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

To: Keith Monahan who wrote (66940)	4/3/2001 2:15:56 PM
From: Rarebird	Read Replies (2) \| Respond to of 116946

The Euro and Canadian $$$. Europe will stand with a cash Euro - a full reserve currency resting on a base of more than 300 million Europeans and with a global reach as wide as the reach enjoyed by the U.S. Dollar. On January 1, 2002, Europe will have re-gained its global monetary independence. Standing with more Gold in its national Central Banks and in the ECB than any other large economic area, Europe is already pre-placed politically and monetarily to buttress and support the Euro's current 15% Gold cover by simply increasing that Gold backing. Greenspan is again in maniac money pumping mode. Look at the consequences of what he has previously done. His lengthy period of credit expansion has had the monetary effect of flooding the U.S. with money, money which presently exists, and money that is still flowing out of the U.S.A. even as the U.S. economy is slowing down and its stock markets are in retreat. The evidence for this is the U.S. current account deficit. For the year 2000, the deficit has surged to reach a record $US 434.5 Billion. This is a 31.1% increase over the $US 331.5 current account deficit of 1999. At that rate, the U.S. current account deficit would almost DOUBLE every three years. The Europeans are observing all this, and they are not prepared to blindly copy it. Most of the EU economies are rolling along quite nicely with only some marginal contractions appearing because of slowing exports to Asia. And EU rates of monetary expansion are actually slowing - slightly.