On 15 Jan 2002, at 13:32, Craig Spencer wrote:
> > The Euro has already 15% of its reserve in gold.
> What does that mean?
Well I meant that the ECB at 15% of its foreign reserves in gold.
> > Although the Euro is not convertible to gold, it gives some
> > sort of stability and solidity to the currency.
That can be changed anytime and therefore does not mean very much.
Having a % of the fiat currency backed by gold is not the same as having the
gold
The Dogs biscuits are not the dog, I would rather have the dog.
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