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To: IngotWeTrust who wrote (1140)	1/19/1998 12:01:00 AM
From: philv	Respond to of 1756

O/49r: Re: New (Yet Another) Central Bank You may recall I posted a couple of URLs in reference to G. Soros. Message 3091277 Well, it now seems to be coming to past. Read the following: nando.net Layer upon layer upon.....what is it leading up to? Obviously a single world standard. Phil

To: IngotWeTrust who wrote (1140)	1/20/1998 11:36:00 AM
From: Richnorth	Respond to of 1756

Brown's stance: UK 'will not join Emu before 2002' By Robert Chote and Robert Peston in London Gordon Brown, the UK finance minister, said yesterday that it would be unrealistic for Britain to make the decision to join a single European currency before the next general election, due by spring 2002. In an attempt to end weeks of damaging confusion about the government's intentions, Mr Brown ruled out joining economic and monetary union from its proposed start date on January 1 1999. He also hinted at ruling out a decision before the next general election. "Barring some fundamental and unforeseen change in economic circumstances, making a decision during this parliament to join is not realistic," Mr Brown said. But he said in a statement to the House of Commons that in principle the government would like to abolish the pound and adopt the euro. In doing so, he appeared to be setting the battle lines for the next general election, positioning Labour as committed to taking sterling into a successful European single currency. The Conservative party has declared that it would oppose joining Emu in the next general election. The financial markets showed little reaction to Mr Brown's statement, which was in line with expectations. Sterling firmed and government bond prices fell slightly. Mr Brown said Britain should join Emu if it proved to be a success, if the economic case was unambiguous and if the electorate voted for it in a referendum. Differences in economic structures and business cycles with other European Union member countries meant it would be some time before it was clear that the UK could live with a single European interest rate. But in an effort to maintain the momentum for participation, Mr Brown said that government and business should begin intensive preparations to join "should we wish to, early in the next Parliament". He said once convergence had been achieved with other European countries, Britain would benefit from increased investment and higher employment levels in a successful Emu. Mr Brown's statement was welcomed by Eddie George, governor of the Bank of England, and by the European Commission. "It provides a much firmer basis on which British business can plan for the future," Mr George said. The commission said it welcomed the positive UK attitude to the euro and its determination to prepare intensively for entry. But Peter Lilley, the Conservative party's financial affairs spokesman, said the government's policy "amounted to a death sentence of the pound".

To: IngotWeTrust who wrote (1140)	1/20/1998 11:53:00 AM
From: Richnorth	Read Replies (1) \| Respond to of 1756

From stratfor.com, the 4th paragraph from the end of the article, 1998-The Year of Logical Consequences, sez:- "We have predicted in the past and we continue to predict that European Monetary Union will not happen. The United States imposed a single economic policy on the agricultural South and the industrial North only after a Civil War--and the South still hasn't forgiven the North. The idea that Greece or Portugal will accept a monetary policy suitable for the Netherlands, and will do so voluntarily, boggles the mind. Some nations may join some sort of monetary convention, but a general European currency will not happen." ********************************************************* P.S. I wish to acknowledge I have borrowed the above URL which appeared on the Gold Price Monitor. My thanks and apologies to the one who posted it there.