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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (33866)	5/14/1999 8:33:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 116790

Massive Inflation: CPI UP .7%. Core Rate: Up.4%

To: John Hunt who wrote (33866)	5/14/1999 8:52:00 AM
From: Zardoz	Read Replies (2) \| Respond to of 116790

"All I know is that you short things that are high and buy things that are low and gold is too far off its $800 high (65%) for me to short." If Gold is a storage of value, then you need to compare the economics of then to know. A shorted stock at $270 dollars can still go lower. It's really irrelevant to say $800 or $270, only up or down. Gold has no growth. Wonder if the little GREENY is going to raise? OT: Inflation was here, always has been here, those that understand monetarism know, even if they don't agree. Lower excess M2/M3 and true inflation starts to show. I still stand on my opinion that Greenspan was wrong to lower. Have a profitable day ALL

To: John Hunt who wrote (33866)	5/14/1999 9:36:00 AM
From: lorne	Respond to of 116790

Good morning John. US. don't need Saddam but need his oil. U.S. may allow more oil sales, investment in Iraq By Bernie Woodall NEW YORK, May 13 (Reuters) - The U.S. State Department has recommended a softer U.S. position on the Iraqi oil embargo in hopes that this would solidify international will to keep a tight rein on Iraqi President Saddam Hussein, a U.S. official said on Thursday. The idea is to concede on the embargo in order to keep broader sanctions in place, and possibly to pave a way to get weapons inspectors back into the country, the official said. Senior State Department officials, meeting on Wednesday, agreed to advise the White House to allow the elimination of a cap on Iraqi oil sales and allow foreign investment to bolster Iraq's dilapidated oil industry. The White House will respond to the recommendations on Friday, the U.S. official said. Next week the U.N. Security Council will decide whether to renew the "oil-for-food" program for another six months from May 25. The oil embargo has been in place since Iraq's 1990 invasion of Kuwait. But a United Nations "oil-for-food" program, in place since December 1996, has steadily increased the amount of oil Iraq is allowed to sell in order to alleviate the suffering for ordinary Iraqis and other Gulf War victims. Lifting the current cap of about $10.5 billion of annual oil sales and allowing foreign oil firms to repair Iraq's oil infrastructure would reverse a long-held U.S. position. Under terms that ended the 1991 Gulf War, teams of international weapons experts from the United Nations Special Commission (Unscom) monitored Iraq's ballistic, biological and chemical weapons programs. But last December, Unscom inspectors were thrown out of the country, leading to a U.S.-led bombing campaign against Iraq. "The bottom line is to keep sanctions on," said the official, who requested anonymity. Even if the United States makes the concessions, Iraq is unlikely to be able to sell much more oil until next year, oil experts have said. It is already pumping oil at capacity and it will take to spring 2000 to make the repairs needed to increase its output. The U.S. official said that if the oil embargo on Iraq is loosened, Saddam Hussein would still be unable to gather funds to rebuild his arsenal and army, the largest in the Middle East before the Gulf War. The United Nations would still tightly control oil sales and would monitor any work done in Iraq by foreign oil firms. Production sharing agreements are the most likely way for foreign investment to find its way to Iraq, the U.S. official said. Iraq has given major oil concessions to firms from Russia, France and China, which all have supported its efforts to lift sanctions reuters.com