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

To: Alan Whirlwind who wrote (17551)	3/16/2003 2:52:14 PM
From: sea_urchin	Read Replies (2) \| Respond to of 81163

Al >they will eventually back currencies with gold again. The paper experiment is due for enough further failure to necessitate so. I have to say that I can't see why. Had there been widespread inflation with breakdown of confidence in the various currencies I would agree with you. But what I notice is virtual universal recession and, in fact, more deflation than inflation. In the circumstances, paper money retains its value and therefore there isn't any reason to "back" it with anything. To support my opinion, here is a chart of 30yr US Bonds. As you see, it's at a five year high. treasurestatefutures.com Confidence reigns.