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To: Ptaskmaster who wrote (24111)12/10/1998 8:31:00 PM
From: John Hunt  Read Replies (2) | Respond to of 116972
 
Re CB Gold Holdings

One of the problems of posting vs lurking is that people start to ask intelligent questions.

In sitting here thinking about what politicians might do, I must confess I havn't really got a clue ... perhaps that's why I was an engineer and not a politician. < g >

I guess that historically, they have always taken the easiest way out, which probably means print more money.

Hopefully, someone else can provide a more comprehensive answer.

John






To: Ptaskmaster who wrote (24111)12/11/1998 7:07:00 AM
From: long-gone  Respond to of 116972
 
<<I'm curious about the CB reevaluation of gold holdings. If European CB marks gold holdings (comprising 15% of reserves) to market, will this be an incentive to print more euros or reduce the tonnage of gold held?>>
It is cheaper(requires less man hours of labor) to print paper money from scratch, than to melt and remint existing (some Nazi) bars into new EU gold coins.
Handling alone causes cost and (a little loss) in almost any manufacturing.
rh


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