> "When they created the Euro, the Europeans decided to maintain an
> official Gold reserve at 15% of their total reserves to back up their
> currency."
Here's what I find interesting about this: If the price of gold goes up,
then doesn't this mean that the currency issuer can inflate his currency
more, since the value of his gold-reserve rises? Doesn't this subsequent
inflation cause the price of gold to go even higher?
So, even though the currency is backed by gold, it has no real effect,
right?
Craig
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