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

To: Alex who wrote (44699)	11/8/1999 1:17:00 AM
From: d:oug	Read Replies (2) \| Respond to of 116753

Alex, I found that article interesting and would like to ask some questions about certain portions of it. I invite all on this thread to comment and follow thru with others rather than I. gold-eagle.com <<Frankfurt could supersede London as Europe's financial capital>> Question: Is this a gold issue ? <<If the POG were allowed to rise, ... US dollar would lose its importance as international reserves, ...the euro appreciates in relative value, thus becoming a reserves currency for many countries of the world.>> Question: Is there any world consensus that the euro is both strong and stable enough in the present and long term to serve the same function or purpose officially and unofficially as now being utilized thru the US dollar ? <<It is imperative to recall that Euro-block currency is backed by 15% gold. >> Question: Is this true, and if so, why such importance does this article's author place on this fact ? I have no idea if the US dollar is backed by a percentage of gold, or if the dollar is simply understood to have USA gold reserves. <<...if the dollar price of the shiny metal rose to $500/oz, the euro gold backing would leap to 25%. Consequently, US monetary dominance would plummet as London's heretofore European financial control is transferred to Frankfurt (headquarters of the nascent European Central Bank)>> Question: Doesn't this first need the world to accept the euro as being able to accomplish what the US dollar has been doing for many years ? Using simple history facts I have not noticed those nations of Europe working together in a strong and unified way except under conditions of world wars. thanks Doug