-Caveat Lector-
from alt.conspiracy
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As always, Caveat Lector.
Om
K
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<A HREF="aol://5863:126/alt.conspiracy:535582">Camdessus: IMF gold sales are
hot tasty mom's apple pies
</A>
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Subject: Camdessus: IMF gold sales are hot tasty mom's apple pies
From: [EMAIL PROTECTED] (E Right)
Date: Tue, 06 July 1999 12:13 PM EDT
Message-id: <[EMAIL PROTECTED]>
Camdessus: IMF gold sales are hot tasty mom's apple pies
or - Even More on the IMF Gold Manipulation
Folks, England, Switzerland and the IMF have all expressed interest in
selling gold. I think both England and Switzerland have even voted to sell
some of their gold. One might think that this will depress the gold
market, especially since talking about it depressed the market some 10%. I
have provided this as a follow up to my remarks " Even More on the IMF
Gold Manipulation" as a service and in fairness, even though I question
the STATED motives. Anyway, its looking like a gold Christmas for your
honey...
By the way, a NEW Russian IMF loan bailout is supposed to be in the works
for some 4.5? Billion dollars. The last time the IMF loaned them money
they claimed they were using Russian gold as collateral, which I doubt the
IMF could remove if they tried. What is the status on the FAILED loans and
the Russian gold collateral?
ex: NEW YORK (Reuters 8/21/98 fair use) ...Russia may have used 200 tonnes
of gold as collateral for a loan to raise much-needed cash to support its
currency, Merrill Lynch's analyst Ted Arnold said Friday.
ARTICLE: Camdessus: nothing to fear from IMF gold sales
GENEVA (AP 7/5/99 fair use) - Gold markets have nothing to fear from the
International Monetary Fund's plan to sell gold to finance debt relief for
poor countries, the IMF's managing director said Monday.
Responding to the "legitimate preoccupation" of gold producing countries,
Michel Camdessus said he believes that "we can find a solution that
everyone can accept unanimously."
"We're selling 10 percent of our gold. That means we're keeping 90 percent
of our gold and we have no desire to see our remaining 90 percent losing
any of its value," Camdessus told reporters in Geneva, where he was
attending the annual meeting of the U.N. Economic and Social Council.
"So we won't be so stupid as to sell the gold in a disordered and
unplanned way which risks depressing further an already depressed market."
re: More on the IMF Gold Manipulation -- E Right
There appears to be a conspiracy by the Europeans/IMF to DUMP gold on the
world market, which would have the effect of debasing their assets. This
plan by England, Switzerland, and the IMF to sell Gold may have an
ulterior motive.
But what, Why? To prop up the EURO, to implement a New World Currency
while debasing gold? Selling massive quantities of gold lowers the price
of THEIR holdings in gold. I don't have the current world production rate
of gold but it is probably around 70 million troy oz per year. If the IMF
sells 10 million and Britain sell about the same amount it should be
obvious that the world price would drop because of supply. The 128%
increase in supply was estimated to drop the price by half! Just the
rumors of the sale dropped the price of gold about10%.
The IMF says it wants to help poor people. At the Earth Summit in Rio in
1992 the participants agreed to a 0.7% ODA (Overseas Development
Assistance) tax on Western Civilization to develop the undeveloped 3rd
world. This was NOT ratified by the US congress but the Clinton
Administration has been pushing for various taxes to sneak this past the
people. Sustainable Development principles like banning freon, 1.6 gallon
toilet conservation, and a myriad other international implementations have
been initiated from the executive branch. Remember the BTU tax? How about
the CO2 trading credits fabricated from the Kyoto talks. More third world
hands in first world pockets...
The IMF _SAYS_ they are selling the gold to finance world welfare in the
bailout and development of poor countries. They could raise 1.5-2.5
billion depending on the price of a depressed market from selling the
gold. The IMF has some 30 Billion dollars (@300$/oz) in gold which could
decrease 15 BILLION from the sale! The problem is compounded by the
British who are also interested in selling gold.
Why is there a concerted effort to dump gold on the world market?
Many poor people in Asia and 3rd world countries buy gold as a way to save
for retirement and hedge inflation. They may buy gold leaf or jewelry
which is essentially 100% gold. Their savings in gold would be cut in
half. The poor and middle classes in 3rd world countries who do not have
stable currencies and who invest in gold as a hedge against inflation
would be squashed. Gold value world wide would drop in value by half. The
poor people would be hurt by this gold dump.
This is the crux of the problem, their holdings would decrease by half.
The world holders would also decrease by half. How much money of the
worlds assets are being vaporized? Folks, now we are talking about
debasing TRILLIONS of dollars in assets. This is a BIG deal.
The IMF wants 1.5 Trillion to develop Asia. Russia seems to have
squandered 80 Billion and cannot pay... the IMF is talking about forgiving
third world debt and giving them more money to squander. Is this a threat
to the western world by the IMF globalists to pony up the international
DOA tax starting at 0.7%?
It looks very much like a threat to me.
WASHINGTON (AP) -- A plan by the International Monetary Fund to sell gold
to finance debt relief for poor countries would hurt many of these nations
and the U.S. gold industry, two senators said today.
Sen. Jesse Helms, chairman of the Senate Foreign Relations Committee, and
Sen. Chuck Hagel, chairman of the subcommittee on international economic
policy, said they have joined a bipartisan group to oppose the gold sales,
which require congressional approval.
In a letter to Treasury Secretary-designate Larry Summers, the senators
said, "We are unalterably persuaded that selling IMF gold reserves would
adversely affect the very countries the administration intends to assist
and further damage the U.S. domestic gold industry."
Opposition also came from lawmakers representing gold mining states. "It
ain't going to happen," predicted Sen. Richard Bryan, D-Nev. Helms,
R-N.C., and Hagel, R-Neb., said that in the past month, since Britain
announced it was selling a portion of its gold reserves, the price of the
gold has plunged to a 20-year low of $258 an ounce.
They said they were concerned that the United States, the second largest
producer of gold after South Africa, would lose jobs and companies would
go bankrupt if the prices continue to fall. Helms and Hagel said 36 of the
41 nations intended to benefit from the IMF gold sales are gold producers
and "if sales further depress gold prices, it is questionable that
benefits from debt relief would outweigh the harm done by falling prices."
Leaders of the world's main industrial nations meeting last week in
Cologne, Germany, gave the go-ahead for the IMF to sell 10 million ounces
of its $27 billion in gold reserves to help finance the IMF portion of
debt relief for poor countries.
IS THIS INTERNATIONAL ARM TWISTING TO GET THE US TO PAY A GLOBAL ODA (.7%
GNP WORLD DEVELOPMENT TAX) BY EXTORTION IN THE FORM OF A GOLD SELL-OFF TO
PAY FOR THE WORLD DEVELOPMENT AND WELFARE SCHEME?
---
The cold war also saw the European Community pioneer the kind of regional
cohesion that may pave the way for globalism. Meanwhile, the free world
formed multilateral financial institutions that depend on member states'
willingness to give up a degree of sovereignty. The International Monetary
Fund can virtually dictate fiscal policies, even including how much tax a
government should levy on its citizens. The General Agreement on Tariffs
and Trade regulates how much a nation can charge on imports. These
organizations can be seen as the protoministries of trade, finance and
development for a united world.
-- Stobe Talbot (Deputy Secretary of State),
TIME MAGAZINE, July 20, 1992, pp 70
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Aloha, He'Ping,
Om, Shalom, Salaam.
Em Hotep, Peace Be,
Omnia Bona Bonis,
All My Relations.
Adieu, Adios, Aloha.
Amen.
Roads End
Kris
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