Loading ...
Sorry, an error occurred while loading the content.
 

Bank of France will sell 500-600 tonnes of gold over five years

Expand Messages
  • GATAComm@aol.com
    By The Associated Press http://www.forbes.com/business/services/feeds/ap/2004/11/19/ap1666207. html French Finance Minister Nicolas Sarkozy and Bank of France
    Message 1 of 1 , Nov 19, 2004
      By The Associated Press

      http://www.forbes.com/business/services/feeds/ap/2004/11/19/ap1666207.
      html

      French Finance Minister Nicolas Sarkozy and Bank
      of France Governor Christian Noyer have finalized
      discussions on the sale of a portion of France's
      gold reserves.

      Noyer confirmed his intention to sell 500 to 600
      tonnes of the 3,000 tons of gold kept in vaults
      underneath the Bank of France headquarters in
      Paris over the next five years, the Finance
      Ministry said in a statement Friday.

      The sale will be accompanied by an increase in
      cash reserves. Noyer will determine the rate at
      which the gold is sold, paying particular
      attention to the precious metal's market price.

      At the end of five years, profit generated will
      yield more than E200 million (US$262 million) per
      year in interest. This sum will go to the state
      to help pay off France's E1 trillion (US$1.3
      trillion) debt and to finance long-term
      employment, notably in the area of research, the
      ministry statement said.

      The agreement is a victory for Sarkozy, who has
      pushed aggressively for the sale since his
      appointment as finance minister in April.

      ----------------------------------------------------

      To subscribe to GATA's dispatches, send an e-mail to:

      gata-subscribe@yahoogroups.com

      To unsubscribe, send an e-mail to:

      gata-unsubscribe@yahoogroups.com

      ----------------------------------------------------

      RECOMMENDED INTERNET SITES
      FOR DAILY MONITORING OF GOLD
      AND PRECIOUS METALS
      NEWS AND ANALYSIS

      Free sites:

      http://www.jsmineset.com

      http://www.cbs.marketwatch.com

      http://www.mineweb.com/

      http://www.gold-eagle.com/

      http://www.kitco.com/

      http://www.usagold.com/

      http://www.GoldSeek.com/

      http://www.GoldReview.com/

      http://www.capitalupdates.com/

      http://www.DailyReckoning.com

      http://www.goldenbar.com/

      http://www.silver-investor.com

      http://www.thebulliondesk.com/

      http://www.sharelynx.com/

      http://www.mininglife.com/

      http://www.financialsense.com

      http://www.goldensextant.com

      http://www.goldismoney.info/index.html

      http://www.howestreet.com

      http://www.depression2.tv

      http://www.moneyfiles.org/

      http://www.howestreet.com 

      http://www.minersmanual.com/minernews.html

      http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html

      http://www.goldcolony.com

      http://www.miningstocks.com

      http://www.mineralstox.com

      http://www.freemarketnews.com

      http://www.321gold.com

      http://www.SilverSeek.com

      http://www.investmentrarities.com

      http://www.kuik.com/KH/KH.html
        (Korelin Business Report -- audio)

      http://www.plata.com.mx/plata/home.htm
        (In Spanish)
      http://www.plata.com.mx/plata/plata/english.htm
        (In English)

      http://www.resourceinvestor.com/


      Subscription sites:

      http://www.lemetropolecafe.com/

      http://www.goldinsider.com/

      http://www.hsletter.com

      http://www.investmentindicators.com/

      http://www.interventionalanalysis.com


      Eagle Ranch discussion site:

      http://os2eagle.net/checksum.htm


      Ted Butler silver commentary archive:

      http://www.investmentrarities.com/

      ----------------------------------------------------

      COIN AND PRECIOUS METALS DEALERS
      WHO HAVE SUPPORTED GATA
      AND BEEN RECOMMENDED
      BY OUR MEMBERS

      Blanchard & Co. Inc.
      909 Poydras St., Suite 1900
      New Orleans, Louisiana 70112
      888-413-4653
      http://www.blanchardonline.com


      Centennial Precious Metals
      3033 East 1st Ave., Suite 403
      Denver, Colorado 80206
      www.USAGold.com
      Michael Kosares, Proprietor
      US (800) 869-5115
      Canada 1-800-294-9462
      European Union 00-800-2760-2760
      Australia 0011-800-2760-2760
      cpm@...


      Colorado Gold
      222 South 5th St.
      Montrose, Colorado 81401
      www.ColoradoGold.com
      Don Stott, Proprietor
      1-888-786-8822
      Gold@...


      El Dorado Discount Gold
      Box 11296
      Glendale, Arizona 85316
      http://www.eldoradogold.net
      Harvey Gordin,  President
      Office: 623-434-3322
      Mobile: 602-228-8203
      harvey@... 


      Investment Rarities Inc.
      7850 Metro Parkway
      Minneapolis, Minnesota 55425
      http://www.gloomdoom.com
      Greg Westgaard, Sales Manager
      1-800-328-1860, Ext. 8889
      gwestgaard@...


      Kitco
      178 West Service Road
      Champlain, N.Y. 12919
      Toll Free:1-877-775-4826
      Fax: 518-298-3457
        and
      620 Cathcart, Suite 900
      Montreal, Quebec H3B 1M1
      Canada
      Toll-free:1-800-363-7053
      Fax: 514-875-6484
      http://www.kitco.com


      Lee Certified Coins
      P.O. Box 1045
      454 Daniel Webster Highway
      Merrimack, New Hampshire 03054
      www.certifiedcoins.com
      Ed Lee, Proprietor
      1-800-835-6000
      leecoins@...


      Miles Franklin Ltd.
      3015 Ottawa Ave. South
      St. Louis Park, Minn. 55416
      1-800-822-8080 / 952-929-1129
      fax: 952-925-0143
      http://www.milesfranklin.com
      Contacts: David Schectman,
      Andy Schectman, and Bob Sichel


      Missouri Coin Co.
      11742 Manchester Road
      St. Louis, MO 63131-4614
      info@...
      314-965-9797
      1-800-280-9797
      http://www.mocoin.com


      Resource Consultants Inc.
      6139 South Rural Road
      Suite 103
      Tempe, Arizona 85283-2929
      Pat Gorman, Proprietor
      1-800-494-4149, 480-820-5877
      Metalguys@...


      Swiss America Trading Corp.
      15018 North Tatum Blvd.
      Phoenix, Arizona 85032
      http://www.swissamerica.com
      Dr. Fred I. Goldstein, Senior Broker
      1-800-BUY-COIN
      FiGoldstein@... 

      ----------------------------------------------------

      HOW TO HELP GATA

      If you benefit from GATA's dispatches, please
      consider making a financial contribution to
      GATA. We welcome contributions as follows.

      By check:

      Gold Anti-Trust Action Committee Inc.
      c/o Chris Powell, Secretary/Treasurer
      7 Villa Louisa Road
      Manchester, CT 06043-7541
      USA

      By credit card (MasterCard, Visa, and
      Discover) over the Internet:

      http://www.gata.org/creditcard.html


      By GoldMoney:

      http://www.GoldMoney.com
      Gold Anti-Trust Action Committee Inc.
      Holding number 50-08-58-L


      Donors of $750 or more will, upon request,
      be sent a print of Alain Despert's colorful
      painting symbolizing our cause, titled "GATA."

      GATA is a civil rights and educational
      organization under the U.S. Internal Revenue
      Code and contributions to it are tax-deductible
      in the United States.

      -END-
    Your message has been successfully submitted and would be delivered to recipients shortly.