Forum Archive Index - August 2002

["Steven Tong" <soarer2@xtra.co.nz>]

Nick,


It would appear nobody else is concerned about these  developments,  this
time bomb will go off and New Zealands geographical isolation will not save
us.

Dow - Short
Gold - Long





----- Original Message -----
From: <nickk@quicksilver.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Friday, August 09, 2002 8:18 PM
Subject: [sharechat] IMF


>
> Interesting news overnight.  Steven's post was startling and the IMF news
> even more so.  Why didn't they just give the money to Shittigroup and/or
> JPMC?  That is the net effect.  Where does IMF money come from?  The
banks.
> It is a short term solution to a long term problem and the DOW
overreacted.
> The loan took the heat off US banks in the short term.  It also
represented
> a change in stance for the US government.
>
> Since the IMF loans are funded by major banks all over the world it is
> obvious the banks knew it was in progress.  Conspiracy theorists might
> speculate that Alan Greenspan blessed it as a way to support the US
markets
> without having to cut rates.  Time will tell there.
>
> I've read that major US banks have about a $30 billion exposure in Brazil
> already and had the country gone under would have had serious implications
> for the US.  It still  might have.  The Fed have obviously made a decision
> that any measure be taken to keep the US stock markets from melting down
> before November elections.  The PPT has been busy for a while now.  With
> insolvency rumors swirling around JPMC and Shittigroup the Fed decided to
do
> whatever it took to protect the markets - simple as that. The IMF move in
> Brazil is one of those steps.  Brazil's debt is at $500 billion.  There is
> no hope it can avoid a default and the loan was only a stop-gap measure.
> What you did not hear in most media was that they would only get $6
billion
> this year.
>
> IMHO the world outlook has not changed.  Watch for Greenspan's bullish
> statement this week when the Fed reserve meets.  Again, IMHO it is all hot
> air.
>
> Have a good weekend everyone.
>
> Nk
>
>
> --------------------------------------------------------------------------
--
> To remove yourself from this list, please use the form at
> http://www.sharechat.co.nz/chat/forum/
>
>



----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/