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To: Bucky Katt who wrote (7251)2/4/1998 8:10:00 PM
From: lorne  Read Replies (1) | Respond to of 116753
 
02-05-98 : NCNP Receives 7-Ton Gold Contribution Offer

Members of President-elect Kim Dae-jung's National Congress for New Politics (NCNP) were recently offered an almost unbelievable donation of 7 tons of gold bars to be used to helping Korea overcome its financial crisis.

An NCNP official yesterday said a woman who claims to be a proxy for a Korean residing in the United States recently visited the NCNP's headquarters and conveyed this wish to donate to the Korean government a half of the 14 tons of gold bars he has deposited in a U.S. bank.

The woman, who remains anonymous, presented a certificate of deposit to the NCNP official, who later confirmed it was genuine.

The official quoted the woman as telling him that the Korean in the United States wanted to join the nation's patriotic campaign to collect gold to help overcome its current economic difficulties.

The donation of the proposed 7 tons of gold, whose market price is estimated at about $70 million, if realized, would contribute to revitalizing our battered economy, said the official.

The NCNP is exploring ways to utilize the gold, including obtaining foreign loans using the gold as collateral. (NIS)



To: Bucky Katt who wrote (7251)2/4/1998 9:17:00 PM
From: IngotWeTrust  Read Replies (3) | Respond to of 116753
 
Similar info gathered t'day from my sources, 1 guy put it this way: "trade has backed way t'hell off & won't pay but $4 per"

Interesting, eh?

O/49r



To: Bucky Katt who wrote (7251)2/5/1998 7:26:00 AM
From: Mark Bartlett  Read Replies (2) | Respond to of 116753
 
Willaim,

<<I have talked at length today to 3 big dealers in the metals, 2 in NY and 1 in Calif. What they tell me is massive SELLING by the public of silver, ie-- bringing it in to coin shops and selling. >>

I am not an expert in coins, but my sense is silver _coins will have no impact in the fundamentals of silver as a commodity .... I appreciate what you are saying - I just do not believe it will have much of an impact on silver prices .... I stand to be corrected though.

MB