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OT-US Gold reserve to back wallstreet bailout
Seems like printing more dollars wont fix wallstreets problems this time.
Guess gold is prefered over paper derivatives in some circles of high finnance. The U.S. Treasury Department has promised "hundreds of billions" to save the US markets using its own gold reserves. President Bush approved the use of existing authorities by Treasury secretary Hank Paulson to make available as necessary the assets of the Exchange Stabilisation Fund for up to $50 billion to buy more illiquid mortgage assets. When the Government bailed out the the Government Sponsored Enterprises it promised to buy illiquid mortgage backed securities, but this announcement extends that pledge. http://www.moneymarketing.co.uk/cgi-....cgi?id=173208 Best Regards Tom. |
OT-US Gold reserve to back wallstreet bailout
What gold reserves? They pretty much went away when Nixon left the gold
standard in '73. Steve "azotic" wrote in message ... Seems like printing more dollars wont fix wallstreets problems this time. Guess gold is prefered over paper derivatives in some circles of high finnance. The U.S. Treasury Department has promised "hundreds of billions" to save the US markets using its own gold reserves. President Bush approved the use of existing authorities by Treasury secretary Hank Paulson to make available as necessary the assets of the Exchange Stabilisation Fund for up to $50 billion to buy more illiquid mortgage assets. When the Government bailed out the the Government Sponsored Enterprises it promised to buy illiquid mortgage backed securities, but this announcement extends that pledge. http://www.moneymarketing.co.uk/cgi-....cgi?id=173208 Best Regards Tom. |
OT-US Gold reserve to back wallstreet bailout
"Steve Lusardi" wrote in message ... What gold reserves? They pretty much went away when Nixon left the gold standard in '73. Steve Fort Knox Bullion Depository, one of the institutions under the supervision of the Director of the United States Mint. The remaining gold reserves are held in the Philadelphia Mint, the Denver Mint, the West Point Bullion Depository and the San Francisco Assay Office, also facilities of the United States Mint. Amount of present gold holdings is 147.3 million ounces. http://www.globalsecurity.org/milita...depository.htm Best Regards Tom. |
OT-US Gold reserve to back wallstreet bailout
"Steve Lusardi" wrote in message ... What gold reserves? They pretty much went away when Nixon left the gold standard in '73. Steve This is a myth, Steve. The US gold reserves run to something around 5,000 tons of bullion, and we hold another 5,000 tons for foreign countries. Internet cranks can tie you up for hours, tracking down their bull**** about it, but reliable sources confirm the state of the reserves. -- Ed Huntress "azotic" wrote in message ... Seems like printing more dollars wont fix wallstreets problems this time. Guess gold is prefered over paper derivatives in some circles of high finnance. The U.S. Treasury Department has promised "hundreds of billions" to save the US markets using its own gold reserves. President Bush approved the use of existing authorities by Treasury secretary Hank Paulson to make available as necessary the assets of the Exchange Stabilisation Fund for up to $50 billion to buy more illiquid mortgage assets. When the Government bailed out the the Government Sponsored Enterprises it promised to buy illiquid mortgage backed securities, but this announcement extends that pledge. http://www.moneymarketing.co.uk/cgi-....cgi?id=173208 Best Regards Tom. |
OT-US Gold reserve to back wallstreet bailout
"Ed Huntress" wrote in message ... "Steve Lusardi" wrote in message ... What gold reserves? They pretty much went away when Nixon left the gold standard in '73. Steve This is a myth, Steve. The US gold reserves run to something around 5,000 tons of bullion, and we hold another 5,000 tons for foreign countries. Internet cranks can tie you up for hours, tracking down their bull**** about it, but reliable sources confirm the state of the reserves. -- Ed Huntress About $128,445,600,000,000,000 at fridays spot gold price. Best Regards Tom. |
OT-US Gold reserve to back wallstreet bailout
"azotic" wrote in message ... "Ed Huntress" wrote in message ... "Steve Lusardi" wrote in message ... What gold reserves? They pretty much went away when Nixon left the gold standard in '73. Steve This is a myth, Steve. The US gold reserves run to something around 5,000 tons of bullion, and we hold another 5,000 tons for foreign countries. Internet cranks can tie you up for hours, tracking down their bull**** about it, but reliable sources confirm the state of the reserves. -- Ed Huntress About $128,445,600,000,000,000 at fridays spot gold price. Best Regards Tom. I think you want to knock about six zeros off of that, Tom. -- Ed Huntress |
OT-US Gold reserve to back wallstreet bailout
Jon Elson wrote:
azotic wrote: Amount of present gold holdings is 147.3 million ounces. Hmm, that's only about 117 billion $, looks like we will run out in about a week at the current rate! Yikes! Jon No, I suspect teh price will accomidate that - soon... -- Richard (remove the X to email) |
OT-US Gold reserve to back wallstreet bailout
Like I said... we don't have enough gold to do anything. That's about enough
to pay the interest on our national debt for a year, if that. Steve "Ed Huntress" wrote in message ... "azotic" wrote in message ... "Ed Huntress" wrote in message ... "Steve Lusardi" wrote in message ... What gold reserves? They pretty much went away when Nixon left the gold standard in '73. Steve This is a myth, Steve. The US gold reserves run to something around 5,000 tons of bullion, and we hold another 5,000 tons for foreign countries. Internet cranks can tie you up for hours, tracking down their bull**** about it, but reliable sources confirm the state of the reserves. -- Ed Huntress About $128,445,600,000,000,000 at fridays spot gold price. Best Regards Tom. I think you want to knock about six zeros off of that, Tom. -- Ed Huntress |
OT-US Gold reserve to back wallstreet bailout
"Steve Lusardi" wrote in message ... Like I said... we don't have enough gold to do anything. That's about enough to pay the interest on our national debt for a year, if that. Steve 'Tell you what, Steve: Why don't you give your congressman a call and tell him you have it all figured out. They could use your advice. -- Ed Huntress "Ed Huntress" wrote in message ... "azotic" wrote in message ... "Ed Huntress" wrote in message ... "Steve Lusardi" wrote in message ... What gold reserves? They pretty much went away when Nixon left the gold standard in '73. Steve This is a myth, Steve. The US gold reserves run to something around 5,000 tons of bullion, and we hold another 5,000 tons for foreign countries. Internet cranks can tie you up for hours, tracking down their bull**** about it, but reliable sources confirm the state of the reserves. -- Ed Huntress About $128,445,600,000,000,000 at fridays spot gold price. Best Regards Tom. I think you want to knock about six zeros off of that, Tom. -- Ed Huntress |
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