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--- Begin Message ----Caveat Lector------------------------- Yahoo! Groups Sponsor --------------------~--> <FONT COLOR="#000099">Make a clean sweep of pop-up ads. Yahoo! Companion Toolbar. Now with Pop-Up Blocker. Get it for free! </FONT><A HREF="http://us.click.yahoo.com/L5YrjA/eSIIAA/yQLSAA/WfTolB/TM";><B>Click Here!</B></A> --------------------------------------------------------------------~-> By Robin Elsham AFX Press / Agence-France Press Friday, November 12, 2004 http://www.fxstreet.com/nou/noticies/afx/noticia.asp? pv_noticia=1100254316-9e32d306-16911 TOKYO -- Bank of Japan Governor Toshihiko Fukui said it would have a stablizing effect on the global financial system if a clear rival to the U.S. dollar as a key global currency were to emerge Speaking at a symposium in Tokyo on the theme "The Euro: Five Years On -- Implication for Asia," the Japan central bank chief cited data showing the common currency of the 12-nation European currency bloc is emerging as a serious rival to the dollar as a key currency for conducting global trade and investment. "In the past five years (since its launch in 1999), the importance of the euro has increased considerably," Fukui told the seminar, which featured such other speakers as European Central Bank vice-president Lucas Papademos, and Toyoo Gyohten, the highly respected former Japanese vice-minister for international affairs. Fukui said more than 50 countries link their currencies to the euro, while the proportion of foreign exchange reserves held in euros has risen to 20 percent and nearly a third of the cross-border-issued bonds are now denominated in euros. Fukui seemed to welcome the growing prominence of the euro by referring to the dangers associated with allowing any single currency to dominate global commerce. "In such a situation, the economy of the key currency is easily tempted to focus its economic policy on domestic considerations," an apparent thinly veiled rebuke to the economic policies followed by the U.S. adminstration of President George W. Bush. "In today's globalized economy, this could lead to undesirable ripple effects on the rest of the world, through the fluctuations of the external value of the key currency," Fukui said. He said if there were two competing key global currencies, "competition between them could lead to more attention to the external value of key currencies. This could have a positive effect on the stability of the global financial system." The BoJ chief briefly indicated that the Japanese yen also had a role to play in that regard "I believe that the yen can and should play a larger role in the global market," Fukui said, citing trends that could make that a certainty. "Considering the deepening economic relations between Japan and the rest of Asia, Asia should benefit if the use of the yen could be facilitated," Fukui told his high-powered audience. In 2003, nearly half of Japan's foreign trade was with Asia, up a third over the past decade. Fukui said the yen could play a larger role in both fund management and fund-raising, especially in light of Asia's strong demand for capital and Japan's vast pool of savings. But the Japanese central bank chief dismissed the notion that an Asian equivalent to the euro -- an Asian common currency -- would emerge within the lifetime of any of his gray-haired listeners. "Could we see a common currency area in Asia? For the near future, you would agree that this is quite unlikely," Fukui said He subsequently indicated it could be 50 years before Asia has a common currency -- the time it took a handful of Europe's nations to embrace the concept. Great changes would need to occur, such as the development of vibrant regional financial markets, made possible by liberalized cross-border capital flows. Fukui said there is encouraging evidence that that is already happening, beyond merely the tremendous increase in inter-Asian trade. He cited in particular the example of the Asian Bond Fund II project, promoted by the 11 central banks of the EMEAP economies. EMEAP stands for the Executives' Meeting of East Asia-Pacific Central Banks, an organization founded in 1991 by the central banks of Australia, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore. and Thailand. ---------------------------------------------------- To subscribe to GATA's dispatches, send an e-mail to: [EMAIL PROTECTED] To unsubscribe, send an e-mail to: [EMAIL PROTECTED] ---------------------------------------------------- RECOMMENDED INTERNET SITES FOR DAILY MONITORING OF GOLD AND PRECIOUS METALS NEWS AND ANALYSIS Free sites: http://www.jsmineset.com http://www.cbs.marketwatch.com http://www.mineweb.com/ http://www.gold-eagle.com/ http://www.kitco.com/ http://www.usagold.com/ http://www.GoldSeek.com/ http://www.GoldReview.com/ http://www.capitalupdates.com/ http://www.DailyReckoning.com http://www.goldenbar.com/ http://www.silver-investor.com http://www.thebulliondesk.com/ http://www.sharelynx.com/ http://www.mininglife.com/ http://www.financialsense.com http://www.goldensextant.com http://www.goldismoney.info/index.html http://www.howestreet.com http://www.depression2.tv http://www.moneyfiles.org/ http://www.howestreet.com http://www.minersmanual.com/minernews.html http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html http://www.goldcolony.com http://www.miningstocks.com http://www.mineralstox.com http://www.freemarketnews.com http://www.321gold.com http://www.SilverSeek.com http://www.investmentrarities.com http://www.kuik.com/KH/KH.html (Korelin Business Report -- audio) http://www.plata.com.mx/plata/home.htm (In Spanish) http://www.plata.com.mx/plata/plata/english.htm (In English) http://www.resourceinvestor.com/ Subscription sites: http://www.lemetropolecafe.com/ http://www.goldinsider.com/ http://www.hsletter.com http://www.investmentindicators.com/ http://www.interventionalanalysis.com Eagle Ranch discussion site: http://os2eagle.net/checksum.htm Ted Butler silver commentary archive: http://www.investmentrarities.com/ ---------------------------------------------------- COIN AND PRECIOUS METALS DEALERS WHO HAVE SUPPORTED GATA AND BEEN RECOMMENDED BY OUR MEMBERS Blanchard & Co. Inc. 909 Poydras St., Suite 1900 New Orleans, Louisiana 70112 888-413-4653 http://www.blanchardonline.com Centennial Precious Metals 3033 East 1st Ave., Suite 403 Denver, Colorado 80206 www.USAGold.com Michael Kosares, Proprietor US (800) 869-5115 Canada 1-800-294-9462 European Union 00-800-2760-2760 Australia 0011-800-2760-2760 [EMAIL PROTECTED] Colorado Gold 222 South 5th St. Montrose, Colorado 81401 www.ColoradoGold.com Don Stott, Proprietor 1-888-786-8822 [EMAIL PROTECTED] El Dorado Discount Gold Box 11296 Glendale, Arizona 85316 http://www.eldoradogold.net Harvey Gordin, President Office: 623-434-3322 Mobile: 602-228-8203 [EMAIL PROTECTED] Investment Rarities Inc. 7850 Metro Parkway Minneapolis, Minnesota 55425 http://www.gloomdoom.com Greg Westgaard, Sales Manager 1-800-328-1860, Ext. 8889 [EMAIL PROTECTED] Kitco 178 West Service Road Champlain, N.Y. 12919 Toll Free:1-877-775-4826 Fax: 518-298-3457 and 620 Cathcart, Suite 900 Montreal, Quebec H3B 1M1 Canada Toll-free:1-800-363-7053 Fax: 514-875-6484 http://www.kitco.com Lee Certified Coins P.O. Box 1045 454 Daniel Webster Highway Merrimack, New Hampshire 03054 www.certifiedcoins.com Ed Lee, Proprietor 1-800-835-6000 [EMAIL PROTECTED] Miles Franklin Ltd. 3015 Ottawa Ave. South St. Louis Park, Minn. 55416 1-800-822-8080 / 952-929-1129 fax: 952-925-0143 http://www.milesfranklin.com Contacts: David Schectman, Andy Schectman, and Bob Sichel Missouri Coin Co. 11742 Manchester Road St. Louis, MO 63131-4614 [EMAIL PROTECTED] 314-965-9797 1-800-280-9797 http://www.mocoin.com Resource Consultants Inc. 6139 South Rural Road Suite 103 Tempe, Arizona 85283-2929 Pat Gorman, Proprietor 1-800-494-4149, 480-820-5877 [EMAIL PROTECTED] Swiss America Trading Corp. 15018 North Tatum Blvd. Phoenix, Arizona 85032 http://www.swissamerica.com Dr. Fred I. Goldstein, Senior Broker 1-800-BUY-COIN [EMAIL PROTECTED] ---------------------------------------------------- HOW TO HELP GATA If you benefit from GATA's dispatches, please consider making a financial contribution to GATA. We welcome contributions as follows. By check: Gold Anti-Trust Action Committee Inc. c/o Chris Powell, Secretary/Treasurer 7 Villa Louisa Road Manchester, CT 06043-7541 USA By credit card (MasterCard, Visa, and Discover) over the Internet: http://www.gata.org/creditcard.html By GoldMoney: http://www.GoldMoney.com Gold Anti-Trust Action Committee Inc. Holding number 50-08-58-L Donors of $750 or more will, upon request, be sent a print of Alain Despert's colorful painting symbolizing our cause, titled "GATA." GATA is a civil rights and educational organization under the U.S. Internal Revenue Code and contributions to it are tax-deductible in the United States. -END- Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/gata/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! 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Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://www.mail-archive.com/ctrl@listserv.aol.com/ <A HREF="http://www.mail-archive.com/ctrl@listserv.aol.com/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
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