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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: long-gone who wrote (3895)3/4/1999 11:30:00 PM
From: banco$  Read Replies (2) of 81092
 
Senator Against Selling IMF Gold (Rubin is urged to join in opposition)

Thursday March 4
RENO, Nev. (AP) -- A proposal to sell some of the International Monetary Fund's vast gold reserves would be disastrous for Nevada's mining industry as well as the emerging countries the IMF is trying to help, Sen. Richard Bryan said Thursday.

Putting additional gold on the open market would drive low prices even lower in an industry already reeling in Nevada and the West, the Nevada Democrat said.

Bryan, who sits on the Senate Banking Committee, met Tuesday night with Treasury Secretary Robert Rubin to urge him to join in opposition to such a plan.

''He promised to take a look at it,'' Bryan said.

The senator said he also told the treasury secretary that such a selloff could harm poorer countries that produce gold.

full story - biz.yahoo.com
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