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

To: Alex who wrote (11463)	5/9/1998 1:32:00 PM
From: goldsnow	Respond to of 116834

Alex, ECU affair with gold reserve boils down to a very simple (IMO) dilemma. That dilemma was formulated well previously by several people (most recently Ole) Who is buying? It is no way, IMO France and Germany (and we know Italy) would put their countries in a position of uncertainty with drastically reduced monetary and political cloud of their gold reserves for a sake of...(that I can not even formulate) More 4-8 tons would be absorbed in less than 3 years, giving a lot of leverage to forces that are quite anti-Europe....That is not even including question of pride, and heritage...To think that France would have less gold than Swiss is just not going to happen... No matter what a % of gold, IMO there will be a mechanism to ensure ECU largest possible role in maintaining say in setting a POG.. They are not going to give the remnants of their remaining influence that easily..