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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (2968)	1/9/1999 12:56:00 PM
From: banco$	Respond to of 82220

"Weak dollar could fire up inflation-Fed's Kelley" biz.yahoo.com George, The Fed more or less stated they'll act in interest of the stock market. Didn't they also remark about two years ago about taking action to reign-in the market if it continues running wild? I thought that is what we heard prior to the sell-off last summer. Looks like they're changing their tone again. Regards, banco$

To: Crimson Ghost who wrote (2968)	1/9/1999 1:04:00 PM
From: Tom Byron	Read Replies (1) \| Respond to of 82220

This weeks Barron has an article on "the gold glut". Was posted at Kitco (http://www.kitco.com) this morning by Speed at 9:29 am. (for those who might be interested in viewing)...No need to register if one wishes to view comments at Kitco.

To: Crimson Ghost who wrote (2968)	1/9/1999 3:36:00 PM
From: Bill Murphy	Read Replies (3) \| Respond to of 82220

George, I know you will get this, but I thought it would be a good way to respond. I agree with you, but think the day is very close at hand. bill Charles Peabody has served commentary at the Hemingway Table. We have had this piece for a couple of days and have been trying to get the graphs and charts to come up properly on the Hemingway Table. We are still working at it and I will notify you if we are able to do so. I ask your indulgence on this one. His analysis is too important to hold back any longer. On Friday, the bond market broke down completely. You will note in Charles' commentary that only he, and one other economist identified in a Wall Street Journal poll are predicting a long term interest rate with a 6% handle on it. The other interest rate calls are benign. This is compelling work. Charles has long held the view that Asia would go into a long and pronounced recession as a result of their market manipulations. He now expects credit dislocations, or defaults,in Asia that will come back to haunt U.S. institutions. He sees these problems spreading to Latin America. Nobody sifts through banking reports like Charles Peabody. He has discovered significant information that may affect the market place very soon. The major banks all have projections for the future that are based on short and long term interest rates going the same way. If they do not do that, Charles sees big banking problems on the horizon. They are not prepared for what Charles calls a "non-parallel" shift in the yield curve. In other words our Fed will step on the money juice to keep rates down, but long rates will go up. This has now begun in earnest. You know it is Midas' very strong held belief that their is a goon squad out there trying to keep the gold price down. It is led by Goldman Sachs. It did not go unnoticed to Charles that Goldman's Abby Cohen, noted Wall Street mega bull, shifted 2% of her portfolio from stocks to bonds. Bonds, not cash. It did get some heavy publicity. The wagons are being circled. The Gitic default problem in the fall in China now takes center stage Tuesday in that part of the world. Alan Greenspan heads for Hong Kong today for previously scheduled banking meetings. But, on Monday and Tuesday he is having hurried banking meetings with all the Chinese. Would it surprise you if I told you the big buyers of long term bonds on Friday were the Central Bank of China and the Saudi Arabian Monetary Authority. Midas told you on Thursday that Goldman Sachs and JP Morgan are heading up a crises risk management team. Why are announcing this now and doing so now? The stock market suggests all is blissful. We here Credit Suisse is on the ropes. Brazil is in the news as one of its states has defaulted. As result of all of this, PEABODY PREDICTS the US banks will go down 60 to 80% in value. We will have a liquidity crash. The risk spreads have not come in and that is what that is telling you. Interestingly enough - Charles is loading up on gold stocks. The last time he did so was in 1993. If you are a long time Jim Grant fan, you know that because Jim Grant wrote Charles up then as I am doing for you now. Quick access: lemetropolecafe.com Have a nice weekend and all the best, Bill Murphy Le Patron

To: Crimson Ghost who wrote (2968)	1/9/1999 6:52:00 PM
From: Zardoz	Respond to of 82220

"With Asia stabilizing and cyclical stocks in general starting to act much better, those betting on a deflationary spiral could not be more wrong. In retrospect, the failure of gold to move over $300 during last fall's stock decline was a strong signal that the market would come roaring back. This bull will not be down for the count until stocks plunge and gold soars. As long as gold is kept below $300 the fundamentals of the bull market will remain intact." Fact is that there never was ANY deflation in the USA. But since the lowering of rates, inflation will be building. BUT the reason for Gold to go much lower are still there. First realize one think: Asia is not stabilizing. Second Europe is destabilizing. Third England is imploding. The DOW will have a correction between 35%-45% around April 1 till June 1 {as an early time frame}. The problems of USA are not of their own, but shall be imported. For a first sign of the thinks to come.... watch the POUND. Second, watch the Euro currency as it approaches 1.100 Third, watch the M2 rate to go negative, and M2 to be neutral to negative. Fourth, watch the Japanese try to float a multy billion Dollar bonds that will not get acceptance in the market place. Fifth, Gold will make a run to $250 and maybe much lower. Commodities, will cascade to new lows, as oil falls to $9.00 or lower. Sixth, watch the 30yr hit 5.50%