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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: paul ross who wrote (18733)	9/13/1998 3:38:00 PM
From: banco$	Respond to of 116871

I believe that the IMF was similarly denied permission from member states to tap its gold reserves about a year or two ago. The organization proposed a partial sale to 'fund' poorer nations. (Would have to check on that one, but I believe the request was disapproved.) The IMF may be granted broader authority in its lending practices; probably not a good idea as the current bail out mechanism is questionable on its own. Additional IMF meddling in the markets may exacerbate regional and global stability problems. Incidentally, the House Appropriations' Foreign Operations Subcommittee conditioned the quota increase on two conditions: 1. "liberalize restrictions on trade in goods and services and on investment, at a minimum consistent with the terms of all international trade agreements of which the borrowing country is a signatory;" 2. "eliminate the pervasive practice or policy of government directed lending on non commercial terms or provision of market distorting subsidies to favored industries, enterprises, parties, or institutions"