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I started looking for this information hours ago...I've wasted the entire morning and will spend the rest of the day if I have to to find it. However, I did find a few interesting tidbits, not sure of the reliability of some of these. It seems the "muslim world" wants gold as their trade medium,not the dollar because of what we were discussing earlier, Non-usuary

We propose to return to gold. Gold offers stability and order. GOLD IS THE END OF POLITICAL MONEY. Gold is the end of the manipulation of the political parties and the groups of pressure against the money of all. There is no way paper money can be 'improved' as money. Political money always fails because free people eventually reject it. For short periods individual countries can tell their citizens to use paper, but only at the sacrifice of personal and economic liberty. We have reached the end of that period. We want freedom to chose our medium of exchange. We want freedom to make all our payments in gold or silver, freedom to mint, buy, sell, lend, borrow, import or export any quantity of gold and to use it in any commercial exchange.

Money in Islam - Freedom
According to Islamic Law, no merchandise can be imposed as the 'only money'. Imam Malik defined money as 'any merchandise commonly accepted as a medium of exchange. That means that people are free to chose their medium of exchange. Artificial money is a coin or a piece of paper without value as merchandise, and whose only "legal value" is established by the state. That is not admitted. But even if paper money was a debt of real wealth ;gold, silver or other specie;, which it is not, it would not be allowed either, because in Islamic Law debts cannot be used as a medium of exchange, their use is restricted within their own
http://www.moneyfiles.org/gold10.html

Then there is information we received from a very sophisticated source that a blind trust for Hillary Clinton "shorted" gold instruments just prior to the Bank of England gold sale. Ironically, the media reported yesterday that the down payment for the Clinton's new home in Westchester County, New York, came from her blind trust.

It was strongly suggested to me from a source that we try and find out if Hillary Clinton has a blind trust at Goldman Sachs. The Gold Anti-Trust Action Committee and the Café now have allies looking into this matter. We are trying to find out who is handling her blind trust(s) or any other type of account she might have and, once identified, attempt to elicit a response about the gold shorting innuendoes.

Why would this be the H-bomb as far as we are concerned? Simply put, I have set forth much commentary linking The Clinton administration, the N.Y. Fed, Goldman Sachs, Long Term Capital Management, England's Exchequer, The Bank of England and Prime Minister Tony Blair. A revelation of this nature would solidify the link. For example:

*Former Treasury Secretary Robert Rubin, is a former Goldman Sachs CEO.
*Former N.Y. Fed Governor, Ed Corrigan is a senior partner at Goldman Sachs
*London based senior partner, Gavyn Davies, is Goldman Sach's international economist and has close ties to Tony Blair. Davies wife, Susan Nye, is Chancellor of the Exchequer's office manager.
*Dr Sushil Wadhwani, former Director of Equity Strategy at Goldman Sachs International (1991-95), sits on the Bank of England's Monetary Policy Committee. The committee's duties include determining the Bank's objectives and strategy, ensuring the effective discharge of the Bank's functions and ensuring the most efficient use of the Bank's resources.
*Jon Corzine, former Goldman Sachs CEO, has close ties to John Meriwether, chairman of Long Term Capital Management.
*Former Fed vice chairman, David Mullins , was a partner in Long Term Capital Management which, of course, was bailed out in part by Goldman Sachs.

Exhibit 2 and further background information on the significance of the Hillary Clinton gold "shorting" story: this is commentary about the Bank of England gold sale from the document that I sent to Senator Phil Gramm, Chairman of the Senate Banking Committee:

"Yet, the night before the BOE announcement (May 6, 1999), I feared duplicity and this is what I wrote in my Midas du Metropole commentary entitled, 'XAU surges 46%':

"We know 'the squad' are all lining up, one more time, to try and stifle a decent gold move to the upside. Deutsche Bank, Chase, Swiss Bank and Goldman Sachs were all there selling gold during today's session and, when they had to, even throwing the kitchen sink at the bull's attack. Deutsche Bank has been especially aggressive and noticeable in their selling the past few days. We got word late this afternoon that their bullion desk is calling their clients saying that the gold market is stopping at $290. I don't think Midas followers will be surprised when we tell you that big sellers late in the day today and taking on all bids were 'Squad' honchos Goldman Sachs and Deutsche Bank. 'The Battle for Navarone' is an important stand for them, for if $290 is taken out to the upside, their long standing bearish position could begin to look a bit shaky."

The next morning I awoke to the Bank of England announcement. Since then the price of gold has collapsed over $36 - or almost 15% per cent - and the sale has ignited a furor all over the world, fostering talk of conspiracies, etc.
http://www.gata.org/cafe_des_scandales.html
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At the end of April 1999, the UK's official holdings of gold totalled 715 tonnes, or nearly 23 million fine troy ounces, with a market value of about $6.5 bn. These form part of the UK's official foreign exchange and gold reserves, which at end-April stood at nearly $37 bn including gold at its full market valuation. As indicated, the gold to be auctioned will be in London Good Delivery bars, located at the Bank of England. The initial programme of auctions will involve the sale of less than a fifth of the UK's official holdings of gold. The proceeds of the sales will be added to the foreign currency reserves.

As indicated by H M Treasury, over the medium term it is planning to reduce its gold holdings to around 300 tonnes. Detailed plans for auctions in 2000-01 and later years will be announced nearer the time, but arrangements are likely to be similar to those announced today.

The Bank of England has for many years been a supplier on demand of sovereign and half sovereign coins in wholesale amounts to bullion market members. This practice will continue.
http://www.bankofengland.co.uk/pr99036.htm

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Al-Hayat: What are the other major factors contributing to the increase in the price of gold?

Murphy: Low interest rates make gold a very compelling investment. Gold producers are buying back their forward sales, or hedges. There are concerns about terrorism and Middle East tensions, and concerns that the dollar will decline. There is a huge supply/demand deficit. Mine supply is 2,500 tonnes per year and going down. Annual demand exceeds supply by about 1,700 tonnes per year. The central banks have lent or swapped out 13,000 to 15,000 tonnes of their gold. This gold is actually sold and the banks cannot get it back. In essence, they have trapped themselves.

Al-Hayat: Do you keep tabs on the movement of gold in the Middle East and the Arab world in particular? Where does the Middle East stand in its gold holdings? Is this good or bad for those Middle Eastern countries?

Murphy: Back in my futures industry days, I dealt with a good number of Arabs, including a distinguished Kuwaiti, Talib Al Nakib, who lived in Geneva, Switzerland. These days I only hear things here and there about Arab gold buying. I do know that it has been aggressive this year. A bullion dealer friend of mine had his best day ever a few weeks ago, selling 6 tonnes of gold to an Arab group.

Al-Hayat: Some are calling for a repricing of gold and using it as the actual basis for money. How feasible is this?

Murphy: In time gold will be used more and more as money. Already the Moslems in Malaysia have the dinar and the Russians have the chevronet as gold coin money.
http://www.scoop.co.nz/mason/stories/HL0207/S00150.htm

In 1999, at a fringe meeting of the IMF/World Bank Annual Meeting in Washington, a historic five-point agreement was reached. 15 European central banks (including ECB) declared their allegiance to the idea of gold in the economy. The communiqué which was read out by Mr Wim Duisenberg, President of the European Central Bank stated:
· Gold will remain an important element of global monetary reserves.
· The above institutions will not enter the market as sellers, with the exception of already decided sales.
· The gold sales already decided will be achieved through a concerted programme of sales over the next five years. Annual sales will not exceed approximately 400 tons and total sales over this period will not exceed 2,000 tons.
· The signatories to this agreement have agreed not to expand their gold leasings and their use of gold futures and options over this period.
· This agreement will be reviewed after five years.

Although it was a European agreement, it was put together through the Group of Ten central bank governors who meet regularly in Basle, Switzerland, on a monthly basis. Japan, and US who were part of the G10, supported this agreement. In fact, Japan announced on 27th September 1999 that she too would not be selling or lending gold. The US announced, in May 1999, that neither the US nor the IMF would be selling or lending gold.

This agreement covers nearly 50% of the world's official gold holdings as the 15 signatories collectively hold approximately 16,000 tonnes (including the 2,000 to be sold by 2005) out of the world total official holdings of 33,500 tonnes. Also by 2005 UK and Sweden might be either in or preparing to be in the Euro, thus bringing their reserves under ECB control. The Euro as a result will have equal if not greater gold "backing" than the US dollar.

Alan Greenspan the Chairman of the Federal Reserve, said on 20th May 1999 to the House Banking Committee soon after Britain announced its decision to sell gold that "gold still represents the ultimate form of payment in the world. Germany in 1944 could buy materials during the war only with gold. Fiat money in extremis is accepted by nobody. Gold is always accepted."
http://www.khilafah.com/home/category.php?DocumentID=3522&TagID=1

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