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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (27239)	1/3/2008 12:48:43 PM
From: RJA_	Read Replies (1) \| Respond to of 217869

>>... No growth ==> no increase in living standards, ==> recession, depression>> >>IS PRECISELY WHAT IS HAPPENING AND WILL CONTINUE UNTIL THE CLEANSING OF PRIME EVIL IS DONE. That had occurred to me when you consider gold to be the money. Of course, it is still substantially less than the majority of folks on the planet and certainly officialdom that officially agrees on same and that is precisely the opportunity at present as gold changes from commodity to money... Interestingly, I recently sent an inquiry to the ECB to see how gold was valued on their balance sheet and got back an interesting ans sensible answer (unlike the US): (their updated financial statements are reported on the ECB website) Dear Mr RJA, We herewith acknowledge receipt of your email of 27 December. The valuation rules for gold can be found in the so-called "Accounting Guideline" of november 2006 on the ECB's website under the below link. ecb.europa.eu In short, gold in the Eurosystem consolidated balance sheet is revalued at each end of quarter according to a market price in Euro per fine ounce troy. The price is calculated by applying the relevant EUR/USD rate to the price in USD per ozf. at the London fixing of the same date. As the balance for 27 December 2007 reflected the end-September rate of some EUR 520 per ozf, the balance represents just under 355 million ozf. During the quarter in question, the euro amount includes the effect of realised gains and losses on sales of gold; at end quarter, these are stripped out and transferred to the profit and loss accounts of the Eurosystem central banks (part of "other liabilities" in the conslodiated balance sheet). During a given financial year, the quarterly revaluation changes are shown in the balance sheet, either within "other assets" (if valuation losses) or under "revaluation accounts" (if gains). At year end, revaluation losses are offset against the revaluation account, and any exceeding the relevant balance on the (gold) revaluation account (not shown separately in the consolidated statement) are expensed. We hope this information proves to be useful to you. Kind regards, ECB Press and Information Division