Source: The Downey Eagle, May 12, 2000, Page 5 http://www.downeyeagle.com/ The publisher's corner Is there really a 'euro dollar'? by Jerry Andrews, Many of you know that in an effort to unify the European continent, eventually becoming a United Countries of Europe, the first step was to have a single currency. Such a plan was advanced and adopted, to be based on the "euro dollar." The policy was implemented and the change-over was January 4, 1999. Most of the currencies of the world are referenced against the U.S. dollar. In the case of the euro, it debuted at $1.17 and has now declined to 89 cents. http://futures.tradingcharts.com/chart/ED/W This is a 24 percent decline to purchasing power for the member nations. No one knows quite why the euro has fallen so, but they are not happy about their money (purchasing power) being devalued 24 percent. As to be expected, not all European nations joined; England specifically stayed out. So the English pound has increased in value against the euro if only by default, and thus British and American travelers are bargain shopping in Europe. To start with there are no euro bills or coins in circulation, even though all the banking in the subject countries is in euros. For instance, their bank statements, telephone bills and electric bills are all in euros, but they pay in the existing currency of their country (marks, francs, lire, etc.) at whatever the exchange rate is for that country against the euro. So the question is why hasn't euro currency - bills and coins - been introduced into circulation to replace the individual currencies? For two years now the introduction has ben repeatedly postponed, which doesn't add confidence to the project. Therefore. this past weekend, it was with more than passing interest that while dining out, I overheard a conversation at the next table about the weak euro and other problems. The story I heard was that the German government was to be responsible for making the currency engravings and coin dies. They did this. They got the best engravers available, made the plates and printed a small press run so that each bank could have one sample bill and a front/back photograph of each denomination to used for reference in spotting counterfeits. This was all done with the expected high German efficiency, quality workmanship and proper security. Transportation was by train with armed guards. As expected, everything was done to perfection. The final part of the German assignment was to deliver the plates to France. They were delivered to the French government representatives, all duly accepted and signed for. The the German couriers and security went back home. The problem appears to be that after the French government took possession, the plates are now missing, gone, as in stolen, which is, in fact, why the bills are not in circulation and time is running out since replacement was supposed to be completed by this summer. There is no money yet; it is all on ledger sheets. And with the plates missing, you can't just make new ones. Obviously the design needs to be changed. But to do that it must be acknowledged the plates are missing. Not likely. They still need bills of a different design so the native currency can be replaced. To keep this in perspective, I have no idea if the missing plates story is true. But I was surprised to read in Monday's 'Orange County Register' http://www.ocregister.com/ that the euro was taking another hit and that, in fact, there are no euro bills of coins in circulation. I remember when all this came to pass and the nationalist battles that took place. Some of the one-worlders here even wanted the U.S. to turn in our money too, as well as make our Supreme Court subject to the World Court. Hopefully neither idea will come up again before the next century. -- Could this be a contributing factor to the highly touted expected burst in the 'bubble'? Bard BUCHANAN-Reform http://gopatgo2000.com/default.htm We are a Nation of the Rule of Law; however, I, for one, will not be Ruled by the Lawless. To All Elected Officials: "Stop stealing my earnings that you use to give to those whom you know will vote for you." There's not a dime bit of difference between a DemoRat and a RepubRat, they're simply two wings of the same bird of prey which pecks at your earnings while insidiously devouring your Freedom. <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! 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