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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Mark Bartlett who wrote (38437)	8/5/1999 11:59:00 PM
From: kimberley	Read Replies (2) \| Respond to of 116764

Mark, I think Italy, France, Germany and Swizerland have something like 2800-3500 tonnes each, and the U.S. over 8000 tonnes. Is that what you were looking for? glad you're back! doll

To: Mark Bartlett who wrote (38437)	8/6/1999 4:34:00 AM
From: Alex	Read Replies (1) \| Respond to of 116764

Volcker sees fewer currencies in global economy SYDNEY, Aug 6 (Reuters) - Former U.S. Federal Reserve chairman Paul Volcker said on Friday that the current array of floating exchange rates will eventually converge as a result of increasing economic globalisation. Volcker said that business people were increasingly fed up with the degree of volatility and uncertainty produced by the existing exchange rate system. ''I think the basic instinct is right. The ultimate implication of the global economy is fewer national currencies,'' Volcker told a U.S.-Australian business lunch. ''It simply makes no sense in an integrated world to have so many exchange rates moving so widely without a reasonable relationship to economic fundamentals.'' He said the eventual alignment of currencies was likely to be a dollar bloc, the euro bloc and some sort of Asian grouping. And it would take another one or two financial crises before any shift was actively pursued. The former Fed chairman, who tamed double-digit U.S. inflation in the 1980s, said the crises that had engulfed emerging economies over the past two years could be linked to other problems that have periodically plagued the global financial system since the early 1980s. Volcker had some words of praise for the Australian economy, which he noted had achieved solid growth, price stability and an improved unemployment rate. biz.yahoo.com