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To: kimberley who wrote (8490)	3/18/1998 5:55:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116764

When the Belgian spoke of 33 1/3% of external reserves being in gold I wonder if he wasn't talking loosely here as well. Maybe the distinctions aren't as important as we have been thinking. The new EMU bank will apparently have a 'call' on the gold reserves of all the member banks - which means that they can't just go off and sell/lease gold without the permission of the central authority - otherwise there would be a state of chaos, which would not be desirable when the common folk are being asked to place their faith in this new scrip! Also - how is the member countries' gold being transferred to the central bank - by physical transfer (like the UK in the war to pay for lend/lease),or by some sort of IOU or Certificate? If the latter then the distinctions between central bank gold and member states gold become a little blurred and the significance of the former (cbg) becomes diminished. Are the regulations available? World Gold Council?

To: kimberley who wrote (8490)	3/18/1998 6:10:00 PM
From: Abner Hosmer	Read Replies (1) \| Respond to of 116764

Kimberly - Sorry that I misunderstood. Yes, that is exactly what he meant. This same exact reasoning has been given by a number of central banks who have sold in the past year, including Australia and Argentina, and has been so widely discussed on this thread that I just assumed we were all on the same page. It is also the reason being given by the Germans, amongst others, for making a larger portion of their gold holdings available for lease. Seems everyone is trying to squeeze the last dollar in interest out of their reserve assets. regards - Tom

To: kimberley who wrote (8490)	3/8/2001 11:57:00 PM
From: long-gone	Respond to of 116764

gag gag cough cough Thursday March 8, 11:14 pm Eastern Time Indonesian rupiah hits 10,000/dollar, 29-month low SINGAPORE, March 9 (Reuters) - The Indonesian rupiah hit a 29-month low of 10,000 per dollar on Friday as local companies sought dollars for debt servicing needs amid growing gloom about the political and economic picture. Singapore dealers said it slid to 10,000, the first time it had touched that level since October 7, 1998, according to Reuters Graphics data. Dealers in Jakarta said state banks had been spotted selling dollars in local currency markets all morning as the rupiah extended its slide. Bank Indonesia was also seen intervening directly early in the day, selling an estimated $20 million at 9,920/30 rupiah, dealers said. The central bank was not immediately available for comment. The rupiah has come under growing pressure as heavily indebted local companies buy dollars to make end-quarter payments on foreign loans. Mounting pessimism about President Abdurrahman Wahid's shaky leadership and a long-running spat with the International Monetary Fund, which could jeopardise a $5.8 billion debt rescheduling deal with the Paris Club of official creditors, have also weighed. The IMF delayed a $400 million loan to Indonesia in December due to concerns over central bank independence and regional autonomy laws. biz.yahoo.com