Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work.

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Default 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.



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Default 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.





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Default 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.





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Default 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.







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Default 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.






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Default 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


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Default 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)
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Default 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




  #9   Report Post  
Posted to rec.crafts.metalworking
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Posts: 12,529
Default 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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