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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Abner Hosmer who wrote (9267)	4/3/1998 6:52:00 PM
From: Terry Swift	Read Replies (1) \| Respond to of 116766

Tom: I don't know if that's what Rose is suggesting but that's what I suggest will be the probable end game for the Euro. I agree with Rose that Germany, France, and Italy will have their way in setting the gold reserve % and it will be closer to 30% than the 5-15% we've been hearing. To make the Euro THE strongest currency in the world (and allow the European countries to dump their dollars) it would not be a big step to partially back the Euro with gold at a fixed exchange rate; i.e., the 30% they will have in reserves. That would make the Euro the pre-eminent currency in the world, bring a stability to the European monetary environment that it hasn't had in a hundred years, and lay the groundwork for European economic growth and the pride that goes with it that Europe had in the 19th century when it dominated the world. The next year will be some interesting times for Europe, Asia, and our markets. I believe events in Europe and Asia will have a very negative effect on our equity and credit markets. Good luck. Terry