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To: Phil Jones who wrote (35562)	6/18/1999 7:59:00 PM
From: John Hunt	Read Replies (1) \| Respond to of 116790

North Korea accuses U.S. of trying to unleash new Korean War << North Korea accused the United States on Friday of trying to unleash a new war on the Korean peninsula by deploying advanced weapons and provoking South Korea to fire on North Korean naval ships this week. ''The touch-and-go situation is now created in the Korean peninsula where a war may break out any time,'' North Korea's U.N. Ambassador Li Hyong Chol warned in a letter to the U.N. Security Council ... more ... >> abcnews.go.com ***** << Could someone explain why the IMF is so intent on selling gold rather than simply giving out U.S. dollars? >> Hi Phil, As I understand it the gold is carried on the IMF books at $42 and when sold at say $260 gives them more bucks on the books to play with ... I also think that they operate like a regular bank and can loan out many times any increased amount of their reserves. (Not sure if this applies when the money is held in trust like this ... ie whether it is counted in the reserves) I think the interest on these 'trust funds' will probably be credited to payments on IMF loans outstanding, so it is really funny money accounting. If I am wrong, I hope someone will correct me. John

To: Phil Jones who wrote (35562)	6/18/1999 9:59:00 PM
From: d:oug	Read Replies (1) \| Respond to of 116790

Phil, <<why IMF sell gold rather than simply giving out U.S. dollars? >> Its quite simple, its a political decision, not an economic one. The only times the high and full of themselves political leaders really do the correct type of help for the poor folks is after these political leaders do a royal screw job onto the regular folks and make them poor folks. But only if they can get some good press to help their next reelection. As for the USA Congree pass or not the IMF sale, it could be known now thru Rep vs Dem if one side could predict doom or not with status quo. As in Its the Economy Stupid battle cry, if bubble pops then new USA pres will be Dem, ..... (later) oops, i mean Rep. I only voted once in my long life as born in usa cit and only after someone gave me $5 to do so and since secret vote, i did the opposite payed for wonderful, ain't it doug