[Congressional Record Volume 145, Number 116 (Thursday, September 9, 1999)]
[House]
[Page H8001]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




THE BUREAUCRATIC DAYDREAMERS AT THE INTERNATIONAL MONETARY FUND ARE AT 
                                IT AGAIN

  (Mr. GIBBONS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. GIBBONS. Mr. Speaker, the bureaucratic daydreamers at the 
International Monetary Fund are at it again. They are exploring the far 
reaches of reality and resorting to voodoo economics.
  My home State of Nevada is the largest gold producing State in the 
Nation. This vital industry helps put food on the table, buy homes, 
send kids to colleges for thousands of Nevada families. The trouble has 
been on the horizon for the past several months as the IMF has been 
scheming to dump part of their gold reserve on to the open market in an 
effort to hide its debt losses.
  Their latest debt forgiveness scheme is nothing more than smoke and 
mirrors and voodoo economics.
  The gold scheme sale will lead to a disrupted and flooded commodity 
market which translates into a plummeting economy for many countries. 
The reality in Nevada is still the same. It will cause more mines in 
North America to begin closing at an even more alarming pace and 
thousands of America's hardest working men and women will be out of 
work, unable to feed their families; all because of the IMF.
  Congress has the power to stop this ill-conceived IMF scheme and I 
urge my colleagues to oppose the voodoo economics of this taxpayer 
giveaway.

                          ____________________