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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU
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To: Ray Fidler who wrote (2594)2/7/1998 5:12:00 PM
From: Ray Fidler   of 4718
 
There was an article in today's Financial Post with a title "European Central Bank should hold gold". The finance ministers and central bank governors of all the European Union countries will be meeting March 20 - 23 for a final round of meetings prior to deciding on European Monetary Union and the single-currency issue. They will also, no doubt, discuss issues arising from the formation of the new European Central Bank, such as the composition of its reserves - whether gold should be included and, if so, to what degree.

At the end of the article the author states, "In the face of such a high degree of uncertainty, Europe's central bankers should not pass up any opportunity to build confidence in the new currency from the outset. Gold provides that opportunity."

By the way, in the same paper but in a different article, it was mentioned that billionaire George Soros said, "Unless major reforms are undertaken to correct the current international system of foreign exchange, it will collapse by 2007." I could not agree more with that statement, and if the governments (including the finance ministers and central bankers) don't figure out ways to stabilize the currencies of the nations hell will break loose early in the next century.

Regards,
Ray Fidler
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