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To: Terry Swift who wrote (25974)	1/12/1999 7:43:00 AM
From: Hawkmoon	Respond to of 116795

Y'know Terry, what amazes me is that AG worries so much about an equity bubble, but seems to be avoiding the one control they haven't exercised to any great extent. That control is the ability to adjust margin rates and criteria. Several brokerages have made margin requirements quite stringent for the high-flying internuts in order to "protect" their customers from massive margin calls. Seems to me if you want to take the steam out of the market, deflate the margin bubble and force people to invest solely on a cash basis. Of course I realize that my solution is overly simplistic and probably overlooks other methods where margin restrictions could be circumvented (such as buying stocks using your credit card) or just borrowing money from a lender and investing it. However, it would go far toward re-establishing sanity in the markets while still permitting the Fed to perform economic triage on the discount and funds rate. Any economists out there willing to lend their opinion on this issue?? Regards, Ron

To: Terry Swift who wrote (25974)	1/12/1999 10:44:00 AM
From: Alex	Respond to of 116795

U.S. dollar policy "absolutely" unchanged -Rubin WASHINGTON, Jan 12 (Reuters) - Treasury Secretary Robert Rubin said on Tuesday the U.S. administration's dollar policy was unchanged and that a strong dollar has served the U.S. economy well. ''If you are asking me about the dollar, I'll just repeat what I've said so often, which is that a strong dollar has served us well and our dollar policy remains absolutely unchanged,'' Rubin told reporters after a breakfast meeting with Argentine President Carlos Menem. (Note: this article is ''in progress''; there will likely be an update soon.) biz.yahoo.com

To: Terry Swift who wrote (25974)	1/15/1999 12:33:00 AM
From: Bob Dobbs	Read Replies (1) \| Respond to of 116795

Terry - The idea of gold stocks tanking with the general market has concerned me. <<they could be the pin that pops this equity bubble we've been in for some time now. If that happens, I expect the gold stocks will be taken down with the general market, at least in the short term.>> I wanted to ask you further what you thought about the vulnerability of gold stocks to a market downturn. It's my thought that most gold stocks are either a speculation FOR a crash or a hedge for a conventional portfolio AGAINST one, and as such, are in relatively strong hands. These could also be pure value plays, in which case the owners are in it for the long term. I don't think a general market crash will result in excessive gold bullion sales, either, as Westerners have largely disinvested over the past two decades - investment demand for bullion has only picked up in the West recently, and again, those holding it have strong hands. Your thoughts, oh wise one. Bob