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Gold/Mining/Energy : Barrick Gold (ABX)
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To: nickel61 who wrote (2136)9/27/2000 12:01:39 PM
From: goldsheet  Read Replies (1) of 3558
 
> why are eigty percent of the United States Foreign Exchange Reserves in GOLD

Was around 50% the last time I checked. Book was something like 11B out of 66B, but gold was booked at 42.22 Market would be 71B out of 126B, 56%.

I do not know why, but I think you would be concerned that 261 million ounces of US government gold could be used to manipulate the gold markets. They could distribute 1 ounce to each US citizen in order to eliminate this concentration of power. This would allow the common man to "vote" on the monetary value of gold: they could either hold it as a store of value or convert into fiat currency to buy beer and cigarettes <g>
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