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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST
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To: Crimson Ghost who wrote (7165)2/3/1998 4:28:00 AM
From: Albert V  Read Replies (2) of 116764
 
The Euro may replace the dollar as the world reserve
currency. A lot of people are pessimistic on the Euro,
but i understand that the EU imports and exports TWICE
as much as the USA. This would naturally lead to
using the Euro as the reserve currency, don't you think?
Imagine if the Arabs, to retaliate against the USA,
started demanding payment for all their oil in EURO instead
of DOLLARS. This would immediately establish it
as the reserve currency I would think.
NOW consider what would happen if those billions of
dollars now in central bank vaults and circulating in Ukraine
etc were replaced by EUROS. The dollar would collapse
would it not??
Regarding Japan, I read in Barrons that they have been
creating money at a rate of ....1% PER DAY!
Hope someone can tell me what this means to us!!!
Albert
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