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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: Alex who wrote (47852)	2/4/2000 8:03:00 AM
From: long-gone	Read Replies (1) of 116756

Does Brazil produce gold or other commodities used by more local gold producing countries? Ex-cenbank chief charged in Brazil bank scandal (Adds day Lopes was charged in graf two) RIO DE JANEIRO, Feb 3 (Reuters) - The former head of Brazil's Central Bank and other top financiers have been charged in connection with a banking scandal that embarrassed the government last year, federal police said on Thursday. Francisco Lopes, the Central Bank's governor during last January's shock currency devaluation, was charged Wednesday with embezzling public funds following a decision to try to bail out two Rio-based investment banks. The two banks had bet heavily against the devaluation and would have suffered heavy losses on the foreign exchange futures market had the Central Bank not stepped in to sell them dollars at below-market rates. One eventually folded anyway. Central Bank directors who testified in a high-profile Senate probe (cont) biz.yahoo.com

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