Has anyone been following the Euro currency implementation and the choosing of the new Banking leader (German v. Dutchman)? It is interesting to note that the Swiss are not including themselves and don't plan to use the new Euro. A country so small, which has survived centuries and become the secret banking leade in the world is not going to let this system of theirs fail. Does anyone have details on what they have been doing re Y2k and gold collecting?

-- Laurane Parker (bowral@usa.net), May 01, 1998

Answers

I have recently read somewhere in all of this y2k info explosion, that we should expect the price of gold to go down in the near future because the Swiss are going to sell as much as 10% of their gold.

I don't recall where I read this or why they are doing it. Did anyone else read the article?

-- Bill Solorzano (notaclue@webtv.net), May 04, 1998.

I have recently read somewhere in all of this y2k info explosion, that we should expect the price of gold to go down in the near future because the Swiss are going to sell as much as 10% of their gold.

I don't recall where I read this or why they are doing it. Did anyone else read the article?

-- Bill Solorzano (notaclue@webtv.net), May 04, 1998.

There was a point where some of the Swiss thought about selling some of their gold. However this requires a change in thier constitution, and a referendum which can't take place for at least a year. Its amazing how easily rumors get started. The process that the Swiss would need to go through to reduce just a little bit of their gold backing of their currency(which at the moment is somewherebetween 2- 2.5 total currency) is very long and very drawn out. With the process that it taking place there is little likelihood they could pull it off before the US stock market tanks, the EURO TAKES OVER< OR Y@K GERTS EVERYONE

-- glenna kamoroff (kamoroff@hotmail.com), May 04, 1998.

Glenna:

You seem to know about these things. I just read today that the Euro will be from 20 to 30% backed by gold. As you know, the US dollar is backed by blind faith and habit. The Swiss franc is no doubt backed by gold, yet they are not going to participate in the European Monitary System. What are the Swiss up to?

-- Bill Solorzano (notaclue@webtv.net), May 07, 1998.

They're not up to anything. They have a long history of neutrality from political and economic circumstances of Europe. But they are not out of the loop they are very heavily economically involved with the operations, maintaining their neutrality requires exclusion from the Euro. GK

-- Glenna Kamoroff (kamoroff@hotmail.com), May 07, 1998.