>> "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
I *guess* what they mean is:
one euro is backed by, say "half a percent" reserves.
OF THOSE RESERVES, 15% is gold?
maybe??
Claude is investigating!
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