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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (18857)	5/6/2003 11:24:36 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 89467

jm, as for the 15x greater gold backing of euro currency... I expect this to be of monumental importance, but in the future Why? I consider that this is merely words contained in a propaganda package. In what sense is this gold of any significance? If you could reliably depend on being able to convert euro paper into gold, then the euro would be as good as gold. But there is not even a promise to do this, independent of its believability. If you believed that euro supply would be restricted to 1/.15 times the gold held, it might be a confidence factor, but this is not believable to me. The only other problem I have is with 'ABOUT DEFAULT OF TREASURY DEBT AND CONVERTIBILITY'. What convertibility is there left to default? Regards, Don