Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Enigma who wrote (23655)	11/30/1998 9:06:00 PM
From: banco$	Read Replies (2) of 116764

E, As far as official ECB statements, no. The word "gold" is deliberately obliterated from almost every transcript, document, speech or press release that I have seen regarding EMU. I'm not concerned about the ECB selling gold reserves as they are precious backing for the new currency. The EU would not agree on a portion of gold to back the euro, 15 percent, and then start tampering with it. I know very little about the leasing activities; they tend to be "off book" or at least off the books that the public is privy to. Please let me know if you're aware of leasing stats. I understand that the ECB may approve or disapprove of sales of excess bullion reserves by member states. Still I do not see the ECB approving sales before say 2003 at least, there's too much at stake between success of the new currency and the fact that member states are responsible for their internal affairs and debt. If the big three did not sell gold in the past or at higher prices, they should remain unlikely to do so in the future, especially given the risk of failure or the impression of weakness upon selling. It is these important central bankers I've seen quoted as not selling reserves after inception of the euro (save Italy). There is one legal document specifically pertaining to gold in a government site if I'm not mistaken. I almost posted it a while back because it's an aberration to every other EMU document because "gold" is used hundreds of times over within.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next