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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: maceng2 who wrote (150527)2/10/2002 4:44:57 PM
From: Tommaso  Read Replies (2) of 436258
 
Have to admit this surprised me:

observer.co.uk

"The World Gold Council is compiling a report on the effects of the UK
auctions. An existing WGC analysis shows that gold makes up just
7.4 per cent of British foreign exchange reserves. In the US it is 55.6
per cent, in France 45.8 per cent, and Germany 36.8 per cent."

For all our terrible trade deficits, it appears we still have a hell of a lot of gold. That may be one reason for the strong dollar--as irrational as that may be, since the dollars in circulation world-wide so enormously exceed the value of the gold and cannot be exchanged for it.

Uncle Sam, it appears, is a gold bug.
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