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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (2)	5/28/1998 11:00:00 PM
From: Peter Neidhardt	Respond to of 81970

Chances of the Swiss getting a go for gold selling is like finding OJ guilty in a court of law!

To: Bill Murphy who wrote (2)	3/24/1999 9:47:00 PM
From: long-gone	Read Replies (1) \| Respond to of 81970

Bill, Have we been getting very many new-bees the last couple of days for GATA? We are pushing out here.

To: Bill Murphy who wrote (2)	8/9/1999 1:29:00 PM
From: Alex	Respond to of 81970

8/09/99 - Amid complaints, IMF is reconsidering selling gold to finance debt relief <Picture> PRETORIA, South Africa, Aug 09, 1999 (AP Worldstream via COMTEX) -- The International Monetary Fund is reconsidering selling some of its gold reserves to help finance a Western debt-relief plan for some of the world"s most debt-burdened countries, a top IMF official said Monday. A global gold selloff, hastened by the Bank of England"s auction of 3.5 percent of its reserves last month, has sent gold prices down to their lowest level in a generation, triggering bankruptcies, layoffs and street protests in South Africa, the world"s biggest producer of gold. ""We are trying very hard to see if there is an alternative to selling gold,"" said Stanley Fischer, the IMF"s first deputy managing director, who was visiting South Africa for the inauguration of Tito Mboweni as the country"s first black central bank governor. Fischer"s remarks, reported by Dow Jones Newswires, were the first official comment from the IMF since opposition to the proposed sale began mounting in earnest three months ago. Opposition by South Africa and by other gold-producing countries to the IMF plan to sell up to 10 million ounces of its 100 million-ounce reserves has ""caused us to look for another solution,"" Fischer said. South Africa, the world"s leading gold producer, has one of the highest average costs of production, at dlrs 246 per ounce. On Monday, gold was trading at about dlrs 256 per ounce on most major foreign markets. Tens of thousands of miners in South Africa stand to lose their jobs if gold prices continue sliding. ""We listened very carefully to what South Africa has said"" on the issue, Fischer said. Fischer said no obvious alternative to the IMF"s gold sales has been put in place, and any other financing proposal would likely be ""complex"". Copyright 1999 Associated Press, All rights reserved.