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

To: Bill Grant who wrote (9276)	4/3/1998 7:31:00 PM
From: Broken_Clock	Respond to of 116763

Bill... I think that the underlying scare here is in what was stated in the article. The risk is that the EU uses MORE gold in the reserves...Why? Well, how does a country obtain the necessary gold...why, buy it of course...on the open market. Talk about a short squeeze. Imagine, by law(the treaty) all these countries dumping dollars & treasuries to buy gold. This no doubt would start a stampede worldwide for PHYSICAL gold...thus making ANOTHER the formost gold prophet in this century! As US$ get more worthless, gold gets more expensive. Those Can. Mounties are looking pretty good now! The spillover in Asia would be a disaster for the US. Now think this thru a little more....It would be the USA getting drained of gold as the $ enters hyper-inflation ala 1921 Germany as we are faced with paying our international debts with what? US$ that could easily be worthless! How'm I doin' 49r? PK