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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (8413)	10/24/2002 8:16:44 PM
From: pogbull	Respond to of 89467

Duplicate: Malaysia pushes for 'gold dinar' KUALA LUMPUR: Posted by 4figureAU siliconinvestor.com Malaysia will set up a secretariat to study and promote the use of the gold dinar as currency for international trade if the cabinet agrees, Prime Minister Mahathir Mohamad said yesterday. Mahathir was responding to a request by a delegate from the Iranian central bank at an international seminar on the "Gold Dinar in Multilateral Trade" here. "If the cabinet agrees, then the Malaysian central bank will set up this secretariat," he told reporters after officially closing the seminar. Iran has expressed its support for the use of the gold dinar which, according to Islamic law, is roughly equivalent to 4.3 grams. Its value is based on world demand for gold. Mahathir, who is also finance minister, floated the idea in March, saying it could help prevent a repeat of the financial crisis which devastated Asia in 1997-1998, which he blames on "greedy" currency traders. Mahathir's economic adviser Nor Mohamed Yakcop said in August that Malaysia expected to use gold dinars for trade with Islamic countries from mid-2003 and was already discussing the system with certain Islamic nations. The move would be a strong step forward to unite Muslim nations, he said. Mahathir said yesterday he had his eye on a few potential partners and that they were Muslim countries with strong and stable economies, but he did not name them.

To: Jim Willie CB who wrote (8413)	10/24/2002 8:40:49 PM
From: pogbull	Respond to of 89467

Goldcorp purchased 19,990 ounces of gold bullion To:russwinter who started this subject From: Canuck Dave Thursday, Oct 24, 2002 6:13 PM Respond to of 5306 Interesting tidbit from Goldcorp's earnings report. Goldcorp purchased 19,990 ounces of gold bullion during the quarter at an average price of $306.25 per ounce. In other words, they're not only not hedging, they're buying the dips in their own product. This is in addition to withholding some of their supply from market. Sounds good to me. CD