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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

4:00 PM EST

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To: Terry Rose who wrote (11880)	5/18/1998 9:58:00 PM
From: PaulM	Read Replies (2) of 116825

Terry, I would welcome anyone's thoughts on the Euro. There's been plenty of speculation (and maybe hope) amongst goldbugs that a strong, gold backed Euro (or an ECB with lots of gold reserves) would weaken the dollar and strengthen gold. It's all fine and good to say the Euro will be strong at inception, but a currency's strength is measured over time. And over time, I question whether Europe can afford a strong currency. They're national debts are worse than the U.S.'s as a percentage of GNP. Entitlements are the rule. Putting aside national differences, can that debt and those entitlements be paid without weakening currency?

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