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

To: m.philli who wrote (6119)	5/29/1999 1:24:00 PM
From: m.philli	Respond to of 80987

It appears the idea of an Asian currency bloc is still alive. It seems like the thinking is to have it based on the yen. I wonder if it might be possible to use the Singapore Dollar as the official trade currency for Asia. Singapores interest and talents lie as a financial centre. They are as stable as any country in the bloc. Anyone who's ever been in the airport can see it's the hub of the whole region. They have been focusing on computer technology in all their education programs. I would think they are as advanced in their yk2 readiness as any country in the region. There could be a lot of advantages in making use of Singapore and their currency for this purpose. It may be Japan (yen) will not be acceptable to all parties. If the various Asian nations had managed to accumulate 8-10,000 tonnes of the gold that has been flooding the market at low prices, could they not then go with Singapore, converting their gold holdings into Singapore dollars. With the knowledge that this gold would not be returning to market and with not enough physical gold (not already sold by producers )available to cover short positions, gold values would soar. The Singapore dollar would soar along with it, allowing the printing of enough "SING"s to begin its use as the regional currency. As far as the Central Banks go, as to the worry the borrowers cannot repay, what do they care, Banks never want there loans paid off anyway, they just want ever increasing interest rates. The banks except say a 4-5% interest on there gold loans (there happy), producers that haven't covered in time may suffer, but they have the knowledge that once they get past there forward sales, they'll be making a large profit. Long term investors will take care of their share price, plus new production will be brought on line and sold to all those poor buggers paying high interest rates on their gold borrowings from the banks. By the time this has been returned Asia should be humming with consumer demand ready to eat up supply. (their happy enough). Asia has a currency for trade that is controlled by them, backed by gold. Asian American dollar holdings can be exchanged for Sing investments. America may hurt for a while, but it is inevitable, they cannot carry on as consumer of the world forever. They need, the world needs the Asian consumer, with money in his ass pocket. World wide investors know their investment is safe from currency problems and only have to focus on their personal investment viability. Capital comes in, public wealth increases, demand for goods increases, U.S. trade deficit comes down, they have what they want an external market. Can anyone see any possibilities in Singapore Dollars becoming the bloc currency of Asia? Can anyone see any possibility of a gold scenario occurring somewhat like this?

To: m.philli who wrote (6119)	5/29/1999 8:14:00 PM
From: Bill Murphy	Read Replies (3) \| Respond to of 80987

Mike, I wish I had the time to respond completely. Am preparing a presentation for the show in ny and that is taking all my effort. As far as I know they are still on the Board. Regarding the Asian question. Actually, there was a meeting in Macao just recently attended by Japan, Taiwan and China. They are patching up their differences and a new currency is indeed in the works. Will have a gold backing. They are fed up with US arrogance. Bill