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To: Lightning who wrote (19253)	9/18/1998 3:08:00 PM
From: long-gone	Respond to of 116761

Maybe, then how about this, much has been rumored about the Swiss sell of gold. Here is a bit from JML about the Swiss Franc being Gold backed(40%): What accounts for the Swiss franc's strength? <Picture>Economic fundamentals. A history of low inflation and current account surpluses are crucial determinants of the Swiss franc's long-term performance. The currency has retained its purchasing power better than any other currency over decades. <Picture>Gold-backing. The franc is more than a paper currency -- it is backed by gold. Swiss law requires a minimum of 40% in gold reserves for every franc in circulation. At today's gold market price, actual gold reserves significantly exceed currency in circulation. High gold reserve requirements have discouraged rapid money supply growth, with the result that Switzerland's record on inflation is among the best in the industrialized world. <Picture>Sound policies. The Swiss National Bank has indeed proven its worth in creating the world's best-managed currency. In large part, this is due to its high degree of autonomy from political influences. It is thus better able to concentrate on its primary goal of fostering price stability. It would be wrong to suggest that any currency can provide a foolproof store of value for your investments. Or that any currency's long-term outlook won't be beset by short-term reversals. Yet the strong performance of the Swiss franc throughout most of the era of floating exchange rates reflects fundamental monetary, economic and political conditions which have not significantly changed. jml.ch rh

To: Lightning who wrote (19253)	1/2/2000 7:25:00 PM
From: long-gone	Respond to of 116761

(In Part) A few glitches popped up in Japan, where the Financial Supervisory Agency (FSA) said on Sunday one foreign bank and 15 domestic brokerages had reported Y2K-related system problems. The FSA said 14 of the 15 had fixed the problems on Sunday. The FSA, which did not identify the institutions reporting the glitches, said the foreign bank had identified problems that might result in the loss of historical data when customers try to retrieve system transaction information... biz.yahoo.com