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

To: J.E.Currie who wrote (3224)	1/29/1999 4:02:00 AM
From: IngotWeTrust	Read Replies (1) \| Respond to of 81003

Jim sez: World Gold Council's Dick Ware sez: He reminded the audience that since an amendment to its articles in 1978, the IMF has forbidden its members to peg their currencies, in any way, to gold. Boy, THAT ONE'S RICH!!! And just how many tons of gold did the IMF force, errrropps, I meant to type "suggest", you understand, Jim) that Russia buy (and buy they did, too!!!) to up their reserves prior in order to secure their last "IMF" Loan approval? Was it 5 or 8 tons? I'd have to go back to my notes... I'll get back to you when I find the precise quote. Dick Ware of World Gold Council must think the Ruskies are dumber than NY Fed Reserve Pres. thinks we public monied global villagers are...SHEEEEESH! Could it be, that it is because Mr. Dick Ware in a P/R regarding his highly touted Resource Report #20 ººº on 7/22/98 confirmed that the IMF holds its: ": Gold is held by the fund at the old official price of SDR35ºº to the ounce ($42.22) and is therefore a significantly undervalued asset on the fund's balance sheet, and consequently the fund's financial position is stronger than it appears. Gold adds a ''fundamental strength'' to the balance sheet which may be important in years to come. " ºº SDR = Special Drawing Rights ººº The IMF and Gold - Research Study no. 20, is one of a series of reports published by the World Gold Council on a number of wide-ranging issues of importance to the international gold market and all those involved in it. Copies of this report and of a full list of other reports are available from the WGC, 444 Madison Ave., Ste. 301, New York, NY 10022. Telephone 212/317-3848. O/49r