Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (39098)	8/16/1999 12:34:00 PM
From: Alex	Respond to of 116789

IMF SEES DIFFICULTY RAISING FINANCING FOR DEBT RELIEF By Heather Scott ÿÿÿÿÿWASHINGTON (MktNews) - Facing staunch opposition in the U.S. Congress to planned sales of gold reserves, the International Monetary Fund acknowledged Friday that lack of financing could delay implementation of improvements in the debt relief initiative for the world's poorest countries. ÿÿÿÿÿThe IMF board met August 5 to review a report from staff of the IMF and World Bank on proposed improvements and expansion of the Heavily-Indebted Poor Countries initiative. ÿÿÿÿÿBut in a telling statement, "Directors underscored that decisions on the enhancements to the initiative need to proceed in parallel with agreement on additional financing -- not yet secured -- for the Fund's contribution to the HIPC initiative." ÿÿÿÿÿAside from that statement, the IMF board avoided the issue of financing and potential gold sales. ÿÿÿÿÿThe IMF reached agreement with members to sell 10 million ounces of gold from reserves to finance the initiative to forgive debt of those poor countries that qualify by implementing market-oriented economic reforms. So far only two countries have received relief of just eight that have qualified. ÿÿÿÿÿBut despite that agreement, key members of Congress have said they will block any move to sell gold reserves. The opposition is largely based on concerns that massive gold sales will severely erode prices on international markets, and harm South African gold miners, among others. ÿÿÿÿÿThe Clinton administration has virtually acknowledged that it will have to find an alternative source of financing for the program. Lack of U.S. support would essentially veto the IMF plan. ÿÿÿÿÿIn its statement, the IMF board also noted the need "for all creditors, including the non-Paris Club bilateral creditors, to participate fully and equitably in an enhanced (debt relief) framework." ÿÿÿÿÿIn addition, they said the program must take into consideration the need for increased poverty reduction, and supported front-loaded, interim assistance to broaden the pool of countries qualifying for the program and to provide resources for more social programs. ÿÿÿÿÿ Market News International Washington Bureau: (202) 371-2121 07:16 EDT 08/16 ¸ 1999 Market News International, Inc. economeister.com

To: John Hunt who wrote (39098)	8/16/1999 10:54:00 PM
From: John Hunt	Read Replies (2) \| Respond to of 116789

Housing Prices Go Through Roof In Silicon Valley << Silicon Valley was mostly orchards when Ronald and Ruth Moore moved here in the 1950s. Their cozy three-bedroom ranch house, which they bought for $22,500 in 1962, was one of the first on a tract located not much of anywhere. Now, Apple Computer is less than a mile away, the Moores live in tech central, and their property is a gold mine. In a real estate world so surreally hot that buyers bid millions for small houses, the Moores no longer pick up the phone when it rings. Most calls, after all, are from hungry real estate agents, asking them, please, please, to sell. "They say, 'If in the future or if now you're thinking of selling, we'd like an opportunity to talk to you,' " said Ruth Moore, 68. "Or they say, 'We have someone who is desperately looking for a house just like yours.' " >> ... cont'd at ... sightings.com Inflation ... Can't be ... the Government would lie to us, would they? < g >