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

To: alex ma who wrote (12797)	6/9/1998 7:43:00 PM
From: Richard Mazzarella	Respond to of 116796

Alex, bingo! Maybe back the Euro with AOL or Yahoo stock? <VBG>

To: alex ma who wrote (12797)	6/9/1998 9:44:00 PM
From: Terry Rose	Respond to of 116796

alex ma, Thank you for your post. When the Euro representative gave his spiel I was dumbfounded to say the least. 10-15% gold reserves are inadequate to take out the dollar if this is their ultimate goal let alone establish stability with all the paper wealth floating around. Why hold any gold? However you got me to thinking. Quite possibly his statement was purposefully misleading in that all he stated was the consensus wanted these levels. However the big three Italy, Germany, and France (non-consensus) will decide the amount of gold reserves and it still may be 25-30%. In my opinion there are enough financial fires burning throughout the world that I want my own personal financial home made out of something fire resistant. Paper vs. gold. The choice is simple. Terry,

To: alex ma who wrote (12797)	6/9/1998 10:52:00 PM
From: Abner Hosmer	Read Replies (1) \| Respond to of 116796

Alex Ma, That post from Kitco looks like another example of a failure to make the distinction between a currency that is 10-15% backed by gold and a currency whose reserves are denominated 10-15% in gold. The difference is an order of magnitude.

To: alex ma who wrote (12797)	6/9/1998 11:42:00 PM
From: Henry Volquardsen	Respond to of 116796

I doubt they are trying to manipulate the POG lower, after all the European CBs own a lot of gold. Also the referenced posters comment is a bit off regarding percentages. 10 to 15% may be a large number but it is a reduction from the 25-30% they currently hold. Also the ECB reserves will only be 20% of current reserves. The other 80% will remain with the national CBs. If the contribution calls for the upper limit indicated by Duisenberg, 15%, then the national CBs will be holding close to a third of their remaining reserves in gold. Why would they have an incentive to depress the price?