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To: long-gone who wrote (57643)	8/27/2000 11:28:44 AM
From: Alex	Respond to of 116753

China To Set Up Gold Exchange By Early 2001- Report BEIJING (Dow Jones)--China's central bank is expected to loosen its monopoly on buying and selling gold and set up a local spot market by early next year, state media reported Sunday. The official China Daily Business Weekly said a local gold exchange - as a first step toward gold market deregulation - is widely anticipated to be set up "at the end of this year or the beginning of next year in a city yet to be named." The gold exchange will replace the monopoly by the People's Bank of China over nationwide gold production, purchasing and allocation, the report said. Last December, China began to ease the bank's monopoly control on silver sales, setting up a trial exchange in Shanghai, which is restricted to local buyers and sellers. However, the spot silver market was widely regarded as a pilot exercise for setting up a similar spot gold market. Such a market is eventually expected to support an increase in gold imports as local investors turn to bullion as an alternative to low-interest deposits and securities as investment products. "Gold sales are expected to be opened completely and individuals will be allowed to hold, buy and sell gold products, such as bullion, for saving and investment," the report said, citing State Council National Economic Research Institute Director Fan Gang. The institute is a think tank which advises the State Council, which serves as a cabinet under China's political structure. World Gold Council statistics quoted in the Business Weekly report estimate domestic demand for gold in China rose 1% on year to 102.5 metric tons in first half 2000. Gold for jewelry is the main source of local demand. The People' Bank of China now holds about 400 tons of gold, less than 3% of the country's $158.6 billion in foreign reserves at the end of June 2000, the report added. The central bank currently buys gold at a fixed price of 76.3 yuan ($1=CNY8.28) per gram, having adjusted its price nine times in the past 20 months - in line with fluctuations in the world price. asia.biz.yahoo.com

To: long-gone who wrote (57643)	8/27/2000 10:40:14 PM
From: Rarebird	Read Replies (4) \| Respond to of 116753

OT Richard, Bush is completely unprepared to run this country. His statement at the Republican National Convention that "some military units are not currently prepared to fight a war," was completely wrong and an insult to US Military Operations and Personnel. You call Bush a Commander in Chief!!!!!!!!! Bush is losing a tremendous amount of credibility amongst the American people as each day passes. This reminds me of his father who had the gaul to tell the American People in 1992 that everything was beautiful while this country was going through a mild recession. Bush is no leader. By Bob Kemper Chicago Tribune Staff Writer August 27, 2000 7:45 p.m. CDT AUSTIN, Texas -- Republican presidential nominee George W. Bush was wrong when he charged in his convention speech that some military units are not currently prepared to fight a war, Bush's running mate, Richard Cheney, conceded Sunday. Cheney acknowledged in a series of television interviews that Bush had used out-of-date data when he charged Aug. 3 that two of the Army's 10 divisions had deteriorated under the watch of the Clinton administration to the point that they are not prepared for battle. "If called on by the commander-in-chief today," Bush told the convention, "two entire divisions of the Army would have to report, "Not ready for duty, sir."' Those remarks were based on an Army report done last year. And while it was true then that the divisions were over-extended and temporarily could not meet combat readiness requirements, conditions have improved and both now are ready to fight, former and current defense officials have said.

To: long-gone who wrote (57643)	8/28/2000 12:11:09 AM
From: Alex	Respond to of 116753

India Extends Repayment Facility for Gold Bond to Sept 2001 NEW DELHI, Aug 28 Asia Pulse - Indian Government has extended the repayment facility for the holders of Gold Bond, 1998 to September 14, 2001. The Reserve Bank of India (RBI), country's central bank, alone would handle repayment of outstanding bonds after September next year, taking over from State Bank of India (SBI), which is currently handling the repayment facilities, an official release said here Friday. "To avoid any inconvenience to them (holders), facilities for delivery of gold towards repayment of these bonds at specified branches of State Bank of India as per the option exercised by these holders at the time of investment, has been extended upto September 14, 2001," it said. Thereafter, the respective Public Debt Office of the RBI will alone handle the repayment of outstanding bonds, it said. (PTI) asia.biz.yahoo.com