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To: goldsnow who wrote (26293)	1/15/1999 8:11:00 PM
From: Bill Murphy	Read Replies (1) \| Respond to of 116764

goldsnow, Nicely written piece. Comrehensive subject and what I do all day, so I will express one thought. The psyche is one way today. And could very easily shift. Bottoms of markets are made when most think the same way. Most of the pro analysts think the same way. Defaults are coming. The credit spreads are widening. Liquidity will dry up - a credit crunch is on the way. The dollar will be stoned. The greed of today will be the fear of tomorrow. Gold will go from the outhouse to the penthouse. At least, I think so. Bill

To: goldsnow who wrote (26293)	1/15/1999 9:13:00 PM
From: lorne	Read Replies (1) \| Respond to of 116764

MOSCOW, Jan. 14, 1999 -- (Reuters) Russia's State Duma lower house of parliament rejected a bill that would have scrapped value-added tax at a rate of 20 percent on sales of gold ingots and coins to individuals, Russian news agencies reported. They said only 194 deputies voted for the bill, with 19 votes against and two abstentions. For the bill to be passed 226 votes were necessary. Scrapping VAT could have increased gold's popularity as a savings instrument and paved the way for the government to start minting gold coins. Russian individuals are allowed to buy and sell gold ingots and coins but they have to pay VAT at 20 percent on buying them. Banks that repurchase gold do not refund the VAT already paid. ( (c) 1998 Reuters) russiatoday.com

To: goldsnow who wrote (26293)	1/16/1999 5:17:00 AM
From: Alex	Respond to of 116764

1/15/99 - Indonesia"s Gold Jewelry Exports Surge <Picture> JAKARTA (Jan. 16) XINHUA - Indonesia"s gold jewelry exports have recorded a significant increase during the country"s 18-month economic crisis as many traders have shifted their markets overseas due to low demand at home, national newspapers reported Saturday. In 1996 total domestic demand for gold jewelry reached 130 tons while exports stood at zero. In 1997 domestic demand dropped by 30 percent to 92 tons while exports increased to 25 tons. "In 1998 domestic demand reached only around 40 tons while exports increased to 30 tons," said Leo Hadi Loe, country manager of the World Gold Council. Many people have even sold their gold jewelry to benefit from the sharp increase in the price of gold from the impact of the collapse of the local currency, the rupiah, against the U.S. dollar, he said. Leo predicted that jewelry sales will increase this year by 10 percent in the domestic market and by 10 to 20 percent in the export market. Dubai and other Middle East countries were the biggest importers of Indonesian gold jewelry, followed by Hong Kong, Singapore and the United States. Leo said the World Gold Council"s recent survey in four crisis-racked Asian countries -- Indonesia, Thailand, South Korea and Malaysia -- shows that people still considered gold a good investment during the crisis. Demand for gold in the crisis-hit Asian economies is predicted to revive this year as it played an important role during the economic crisis for people in those countries, he added. Enditem =01160110 16/01/99 01:23 GMT