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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Eva who wrote (14712)	7/24/2003 3:20:54 PM
From: Canuck Dave	Respond to of 39344

I have to admit I was shocked when I saw that too. Sell the gold and let's party! I read a very sobering review of a book on Germany of the 1920's before and during the hyper-inflation. Women saving for marriage had their doweries wiped out, old people were bankrupted, and the population lost all will to work. I can see it coming here. Got gold? CD

To: Eva who wrote (14712)	7/24/2003 3:24:45 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 39344

Read it all eva, ...and all monetary decisions are made by the ECB Geez! What a buzz about a Joint Statement which was published by a simple press release. Only correct sentence, more or less, in the FT piece was: Apart from Germany, the central banks of France and Italy, which are also running large budget deficits, have large gold holdings. They just forgot Netherlands (small country, but a G10 country nevertheless). What they also forget to say (well, this is a UK paper), UK would have to buy-back her sales (somewhere between 120 and 160 tons of gold) if UK ever was to join the Euro club. Euro club central banks have an entry ticket of 15% of gold reserves to remit to the ECB. OK. European Central banks could sell their surplusses (more than the 15% ticket) to diversify their reserves. Into what? Competitive devaluating currencies?