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To: Bald Eagle who wrote (5714)1/12/1998 6:11:00 PM
From: robnhood  Read Replies (1) | Respond to of 116759
 
Wiseowl, All I know is the pictures on TV were of people throwing their gold trinkets into boxes, not bahts , nor ringits, not yens, not rupiah,,not even the allmighty buck..Hmmmm
russell



To: Bald Eagle who wrote (5714)1/12/1998 6:25:00 PM
From: PaulM  Respond to of 116759
 
Actually it is the S Korean govt. But the U.S. supports the IMF which in turn is there to bailout S Korean creditors by imposing austerity measures, including adopting laws making it easier to fire workers.

There's no compromise here. Every penny and every austerity measure is to ensure that S Korea can pay back its debt, reagrdless of the consequences. If thsi were not the case, perhaps desparate measures like a gold drive would be unecessary.

But you're right, I mispoke.