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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v)

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To: CLK who wrote (1711)	3/26/1998 11:36:00 PM
From: Henry Volquardsen	Read Replies (3) of 3335

Off topic to CLK Sorry I had to run out for a second. Just to finish up. As I said in the previous post I believe the Central Bankers are making statements at the moment that are clearly designed to assuage German public opinion. However I also don't want to give the impression from the number exercise that I believe they are going to sell gold. The statements made have been, when closely analyzed, relatively limited. They may or may not continue to hold gold on a national central bank level. No commitments have been made in this regard. BTW I realize I said earlier that the German public likes gold behind their currency. So do the French and several others. The politicians know this. This is why they will tell them that 30% of the reserves behind the Euro will be gold. They just forgot to mention that there will be no where near 1 to 1 reserves to currency and that in fact reserves for the new Euro will be less than for the old currencies. Central Bankers speak with forked tongue. I'll also mention what I believe will be the major agenda of the Europeans in the coming years. Over the last several years the Europeans have been under very tight fiscal restraints while preparing for the Euro. There has been a lot of pain and unemployment. The politicians have sold this as a requirement to get the benefits of the Euro. Now that they have the Euro they will have to deliver and that means jobs. I believe that means they will make every effort to stimulate job growth. While this doesn't require a weak currency it would certainly help if the Euro didn't strengthen. I don't believe they will take any steps to deliberately strengthen the currency so I not worried about the dollar being caught in a gold trap. Well my hands are beginning to ache <G> I hope this has been helpful. I look forward to chatting. Henry

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