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Gold/Mining/Energy : GOLD-XAU -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (682)	12/17/1997 2:55:00 AM
From: Keith F. Wunderlich	Read Replies (1) \| Respond to of 1756

When the Bank's initial capital was issued, the subscribing institutions were given the option of taking up the whole of their respective national issues of shares or of arranging for those shares to be subscribed by the public. As a result, part of the Belgian and French issues and the whole of the American issue are not held by the institutions to which they were originally allocated. Hi Phil, The way I read the above is that the US (via the Federal Reserve) would have had the option to buy but declined and arranged to have the financing instead by the public. But I must say your statement is news to me that the Federal Reserve is a private institution. Strange wouldn't you say. I'll have to find out who sets its policies. I am curious. Keith