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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (6873)	7/25/1999 1:00:00 PM
From: Enigma	Read Replies (2) \| Respond to of 82038

Z - not at all - a reserve asset whether it be $US, Marks, pounds, or gold - can be interchanged - but this does not mean that gold in this context is convertible. For gold to be convertible means that it will be exchanged on presentation of the currency - which is what happened in the States until 1971 - when De Gaulle was presenting bucket loads of dollars for gold at $35/oz - when the black market price of gold was substantially higher - so Nixon shut the gold window. I have seen no data to support your contention that gold in reserve is somehow held in relationship to GDP or currency in circulation - or has been for decades. d