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

To: Abner Hosmer who wrote (9463)	4/6/1998 12:57:00 PM
From: Broken_Clock	Respond to of 116764

thomas, I agree...but what are the backing ratios then? Thanks for clarifying that for me.

To: Abner Hosmer who wrote (9463)	4/6/1998 12:58:00 PM
From: Pete Schueler	Respond to of 116764

Tom, Looking in this week's Barrons I see the following numbers... M3= $5.54 Trillion Monetary Base= $500 Billion (sum of balances of depository institutions at Fed Reserve banks + currency in circulation) Gold= 261.7 Million troy ozs @ $310/oz= $81.1 Billion I'm not sure about these numbers but I think they mean that we have about 9 cents in total reserves per $ outstanding and about 16% of the 9 cents (1.44 cents) is backed by gold. Is this a reasonable interpretation? Can anyone offer corrections? Regards and congratulations for this fine forum. Pete