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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Real Man who wrote (100688)5/8/2001 6:38:33 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
the ECB isn't selling any gold. the main sellers in Europe are the BoE (almost finished) and the SNB(will take a while since the WAG limits the amount that can be sold annually, but they do it in an unobtrusive manner).

the problem the world's big CBs face is that any hint of their trying to diversify out of the frizzle could potentially precipitate an avalanche. whether or not that fear is justified will imo sooner or later be put to the test anyway.

note recent discussions re. the Euro...one of the main culprits of Euro weakness is very likely the fact that notes and coins haven't been introduced yet. practically all of Eastern Europe's savings switched from the DM into the dollar because of that, and the illicit funds did as well.
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