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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Grandk who wrote (62808)	1/26/2007 7:24:09 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 116555

Maybe we can get TJ to expound on the merits of Chinese women vs. Japanese women. Personally, I find the debate fascinating. To me, Chinese women are generally more beautiful. -g-

To: Grandk who wrote (62808)	1/26/2007 8:08:57 PM
From: mishedlo	Respond to of 116555

Brown accused over gold sales ECO-UK-GOLD-SALE Brown accused over gold sales LONDON, Jan 25 (KUNA) -- Britains Chancellor of the Exchequer (Finance Secretary) Gordon Brown was accused in the House of Commons Thursday of losing the equivalent of over 4.5 billion dollars by selling gold assets when prices were low. Britains main opposition Conservative MP David Heathcoat-Amory levelled the charge at Brown, branding the sell-off a "fiasco''. He said the Chancellor of the Exchequer's "recklessness" and "incompetence" showed he was unfit for further office. Brown said 395 tonnes of gold had been sold from the reserves between July 1999 and March 2002 realising 3.5 billion dollars in total. The purpose was a restructuring of foreign currency and gold reserves aimed at achieving a "better balanced portfolio'' he told MPs. "The sterling value of the gold sold has risen to 4.2 billion pounds ... and the independent National Audit Office concluded the sale achieved value for money", he added. Heathcoat-Amory said "Since you obviously have great difficulty admitting the scale of this fiasco, will you confirm the Treasury's own figure that the average price obtained during these gold sales was 275 dollars an ounce and the price today is 642 dollars an ounce". "That is a total loss to the Treasury of over 4.5 billion dollars", he pointed out. "Since you were warned at the time about the recklessness of these sales, will you now agree that the depth of this fiasco and incompetence rules you out for further office?'' The Chancellor said one of the items bought by the Treasury with the gold proceeds was euros, which had gone up in value, as a "greater benefit'' to the Treasury. Brown is expected to take over from British Prime Minister Tony Blair when he leaves office later this year. kuna.net.kw

To: Grandk who wrote (62808)	1/26/2007 8:12:40 PM
From: mishedlo	Respond to of 116555

I don't know if you read the posts or not but it is basically a ridiculous conversation between an American telling someone who lives in Hong Kong about Hong Kong. Pretty much the status quo condescending American know it all mumbo jumbo. I read every post on this board so I do know what they are about (although I can misunderstand them). The point is (without taking sides) is the discussion has gone on long enough and it's time to put it to bed. I am sure I have defended (on other issues) both parties in this debate but enough is simply enough. Mish