Ted Butler: No mistake

Section:

... It all must have been sold or leased
out already.

* * *

U.S. Treasury's Snow
Says No Consensus on Gold

From Reuters
Tuesday, April 19, 2005

http://www.reuters.com/financeQuoteCompanyNewsArticle.jhtml?
duid=mtfh99067_2005-04-19_20-18-35_wat003013_newsml

WASHINGTON -- U.S. Treasury Secretary John Snow on Tuesday dismissed
chances a proposal to sell International Monetary Fund gold stocks
to help fund debt relief for the world's poorest countries could
succeed.

"There's no consensus on this among the G7 or the board of the IMF,"
Snow said in answer to lawmaker questions before the House of
Representatives Financial Services Committee, where he was
testifying on the state of the global financial system.

"I think that if you did a vote now -- I haven't ever taken a vote
count -- you'd have as many or more against than in favor of the
gold sales," he said. "The U.S. position is clear on that. It is
inadvisable and not a course of action we could support."

The Treasury chief added: "I don't see how they will ever be
successful."

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