On 16 Jan 2002, at 0:42, SnowDog wrote:
What I am saying is that if you add gold to these reserves, even if
I don't think so. Let's say that the Euro is backed by 15% of its
value in gold. Then, if you started to inflate the Euro, the price of
gold would go up, and it would still be backed
On 16 Jan 2002, at 0:42, SnowDog wrote:
... Let's say that the Euro is backed by 15% of its value in gold.
Can anyone give me a definition of this? Let me state it this way. Let E
be the total number of euros in circulation. Let G be the number of troy
ounces of gold reserves. Find P, the
On 16 Jan 2002, at 11:52, Patrick Chkoreff wrote:
Let's say that the Euro is backed by 15% of its value in gold.
In fact the Euro is not backed by 15% gold. ECB foreign reserves
are made of 15% gold, if my understanding of this is all right.
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Claude,
I don't really understand the figures you give.
I wonder: just what is the relative magnitude of dollars held as
reserves by governments and the private dollar float?
Central banks have in T-Bills and bonds:
Japan $400B+
China $200B+
Other tigers: $100B+ I think
Europe:
On 15 Jan 2002, at 20:59, Craig Spencer wrote:
These are the USD owns as foreign reserves by some foreign
central banks:
Japan $400B+
China $200B+
Other tigers: $100B+ I think
Europe: ??
I guess, the reserves are not really held as dollars but
as US government dollar denominated
Claude,
Dollars, I mean Federal Notes ... are only $500B worlwide. I think
with a lot of them in the US. So maybe only $50B-$100B is outside of
the US, possibly a lot less.
Actually, it is my impression, to the contrary, that there are
more FRNs in circulation outside the US than inside. I
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
At 9:49 AM -0500 1/14/02, C. Cormier - Ormetal Inc. wrote:
...
On the contrary, I think the Euro is a success. It will now become
the 2nd reserve currency. The Euro and the ECB has the power of
gold behind it.
Hi Claude, it's interesting that you say this (and pardon me for being a
bit
