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Gold/Mining/Energy : Golden Eagle Int. (MYNG)

MYNG 0.0700

+5.7%

Feb 21 4:00 PM EST

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To: Cytotekk who wrote (3679)	5/28/1998 9:15:00 AM
From: Henry Volquardsen	Read Replies (3) of 34075

Cytotekk, By the way, the common market still has not decided whether they will use a gold standard, they just might. Absolutley not true. The European Union has made it very clear what the reserves behind the Euro will be. 20 to 30% of reserves will be held in gold, which is the same as the current gold reserves for the countries that will be joining the Euro. Their total reserves post Euro will be only 20% of current total reserves so there will, in fact, be less gold backing for the Euro than there is currently for the deutschemark, lire, peseta, franc etc. The Euro will not be gold back. The notion that it would be gold back was started by gold 'analysts' who were trying to pump some action into gold.

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