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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who wrote (39825)	11/21/2000 6:27:14 PM
From: pater tenebrarum	Read Replies (3) of 436258

well, the proper conditions, the end of the journey, should see a huge spike in new lows and capitulation volume...that's puke city. more gold noises: By Melanie Lovatt, Bridge News Former BOE official says gold still has role in CB reserves London - Oct 20 - Gold still has a role to play in reserve strategies, even today, said Terry Smeeton, a former head of foreign exchange division of the Bank of England and currently a non-executive director of Standard Bank London Ltd. He said that beliefs that "the future will be a continuation of the present," are suspect and that it is unwise to think that economic conditions will remain benign. "The ECB's 15% of gold in reserves is not a bad yardstick although my preference is 20%," he told delegates at the Ninth City of London Central Banking conference…. END. This follows Bank of Italy Governor Antonio Fazio who said on Friday that "in periods of crisis gold can constitute a sort of reserve or guarantee of last resort for a country." Fazio went on to say that central bank gold reserves had decreased to 32,000 tonnes. END.

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