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Gold/Mining/Energy : Gold Price Monitor
GDXJ 93.98+0.6%Nov 21 4:00 PM EST
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To: Bill Murphy who wrote (26213)1/14/1999 10:08:00 PM
From: Hawkmoon  Read Replies (1) of 116764
 
Interesting take Bill,

If the ECB is indeed buying gold to strengthen their Euro over the US dollar, they are playing a VERY dangerous game of global economic chicken.

Is is really so worth it to force the Euro into an artifical place as global reserve currency when the underlying fundamentals of your 11 member economies does not rate a stronger Euro. And in fact, a stronger Euro would exacerbate recessionary trends in those economies as exports would be curtailed by the Euro's strength.

Furthermore, such a deliberate attempt to undermine the dollar in such a flagrant manner invites retaliation from the US in a number of areas, especially Bosnia and the Mid-East. It makes it difficult to understand the end game when the means require drastic destabilization of other currencies by returning to a gold standard and assisting in forcing a short squeeze in precious metals markets.

So much for talk of the New World Order.

If CB's are starting to cut each other's throats (ECB vs Fed), I don't see any chance of a one-world government anything soon... :0) The Fed selling gold while the ECB is buying it doesn't sound much like a mutual conspiracy to me. In fact, it sounds like a deliberate attack on another countries currency, namely ours. I don't believe it will go unanswered.

(That is, if your reports are based upon solid info)

Thanks again Bill.

Regards,

Ron

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