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To: goldsnow who wrote (2482)	10/26/1997 9:33:00 AM
From: goldsnow	Respond to of 116874

Case in point. The price of gold production still needs house -cleaning. Sunday October 26 1:43 AM EST Australia gold miners continue to cut costs-report SYDNEY, Oct 26 (Reuters) - Australian gold producers are continuing to cut cash production costs in response to increased uncertainty in the gold market, an industry report on Sunday said. September quarter data showed that weighted average cash costs were about A$335 an ounce, which was A$20 an ounce less than average June quarter costs of A$355, according to the report prepared by mining industry consultancy Surbiton Associates Pty Ltd. The reduction would bring the amount cut from weighted average cash costs to about A$40 an ounce. Surbiton tracks Australia's gold production and industry statistics. Its Australian Gold Quarterly review covers about 99 percent of all gold mined in Australia. Surbiton managing director Sandra Close said in a statement the Australian dollar gold price also had benefitted from the lower exchange rate. Australian producers are more affected by the Australian dollar gold price than the U.S. dollar one. ''With gold at US$310 an ounce and a 69 U.S. cent dollar, the price is about A$450 an ounce currently,'' Close said. This was about A$25 an ounce higher than in early July when the Reserve Bank of Australia announced it had sold two-thirds of its gold reserves. The Australian dollar was trading around US$0.7400 a week ago.

To: goldsnow who wrote (2482)	12/20/2000 8:55:16 AM
From: long-gone	Respond to of 116874

Protecting the little guy (as claimed) or the big ones short gold?: Dec 19, 2000 - 08:57 PM Clinton Vetoes Bankruptcy Bill By Deb Riechmann Associated Press Writer WASHINGTON (AP) - President Clinton vetoed legislation Tuesday that proposed the most sweeping changes in the bankruptcy law in 20 years because he said it was unfair to ordinary debtors and working families who fall on hard times. Supporters of the bill, including credit card companies, have pushed for three years to pass a bill to overhaul the nation's bankruptcy system. Clinton also favors revamping the bankruptcy laws but thinks the current bill is not evenhanded. "I would have signed a balanced bankruptcy reform bill that addressed known abuses without tilting the playing field against those debtors who genuinely turn to bankruptcy for a fresh start," Clinton said in a statement released Tuesday evening. The president said the bill would allow debtors who own expensive homes to shield their mansions from creditors while debtors with moderate incomes, especially renters, must live frugally and comply with rigid payment plans for five to seven years. "This loophole for the wealthy is fundamentally unfair and must be closed," Clinton said. Clinton also cited the bill's exclusion of a provision that allows people who perpetuate violence, vandalism and harassment at reproductive health clinics to avoid paying legal judgments by concealing their assets and filing for bankruptcy. By leaving the Bankruptcy Reform Act of 2000 unsigned, the president issued a "pocket veto," the fourth indirect veto of his administration. By waiting until the lame-duck congressional session adjourned before vetoing it, he deprived lawmakers of the chance to override the veto. The veto drew criticism from Sen. Chuck Grassley, R-Iowa, a leading sponsor of the legislation. "President Clinton let the American people down by pocket vetoing the bipartisan bankruptcy reform bill," Grassley said Tuesday. "This veto means that financially troubled family farmers don't have protection against foreclosure, that residents of nursing homes that file for bankruptcy can be evicted in the middle of the night and that consumers will continue to pay higher prices for goods and services due to the exploding number of bankruptcies" Proponents cite as evidence of rampant abuse of the bankruptcy court system a rapid rise in personal bankruptcy filings in the mid-1990s, which reached a record 1.4 million in 1998. The legislation would have established a complex mathematical formula for determining whether debtors can repay part of their debts under a court-supervised plan rather than have them dissolved. Consumer groups, unions and other opponents contended the legislation would hurt families hit by job losses, catastrophic medical expenses or other unforeseeable hardships that push them over the edge financially. They also pointed to single mothers and their children who need alimony and support payments from bankrupt fathers. The banking and retail credit industries strongly backed the measure. The American Financial Services Association said the legislation retained protections for Americans to seek bankruptcy protection. The U.S. Chamber of Commerce had urged Clinton not to veto. Opponents of the legislation, including Sen. Edward Kennedy, D-Mass., said the president's veto was no surprise and well-deserved. "Next year, I hope the credit card industry will revise its punitive legislative proposal," Kennedy said Tuesday. "We should pass a balanced bill that deals effectively with existing problems, without creating new abuses." AP-ES-12-19-00 2057EST ap.tbo.com