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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.87

+3.6%

Dec 11 4:00 PM EST

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To: Hawkmoon who wrote (57717)	8/31/2000 7:41:59 AM
From: long-gone	of 116813

The Last Straw in Russia Joe Uliana September 2, 1999 On March 18th, then Treasury Secretary Robert Rubin informed Congress that much of a $4.8 billion loan package extended last year by the International Monetary Fund (IMF) to help prop up the Russian economy “may have been siphoned off improperly.” While Rubin tried to parse his words afterward, his testimony should have been big news. It confirmed the worst suspicions of many that the IMF and United States policy in Russia was doing nothing to help the Russian economy, but was just lining the pocket of the oligarchs. It also should have been a wake-up call to stop the extension of an additional $4.5 billion in loans requested by Russia to help make their scheduled debt payment to the IMF in 1999 - but that didn’t happen. A few weeks ago, the IMF approved the first installment of $4.5 billion loan package that had been negotiated as a thank-you gift for Russia’s helpful behavior in NATO’s war in Kosovo. Now a firestorm is rightly brewing. Law enforcement sources are reporting that much of the IMF’s loan money over the past seven years has been stolen and laundered out of the country by the oligarchs who surround President Boris Yeltsin. The Bank of New York, one of the countries oldest banks, is being investigated for its role in helping to launder some of the money. It is estimated that almost $10 billion in foreign aid has been stolen and taken out of the country. A fleecing of this magnitude has rarely been seen in history of civilization. Not since Alexander the Great looted Darius’s palace at Persepolis of the wealth of the Persian Empire has so much be taken from a country against its will. (cont) newsmax.com

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