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Gold/Mining/Energy : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (3699)	5/28/1998 11:33:00 AM
From: xdll	Read Replies (1) \| Respond to of 34075

>Absolutley not true. The European Union has made it very clear what >the reserves behind the Euro will be. 20 to 30% of reserves will be >held in gold, which is the same as the current gold reserves for the >countries that will be joining the Euro. Their total reserves post >Euro will be only 20% of current total reserves so there will, in >fact, be less gold backing for the Euro than there is currently for >the deutschemark, lire, peseta, franc etc. Huh? The EU to my knowledge has not made any definitive statement. It was expected in the may meeting but not yet alas. You are correct in that the Euro will not be gold backed, the discussion is in the make up of reserves. In terms of more or less backing, this is not really relevent regardless of the decision since Germany, France and Italy hold the bulk of the gold and have said they will not be selling. The whole area of who is trying to 'pump some action' and who isn't is probably one of the most interesting conspiracy theories ever. One thing is for sure, there is a lot of evidence of political manipulation. x

To: Henry Volquardsen who wrote (3699)	5/28/1998 11:39:00 AM
From: Diamond Daze	Read Replies (1) \| Respond to of 34075

Actually I read 37 % in Barrons.... Cheers (euro dollar percentage backed by gold )

To: Henry Volquardsen who wrote (3699)	5/28/1998 9:16:00 PM
From: Cytotekk	Read Replies (3) \| Respond to of 34075

The last I have heard on National Public Radio, the matter has not been decided upon. Barrons has stated that one proposal for the Euro Dollar % of gold back was more than 30%, I heard this second hand. With a lot of the world governments selling off portions of their gold reserves, I just wonder... 1. How stable will currency be in the future and 2. Where is all the gold going? Perhaps the low POG reflects the off loading of gold by governments who believe that no one cares about a gold standard. A few world crises and I guess we will see how solid their paper is. Cytotekk- loving gold.