1.

Motorola says Turkey's Telsim missed payment
(UPDATE: Adds Motorola, money manager comments throughout)
By Ben Klayman and Yukari Iwatani

CHICAGO, May 14 (Reuters) - Motorola Inc. (NYSE:MOT - news), the No. 2 maker of cell phones, said on Monday that Turkey's No. 2 wireless carrier, Telsim, missed an April 30 deadline to pay a $728 million loan payment Motorola made to the company.

There is an estimated 100 billion junk bond debt in telecom sector that can go bad...

Major banks have billions of dollars in telecom debt that can go bad. Last few years there has been estimated 700-800 billion in telecom debt issued and a huge chunk of it can go bad.

This is going have a devestating effect on the equity markets and could crash the bond market... if you think that the dot com collapse was huge you haven't seen anything yet......

2.

From the Privateer.com
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MAY 10: EUROPE MAKES A DEAL WITH THE U.S.A.

Unlike the U.S. Federal Open Market Committee ( FOMC ) which meets only six times a year, the European Central Bank ( ECB ) meets every second Thursday. On Thursday, May 10, ECB President Willem F. Duisenberg announced to a stunned world that the ECB had cut its interest rates by 0.25% to 4.50%. The Fed and the ECB now sport exactly the same rate.

This action was expected by NO-ONE. Mr Duisenberg had resisted all pressure to cut rates at the recent Washington G-7 meeting and had dropped unsubtle hints that he saw no necessity for a rate cut for the rest of this year. But all of a sudden, he obviously saw such a necessity.

Mr Duisenberg used, as his"official" excuse, an argument to the effect that the ECB had just realised ( literally days before May 10 ) that their statistical methods of calculating European"broad money" ( M-3 ) were"distorted". Mr Duisenberg told the press conference immediately after the rate cut announcement that better statistical procedures now enabled the ECB to separate out Euro and Euro-denominated assets circulating outside Europe from those circulating inside Europe.

Having done that, it developed that the Euro M-3 expansion was WITHIN ECB guidelines. So, the ECB could lower rates after all. Statistics are wonderful things, are they not?

It should be noted that U.S. Dollars circulating outside the U.S. ( the gigantic EuroDollar market, for example ) are not counted in any measure of U.S. money supply. Imagine what the U.S. M-2 ( 13.6% growth annualised ) and M-3 would be if they WERE! Now, the ECB has followed in the U.S. footsteps in regard to its Euros circulating outside Europe. The Euro and the Dollar are now even more equal.

What changed Mr Duisenberg's mind? For that, we must return to the G-10 Central Bankers' meeting ( under BIS auspices ) mentioned on the previous page. Both Mr Greenspan and Mr Duisenberg attended this meeting. As already stated, no news has come out of this meeting. But we have two pieces of evidence that some kind of"deal" was struck. One is the $US 5.00 jump in the Gold price on May 9. The other is the 0.25% ECB rate cut on May 10. All of this leads straight to the Genoa Summit!
The Return To Genoa:

The Genoa ( Italy ) Summit is a Heads of State Summit and it takes place July 20-22. President Bush will be there, as will all the other relevant Heads of State. At this Summit, the issue is world MONEY.

The first Genoa Summit took place in 1922 and sounded the death knell for the Classical Gold standard."Genoa I" substituted the Gold Exchange standard under which the British Pound and the U.S. Dollar were made equal to Gold as official Central Bank reserves.

Another World War later, at Bretton Woods in 1944, the U.S. Dollar was made the world's ONLY official reserve currency - still linked to Gold but for government-to-government transactions only. And in August 1971, the U.S. Dollar was cast free of Gold. The Dollar remains the world's SOLE reserve.
The Deal?:

The EU/U.S. Deal - to be consummated at the Genoa Summit - will make these two currencies co-equals. And Greenspan will act to decelerate the present accelerating U.S. Dollar credit expansion. This time ( Japan threatened to do likewise in mid 1997 ), Japan's threat to sell $US 1 TRILLION in Treasuries has forced the U.S. towards Europe to save the Dollar.

be



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finde den"view" von don wolanchuck recht interessant. soweit ich das verfolge ist er mindestens ein spitzen-trader und seine bullishness hat sich bisher für ihn gelohnt:
 
 
in a stock house interview that is somewhere in storage incyberspace...im still looking......it was in 98....where i predicted a crash
of some sorts prior to the next 4 year cycle low.....the crash was in da secondary market...actually wasnt a crash...it was just a
hump in the long term up trend....inother words just like the dow in 87 just a hump in the overall uptrend....and like the 87 dow
hump the latest naz hump brought out the same doom and gloom scenarios...but this time from a new generation of professional
bears which was added to the allready large contingent of old line pro bears..some of the old generation did learn their lesson
from 87 and this new generation will go through the same cycle...its basicly the 30 to 35 yearold market observers who didnt
experience the 87 thing that are the most vocal in their bearish procrastinations...some like granville who missed the 73 74 bear
market decided in 82 that he wasnt about to get fooled again and of course the bull market made minsmeat of him....basicly the
problem with most analysts is that they dont have the tools except for some very short term stuff, that enables them to take a
bigger chunk out of the market...the clx analyis is the key to that kind of performance and of course the proper read of the long
term elliot count.....essentially its been my long held view that the market is controlled and manipulated to the point where
traders are allowed to be become winners for a buncha nickels and dimes for an extended period of time then when the big
upside kahuna arrives nothing seems to work anymore and more money is lost on the short side as the market it move up and
away.....if it were easy then every body would have been able to say"I was able to out perform the S and P by a 2 to 1 ratio over
a long period of time"...many have tried not many have succeeded....and of course there are always those analysts who will
always have a bearish bent....lets face it..most FA over the years has made it easy to be bearish....unfortunately most have a
misconseption about wat the market is all about....it.s a money making machine for the elite of this country and in that vain the
masses must be convinced that the market is not just a grown up game of trading baseball card but a serious business of buying
and selling companies, with earnings and all dat udder chit....and since this money machine is the primary reason for the
existance of this moneyed elite you can rest assured that it wont be allowed to fall apart.....that is why after the last huge runnup
it has taken 3 years of rotation to squeeze out the excesses....its been that way since the begining of the US markets...essentially its
a fear driven invorenment and most focus on the present for their worrisome attitudes about the markets....all failing to analyse
the market reactions to prior nasty reasons to be scared about the stock markets prospects....years ago there was plent to worry
about.....continental illinois, saving and loan collapse, farm depression, south american debt default....incredibly theres not much
of that crap to worry about now so the only thing left to worry about is the product of a supposed bubble mania...so you see
people will always find something to worry about....thats why in a horse race there is only one winner....the horse with a rider
who lets him have his head and doesnt worry about a thing.....why should he when there is an army of professional worriers doin
it behind him........cheers

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Also mal ehrlich, ich habe noch keinen brauchbaren technischen Ansatz bei ihm entdeckt. Er ist ein Schnacker erster Güte und genau damit verdient er auch sein Geld: Er verkauft sein eigenes Gelaber. Was soll schon schiefgehen? Wenn er mal falsch liegt dann hat er die Provisionen seiner Kunden und seines Börsenbriefes (für den er ja kräftig die Werbetrommel rührt).

Er ist der amerikanische Bernd Förtsch.

be

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>Also mal ehrlich, ich habe noch keinen brauchbaren technischen Ansatz bei ihm entdeckt.

was aber keine wertung zulässt
techniker sind ja keine besseren menschen - irgendwie:)

>Er ist ein Schnacker erster Güte und genau damit verdient er auch sein Geld:

keine ahung was ein snacker ist.
bist du long gegangen bei s&p 1100?
er schon und damit hat er sicher auch was verdient.

>Er verkauft sein eigenes Gelaber. Was soll schon schiefgehen?

das kann man z.b. von jükü auch behaupten.


>Er ist der amerikanische Bernd Förtsch.

diesen herrn kenne ich nicht...


gruss


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>Also mal ehrlich, ich habe noch keinen brauchbaren technischen Ansatz bei ihm entdeckt. Er ist ein Schnacker erster Güte und genau damit verdient er auch sein Geld: Er verkauft sein eigenes Gelaber. Was soll schon schiefgehen? Wenn er mal falsch liegt dann hat er die Provisionen seiner Kunden und seines Börsenbriefes (für den er ja kräftig die Werbetrommel rührt).
>Er ist der amerikanische Bernd Förtsch.
>be

Amis sind irgendwie alle gleich. Eine Freundin von mir hat z.Z. ein Abo bei einem amerik. Day-/Position-Trader. Echt penetrant, wie sich der Typ jeden Tag selbst auf die Schultern klopft. Aktuell angeblich 9 Gewinntrades (die immer nur hinterher bekannt gegeben wurden) in Folge - nur seine Abonnenten müssen mit einem Breakeven zufrieden sein.


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>Amis sind irgendwie alle gleich.

so ein schwachsinn!

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