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

To: Square_Dealings who wrote (79570)	11/25/2001 5:40:25 PM
From: Moominoid	Respond to of 116895

but would love to see England sign up and Euro become first gold backed currency of the new millenium Does that follow? The key issue is maybe that would stop them selling gold? Or maybe they'd dump the lot? Netherlands central bank seems to have sold some after joining the Euro? David

To: Square_Dealings who wrote (79570)	11/25/2001 6:03:45 PM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 116895

can't find all the posts/references... but currently: the ecb/euro is backed by approximately 15% in gold reserves. this was remarked upon recently by the head of the ECB.... in the last ten days or so. many cb's of member states will have large reserves even after the final hard launch of the euro Jan 1st. the germans thus far plan to keep their reserves in place and, if i remember correctly, would require a national vote to do otherwise... (can't find the article on that) From the lingering issues of maintaining sovereign identities of the EC member states, I would imagine there will be no great effort made in the near term to dump these reserves for some quick windfall to gov budgets. the gold sale agreements ending in 2004 however, might be sign, vis a vis, the nogiations on renewal, whether or not this will stay true.