Dieboldly, read this:
http://sheldonbrown.com/fixed/index.html
and this:
http://sheldonbrown.com/singlespeed.html
Very important to read this:
Fixed Gear Singlespeed Newbies Start Here!!
And also:
http://www.bikeforums.net/showthread...imer-for-Newbs
That frame of yours looks like a Gitane Tour de Luxe, a 70's Boom Bike, and probably has a French bottom bracket. French bottom brackets are hard to find but here's one place that sells new ones:
http://store.velo-orange.com/index.p...y-cups-26.html
My strong advice is to check out the information in the links I posted above and then buy a fully built bike. There's a website called BikesDirect that has a lot of bikes priced cheaper than you would end up spending fixing up that old frame. Here is a very popular choice:
http://www.bikesdirect.com/products/...essenger_x.htm
It is a lot of fun to build up a bike but it is not cheaper.