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To: Rarebird who wrote (32589)	4/27/1999 11:43:00 AM
From: sea_urchin	Read Replies (1) \| Respond to of 116762

Dear Mr Bird : Re "Actually the POG is in a Bull Market; it has been making higher lows and higher highs since August 1998. Same with the XAU. Fear not. When this Blow Off Ends and the U.S. Market turns South along with the Dollar, the POG and XAU will rally very strongly. That day is coming sooner than one thinks. The present blow off is actually a blessing for the POG and XAU." Pray, tell an ordinary mortal, "How do you know all this?" Something that you see from on high, maybe? When I look at the POG graph, since Aug 1998, I see a single bottom, now, which is incomplete, and falling tops. At the moment, I do see some reason for bullishness in the crossing of the stochastics. But nothing else. digisys.net Same scene with the XAU iqc.com I agree with you about the link between the dollar and gold but, at present, I can only see a strong dollar. As for the Blow Off ending, with all due respect, I heard that story at Kitco 3 years ago when the Dow was around 5000. I can't see why it is different now.

To: Rarebird who wrote (32589)	4/27/1999 2:49:00 PM
From: Alex	Respond to of 116762

4/27/99 - Britain Urges IMF to Increase Sales of Gold for Debt Relief <Picture> Apr. 26 (Evening Standard/KRTBN)--Britain is pressing for much more aggressive sales of the International Monetary Fund"s huge gold stockpile to fund debt forgiveness for poor countries crippled by massive interest bills. Chancellor Gordon Brown, who arrived in Washington last night for IMF-G7 meetings, will today push for the IMF to sell 10 million ounces of gold worth about $2.4 billion (UKpound 1.5 billion), twice the five million ounces originally envisaged. Britain is confident it can garner support for the bolder gold disposal programme, especially since Germany has partly dropped its opposition to the plan. Brown hopes to win agreement in principle to the plan this week, allowing G7 nations to announce the programme formally at their June summit in Cologne. Policymakers trying to prevent future financial crises claimed a major coup today after the IMF agreed a new system of giant overdrafts for vulnerable countries. The IMF has agreed to provide Contingent Credit Lines -- effectively huge overdraft facilities -- to healthy countries that believe they could in future be vulnerable to financial contagion. Countries which meet IMF criteria will be promised facilities of three to five times their IMF quotas. The cash would be available to meet balance of payments difficulties caused by speculators fleeing a targeted country. The IMF sees the CCLs as giving comfort to markets and preventing contagion. IMF managing director Michel Camdessus said the aim was prevention: "Our dream is never to have to activate this facility." However, the new CCL regime, the first major breakthrough for IMF members at their spring meeting, was greeted with scepticism by some critics, who argue countries that apply for the new credit lines will signal their vulnerability to markets and be punished accordingly. Meanwhile, equity investment is flooding back into emerging markets, according to fresh figures from the Institute of International Finance. It forecasts that fund managers and institutional investors will invest a net $21.5 billion in emerging markets this year, nine times more than last year when investors fled. Investors were attracted by the fall in emerging market shares, which had left prices looking attractive. Some markets had already started to bounce back. IMF officials warned while there was a lot of talk of the world financial crisis being over, the recovery was extremely fragile and market sentiment was in danger of becoming too optimistic. -0- Visit the Evening Standard at thisislondon.co.uk UKpound preceding a numeral refers to the United Kingdom"s pound sterling. (c) 1999, Evening Standard, London. Distributed by Knight Ridder/Tribune Business News. END!A$2?EV-IMF