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To: Zardoz who wrote (33235)	5/6/1999 6:23:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 116762

International power brokers meet to discuss global future << Bilderberg, reputedly the most secretive organisation in the world, comprising presidents, royal families, ministers, top industrialists and financial leaders are set to meet in Sintra at the beginning of June. Francisco Pinto Balsamão, former Portuguese PM, media baron and frequent attendee of the meetings is listed as the member for Portugal. The security for the Bilderberg meetings, which are held at irregular intervals and prompted by the state of world affairs, is the responsibility of the host country. According to sources in Washington, Bilderberg will pay hundreds of thousands of dollars to reimburse the Portuguese government for deploying military forces to guard their privacy and for helicopters to seek out intruders. Bilderberg have ordered the resort to be shut down for a full 48 hours before the conference. >> << The agenda for the meeting is said to include a "globilaztion summit", during which nations which cling tenaciously to their sovereign identities will be denounced by its leadership. The principal feature of Bilderberg is that it seeks one global government, (a structure similar to the European Union), while counteracting nationalist sentiment is supposedly its greatest battle. Renewed calls for the United Nations to be able to directly tax all people of the world is said to be another major topic to be tabled for discussion in Sintra. >> the-news.net Morning Hutch, Will I see you there? LOL John

To: Zardoz who wrote (33235)	5/6/1999 8:52:00 AM
From: Oak Tree	Read Replies (1) \| Respond to of 116762

I heard on NPR yesterday that the new $1 coin will be made from gold (I assume some kind of sanwich of gold like the quarter). Has anyone else heard that news? How much gold are they talking about. I think a $1 coin could take off now-adays. They would be good for vending machines and so forth as long as they weren't too big or heavy (like the half dollars).

To: Zardoz who wrote (33235)	5/6/1999 8:03:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116762

Do you think dollar is going to get wacked on Kosovo deal? Gold 301? Gold firms on inflation talk, commodities uptick 11:40 a.m. May 06, 1999 Eastern LONDON, May 6 (Reuters) - Gold firmed during late European business on Thursday, helped by fund short covering on U.S. inflation fears, Australian currency strength and tentative bullishness in commodities generally, dealers said. Silver, platinum and palladium rose as well, the former helped by short-covering rallies in copper and aluminium. London gold fixed barely changed at $287.95 a troy ounce in the afternoon, down on the morning's $288.10. Dealers said gold drew strength from Thursday's warning by U.S. Federal Reserve Chairman Alan Greenspan that a tightening jobs market could fuel inflation and threaten the economy. ''The performance of the American economy over the past seven years has been truly phenomenal,'' Greenspan said in prepared remarks released in Washington. But he added: ''There are imbalances in our expansion that, unless redressed, will bring this long run of strong growth and low inflation to a close.'' ''It's a bit more positive,'' said one London bullion dealer who confessed to a sneaking affection for gold following months of coolness. ''It's an unfamiliar coat to be wearing,'' he said in reference to his measured bullishness. Gold's challenge would be to attract fresh buyers if fund short sellers covered positions and took their money elsewhere. ''The difficulty in this market is expanding the participation once you have got the shorts covered. It's a small constituency,'' the dealer added. Another factor helping gold was the Australian dollar's rise to near 13-month peaks on upbeat Australian economic reports, making miner hedge buybacks more likely than forward sales. Spot gold was last at $288.30/$288.90 versus New York's $286.90/$287.40 Wednesday close. Spot silver rose, though less enthusiastically, adding three cents to its New York close of $5.37/$5.39 to hit the familiar level of $5.40/$5.43. Palladium's volatile trade continued on Thursday with a $20 jump in early Europe, with one dealer saying funds covered short positions on the Tokyo exchange by buying spot metal in Zurich. It dipped before climbing again later to be last at $314.00/$319.00 versus its U.S. close of $291.00/$296.00. Platinum was also higher at $356.50/$358.50 from its $351.00/$353.00 close. ((Patrick Chalmers, London Newsroom +44 171 542 8057. london.commodities.desk+reuters.com)) Copyright 1999 Reuters Limited.

To: Zardoz who wrote (33235)	5/6/1999 8:06:00 PM
From: goldsnow	Respond to of 116762

Commodities-Profit-taking hits oil but gold jumps 07:08 p.m May 06, 1999 Eastern NEW YORK, May 6 (Reuters) - Oil prices fell sharply on Thursday, following through on nervous selling seen earlier as speculators stepped up their profit-taking following new 17-month highs struck this week in crude oil. In other featured commodity trade, gold prices rallied as Federal Reserve Chairman Alan Greenspan cautioned about inflation. Two key industrial commodities, copper and lumber, also rose despite sizable stockpiles. At the New York Mercantile Exchange, crude oil for June delivery closed 66 cents lower at $18.32 a barrel, down from the high of $19.05 a barrel on Wednesday, which was also the highest oil price traded since early December 1997. Selling pressure was even heavier in the refined oil products, led by a drop in gasoline prices. June gasoline closed 1.81 cents a gallon lower at 54.44 cents and June heating oil fell 1.57 cents a gallon to 44.22 cents. Analysts said the selloff was triggered by an unexpected rise in U.S. gasoline stockpiles. On Tuesday evening, the American Petroleum Institute reported that gasoline stocks rose 2.2 million barrels last week. Traders had expected a drop of 1.3 million barrels. Crude oil stocks, however, were reported 1.8 million barrels lower. That helped mute selling on Wednesday as traders were encouraged that pledged cutbacks in oil shipments by world exporters were actually beginning to trim the global oil glut. But the lopsided recent months of buying in the crude oil market, where prices hit a decade low of $10.35 in December, fed prudent profit-taking again on Thursday. ''This is not the beginning of a major correction,'' said Jim Ritterbusch, a trader for Chicago-based Sweeney Oil. ''Support levels have held so far and what we may be seeing is a little profit-taking correction from where we can proceed to another round of new highs,'' Ritterbusch added. Elsewhere, gold prices staged a rally after Federal Reserve Chairman Alan Greenspan suggested that an increasingly tight U.S. labour market risked fuelling inflation. At the COMEX, June gold closed $2.20 higher at $290.70 an ounce. ''The performance of the American economy over the last seven years has been truly phenomenal,'' Greenspan told a Fed conference in Chicago. ''There are imbalances in our expansion that, unless redressed, will bring this long run of strong growth and low inflation to a close.'' Dinsa Mehta, managing director of global commodities at Chase Manhattan in New York, said, ''Gold is now reflecting the collective behaviour of the rest of the market complex and its implications for inflation.'' Copper and lumber, two inflation-sensitive industrial materials, also felt an updraft from speculative interest. July copper at COMEX closed 0.65 cent a pound higher at 72.85 cents, the highest closing price since November. But traders said supplies still overhung the market. ''Business in the U.S. is still very good,'' said one cash copper trader. ''But the fact remains that there's nearly one million metric tons of visible stocks in exchange warehouses. Until those stocks are brought down, it's hard to get excited. And I'm not talking about 2,000 ton a week. I mean, big chunks.'' At the Chicago Mercantile Exchange, lumber for July delivery closed $3.20 higher at $342.40 per thousand board feet after setting a new life-of-contract high. Traders said lumber yards continue to fill previously sparse inventories, and mill order files are stretching further out. With home building active and the trend seen continuing into the summer due to recent damage from tornadoes, dealer demand is expected to keep the cash market strong, they said. Hog prices also closed higher but off the day's highs. Talk that a deal to donate 50,000 tons of U.S. pork to Russia was finalised aided the tone, but Russia's buying agent said no freight tender was imminent. June hog futures closed 1.025 cent a pound higher at 58.925 cents, while July pork bellies rose 1.950 cents to 59.250. ((Peter Bohan, Chicago commodities desk(312)408-8720, chicago.commods.newsroom+reuters.com)) Copyright 1999 Reuters Limited.