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Gold/Mining/Energy : Euro Impact on Gold, USD ... -- Ignore unavailable to you. Want to Upgrade?

To: banco$ who wrote (78)	11/25/1998 12:25:00 AM
From: baystock	Read Replies (1) \| Respond to of 289

banco$ - IMO the only way a country will use their gold reserves to make currency instead of using paper to do so is when confidence in their currency is completely lost and they have no choice. Why else would they give up such a great scam of literally creating money out of nothing!

To: banco$ who wrote (78)	11/30/1998 11:38:00 PM
From: banco$	Respond to of 289

No consideration to sell excess gold reserves according to Bundesbank member. Nov 30--Bundesbank council member Hans-Juergen Koebnick said today that selling excess Bundesbank gold reserves after European Monetary Union next year was "no topic at all" for the German central bank. In other words, it was not on the agenda. In a Bridge News interview, Koebnick also did not expect other eurozone central banks to dump gold on the market. By Lita Olbrich, Bridge News, Story .10169 (from GPM post 23661) France allayed fears of gold sales with similar statements a few months back. Further, member states need ECB approval to sell any gold reserves.

To: banco$ who wrote (78)	12/1/1998 7:38:00 PM
From: banco$	Respond to of 289

WGC bulletin confirms Reuters' report on minting of euro gold coins. (Coins are not for currency and restrictions apply.) World Gold Council: 1 December 1998 "European finance ministers meeting in Brussels approved the issuance of a gold euro collectors coin after the launch of the single currency (i.e. after December 31, 2001). While the coin will be legal tender, it is not intended for circulation, being defined as a commemorative and bullion coin. It is envisaged that each member state of the EU will produce coins, with the volume struck being subject to the approval of the European Central Bank." Reuters: 23 November 1998 Message 6536877

To: banco$ who wrote (78)	12/1/1998 7:55:00 PM
From: banco$	Respond to of 289

ECB to value gold reserves at market prices: "On Monday the president of the Dutch central bank, Arnout Wellink, said that the European Central Bank will value its gold reserves at market prices. The central banks of the 11 nations participating in monetary union currently use different methods to value their gold reserves, ranging from market related prices to the Bundesbank's traditionally conservative valuation." (World Gold Council, 1 December 1998, referring to Monday of last week) Less bullion will be required for EMU if it's assigned higher valuation than that used by Germany or the U.S. Fifteen percent of the ECB reserves will be held in gold.