2 Artikel ex CB

verfasst von black elk, 15.05.2001, 13:53

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.

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gesamter Thread:

• 2 Artikel ex CB - black elk, 15.05.2001, 13:53
  • Re: 2 Artikel ex CB / noch einer: TO DA MOON - PuppetMaster, 15.05.2001, 14:01
    • Wolanchuk ist ein Prolet - black elk, 15.05.2001, 15:31
      • Re: Wolanchuk ist ein Prolet - PuppetMaster, 15.05.2001, 15:39
      • Re: Wolanchuk ist ein Prolet/ davon gibts mehr - ManfredF, 15.05.2001, 15:39
        • Re: Wolanchuk ist ein Prolet/ davon gibts mehr - PuppetMaster, 15.05.2001, 15:41
  • TEST - McCay, 16.05.2001, 14:33