Color of the Market Archive, Page #23
Color of the Market A R C H I V E 

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The Color of the Market has been an online meeting place for people interested in emerging market debt since 1996, and has undergone many changes in that time. We have discovered an old archive of Color of the Market messages, covering 5 months starting in late 1998. For the benefit of both old and new Bradynetters, we present this archive untouched.

Note: Back in these days, the forum software was greatly different than the Color of the Market that we are now accustomed to. Without the requirement of registration, the forum began to attract disrupters who would engage in vulgarities, name-calling, impersonation of users, and other childish hijinks. But if you can wade through the nonsense, some of the comments herein are historic, and prophetic.

Enjoy,
IDEAGlobal/BradyNet Staff

Wed Apr 28 23:19:49 EDT 1999
wally®: (Updates with World Bank comment, 10th-11th paragraphs) By Lida Poletz. pillx: i think here's the beef! LIDA POLETZ. one of the thousands of bloody freelance journalists sucking their thumbs, poking their noses, scratching their whatever and make up a story for which reuters pays 5 cents a word. i have no evidence it's just my gut feelings!
Wed Apr 28 23:26:02 EDT 1999
PILLX: "Clearly the IMF and the G-7 want to be able to say there's some meat in the program," said Charles Blitzer, a former World Bank economist in Moscow who now works for Donaldson, Lufkin & Jenrette Inc. in London. But the Duma has laid waste to previous IMF programs, and the IMF risks weakening the government by withholding payments until parliament approves the reforms. "It's not obvious that the government can hold the politics together for two months," said Peter Boone, head of research at the Brunswick Warburg brokerage firm in Moscow
Wed Apr 28 23:35:31 EDT 1999
wally®: <"It's not obvious that the government can hold the politics together for two months,"> english is not my mother tongue but i dare say this sentence sounds like grammatical PIDGIN english (to me). Peter Boone, head of research = ANAL-lyst! pillx: i am tired and now i will retire.
Wed Apr 28 23:37:50 EDT 1999
wally®: <some meat in the program> beef or pork? wally over and out.
Wed Apr 28 23:41:49 EDT 1999
PILLX: Moscow's political pressure on the Western creditors under the pretext of NATO aggression against Yugoslavia has failed to bring a desired effect. Russia is not regarded as a great power any more and its possible default is not feared. It will be helped in two cases -- if the country really continues its economic reform in keeping with IMF recommendations and if the prospect of restoring communism in Russia becomes too dangerous for the Western states themselves.
Wed Apr 28 23:45:58 EDT 1999
PILLX: Alarmed by the changes in the Russian Cabinet of Ministers, which occurred on April 27, Maslyukov has decided to avoid a failure of the talks at any cost. For this reason he proposed that Gerard Belanger, chief of the IMF mission, finish the drawing up of the memorandum of the Russian Government at his own discretion. "We will sign everything," the Deputy Prime Minister promised
Wed Apr 28 23:47:37 EDT 1999
anonymous: PHLLX: THis is nasty stuff. Do you think they will default on Eurobonds?
Wed Apr 28 23:49:48 EDT 1999
PILLX: WALLY good dreams ,oil in Siberia combined with diamonds , not so bad $$
Thu Apr 29 00:16:33 EDT 1999
anonymous: But in a little noticed and highly unusual element of the deal, the money will never actually be sent to Moscow. Instead, at the insistence of the U.S. Treasury and some European nations, the loans will essentially be transferred from one of the Monetary Fund's accounts to another -- allowing Russia to avoid default on money it owes the IMF this year and next. The Western allies feared that if the loan was made in the usual way, with the money transferred directly to Russia's central bank, the cash could disappear in days. That is what happened last July, when the fund sent $4.8 billion to Russia. NY Times.
Thu Apr 29 00:18:09 EDT 1999
anonymous: Ciao to the Russian Eurobonds!
Thu Apr 29 02:41:06 EDT 1999
anonymous: Ciao to the Russian Eurobonds! DU BIST SO BLÖD,MANN
Thu Apr 29 03:38:20 EDT 1999
optimist: Cheer up bradynetters: rus stock both in moscow rts system and adrs traded in frankfurt post moderate gains - 3 to 5% in the morning trade.
Thu Apr 29 03:42:48 EDT 1999
anonymous: Thanks for the news on Russian equities. How are the Euro Bonds trading ?????
Thu Apr 29 04:13:05 EDT 1999
optimist: Yesterday Chairman of Duma Budget Comittee Zhukov said the latest requests of IMF to change budget legislation along with CenBank capital controls removals point out that IMF doesnt want to speed up lending to Russia. Zhukov said it appears Duma will not be eager to pass promtly amendments to legislation proposed by IMF. 1999 budget provides for USD 7.5 billion of new international lending. Currently IMF may grant 3 billion from june 1999-june 2000 WB may grant 1 bio during 1999 and Japan eximbank may provide 1 bio in 1999. Thus russia will likely have deficit of 2.5 bio in budget revenues from international sources. At the same time russia's budget revenues may benefit from substantially higher oil price. The case is how to turn higher companies revenues into increased governments revenues, since oil export acise stays at the same level as 3-4 months ago when oil prices were much lower. It is rumoured the acsise will be elevated by 5% starting from 1 june 1999.
Thu Apr 29 06:56:01 EDT 1999
wally®: <the money will never actually be sent to Moscow> assuming this is a fact (NYT) then the IMF just followed an advice some friends and me have discussed since months. perhaps we were in D.C. after all? pillx, cheetah please help to recover my memory.
Thu Apr 29 07:22:01 EDT 1999
anonymous: The refusal to send the new loans to Moscow reflected some behind-the-scenes pressure and advice given to Treasury Secretary Robert E. Rubin by certain individuals participating in bond discussions, who had argued that any credible new loan program for Russia must include safeguards to prevent a repeat of last summer's embarrassment. In mid-March, Rubin told a congressional panel that much of the $4.8 billion pumped into Moscow's foreign exchange reserves at that time "may have been siphoned off improperly."
Thu Apr 29 07:25:31 EDT 1999
wally®: anon: thanks, that answers my question.
Thu Apr 29 07:31:01 EDT 1999
anonymous: Hi opti,we cheer,don't worry.rgds.Fred
Thu Apr 29 07:33:36 EDT 1999
wally®: SOFIA, April 29 - Bulgarian experts said on Thursday that a rocket which destroyed a house in a suburb of the capital Sofia on Wednesday night was a NATO-type projectile. Colonel Tomirko Tomanov, a weapons specialist with the Air Force Chief of Staff, told a news conference the missile was an "air-to-surface type, AGM 88 HARM, or a high-speed anti-radar missile which could be carried by NATO's F-16 fighters". NATO: please take note that bulgaria has 2 chernobyl type decaying nuclear power plants. it is highly advisable that your pilots are taught a little geography.
Thu Apr 29 07:52:24 EDT 1999
wally®: EXCERPT! LONDON, April 29 (Reuters) - Russia's deal with the IMFopens the doors for funding from other financial institutions and has removed the slight remaining risk of Eurobond default, London analysts said. However, key to the deal is how quickly Russia's communist-dominated Duma lower house of parliament will pass legislation on bank and other reforms and whether the moneys can be disbursed before Eurobond, MinFin debt and Paris Club payments start coming due. "Bid and offer spreads are wide on the Russian Eurobonds, and we think there may well be some selling. The IMF package is good news, but not good enough to sustain their rally," said one trader at a leading European bank. In early London trade, the price of Russia's Eurobonds were higher but trade was thin and the 2028 global bond was up 1-1/4 at 41 bid and 42-1/4 offered.
Thu Apr 29 07:58:52 EDT 1999
wally®: Poole said that the government of Prime Minister Yevgeny Primakov would probably be able to shift the burden of responsibility for meeting the IMF's terms on to the Duma. "It is do-able, but it's not a done deal. The Duma has shown in the past that it can and will reject government proposals, such as not lowering the rate of Value Added Tax, which was also an IMF demand," he added. pillx: that explains the twisted story of LIDA POLETZ. as i said: 5c/word journalist.
Thu Apr 29 08:21:28 EDT 1999
wally®: The missile that was dropped on Sofia does not belong to NATO, Ekho Moskvy reports. A statement to that effect was made by a spokesman for Bulgaria's air force on the basis of information received from the NATO headquarters. Apparently, further details will be ascertained.
Thu Apr 29 08:24:32 EDT 1999
wally®: The IMF loan to Russia has political reasons and does not indicate any approval of the government's economic policy, says the leading analyst of emerging markets for MFK-Renaissance, who said in an AK&M interview that the IMF managers have decided to give Russia a loan not because the country's economic situation has really improved, but because its further deterioration would be dangerous to both Russia and the world as a whole. The West also wants the Russian government not to get mired in economic problems, but to make every effort in order to resolve the Kosovo conflict. At the same time the Fund's request for amendments to the legislation indicates that the IMF has not entirely lost hope for continued reform in Russia. can one trust this analyst? NATO please accept my apology (bulgaria).
Thu Apr 29 08:28:55 EDT 1999
anonymous: RE: wally®: EXCERPT! LONDON, April 29 (Reuters) - Russia's deal with the IMF opens the doors for funding from other financial institutions and has REMOVED the SLIGHT remaining risk of Eurobond default, London analysts said................... ...and we think there may well be some selling. The IMF package is good news, but not good enough to sustain their rally," said one trader at a leading European banks. Sounds like a short looking for product to cover at a lower price !!!!
Thu Apr 29 08:44:27 EDT 1999
anonymous: anybody knows whether Tatneft paid the coupon??
Thu Apr 29 08:48:41 EDT 1999
PILLX: GOOOOOD morning ,,,If the IMF wrote a blank check again, there'd be a lot of pissed-off investors. You need accountability. That's the whole problem,the required bills could become law by June, although at least four months are usually required to approve legislation.The IMF's proposed lending program amounts to far less money than Russia needs to repay earlier IMF credits that mature this year.Russian tax collection is barely $1 billion a month and the central bank's reserves are close to three-year lows??
Thu Apr 29 08:52:20 EDT 1999
anonymous: "The International Monetary Fund's offer of new loans for crisis-hit Russia falls short of what Russia expected and is so linked to key legislative changes that receipt of the cash is doubtful...."
Thu Apr 29 08:53:38 EDT 1999
anonymous: Thats why I call our investments SPEKALAYSHAN,if you know what I mean
Thu Apr 29 08:57:52 EDT 1999
anonymous: I do, I do, I dooo
Thu Apr 29 09:04:30 EDT 1999
anonymous: Right,since yesterday appeared some half-scientific hobby economist,asking question about Russia'a reserves,about analysis etc etc.IF OUR BONDS WEREN'T SPECULATIVE,THEY WERE AROUND 40% OF NOM.VALUE,DEAR FRIENDS & COLLEAGUES
Thu Apr 29 09:13:23 EDT 1999
Savonarola: Pillx: $1 bn a month..May be the Kremlin/Duma should just shut down, send all the beaurecrats home, let the regions run their own affairs,.....and use the billion to pay the euros!!!
Thu Apr 29 09:14:17 EDT 1999
anonymous: attn. wally!! SOFIA, Bulgaria (AP) -- NATO acknowledged today that a missile fired by one of its warplanes over Yugoslavia unintentionally landed in Bulgaria,
Thu Apr 29 09:20:14 EDT 1999
anonymous: this is topic that is discussed on bradynet long ago....."The IMF is also worried that previous loans were directed through an offshore company based in Britain's Channel Islands"
Thu Apr 29 09:50:41 EDT 1999
wally®: pillx:<central bank's reserves are close to three-year lows> you turned pessimist? don't forget the hidden reserves such as cash on spaceship enterprise (top secret), plutonium deal=$12 bil, leftover cash in the pockets of berezhovkhys savile row suits and most important the combined brainpower of all BRADYNETTERS.
Thu Apr 29 09:53:46 EDT 1999
wally®: <sounds like a short..> could be, since a trader was quoted.
Thu Apr 29 09:57:03 EDT 1999
wally®: <offshore company> yes old story. what the imf requests (and was promised) is information. sounds only fair to me. OPTIMIST: we need your input (1 mile long)!
Thu Apr 29 10:05:23 EDT 1999
wally®: <anybody knows whether Tatneft paid..> OSCOW, April 29 (Reuters) Russia's fourth largest oil producer Tatneft <TATN.RTS> did not make a $13.5 million coupon payment on a Eurobond due on Thursday, said a spokesman for the firm. "We did not pay the $13.5 million coupon due today. The company still has a 15-day grace period in which to pay the coupon," the spokesman said, declining to forecast whether the oil company would make the payment in the period.
Thu Apr 29 10:50:15 EDT 1999
PILLX: WALLY not at all I don't understand the market today RTX up 8.25%(http://quote.yahoo.com/q?s=^RTX&d=t) euros flat ,minfins index up 10%, why the big diff.
Thu Apr 29 11:15:25 EDT 1999
anonymous: Hi PILLX,as I told you already,its called SPECULATION!If you are looking for logic in the market,you make the same mistake like Vielhaber and dummies like him.Remember:Information = Ruination
Thu Apr 29 11:21:27 EDT 1999
PILLX: I can give you about 100 definitions about speculation it's very simplistish to explain the russian market that way
Thu Apr 29 11:21:40 EDT 1999
wally®: pillx: can you point out ONE person that understands the market? i can't. please direct your question to the ANAL-lysts. 12 ANAL-lysts = 48 answers (minimum). you sort and select which answer pleases you most and then you have a double LAGAVULIN 'on the double'.
Thu Apr 29 11:25:26 EDT 1999
PILLX: OK wally I agree about not understanding markets even the dow is not to understand ,but then why you invest in Russia?
Thu Apr 29 11:31:27 EDT 1999
anonymous: To Pillx from Analyst: on one hand you have to take into consideration that during the nights it is always cooler than outside, on the other hand a handy lewinsky is better than two euros in the bush. but since jamil mahuad phoned hugo chavez yesterday we estimate the russian channel islands account to be much more interesting. we advise to go short. if going short does not fit your strategy you can always apply for a job in brazil's central bank to make use of insider knowledge. for more information subscribe to our weekly newsletter (three low monthly payments each 19.95) at http://www.anal-lovers.com .
Thu Apr 29 11:34:54 EDT 1999
anonymous: Dear PILLX,please buy US Savings Bonds!!!!!!!rgds.Fred
Thu Apr 29 11:35:28 EDT 1999
wally®: pillx:<why do you invest in russia> i have been investing in russia since 1990 and i will stay till the (bitter?) end.
Thu Apr 29 11:37:46 EDT 1999
wally®: pillx: i forgot to mention the good old soviet times. coupon always arrived three days in ADVANCE!
Thu Apr 29 11:38:38 EDT 1999
anonymous: Why do WE invest in Russia?? Because we want 30%+ yields,and how is this called what we do??Right!Speculation!
Thu Apr 29 11:41:30 EDT 1999
anonymous: Have you gentlemants noticed how russians politicians stopped pounding the West about Kosovo and the Serbs. While in Wash. they all seemed pro-west when asking for mo' money to steal to their offshore accounts. It's all about politics, nobody (in the West or in Russia) cares about people being bombarded in Belgrade, Kosovo or Bulgaria.
Thu Apr 29 11:42:33 EDT 1999
wally®: fred: did we or did we not agree that one exclamation mark is enough? state your case or face contempt of court (up to 99 years if/when convicted).
Thu Apr 29 11:43:26 EDT 1999
anonymous: Right,so we have two bad things on our hands:1)Speculation and 2)Politics
Thu Apr 29 11:44:39 EDT 1999
anonymous: What do you mean?????Oh,one is enough?? Sorryyyyy!!!!!rgds.Fred
Thu Apr 29 11:46:29 EDT 1999
wally®: <It's all about politics> yes to that. but there are a lot of people -like me- who do care that bombs are dropped on innocent people. and i am NOT the only one.
Thu Apr 29 11:51:31 EDT 1999
PILLX: 30% / year is not speculation,US Savings Bonds can be speculation, even to hold cash is speculation because you speculate that yield will go up and that your currency will have more value than others
Thu Apr 29 11:58:41 EDT 1999
wally®: pillx: even life is a speculation. we all know that all of us "default" sooner or later but most of us brush this fact away.
Thu Apr 29 12:07:02 EDT 1999
anonymous: Thats a point,but some months ago many were happy holding cash instead of Bonds,even at 70% yields
Thu Apr 29 12:52:50 EDT 1999
anonymous: MOSCOW, April 29 (Reuters) - Russia hoped it had buried a row over an obscure website called BradyNet, which it used to guide economic policies, but an IMF demand for exlusive advisory status has reopened the issue, analysts said on Thursday. The central bank has vigorously defended the use of the BradyNet between 1992-96 to guide economic policy and denies any wrongdoing. Bank chief Viktor Gerashchenko has said there are no skeletons of Wally or Cheetah in the cupboard.
Thu Apr 29 13:13:09 EDT 1999
anonymous: Wally, could you tell me what bond could I use as a benchmark for Ecuador? Could you also explain, why Ecuador has a yield curve with a negative slope?
Thu Apr 29 13:21:39 EDT 1999
anonymous: who is wally? and where does he work? How many years in the business? let's get the facts?
Thu Apr 29 13:26:29 EDT 1999
Omar: If you have been following this site for some time you'll realize that Wally is a very helpfull and knowledgeable participant. If you're so curious about him why don't you publish your e-mail (or at least your name) and ask him yourself ?
Thu Apr 29 13:54:14 EDT 1999
Omar: Hi Anon, I follow Ecuador also and have noticed that only the ECUADOR PDI of Ecuador's non brady (eg principal not guaranteed by US zeros) papers is widely traded, the IEB and 402 are very hard to get so their quoted prices are merely "indicative". If you are using these to analyse the yield curve you might be getting the wrong data.
Thu Apr 29 14:07:03 EDT 1999
anonymous: International Monetary Fund Managing Director Michel Camdessus said the multilateral agency will announce a new loan package for Ecuador on Friday.
Thu Apr 29 14:38:54 EDT 1999
anonymous: UNITED NATIONS, April 29 (Reuters) - International Monetary Fund Managing Director Michel Camdessus said the multilateral agency will announce a new loan package for Ecuador on Friday. ``Tomorrow we will announce a major collective effort to help this country,'' Camdessus said of Ecuador while speaking at a United Nations forum.
Thu Apr 29 14:49:45 EDT 1999
wally®: <who is wally?> as simple as that: wally is just wally. <where does he work?> today he was working in his garden transplanting bushes (12 dwarf hollies, job not yet finished). <how many years in the business?> what business do you mean and what facts do you want to know?
Thu Apr 29 14:54:23 EDT 1999
anonymous: today he was working in his garden transplanting bushes>>> What, no tullips, Wally???
Thu Apr 29 14:55:52 EDT 1999
wally®: <benchmark for Ecuador> omar has answered your question. if you you have more questions do not hesitate to post them. a lot of bradynetters are quite helpful. we are sometimes a bit rough on each other but we don't consider any QUESTION as being stupid.
Thu Apr 29 14:57:58 EDT 1999
wally®: <no tullips, Wally?> don't like flowers. like trees and bushes.
Thu Apr 29 15:01:03 EDT 1999
anonymous: George Herber Walker Bush or George W. Bush????
Thu Apr 29 15:10:28 EDT 1999
anonymous: MOSCOW, April 29 (Reuters) Follow up. Please add: Gerashchenko however refused to identify those skeletons which were found. It is widely believed they are the remains of a female known as Spanky-Girl and a so-called Shorty. We will keep you posted as soon as we have the Coroner's report.
Thu Apr 29 15:15:50 EDT 1999
anonymous: Wally since when do you react to comments from anal-lysts???
Thu Apr 29 15:20:15 EDT 1999
anonymous: MOSCOW, April 29 (Reuters) follow up to follow up : "inside sources confirm that investigators were able to identify Spanky because of the reduced size of its cranium, it was thought at first that it belonged to a monkey but the President of Animal Rights International complained about the comparision and it was quickly dropped"
Thu Apr 29 15:23:28 EDT 1999
wally®: <since when..?> you could be right. something points to an ANAL-lyst (please use the correct spelling in future). four sentences, four questions. but the posting lacks the final proof which is: "on one hand..blabla and on the other hand..blabla".
Thu Apr 29 15:29:38 EDT 1999
anonymous: NEW YORK, April 29 (Reuters) - Emerging bond prices were higher on Thursday with Russian Eurobonds scoring the biggest gains after the International Monetary Fund announced a $4.5 billion package late Wednesday. But some market sources said future price gains on Russian Federation debt may be limited because of the controversies associated with the discussions in BRADYNET.
Thu Apr 29 15:34:50 EDT 1999
anonymous: NEW YORK, April 29 (Reuters) - Emerging bond prices. Follow-up. Market sources furthermore expressed serious doubts whether the rally is sustainable since one of the major players is full with Lagavulin and another one was believed to be seen working in his garden.
Thu Apr 29 15:50:13 EDT 1999
Monty: Who is Wally? Who Cares ? His comments and news bites are interesting and usually to the point. As more of a reader that a participant I find his comments of much more value than a lot of the "anons" who often have nothing of value to add to any discussion. Keep up the good work Wally, but please tell us where we should be positioned in Russian Euros now.
Thu Apr 29 15:58:17 EDT 1999
anonymous: BRUSSELS, April 29 (Reuters) - NATO confirmed on Thursday that a stray missile which wrecked a house in Bulgaria had been fired by one of its warplanes. NATO spokesman Jamie Shea told reporters the missile had gone off course on Wednesday night after being fired in response to a threat from Wally who is vigorously opposing NATO's airstrikes as the smart bombs allegedly kill innocent civilians. "That of course is not true" Jamie Shea said. "The truth is we merely have collateral damage". Shea was seconded by a German colonel, a NATO spokesman who apologised on behalf of the German people for the unprecedented behaviour of Wally who claims to be a German national.
Thu Apr 29 16:00:45 EDT 1999
anonymous: 04-29-99 Monty: (195.76.145.163) << SHORT OR FLAT!
Thu Apr 29 16:02:13 EDT 1999
anonymous: Monty; I certainly would not recommend having the "Full Monty" invested in Russian Eurobonds!
Thu Apr 29 16:03:06 EDT 1999
anonymous: 04-29-99 wally®: (205.188.199.56) <who is wally?> as simple as that: wally is just wally. <where does he work?> today he was working in his garden transplanting bushes (12 dwarf hollies, job not yet finished). <how many years in the business?> what business do you mean and what facts do you want to know? RIGHT,WHAT THEY ARE ALL ASKING...SOME PEOPLE ARE THE LIVING EXAMPLE OF IMPOLITENESS,OR FRECHHEIT
Thu Apr 29 16:04:09 EDT 1999
anonymous: OR FRECHHEIT<< never did like the French.
Thu Apr 29 16:05:37 EDT 1999
anonymous: Hi Monty,THAT you have to decide yourself,don't ask anybody.rgds.Fred
Thu Apr 29 16:07:26 EDT 1999
anonymous: Hi friend,where are your eyeglasses?Frech not French,in french it would be "culotté".
Thu Apr 29 16:08:39 EDT 1999
PILLX: INVERSECOMPARABILITYinterestingANAL.=4.5b.minus eurocashoutflow1999 http://www.moneynet.com/content/MONEYNET/CategoryNews/NewsStory.asp?Cat=INTL&SubCat=INTEMERG&ID=SF-04/29-AnN29226504@NEWS-P2&Index=5&HeadlineURL=../CategoryNews/CategoryNews.asp&DISABLE_FORM=&NAVSVC=News\Category
Thu Apr 29 16:12:51 EDT 1999
anonymous: 04-29-99 PILLX: (194.78.227.200) INVERSECOMPARABILITYin<< PHLLX. You are right on the money. The deal fell short of the $4.5 bn by the exact amount of eurobond interest payments. You figure out what is going on here.
Thu Apr 29 16:14:45 EDT 1999
anonymous: 04-29-99 Anonymous: Hi friend,where are your eyeglasses?Frech not French,in french it would be "culotté". << THey all look and smell the same. What is the big deal>=? Are you an english teacher. have a nice day :-}!!!
Thu Apr 29 16:18:40 EDT 1999
anonymous: THey all look and smell the same.WHO???Yes,english teacher,teaching German,nice day too
Thu Apr 29 16:25:16 EDT 1999
wally®: how come it is getting interesting whenever i turn my back for a short time? fred: mon ami, cool down et pense "merde alors!". monty: i do not give advice only my opinion. <russian euros> each and everything depends on your individual strategy and your beliefs (in case of russia it should read faith). every case is different, when and at what price bought, do you accept big price fluctuations without having a heart attack, etc., etc.
Thu Apr 29 16:27:55 EDT 1999
anonymous: T'a raison,mais ces connard peuvent meme pas repondre correctement,RIEN,totally illiterate.rgds.Fred
Thu Apr 29 16:29:33 EDT 1999
wally®: monty: i am quoting from website posted by pillx. russian euros: "You are damned if you do, and you are damned if you don't!".
Thu Apr 29 16:31:44 EDT 1999
wally®: fred: c'est vrai, mais calmez vous où (toi).
Thu Apr 29 16:33:41 EDT 1999
PÏLLX: 3.Commenting on the agreement reached Wednesday, Camdessus said we have been "working closely with the Russian authorities since some time and I was surprised that these comments didn't reflect this major decision."Putting squarely responsibility for the country's financial woes on the government shoulders, Camdessus added: "I remember to have personally traveled to his country to warn the authorities about the risk mounting for them."Following months of negotiations, Russia and the IMF Wednesday overcame the largest remaining hurdles to a long-awaited deal that will also probably unlock $3 billion in World Bank and Japanese aid.
Thu Apr 29 16:33:50 EDT 1999
PÏLLX: 2.Later in the session,Camdessus,appeared to have been taken back by Shapovaliants'comments given the fact that they come just a day after the Fund and Russia reached agreement on a $4.6b.aid package and a new economic plan."I heard him with a sense of unreality because I had the privilege yesterday to finalize with the Russian delegation a major financing package to help this country in fighting against the consequences of crises"Camdessussaid.Stressing his bewilderment overthe Russian minister's accusation that the international community hadn't acted quickly enough to help the country,theIMFsaid:"A major package was putin place,alas the legislative authorities didn't support this program."The IMFwas referring to a massive $11.2b. aid program approved inthe spring of1998of which only $4.8.were disbursed because offailure byRussia toimplement needed reforms.
Thu Apr 29 16:33:59 EDT 1999
PÏLLX: 1.In sharp contrast to the mild tone of a high level meetings between the United Nations,the IMF and the World Bank,Russia surprised attendants Thursday by accusing the international community of failing to respond in a timely fashion to the country's financial woes."Russia appears to have been a target of discrimination since it was the only country as far as we know among the crisis-hit countries that didn't receive timely international support,"said Andrei Shapovaliants,Russia's minister of economy.Shapovaliants was addressing the joint meeting between theU.N.Economic and Social Council and the Bretton Woods institutions. The special meeting was called to discuss how to better address financial crises and their impact on emerging markets.
Thu Apr 29 16:34:20 EDT 1999
anonymous: jo etzetli ischt was los. d'r fredi on d'r wally gonz gechaim in french. gnom vo zueri
Thu Apr 29 16:38:46 EDT 1999
anonymous: Hey gnomi,ca va??
Thu Apr 29 16:41:52 EDT 1999
anonymous: Ça va bien. gnom vo zueri
Thu Apr 29 16:46:27 EDT 1999
PILLX: Pour les Suisses==Credit Suisse First Boston, the investment banking arm of Credit Suisse Group (CSGKY), said Thursday that it has rejected terms of Russia's restructuring program for its GKOs and OFZs.The program would have affectedCSFB's proprietary positions in GKOs and OFZs. CSFB said it informed a Russian finance ministry official of its rejection on Wednesday. CSFB said it had relayed acceptances of the terms only for positions related to clients.But the investment bank said it "is at an advanced stage" in its dialogue with the Russian government on alternatives to the government's plan.CSFB is proposing that rubles and securities from the restructuring be put in a "direct investment scheme," involving foreign financing of infrastructure and other projects. This plan would support Russia's real economy and benefit foreign investors, CSFB said.
Thu Apr 29 16:47:59 EDT 1999
anonymous: fredl, host die russen gseng? goanz guat! oalles ser stabül!
Thu Apr 29 16:56:45 EDT 1999
anonymous: it's a new ballgame.....
Thu Apr 29 17:01:10 EDT 1999
wally®: PÏLLX: posted website: at least a journalist who does not add unquantified BS and who is just collecting quotes. how does the lagavulin taste today?
Thu Apr 29 17:02:48 EDT 1999
wally®: <it's a new ballgame> VERY interesting. could you tell us more?
Thu Apr 29 17:04:49 EDT 1999
PILLX: 2.He said that the possibilities for settling Sovietdebts will largely depend onthe outcome of talks with the IMF."Talks with the IMF are a priority, then come the talks withthe PC and then with the London Club,"he said.He admitted thaton14th May,when Russia is due to pay off the third tranche of MinFinbonds and make coupon payments on bonds of the 3rd-7th tranches,certain contradictions may arise between creditors who hold both Soviet and Russian bonds.Kostin said thatthere is alsoa problem in that"on the one hand,MinFin bonds belong to foreign debts and on the other,Soviet foreign debts have not been serviced since last September".In his opinion, the question of MinFin bonds that cannot be serviced in full is now being resolved by the Finance Ministry in coordination with the IMF. "There will be problems, of course, but I would not overdramatize theprocess,"he said.In the present circumstances, Russia's main task is to prevent a default and the related risk of a freeze ofRussian assets,hesaid.According to Kostin, fundamental decisions on restructuring the Russian banking system would largely promote the settlement of foreign debts and better relations with international financial institutions.
Thu Apr 29 17:05:29 EDT 1999
anonymous: Now thta they got the money they start trashing the IMF ....? "Russia appears to have been a target of discrimination, since it was the only country as far as we know among the crisis-hit countries that did not receive timely international support," Andrei Shapovalyants told a United Nations forum on Thursday. He also criticized the IMF for the "the lack of any effective or functioning early warning prevention system for financial crisis."
Thu Apr 29 17:05:54 EDT 1999
PILLX: 2.He said that the possibilities for settling Sovietdebts will largely depend onthe outcome of talks with the IMF."Talks with the IMF are a priority, then come the talks withthe PC and then with the London Club,"he said.He admitted thaton14th May,when Russia is due to pay off the third tranche of MinFinbonds and make coupon payments on bonds of the 3rd-7th tranches,certain contradictions may arise between creditors who hold both Soviet and Russian bonds.Kostin said thatthere is alsoa problem in that"on the one hand,MinFin bonds belong to foreign debts and on the other,Soviet foreign debts have not been serviced since last September".In his opinion, the question of MinFin bonds that cannot be serviced in full is now being resolved by the Finance Ministry in coordination with the IMF. "There will be problems,of course,but I would not overdramatize theprocess,"he said.Inthe present circumstances,Russias maintask is to prevent a default and the related risk of a freeze ofRussian assets, hesaid.According toKostin,fundamental decisions on restructuring the Russian banking system would largely promote the settlement of foreign debts and better relations with international financial institutions.
Thu Apr 29 17:06:15 EDT 1999
PILLX: 1.The discussion ofRussian debts totheLC of creditors has assumed a calmer tone,the chairman of Vneshekonombank [which deals with Russia's debts],Andrey Kostin,told the`Kommersant' daily.Along with Russian Deputy Finance Minister Mikhail Kasyanov,Kostin returned from London last week, where they had held debt talks with the new banking consultation committee. "Our creditors realized that Russia is incapable of servicing both Soviet debtsand Russiandebts infull,"Kostin said.Hesaid the discussion will resume after Russia reaches agreement with the IMF.Even though Russia is unable to service its foreign debts in full, it continues full payments on the new Russian debts,he said. Russia has paid 2.3bn dollars on them this year."This approach allows Russia to remain on the financial market and, to my mind, in this respect it will be simpler tosettle the remaining debt sectors," Kostin said.
Thu Apr 29 17:06:38 EDT 1999
PILLX: 2.He said that the possibilities for settling Sovietdebts will largely depend onthe outcome of talks with the IMF."Talks with the IMF are a priority, then come the talks withthe PC and then with the London Club,"he said.He admitted thaton14th May,when Russia is due to pay off the third tranche of MinFinbonds and make coupon payments on bonds of the 3rd-7th tranches,certain contradictions may arise between creditors who hold both Soviet and Russian bonds.Kostin said thatthere is alsoa problem in that"on the one hand,MinFin bonds belong to foreign debts and on the other,Soviet foreign debts have not been serviced since last September".In his opinion, the question of MinFin bonds that cannot be serviced in full is now being resolved by the Finance Ministry in coordination with the IMF. "There will be problems,of course,but I would not overdramatize theprocess,"he said.
Thu Apr 29 17:07:07 EDT 1999
PILLX: 3.Inthe present circumstances,Russias maintask is to prevent a default and the related risk of a freeze ofRussian assets, hesaid.According toKostin,fundamental decisions on restructuring the Russian banking system would largely promote the settlement of foreign debts and better relations with international financial institutions.
Thu Apr 29 17:07:29 EDT 1999
anonymous: Analysts said that it would be hard for Russia to meet many of the IMF's conditions, both because powerful banks would oppose restructuring and because the Communist-dominated State Duma was unlikely to back unpopular reforms. Parvoleta Shtereva, fixed-income and currency strategist with MFK Renaissance, an investment bank, said that the IMF was likely aware Russia would not be able to implement many conditions for the loan. But it had been forced to announce some kind of deal for political reasons f the West is reluctant to be seen to abandon Russia completely. "By now it is clear to everybody that Russia's economic program is based on fictitious assumptions," Shtereva said. "It's a gamble on part of the IMF.<<MOSCOW TIMES.. OUCH!!!
Thu Apr 29 17:08:43 EDT 1999
anonymous: jo freili hob i di gsen,da schaugns die bledn Teppn wo olls denka sging ind orsch
Thu Apr 29 17:09:47 EDT 1999
anonymous: Analysts said that it would be hard for Russia to meet many of the IMF's conditions, both because powerful banks would oppose restructuring and because the Communist-dominated State Duma was unlikely to back unpopular reforms. Parvoleta Shtereva, fixed-income and currency strategist with MFK Renaissance, an investment bank, said that the IMF was likely aware Russia would not be able to implement many conditions for the loan. But it had been forced to announce some kind of deal for political reasons f the West is reluctant to be seen to abandon Russia completely. "By now it is clear to everybody that Russia's economic program is based on fictitious assumptions," Shtereva said. "It's a gamble on part of the IMF.<<MOSCOW TIMES.. OUCH!!! EURO COUPIES IN DOUBT, SCOUT!!
Thu Apr 29 17:11:47 EDT 1999
anonymous: OUCH!!! EURO COUPIES IN DOUBT, SCOUT!! ok,either you are short,and lost big,or you are just a wichser from Königswinter
Thu Apr 29 17:14:55 EDT 1999
anonymous: ralf.vielhaber@bertelsmann.de
Thu Apr 29 17:16:17 EDT 1999
anonymous: what mean wichser? i not from japanese. many greets to all. tofu
Thu Apr 29 17:18:19 EDT 1999
wally®: tofu: what your language or home country. we can not help if we do not know.
Thu Apr 29 17:18:58 EDT 1999
anonymous: http://www.fireball.de/ look it up yourself
Thu Apr 29 17:19:11 EDT 1999
anonymous: One problem for Russia is that the $4.5 billion loan will be spread over 18 months. One Finance Ministry official, who asked not to be named, said Russia expected to receive only $1.5 billion to $2 billion this year. This means the loan will not even be enough to cover the $3.5 billion that Russia has to repay to the IMF by the end of the year. The IMF will thus actually be reducing the total amount of its exposure to Russia. << Moscow Times, This is a DISASTER if it is true!!!
Thu Apr 29 17:20:00 EDT 1999
anonymous: der will uns nur verarschen,der Depp
Thu Apr 29 17:20:25 EDT 1999
anonymous: Analysts said that it would be hard for Russia. Why can't Reuters adopt the 'Wally spelling' that is my question.
Thu Apr 29 17:21:24 EDT 1999
anonymous: << Moscow Times, This is a DISASTER if it is true!!! GO SHORT MAN WHERE IS THE PROBLEM?
Thu Apr 29 17:28:48 EDT 1999
PILLX: WALLY,if you give me the autorisation...Today no LAGAVULINE,later I go out to Brussels to the 144 it is on the av.Louise 144,it will be normal W.,but in the 144 no Russia no bonds no yield no ANAL no brady only a combination of a barrestaurantnight and in majority happy peoples,Wally i'm not journalist, i started my life at 18 in the navy 7 years... When we meet one day i tell how i came to the finance
Thu Apr 29 17:33:58 EDT 1999
anonymous: 144,av.Louise,Bruxelles,nice!Good luck for the parking place
Thu Apr 29 17:35:16 EDT 1999
anonymous: I think Wally spelling is currently protected pending registration as trademark for certain professionals. dolores {the real ugly}
Thu Apr 29 17:36:56 EDT 1999
wally®: pillx: have a good time and take a taxi.
Thu Apr 29 17:39:17 EDT 1999
anonymous: wally spelling nice and making no mistakes you no worry about that
Thu Apr 29 17:43:42 EDT 1999
anonymous: But getting the Duma to approve the necessary legislation is far from certain, according to parliamentarians in Moscow, who note such reforms are unpopular in an election year. << Rueters. You gettin the message, MONTY?
Thu Apr 29 17:50:23 EDT 1999
anonymous: << Rueters. IST DAS EINE FILIALE VON FUCHSBRIEFEN?RUETERS?
Thu Apr 29 17:55:28 EDT 1999
anonymous: Hey Ralfie,wie gehts den so?Deine Artikel werden immer besser,die Sache mit den Immobilien,nicht schlecht,weiter so.Grüße
Thu Apr 29 18:06:10 EDT 1999
anonymous: Are you nervous yet, GIRLS?
Thu Apr 29 18:16:02 EDT 1999
Cheetah: it's a new ballgame... reactions are allways delayed in Russia... denial is kicking up, anal-ysts have to find something negative initially (to cover previous mistakes) BUT will immediately qualify the negative and TURN POSITIVE - probably going to see 50 prices on euro's === BUY while you can still BID...
Thu Apr 29 18:32:35 EDT 1999
wally®: cheetah: YOU are allowed to use "wally spelling" effective immediately without paying royalties. eat your guts reuters, you have to pay.
Thu Apr 29 18:34:38 EDT 1999
wally®: <Are you nervous yet, GIRLS?> slightly less than last year oct.
Thu Apr 29 18:37:57 EDT 1999
anonymous: OUCH!!!! I see all Russian Euros up. Why? Nobody listens to me!
Thu Apr 29 18:43:41 EDT 1999
wally®: NEW YORK, April 29 - Fitch IBCA, the international rating agency, has placed the 'CC' Long-term ratings of Russian oil producer OAO Tatneft and financing vehicle Tatneft Finance plc on Rating Alert negative. The action follows today's announcement by OAO Tatneft that it would not make an interest payment due today on its USD300m Eurobond. well that's what i call a fast move. we all should read more Bitch & ASS-sociates; much more accurate information than on BRADYNET.
Thu Apr 29 18:50:19 EDT 1999
anonymous: WASHINGTON, April 29 (Reuters) - New International Monetary Fund loan payments to big borrower Russia will go straight to a Russian account at the IMF so it can be used to repay old debt, according to the unusual terms of Wednesday's deal. OUCH!!!!!!
Thu Apr 29 18:52:20 EDT 1999
Cheetah ?: and TATNEFT stock was up today ?
Thu Apr 29 18:59:03 EDT 1999
Cheeta : hey OUCH, Tatneft says it defaults and it's ADR's go up ? ANALyse THAT !
Thu Apr 29 20:20:54 EDT 1999
anonymous: BradyNet is taking a breather?
Thu Apr 29 20:22:45 EDT 1999
anonymous: yea, there are times to shut up and times to put up. queen of shebah.
Thu Apr 29 20:25:33 EDT 1999
anonymous: 04-29-99 Cheetah ?: (206.49.128.184) and TATNEFT stock was up today ?<< Guess you were buying it today, huh, CHeat?
Thu Apr 29 20:31:14 EDT 1999
anonymous: ouch!!! ouch!!! ouch!!! ouch!!! color of the market is down!!!
Thu Apr 29 20:41:54 EDT 1999
anonymous: UNITED NATIONS (AP) - A day after the International Monetary Fund reached agreement with Russia on an economic reform program, Russia's economic minister accused the international community of failing to respond quickly to his country's financial crisis - astounding IMF Managing Director Michel Camdessus. Andrei G. Shapovaliants was critical of Wednesday's agreement in principle on an economic plan and $4.5 billion in new IMF loans to Moscow, complaining that the package was not large enough to pay wally®, PÏLLX, and Cheetah the interest due them on their eurobonds. Russia had suffered bad insults on the BradyNet earlier this year because these BradyNetters had bought their positions 60 points higher. Camdessus said afterward that he listened to the criticism "with a sense of - I don't know - unreality." He said he was surprised that the minister didn't to SPANKY saying that he had warned the trio of the pain to come. "I must tell him with a little bit less humor that I was surprised (to hear) that we have not been able to warn and to bail-out the "terrible trio," Camdessus told the meeting, attended by ministers and high-level representatives of the BradyNet.
Thu Apr 29 20:42:36 EDT 1999
anonymous: UNITED NATIONS (AP) - A day after the International Monetary Fund reached agreement with Russia on an economic reform program, Russia's economic minister accused the international community of failing to respond quickly to his country's financial crisis - astounding IMF Managing Director Michel Camdessus. Andrei G. Shapovaliants was critical of Wednesday's agreement in principle on an economic plan and $4.5 billion in new IMF loans to Moscow, complaining that the package was not large enough to pay wally®, PÏLLX, and Cheetah the interest due them on their eurobonds. Russia had suffered bad insults on the BradyNet earlier this year because these BradyNetters had bought their positions 60 points higher. Camdessus said afterward that he listened to the criticism "with a sense of - I don't know - unreality."
Thu Apr 29 21:20:49 EDT 1999
anonymous: WASHINGTON, April 29 - The United States said on Thursday it was working to give the international war crimes tribunal quick evidence of atrocities committed in Bradynet by GR on Wally, PILLX and Cheetah but the task was "complicated." State Dept. James Rubin made the comment as U.N. war crimes prosecutor Louise Arbour held talks in Washington on what she needs to bring to justice those responsible for the ethnic cleansing of Bradynet. She held meetings with Defense Secretary William Cohen and with several senior State Department officials: David Scheffer, who handles war crime issues; James Dobbins, the department's Kosovo specialist, and Robert Gelbard, whose specialty is Bosnia.
Thu Apr 29 21:24:15 EDT 1999
anonymous: TOKYO, April 30 - Japan's unemployment rate hit a record high of 4.8 percent in March, up from February's 4.6 percent, the previous record, the government's Management and Coordination Agency said on Friday. Corporate restructuring and resulting cuts in payrolls were a key factor pushing up the jobless figure, an agency official said. "Many firms still have excessive work forces. (The rise in the March jobless rate) is most likely a result of the anomymous OUCH!!!-man," he said.
Thu Apr 29 21:27:12 EDT 1999
anonymous: FRANKFURT, April 29 - Deutsche Lufthansa AG posted a 66 percent fall in net profit in the first quarter of 1999 and warned that the year's operating profit would fail to match 1998's level mainly due to the reason that Fred and Gnom prefer to fly Swissair or Air France.
Thu Apr 29 21:28:36 EDT 1999
anonymous: What is going on here?????????
Thu Apr 29 21:30:33 EDT 1999
anonymous: PARIS, April 29 - Theme park operator Euro Disney announced on Thursday a widening loss in the first half, blaming an expected rise in charges after a financial restructuring and a partial resumption of royalties to The Wally Disney Co.
Thu Apr 29 21:35:28 EDT 1999
anonymous: WASHINGTON (Reuters) -- A unique type of brain cell seems to separate BradyNetters from humans, apes from lower animals, and may make them smarter, scientists say. But the eurobond neuron clusters come at a price -- they may make us susceptible to diseases such as denial, the researchers at the California Institute of Technology and Mount Sinai School of Medicine in New York said. The high yield eurobonds found on the BradyNet, but not any other type of animal, Patrick Hof of Mount Sinai and his colleagues report in this week's issue of the Proceedings of the National Academy of Sciences.
Thu Apr 29 21:35:40 EDT 1999
anonymous: BELGRADE, April 29 - Yugoslavia, under a fresh onslaught of NATO bombs, went to the World Court in the Hague on Thursday to demand a halt to attacks by the Western alliance. The United States dismissed the move as "absurd and frivolous", pledged to defend itself vigorously, and said it would intensify its air campaign and send 10 more B-52 bombers to the battle area in Bradynet to combat and subdue treacherous insurgents.
Thu Apr 29 21:41:31 EDT 1999
anonymous: SACRAMENTO, Calif.--(BUSINESS WIRE)--April 29, 1999--Twenty-four local government and school district projects received funding today from the California Integrated Waste Management Board in the form of grants totaling $534,000 for playground surfacing and running tracks made from recycled tires. The awarding of these grants coincides neatly with the concerns and goals of West Coast Bradynetters who are not aware that color of the market is back.
Thu Apr 29 21:42:56 EDT 1999
anonymous: New York, April 23 (Bloomberg Lifestyles) -- The new Romeo y Julieta Exhibicion No. 3 cigar, manufactured in the Dominican Republic by Tabacalera S.A., was voted a good buy by five of six BradyNet cigar panelists in a recent taste testing.
Thu Apr 29 21:45:54 EDT 1999
anonymous: Wally, You are very famous now. All over the news!
Thu Apr 29 21:46:23 EDT 1999
anonymous: The best is Wally Disney Co!!!
Thu Apr 29 21:51:37 EDT 1999
anonymous: SAN DIEGO--(BUSINESS WIRE)--April 29, 1999-- Milberg Weiss today announced that a class action entitled Knisley v. McKesson HBOC, Inc., Case No. C-99-2022-MEJ, has been commenced in the United States District Court for the Northern District of California on behalf of those Bradynetters who's eurobond neuron clusters were diffamed. Rumor has it that the law suit calls for 10 billion dollars in punitive damages.
Thu Apr 29 21:57:56 EDT 1999
anonymous: An IMF spokeswoman said on Thursday that the Russian government would ask the fund to transfer a payment -- denominated in the fund's Special Drawing Rights quasi currency -- directly to Russia's own account at the IMF rather than paying dollars to the Russian Central Bank.
Thu Apr 29 21:58:00 EDT 1999
anonymous: SAN DIEGO--(BUSINESS WIRE)- ctd. The complaint charges certain individuals with violations of the federal securities laws by making misrepresentations about Bradynetters - especially those who have faith in Russia-. By issuing these allegedly false and misleading statements, the defendant artificially deflated russian euros, hence causing troubled operations, diminished profitability and false financial statements.
Thu Apr 29 22:01:54 EDT 1999
anonymous: come on neuron cluster man. you are good. really enjoy crossing swords with you.
Thu Apr 29 22:02:59 EDT 1999
anonymous: you are the best, really.
Thu Apr 29 22:09:29 EDT 1999
anonymous: WASHINGTON, April 27 (Reuters) - The United States and Japan called on Tuesday for large International Monetary Fund (IMF) gold sales to finance debt relief as financial officials met amid relief that the global economic crisis has eased. Addressing the IMF's policy-making Interim Committee, U.S. Treasury Secretary Robert Rubin supported the IMF's selling up to 10 million of its 103-million-ounce stockpile and Japanese Finance Minister Kiichi Miyazawa advocated selling even more but was then convinced by GOLDBUG not to waste the 'Center of the Financial Universe'. And now everybody MULLS how to proceed.
Thu Apr 29 22:12:39 EDT 1999
anonymous: what over?? keep on you two!!!!!!!!!!!!!!!
Thu Apr 29 22:13:53 EDT 1999
anonymous: BRASILIA, April 29 (Reuters) - Flagging on a lack of fresh revelations, Daniel's inquiry into a BradyNet scandal involving Anonymous insurgents took a back seat to the hilarious postings and roasting of some of the BradyNet's top superstars. Daniel said it is all in good fun, but the bottom line is the bottom line, so let's get back to making money. He also stressed that though BradyNetters are often very hard on eachother, nothing is personal and that participants are the closest of cyber friends!
Thu Apr 29 22:28:34 EDT 1999
anonymous: BRUSSELS, April 29 (Reuters)- An unidentified man was found guilty of fraud by a Brussels Night Magistrate after trying to pay a huge bill -he ran up in a famous nightspot after consuming caviar and scotch- with soviet era Ministry of Finance Bonds (Tranche 3). The presiding judge handed down a lenient sentence as he himself is a holder of Russian Eurobonds and a firm believer in Gerashchenko and Camdessus.
Thu Apr 29 22:31:55 EDT 1999
wally®: <so let's get back to making money> how? markets are closed. tokyo, hongkong and singapore are waiting for london to open.
Thu Apr 29 23:54:47 EDT 1999
PILLX: oooow,big migrene,when you put your money on a horse in the Grand National you have 20 minutes of great fun and typically walk away with nothing,when you invest in Russia you can experience a similar thrill of the ups and downs over one or two years and probably walk away with something respectable at the end of it. As long as you are prepared to invest what you can afford to lose,it is an interesting diversification
Fri Apr 30 00:00:08 EDT 1999
Bubi: to tofu : the meaning in spanish is "pajero", but you know in german they are very familiars!
Fri Apr 30 00:03:15 EDT 1999
Tito: In a fine piece of investigative journalism, Kommersant newspaper this Wednesday revealed some interesting things about FIMACO, the offshore vehicle, to which the Central Bank shunted some of Russia’s foreign currency reserves from 1990-98. In early 1996, FIMACO enabled secret use of these reserves to buy GKOs, giving the government the money it needed to boost Boris Yeltsin’s election campaign by paying off wage arrears, handing out soft credits, etc. Foreign investors saw there was money to be made and jumped on the bandwagon. So this week we have seen both where the bubble began, and where it ended.
Fri Apr 30 00:28:30 EDT 1999
PILLX: Russian President Yeltsin chairs a Kremlin session to seek ways to maintain and upgrade the nation's nuclear arsenal despite the lack of money. Russia's nuclear forces "have been and remain the key element in the strategy of ensuring national security and military might of the country," Yeltsin says at a meeting of the presidential Security Council. The council's secretary Vladimir Putin says after the meeting that Russia will act like other nations, "moving ahead in the sensitive sphere of testing nuclear arsenals while honoring international agreements." Yeltsin stresses that Russia must keep a sufficient number of nuclear weapons to guarantee its security.
Fri Apr 30 00:32:04 EDT 1999
PILLX: http://biz.yahoo.com/rf/990429/bzs.html
Fri Apr 30 00:43:13 EDT 1999
anonymous: This site is getting better and better: the analysis is not bad, when people are serious; it is at times very entertaining; it is harsh and often better than a political food fight talk show; it has a cast of characters, second to none (who is this Spanky and Ralfie?). I think the Wally Disney Company should do a movie based on the BradyNet website. Seriously, folks!
Fri Apr 30 01:31:37 EDT 1999
anonymous: 04-29-99 wally®: (152.163.205.82) <so let's get back to making money> how? markets are closed. tokyo, hongkong and singapore are waiting for london to open. <<http://www.cme.com/cgi-bin/gflash.cgi

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