydney, said the question for 1999 was whether Europe had done everything to put an efficient infrastructure in place. This was a reference to financial management systems for the flow of money and information. Even so, he said Asia should look at the European experience and think about increasing monetary co-ordination and stability in the region. This was not necessarily a single currency, but something that took account of the high level of intra-Asian trade. "It is time to throw up these ideas," he said in an interview with The Australian yesterday. "It may be a non-starter because Asia is geographically fragmented and may lack the political will, but we need to consider this so we won't become a two-currency world of the Euro and the US dollar." Mr Yam, the architect of Hong Kong's controversial $US15 billion ($23.4 billion) intervention in its stock market last August to deter speculators, said he saw Asia's economy bottoming in the first half of next year. But this depended on a range of external factors, including developments in the US, Europe, Brazil, Russia and Japan. He foreshadowed a world where there was no room for small economies to be "loosely pegged" to another currency, such as the US dollar. Currencies either would be free-floating, as in Australia and New Zealand, or adopt the currency board model used by Hong Kong. Mr Yam said China's Hong Kong autonomous region had the right system but needed to better explain its actions. "There is no change to Hong Kong's way of business, no fundamental change to our philosophy. We are living through unusual times," he said. Mr Yam said while the Hong Kong Government was showing a book profit of $US4 billion on its August share purchases, its intention was not to make a profit but to deter manipulation by the hedge funds. "It's done. I didn't like it at the time. But if Hong Kong is pushed into controversial intervention, is there something wrong with the transparency, disclosure requirements and regulation of leveraged funds?" he asked. A taskforce within the Hong Kong Monetary Authority had the job of suggesting possible reforms for the world's financial system "as soon as possible". The main forum was a coming meeting of the G22 group of developed and developing nations. Mr Yam said the authority was looking at how best to manage Hong Kong's reserves. It might decide to hold some of its reserves permanently in blue-chip equities, although the current 15 per cent level for equities "may be too much". Mr Yam rejected the view that the Government's intervention in August meant the Hong Kong share market was now too thinly traded. "Turnover has gone up since our intervention. It is still liquid," he said. theaustralian.com.au

To: goldsnow who wrote (23349)	11/25/1998 11:11:00 PM
From: Pete Young	Respond to of 116753

Anyone heard of this: Big Brother Banks? FDIC has snooping plans Are you a potential criminal? Are you a threat to banks, airlines, a potential spy, or perhaps an IRS tax protester? The government would like to know and they are about to force banks to be their detectives. The federal government wants banks to investigate you. Soon your banker will know more about you than anyone else in town. Banks must not only determine your correct identity, they must also know how you make your money, and how you spend it. Once you establish a pattern of deposits and withdrawals, banks must inform federal agencies when you deviate. Bank customers may soon find themselves explaining to the FBI, Internal Revenue Service, and the Drug Enforcement Agency why they made a $15,000 deposit to their bank account. According to current Federal Deposit Insurance Corporation plans, banks will soon establish "profiles" of their customers and report deviations from those profiles. If you sell a car, for example, and place the proceeds in your account while you shop for a new one, a red flag may go off in the bank computer. Such a situation puts law abiding citizens in a situation where they must prove they are innocent, says Scott McDonald of the watchdog group Fight the Fingerprint. An uproar from grass roots Americans is the only thing that will stop the current plans for the FDIC "Know Your Customer" program, according to McDonald. more: worldnetdaily.com