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To: lorne who wrote (2985)	11/8/1997 7:44:00 PM
From: Gary	Read Replies (1) \| Respond to of 116823

I had the figures for the Canadian gold holdings about a year ago. They are so low that selling isn't even a concern. We have very little left.

To: lorne who wrote (2985)	11/9/1997 5:29:00 AM
From: Alex	Respond to of 116823

Hi Lorne. I believe that Canada had 3.1 million ounces of gold left as of last month. Sad.

To: lorne who wrote (2985)	11/9/1997 2:19:00 PM
From: Eashoa' M'sheekha	Read Replies (3) \| Respond to of 116823

Maybe I Can Shed Some Light On This Subject.Re:Gold Standard......... The gold standard was first put into operation in Great Britain in 1821. The full international gold standard lasted from about 1870 until World War I. It was re-established about 1928, though by that time gold coins were no longer in circulation in many countries. The Great Depression caused the collapse of the standard, and in the post-World War II international system most exchange rates were pegged either to gold or to the dollar. In 1958 a type of gold standard was established again in which the major European countries had free convertibility of their currencies into gold and dollars for international payments. But there was no restoration of a pure international gold standard as such. Then in 1971 United States President Richard M. Nixon ended the convertibility of the dollar into gold. Since then gold has been no more than a commodity traded on international markets. The problem with gold as a standard,is that gold would have to be priced at an unrealistic,in terms of cost to produce,value in order to represent the paper values in our system today.The resource is finite, whereas the ability to print money is not.A return to a gold related standard whereas gold is no longer a commodity is highly unlikey given these realisms from a global perspective. In order for gold to return to more traditional trading ranges of the recent past,people will have to consider it a store of wealth again as REAL WEALTH.Right now coins etc. are typically bought as keepsakes or gifts etc. to mark occasions of historical importance in our culture. Whether or not other cultures decide on an individual basis to go back to gold in the event of a currency crises and massive inflation that usually follows remains to be seen.Enter:The world banks and the IMF to shore up the instability and bring confidence back to these countries.What is unclear to many at this time is the reasoning of timing for the Swiss announcment and other impending possible sales during this particuar Global scenario. Hope That Helps Taurus(Not A GoldBug)

To: lorne who wrote (2985)	11/9/1997 5:10:00 PM
From: John Barendrecht	Read Replies (1) \| Respond to of 116823

Canada has a stated policy to sell all of their gold reserves and have been doing this very slowly. If I remember correctly, Canada has very little gold - 3 million oz. You could call Preston but I still believe your best to vote with your dollars. Buy gold mutual funds, coins, stocks, etc. I will not ask the government to get involved - name me one program that the government does that you are proud of. When the US gov't was involved in gold they pegged it at $35. Do you really want that to happen again, especially with demand outstripping supply. Sooner or later it will go up. Not familiar with S. Korea.

To: lorne who wrote (2985)	11/10/1997 7:25:00 PM
From: lorne	Read Replies (1) \| Respond to of 116823

Bloomberg News Page One: Hong Kong, Nov. 10, 1997 The following are the day's top stories from Bloomberg News: LEAD STORIES South Korea Won Tumbles; Investors Dismiss Government Optimism By David Gillen Seoul: Foreign investors continued dumping South Korean stocks and currency, dismissing government assurances that the country's economy is sound. The won fell as much as 2 percent to a record low of 998.8 to the dollar. The derivatives market already reflects a wager by many investors the slide in the Korean currency will continue. A government pledge to boost the financial industry fueled the biggest gains for Korean shares in two weeks. The locally led rally masked the second biggest sell-off in Korean stocks ever by foreign investors -- a net sale totaling 96.7 billion won ($97 million). Many foreign investors remain concerned the world's 11th-largest economy is headed for the kind of economic shock that jolted Thailand and other Southeast Asian countries, even though its current-account deficit is rapidly shrinking. ''When you've got a problem which is as deep and profound and as full of rot as this one is, there's no point trying to put a tablecloth over it and saying 'things are fine,''' said David Roche, a former Morgan Stanley & Co. strategist who now runs London- based Independent Strategy. ''In my view, despite the turnaround in the current account, it's bust.'' Published 16:49.