On 14 Jan 2002, at 10:12, James M. Ray wrote: > Hi Claude, it's interesting that you say this (and pardon me for being > a bit Euro-ignorant). Can you expand on why, and how much power of > gold is behind the Euro? Thanks. JMR
For a start, the introduction of the Euro has been going well. It is a fait accompli. So the Euro is now ready to contend with the US for the title as a world reserve currency. I think both will share this title in the years ahead. The Euro has already 15% of its reserve in gold. Although the Euro is not convertible to gold, it gives some sort of stability and solidity to the currency. Europeans nations have much more gold that could get into these reserves is needed. There are countries in Europe that are strong hard money advocates (like France). The issue here is what arguments the ECB can use when it comes to the table with the USA to decide on the equilibrium of the USD and the Euro as world reserves currencies. Gold is one argument. If you want to know more on this subject, I suggest you get the recent issue of the-Privateer.com. Claude Cormier Ormetal Inc. http://www.goldcurrencies.ca http://www.ormetal.com ============================================= Claude Cormier Public Key http://www.ormetal.com/keys/ClaudeCormier.asc ============================================= --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
