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To: lorne who wrote (32095)	4/18/1999 7:34:00 PM
From: John Hunt	Read Replies (1) \| Respond to of 116782

IMF-World Bank Relief Questioned << Rep. Jim Saxton, R-N.J., vice chairman of the Congress' Joint Economic Committee, said proposed IMF gold sales would "face tough congressional scrutiny in the coming months and an increasingly uncertain future." He said Friday that Congress must approve any commitment by the Clinton administration to sell the gold. >> newsday.com I wouldn't bet on that IMF gold ever being sold. :-))

To: lorne who wrote (32095)	4/19/1999 2:11:00 AM
From: Investor-ex!	Read Replies (2) \| Respond to of 116782

This is laughable. To whom is the "debt" "owed"? The banks or their proxy, the IMF. Who "owns" the gold? The banks or, indirectly, the IMF. Who will "sell" the gold to satisfy the debt "owed"? The banks or their proxy, the IMF. Who will receive the gold when it is "sold" in "forgiveness" of "debt". The IMF and, ultimately, its masters, the banks. It's just a shell game, a cheap magician's trick, accounting sleight-of-hand, book cooking. The banks are essentially selling themselves their own gold in an attempt to clean their balance sheets of non-performing, third country debt, contain the POG, and minimize the effects of the collapse of the global debt bubble they've created, all the while buying themselves more time to unwind by pumping the money supply like mad and thereby making the bubble even worse for the ultimate bagholders. Why not just forgive the debt outright? Why all this baloney with gold? Why go through this pretense of sending gold reserves out the front door only to have them show up again at the back door? It's not "money" anymore, right? Why not accumulate and then sell "just another commodity" to forgive the "debt"...say wheat, or pork bellies, or no. 2 pencils? Why not just create some more fiat "money" to "lend" to themselves to pay off the "debt" they "owe" to themselves and leave the rest of us out of it? Those that do not know how to responsibly manage an asset will eventually lose control of that asset...