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Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL -- Ignore unavailable to you. Want to Upgrade?

To: jocko who wrote (2361)	12/29/1998 6:03:00 PM
From: Gary S.	Read Replies (1) \| Respond to of 2635

This Is very good news..a little hint as to where the future of gold is going? I think so :) Date: Tue Dec 29 1998 13:51 (NEW YORK - U.S. TREASURY TO BUY GOLD ON OPEN MARKETS. ) ID#257313: Copyright © 1998 africanminer/Kitco Inc. All rights reserved NEW YORK - U.S. TREASURY TO BUY GOLD ON OPEN MARKETS. Allen Greenspan said Tuesday in response to The EURO “There will have to be a new currency--a new dollar--with something behind it to restore confidence. The one commodity, which has been a reliable, universally accepted basis for monetary confidence for thousands of years is Gold. And so, gold will have to be used in setting up a new system of stable international currencies, including a new dollar.” However, the Federal Reserve System was relieved of any responsibility in 1971 by President Nixon, whom closed the international gold window, discontinuing settlement of international debts in gold, as the U.S. Treasury Department was made physical custodian of all U.S. gold stocks. With the EURO Dollar having a gold backing of 15% the U.S. is going to have to respond. It hasn't been since 1968 when President Johnson signed into law an act removing the final 25% gold backing requirement from the dollar. The need for a strong world currency couldn't be more evident. Talk in Washington D.C. is of a growing need to return to a partial gold backing for the Dollar.