I am trying to line up a purchase of what you are after.

If I cannot get this, it will be a story anyway.

$10 indians are what I like now. Never sell the stuff though. I've been collecting 30 years too; Since, I was 8, never sold a thing.

hong kong sentiment

http://www.feer.com/Restricted/index_real.html

nikkei to 10000

http://biz.yahoo.com/rf/981027/ct.html

http://www.cairns.net.au/~sharefin/Markets/Master.htm

THEY'RE DOING IT AGAIN! GEEZ!

No one better ever say a word to me about Hong Kong again!

http://www.viwes.com/invest/shorts/news/

http://dailynews.yahoo.com/headlines/bs/story.html?s=v/nm/19981026/bs/smartcards_2.html

The dollar rose dramatically yesterday against the DM and other Europeans

when Italy announced its long-awaited rate cut, bigger than expected at 100

bp. Sterling took a huge hit as traders decided not to support the crossrate

ahead of next week's Monetary Policy Committee meeting. Deutsche Bank's

chief economist Walter was the latest non-Bundesbank figure to say that à

the call for lower interest rates in Europe is justified from an economic point of

view. It is true that German growth is slumping and the global economic trend

is soft. Room for a rate cut exists and should be used in light of price stability.

Walter criticized Schroeder and Lafontaine as tactically wrong for trying to

compromise the independence of the BBK and ECB, and said historical

precedence shows lax monetary policy never solves unemployment. The Wall

Street Journal this morning correctly sums up the state of play--the real risk in

Europe today is politicization of monetary policy with threats of FX target

zones and relaxation of Maastricht fiscal criteria. Bank of Italy Gov Ciampi

contributed to this mood by saying there is ample knowledge that the level of

core European interest rates could still come down.

In Japan, various officials of the Obuchi government confirmed that a special

2-week Diet session will be called for late November after all, probably Nov

27, implying that it has found allies among opposition parties for a third

supplementary budget. EPA head Sakaiya will chair cabinet meetings on Nov

4 and 16 to finalize another stimulus package. As always, the amount is a

moving target. Sakaiya did say the new plan will have direct and immediate

effects. Separately, the LDP Secretary General announced that it will

seriously consider the gift coupon idea of the Komei partyà in an amount of

Yen 4 trillion, or about $254 per person. The final package this time is

therefore likely to be as much as Yen 10 trillion. The Nikkei was unimpressed,

and fell 22.78 points to close at 13,820.68 for the third day of declines.

In emerging markets, something is happening in Russia and we don't know

what it is. Yesterday Primakov elbowed Yeltsin aside for a 2-week rest in a

sanatorium for nervous exhaustion and took his place at the EU-Russia

summit in Vienna today, shortened from two days by the Russians. Primakov

said he won't beg for food but contributions of $1.5 billion in food and

humanitarian aid would be accepted.

Chase reported that China failed to make payment of a $8.75 million coupon

due yesterday at 5 pm on a $200 million Yankee bond issued by GITIC in

October 1996 and maturing in 2016. China said there will be a 90-day

moratorium on GITIC's obligations when GITIC was closed October 6, so now

we know that the moratorium extends beyond loans to bonds. Technically, this

is the first Chinese sovereign default in almost 50 years. Reports are vague,

but it looks like Chase is giving China a 10-day grace period to make the

payment while it figures out whether it really wants to be tagged with the

sovereign default label. GITIC has at least $800 million in long-term debt,

$350 million in dollar-denominated bonds, and $55 billion in yen-denominated

samurai bonds, most issued since 1994.

Outlook: Russia is the largest country in the world by land-mass and China is

the largest country in the world by population. Even if China comes up with the

GITIC coupon this time, default is in the air. We may see an early exit from

emerging markets paper of all stripes in anticipation of another round of

devaluations and bank and corporate failures, even in countries that seemed

to be making good progress ( Korea, Taiwan ) . It goes without saying that the

World Bank and IMF simply don't have the funds, not to mention support of

their economic management theories, to effect a quick fix. Normally this would

suggest a flight to quality in US governments, but this time flows may be partly

diverted to Europe in a fresh wave of enthusiasm for the euro. With the BBK

ever more likely to give us a rate cut as its swan song, however, the US may

be the currency of choice if we can assume that the third Fed rate cut is

already priced in. That's a pretty big if. Traders note that the dollar rose

almost 200 points against the DM on the Bank of Italy rate cut announcement,

but it is still capped around 1.67, only one pfennig higher than earlier

resistance, and against the yen, it is still capped just below 120. As we wrote

last week, we are buying into this dollar upward correction but have serious

doubts about how far it will go and how long it will stay firm. Additional

incendiary remarks from French and German politicians may do the trick, for

a while.

Why? They have already bottomed! This gives them a head start on the road to real recovery.

Furthermore they appear to be taking measures to decouple their currency from the American dollar and are pegging it to gold. As the new economic flagship to the world, they foretell the direction of future world economies yet to experience their bottoms..

Also yesterday on this site ( forgive my poor memory to afford proper credit- was it Allen? ) $3,300

POG was determined to be reasonable valuation. Who knows? But few Kitcoites, certainly, would have a difficult time imagining say $500-$750 in the face of a worldwide economic meltdown. So when ( and if ) that happens whose currency value is going to double, or even quadruple relative to the dollar--Russia.

Further because Russia is decoupling from the dollar they will not be accumulating same but will be buying gold while its cheap and while others are selling ( Argentina etc. ) to defend their currencies against the dollar.

When POG rises through the point of no return vis a vis all the hedge fund shorts its ascent will be rapid. When it is seen what this does for Russian economic recovery, the charge of the bull will be MIGHTY, and the casack warrior white horse from the land of northern snows will be leading the charge!

Silver to $4.50 ( if it gets turned back from here ) or $7 - $7.50.

http://www.marketprojections.com

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