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To: goldsnow who wrote (59030)9/27/2000 8:51:23 PM
From: The Vet  Respond to of 116762
 
goldsnow, if the US even hinted that they would like the Australian government to sell their gold they would fall over themselves in the rush to comply.

The saying "all the way with LBJ" in Australia was coined by the anti-war movement when Australia entered the Vietnam war at the US request. No other country was silly enough to get into that mess, and I assume that the US' loyal minions in Canberra jumped to the fore on the gold sale issue as well.

Note that others like Tony Blair have followed on gold so obviously Clinton has had more power and influence than LBJ as Britain kept out of Vietnam to the best of my knowledge.

The official reason for the Aussie gold sale was that old joke about gold being a "non-productive asset". The result on the Aussie dollar has been extremely "non productive" as well and all Australians are paying for it.... and losing all of their decent assets to any overseas company with USD who could buy up the whole country for petty cash if they desired.



To: goldsnow who wrote (59030)9/28/2000 12:12:39 AM
From: long-gone  Read Replies (1) | Respond to of 116762
 
<<Alex, could you please (anyone) explain to me what benefit Australian shareholders/taxpayers (and $A) have derived from selling their Gold few years back? Perhaps they needed sale to finance Exuberantly Expensive Sydney Olympics? :)>>

I've heard some say it is related to socialized healthcare costs