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To: Investor-ex! who wrote (27318)	1/29/1999 10:35:00 PM
From: PaulM	Respond to of 116764

"remarks by European Central Bank President Wim Duisenberg in Davos, Switzerland, that gold and foreign currency reserves held by the Euro zone countries could eb spent only under ECB guidelines" biz.yahoo.com

To: Investor-ex! who wrote (27318)	1/30/1999 2:17:00 AM
From: Alex	Respond to of 116764

"Some of the chatter even suggests that efforts may be afoot to set up a new Bretton Woods system of fixed exchange rates, which was destroyed in 1971 when President Richard Nixon refused to reimburse foreign-held dollars for gold. But those working on plans for a new global financial architecture should know one thing: Fixed exchange-rate systems will last only if they involve currencies backed by a commodity like gold, whose supply is fixed. Today's currencies, by contrast, are inherently unstable, as they are open to state-managed manipulation. The calls for market coordination have been surprisingly bold, with the highest level of support coming from the Japanese prime minister, Keizo Obuchi, and from the French president, Jacques Chirac. " fnews.yahoo.com