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To: Zardoz who wrote (25943)	1/11/1999 8:22:00 PM
From: Enigma	Respond to of 116791

Hutch - stick to your knitting - or else have you found something else to (vainly, as in 'in vain') crow about: " Gee Euro took down another notch today as well.... That 1.10 Feb 1 is looking on track". Gee it's snowing hard here - looks like it will never stop, bet we have more snow than you do - so there! E

To: Zardoz who wrote (25943)	1/11/1999 8:50:00 PM
From: goldsnow	Respond to of 116791

en jumps, bulls ready to run at sign of BOJ 04:42 p.m Jan 11, 1999 Eastern By Chizu Nomiyama LONDON (Reuters) - The yen stampeded to its highest level in more than two years against the dollar Monday, but traders grew wary of provoking the Japanese central bank into pushing the yen down. The yen's gain of 2 percent Monday to a 28-month high was the latest leg of a rally that began in early December. Investor eagerness to buy Japanese government bonds, whose yields have doubled in the past month, fueled flows into the yen. On the other side of the equation, worries about Brazil's economy put pressure on the dollar. ''We are now at a level where the Bank of Japan would be justified in expressing its displeasure at developments, either through direct intervention or by dollar buying from semi-governmental institutions,'' said Rob Miniken, currency strategist at Citibank in London. The dollar slid to 108.58 yen, a fall of almost 5 percent from a week ago. The mood among yen bulls alternated between confidence and nervousness as they drove dollar/yen lower and then shied away as they envisaged a backlash of yen sales from the BOJ. ''People are now starting to get the feeling that the fall in dollar/yen is a bit overdone,'' one trader at a British bank said. ''They're keeping an eye out for the BOJ, of course, although they're not all that worried. If it did come in, it would just give the market something to sell into.'' The market was now eyeing the 105-yen level as the next goal with some analysts citing the key 100 figure. Top-level Japanese officials have started to send warning signals about the recent gyrations in the currency market. On Monday, Vice Finance Minister Koji Tanami said Tokyo would take ''appropriate measures'' in the event of drastic fluctuations and said excessive moves would be unfavorable. Still, many analysts said it was unlikely the Bank of Japan would jump in to sell yen now. ''Obviously the BOJ is going to be concerned and there is a possibility of their coming in at 105, and that level will probably be the market's target in the short term,'' James Mitchell, senior strategist at Nomura International, said. ''We've had several Japanese officials mentioning a range of 110 to 120 recently. It's hard to pinpoint an exact target like that in the foreign exchange market, and a few yen should not be much of a concern for the authorities.'' While the yen has shot higher in recent days, analysts noted it was still near the middle of the range it has seen over the past four years. In April 1995, dollar/yen went as low as 79.70, while in August last year it reached a high of 147.63. Nor is dollar/yen moving at the breakneck pace it showed in October, when the dollar fell a stunning 17 percent in three days. Traders still look back on those few days with a shiver, but there was no sign of intervention then. ''They (the Bank of Japan) have never had a currency target. They've let dollar/yen go down to 80 in the past so you can forget about intervention at this stage,'' said Peter von Maydell, currency strategist at Credit Suisse First Boston. Such a slide in dollar/yen seems puzzling because Japan's economic situation remains dire. The economy has been in recession for four straight quarters and is suffering from an ailing financial industry. Analysts say there that dollar weakness is part of the equation. Copyright 1999 Reuters Limited.

To: Zardoz who wrote (25943)	1/12/1999 6:55:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116791

ughh, I wonder if everyone here(on both sides) is breaking this law?: January 1999 <Picture: Keep Speech Free -- No Regulation!> The American federal government is at it again. Their Commodity Futures Trading Commission, or CFTC, has decided that any American who offers advice -- or even reprints someone else's advice -- regarding commodities must be registered with them as a "commodity trading advisor". They've decided that even if an American simply offers his or her opinion on commodities by e-mail or on a web page, that that person must be fingerprinted, pay a fees, file reports with them, and be subject to periodic and on demand audits. They've declared that they intend to keep watch on the Internet to find violators. As an American, I've observed one attempted free speech restriction after another here in the land of the fee and the home of the slave. This one's a real two-fer: silencing free speech while regulating the Internet. Nice trick. Here's my personal response: I am not a registered "commodity trading advisor" and I never will be. Nevertheless I publicly state the following commodities opinion: Since United States savings bonds require taxation to support their payoff on being cashed out, they should more accurately be called "extortion futures" and no one should invest in them. If there isn't a February update for Economic.net you'll know they kicked in my door. In the meantime, if you'd like more information, click here or on the "Keep Free Speech" graphic above. It links to the Institute for Justice, an organization that spends a lot of time conducting holding actions by suing local, state, and federal governments in United States courts, but they also do truly fine work taking cases to the court of public opinion. Meanwhile, here at Economic.net on our Don't Vote! page you'll find a response to Alvin Lowi, Jr.'s No Conceivable Reform complete with Lowi's answer. Check it out! We also have A Libertarian's New Year's Resolutions. The Libertarian in question is Harry Browne, and while we may disagree with his political means he's written a piece here that many throughout the freedom movement will find valuable. We respond to the recent Western attacks on Iraq not only by proclaiming "Cry havoc and let wag the dogs of war!" but also by reprinting Mark Twain's The War Prayer, which sadly is as relevant a piece of satire today as it was a century ago. Finally, we've completed the first phase of The Grid. What I mean by this is that each and every intersection now has at least a brief entry. The second phase, which we hope to complete in time for the lights to go out when Y2K hits, is to dramatically increase the information for each entry, including documented evidence of historical examples that support our claims. Peace and Prosperity in the New Year, <Picture: /s/> Stephen H. Foerster Chair economic.net