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

To: m.philli who wrote (5546)	4/25/1999 7:48:00 PM
From: Bill Murphy	Respond to of 81023

Mphilli, Bre-X is a different deal altogether. For the real story and some belly laughs come to lemetropolecafe.com. By: Prof Von Braun The Rocket School of Economics profvonb@aol.com The Prof is one of our regulars. Great news ! The character played by Jim Carey in the movie Liar, Liar is alive and well and has a new job. He is currently employed by a major investment house/bullion bank based in New York. His job is to spread rumors throughout the financial press that gold is no longer a part of the worlds financial holdings. This task , to which he is well suited, is designed to aid his employer in the continued practice of borrowing gold at very low rates of interest, selling it into the market and using the proceeds to prop up a faltering IPO market. He has gotten so good at it that a recent promotion has seen him in the company of several politicians and there appointees, holding whispered conversations that we have been told, relate to the apparent dilemma of where to get some actual, real, tangible , physical metal. Apparently the plan to force down the price of gold to $200 per ounce has come unstuck and a large amount of gold is due for repayment in the not too distant future. But Mr. Liar, Liar, has come up with a plan to save the day, henceforth the promotion. Yes, it's no problem, he was reported as saying, get the IMF to sell it's gold. He omitted to tell his colleagues that he had tried the French and the Germans, as well as the new ECB and was met with a polite refusal. He did however get some sympathy from the Swiss as well. Rumor has it that among the big players in the gold carry trade are two very large Swiss Banks with strong US connections (something to do with the first tea party) that have to deliver the goods at some stage. The plan seemed good on paper, as is often the case, but the return of the physical metal is looming on the horizon which could present an embarrassing problem. Where can you obtain 5000 tonnes of gold at short notice, as in a twelve month period ? You can't. But you can try to mobilize as much physical metal as possible and of course, the Swiss government will not let it's banks default on a gold loan, that would upset the local populace. Now perhaps, the Swiss referendum makes sense. As does the current publicity re the potential for “urgent” IMF gold sales. Its not the cash that's required, it's the physical metal. Well Mr. Liar,Liar good luck in your new role. But I would not count on long term employment .