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To: PaulM who wrote (30319)	3/19/1999 9:27:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116906

Figures, now we know these IMF type are saying one thing to one group and yet another to each other. And Clinton supports these folks? - tells us all about him. btw, found this quote by Ron, thought I'd post it so All might better know form where he comes: "Myself, I'm an environmental capitalist. I believe in the private solution rather than the public one. But I also believe in holding corporations liable for deliberate and reckless practices that lead to unecessary pollution."

To: PaulM who wrote (30319)	3/19/1999 9:53:00 AM
From: Bobby Yellin	Read Replies (2) \| Respond to of 116906

great comments! it seems like our bubble will burst shortly since money now appears to be flowing east finally..I wonder how much money is flowing east rather than concentrating in the big names

To: PaulM who wrote (30319)	3/19/1999 9:57:00 AM
From: Alex	Read Replies (1) \| Respond to of 116906

3/19/99 - Russia gold, currency reserves to decrease to dlr 10 billion. <Picture> MOSCOW, March 19 (Itar-Tass) - The gold and foreign currency reserves of Russia"s Central Bank will be reduced to about 10 billion dollars as of early April, Central Bank head Viktor Gerashchenko told reporters on Friday. According to Gerashchenko, the reserves will decrease because Bank of Russia is to provide 2.1 billion dollars to repay Russia"s foreign debts in the first quarter of 1999. Since the beginning of this year, Russia has allocated 1.5 billion dollars for the purpose. The chief banker also noted that in case no agreement was reached with the International Monetary Fund, it would have negative effect on the bank"s reserves, the country"s economy on the whole and many foreign partners of Russia. According to the data of Bank of Russia, cited by Prime-Tass, Russia"s gold and foreign currency reserves grew by 0.88 per cent to 11.4 billion dollars over the period from March 5 till March 12, 1999. However, as compared to the beginning of this year, when the reserves totaled 12.2 billion dollars, they decreased by 6.56 per cent.

To: PaulM who wrote (30319)	3/19/1999 5:07:00 PM
From: Alex	Read Replies (1) \| Respond to of 116906

Tsy's Rubin Discusses Highlights of His Tenure <Picture> By Adrian Zawada FWN Staff Writer Washington-March 19-FWN--Treasury Secretary Robert Rubin discussed the highlights of his tenure at a conference this afternoon, first citing the importance of his economic team in determining the federal government's policy. Following his speech on financial modernization at the Shorenstein Center of Harvard University, a reporter asked Rubin to remark on his achievements as Treasury secretary. "What we have done...was to create a real economic team and function as a team," Rubin said. When asked whether he had any plans to resign, Rubin repeated, for the second time, his statement, "My mind is on the issues in front of me." Rumors Rubin would soon leave his post have circulated for months. Speculation heightened, however, after it was recently learned he won't be attending a meeting of Pacific Rim economic officials in May. A Treasury spokesman earlier this week rejected suggestions that Rubin's failure to attend the Asia- Pacific Economic Cooperation forum in Malaysia indicated resignation is imminent. Observers have noted, however, that this will be the first time Rubin has not attended the annual gathering. Deputy Treasury Secretary Lawrence Summers will attend in Rubin's place. Rubin cited the debt reduction program of 1993, the Mexican peso intervention in 1996 and his strong dollar policy. He said he consistently stood for opening markets abroad, and opening markets domestically. President Clinton's commitment to respecting the independence of the Federal Reserve was important in contributing confidence to the position, he said. The Fed and the Treasury have worked together in "indispensable ways" in dealing with the world's financial crises, Rubin said Regarding the Dow Jones hitting the 10,000 mark, Rubin said the event has the potential of creating vigor in the stock market, and the market often tends to lose such vigor. Rubin stressed market participants need to consider the current valuation of stocks, which he said is often overlooked, and their aversity to risk. Meanwhile, Russia's debt problems with the International Monetary Fund (IMF) need to be resolved without U.S. interference, Rubin said. "That negotiation is not with the U.S.," Rubin said. "That negotiation is with the IMF." Rubin noted that the IMF reforms to assist Russia's progress were not acted upon by the Duma, Russia's congress. "The Duma had to proceed with reforms, and it did not," Rubin said. In his speech to the conference, Rubin said during his tenure the world was twice on the verge of severe crisis--in December 1997 when Korea was on the precipice of financial collapse and in August 1998 when the Russian government devalued the ruble and imposed a partial debt moratorium. End (c) Copyright 1999 FWN