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

To: Rarebird who wrote (59064)	9/29/2000 7:45:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116762

<<Am I missing something? Is there a cogent bullish argument for gold here? >> There is less gold existing in the public sector for possible sale or loan that was before known: Less overhang might mean lower future supply - but I've always said as this cycle winds to an end piles of gold will show up as gone missing....or "long-gone" 9:55p EDT Thursday, September 28, 2000 Dear Friend of GATA and Gold: Thanks to a Dutch friend for translating the following article and emailing it to us. One more strange thing happening in the world of gold. CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. * * * Surinam secretly sold its gold stock De Financieel Economische The Netherlands September 28, 2000 The former Surinam government sold in secret almost the whole gold stock of the central bank. Of the 7,646 kilograms of gold that stands in the books, only 147 kilograms are still present. This according the the NRC Handelsblad, which refers to Surinam Minister of Finance Humphrey Hildenberg. On the basis of the current price, the gold sale made Fl165 million (75 million euros) vanish. It is not clear what happened to the money. Hildenberg said in parliament that at the sale it was arranged that Surinam could buy back the gold in due time. But he added that Surinam could forget about this gold because it doesn't have the disposal of enough money for a buyback. Hildenberg also said that Surinam has a foreign debt of $380 million (430 million euros, but that the Finance Department hasn't got a clear view of the precise nature of these debts. Numerous payments happen via "all sorts of links" and the former government had no central overview of all these commitments. The Minister has now instructed that all payments should pass through his department. Among other things, the two bridges that former President Wijdenbosch had built weigh heavy upon the budget. The construction company Ballast Nedam says the state still has to pay $24 million for that. But Hildenberg could not have confirmed this by his own administration. Parliament reacted indignantly to the statements of the minister. Member of parliament Fred Derby pleaded for prosecution and confinement of Henk Goedschalk, the former director of the central bank. His colleague Jiwan Sital asked for explanation of the national debt, which, according to the government audit office, is $100 million lower than the amount the minister quoted.