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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (5573)	4/25/1999 10:48:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 81802

RR - the comparison between gold and oil (a consumable)doesn't wash. For CBs gold is a reserve asset and oil is not. dd Why I certainly understand gold's value to CBs, I don't believe the US dollar is backed by gold. Now the Euro has a reserve requirement of 15% backing by gold, but they are among the minority and it has not assisted in retaining the Euro's value relative to the dollar. Gold is a competitor to the global reserve fiat currency backed by "full faith and credit" of the nation issuing it. Control of that competitive commodity probably takes precedence over accumulating it as a reserve for their issued currency. Regards, Ron