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To: Bobby Yellin who wrote (4954)	12/30/1997 2:55:00 PM
From: Alex	Respond to of 116759

Hi Bobby. Recently read an article in the Globe & Mail here that discussed the reasons for the fall of the Canadian $. There was not one mention of the fact that we have sold almost all of our CB gold. I guess we revert to 'the good name of the goverment' as a last defense. Question is - which goverment is that? And where oh where is Homer Simpson when you really need him? Here's a read on gold, both pro and con.............. cbs.marketwatch.com

To: Bobby Yellin who wrote (4954)	12/30/1997 4:31:00 PM
From: lorne	Read Replies (3) \| Respond to of 116759

Hi Bobby I did go to the TD bank to purchase gold, Maple leaf or wafer. It was my intention to get $20,000.00 in Canadian maple leaf currency,I would have to purchase these coins in $US so right off the top the exchange rate comes off then I would have to pay PST at 8% on the full $20,000.00 so I would end up with about 15,000.00$ worth of Maple leaf coins. The wafers were also in $US but no PST. Never thought to ask the bank if they would purchase back the gold if the price ever got to 1000.00$/oz So I think the exchange rate and the PST may stop a lot of average canadians from purchasing gold.

To: Bobby Yellin who wrote (4954)	12/30/1997 10:48:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116759

y JONATHAN D. SALANT .c The Associated Press WASHINGTON (Dec. 30) - Stung by the fund-raising controversy and declining contributions, President Clinton's legal defense fund announced it is shutting down on Wednesday and leaving the first family to find other ways to defray $3 million in unpaid legal bills. The president immediately asked White House lawyers for other options to raise the money to pay the mounting bills from the Whitewater and fund-raising investigations. Trustees of the 3-year-old legal defense fund said Tuesday that potential contributors shied away in the wake of the ongoing criminal and congressional investigations into political fund-raising. ''The trustees have noted with concern and regret the steady decline in contributions to the trust,'' said Michael H. Cardozo, the Washington lawyer who served as the fund's executive director. ''They believe this is due in large measure to the political climate which prevails today, with numerous highly publicized campaign finance related investigations.'' The fund itself became ensnared in the fund-raising controversy after revelations last year it returned $640,000 in contributions from controversial fund-raiser Yah Lin ''Charlie'' Trie. The money, delivered in manila envelopes, was returned because of concerns about its origins. ''The notoriety associated with that incident had a chilling effect on contributions to the trust fund,'' said Cardozo, who testified before Congress about the incident. ''There is no question that the notoriety hurt us.'' The fund was also hamstrung by a restriction prohibiting its trustees from soliciting donations. After taking in $1.2 million during its first two years, the fund's financial support slowed to a trickle. It took in only $79,702 between Jan.1 and Nov. 30, 1997, while spending $92,372. Among those to give the maximum $1,000 in the past 11 months: -Judith A. McHale, chief executive of Discovery Communications, which operates the Discovery cable channel. -Jean M. Auel, an author in Oregon whose work include ''The Clan of the Cave Bear.'' -Walter Kaye, a New York insurance executive and major Democratic donor. -Washington lawyer Philip L. Verveer, whose wife Melanne is chief of staff to Hillary Rodham Clinton. So far, the fund has paid $766,134 of President and Mrs. Clinton's legal bills but the first couple still owe $3 million. Another $890,000 worth of legal bills in the Paula Jones sexual harassment suit have been paid by the president's insurance companies. Most of the unpaid bills, $2.7 million, is owed to the firm of Clinton's Whitewater attorney, David Kendall. Cardozo said the fund will not accept any checks dated after Dec. 31, 1997, and would go out of business as soon as possible next year. The president asked the White House counsel's office for advice on how to continue raising money. ''In light of the trustees' decision to dissolve the trust, we have asked the counsel's office to advise us concerning the ethical and legal requirements that would govern any future efforts to address both the substantial legal fees already accumulated and those that will be generated by the need for ongoing representation,'' Clinton said in a statement. He did not elaborate. Cardozo suggested that the president's supporters could choose to solicit contributions, which the legal defense fund could not do under a ruling by the Office of Government Ethics. ''The ethical and legal challenges can be overcome,'' Cardozo said. ''I would hope the president's friends and supporters will do so.'' But others questioned whether potential donors will be scared away by the attention that contributions to the president receive. ''There is probably no shortage of people who would like to ingratiate themselves with the president, but not in such a public way,'' said Gary Ruskin, director of the Congressional Accountability Project, a watchdog group affiliated with consumer advocate Ralph Nader. AP-NY-12-30-97 1705EST Copyright 1997 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press.

To: Bobby Yellin who wrote (4954)	12/31/1997 3:01:00 PM
From: Mark Bartlett	Respond to of 116759

Bobby, I can almost guarantee that our Central Bank will do one of two things ... either let the dollar float (come what may) or give a sharp and decisive interest rate increase to shake some of the currency traders up. I suspect that we would also get some support from the US and the UK to support the dollar too. Remember, Canada is predominantly an exporting country - and a low dollar does not hurt in that regard. The border malls are already starting to experience a flood of US shoppers coming across the border to Canada. That does not surprise me - several months ago I was down in the US looking for the great bargains I had been hearing about - problem was, once I took the currencey exchange rate into consideration, I could have bought the same things back in Canada (in many cases) at _much less cost. Except for gasoline (which is cheaper in the US - but not by as much as some would have you believe .... once you take the exchange rate into consideration and the fact the Canadian gallon in 25% bigger, the "savings" are not that great) .... and alcohol (definitely cheaper - ours is taxed into oblivion) ..... there were not that many "bargains". MB