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ARCHIVED DISCUSSION FROM 12/31/1998
All times are U.S. Mountain Time
Goldfly
(12/31/98; 22:22:12MDT - Msg ID:1576)
Well, the Euro's for real now guys......
We watch this gold market together, yes?
USAGOLD
(12/31/98; 18:42:19MDT - Msg ID:1575)
Ominous Rumblings in the Distance........
Happy New Year Fellow Goldmeisters!
From today's final Bridge Report on currencies (with permission):
ECU/dollar was fixed at 1.16675. Although this rate is likely to change before the end of the day, it was taken as an indication of where euro/dollar would start trading on Monday, and was some way below market expectations of a few weeks ago.
Dollar/mark sank on speculative trading, along with dollar/Swiss. "This aggressive selling is coming from a variety of players, and their commitment, so close to the end of the year, is remarkable," said a senior corporate trader. The pair finally found a floor around 1.6650, but the rebound to 1.6680 had no legs.
Goldfly
(12/31/98; 17:22:07MDT - Msg ID:1574)
Sleuthing
sluething? slyoothing? slutheng? slew thing?
Sleuthing.
The web is a minefield for reforming perfectionists.
I hate typos.
-GF
Goldfly
(12/31/98; 17:09:17MDT - Msg ID:1573)
mcphx- Take me out to Dinar
A bit of web sluething brought us this-
A bit academic, but "Go Gold"
http://www.zpub.com/aaa/dinar.txt
This isn't really it, but I thought it was interesting:
http://www.arabicnews.com/ansub/Daily/Day/971114/1997111409.html
I like the reference to 10 dinars equaling a good suit of clothes:
http://www.minaret.org/Monetary.htm
HERE is what you're after:
http://users.netmatters.co.uk//murabitun/intro.html
-GF
PH in LA
(12/31/98; 15:27:14MDT - Msg ID:1572)
New clothes update: Is the Dollar's slip showing?
Aragorn III:
At Yahoo Currency Conversion
(http://quote.yahoo.com/m5?a=1&s=ECU&t=USD)
the Euro is reported @:
Thu Dec 31 5:17pm: European Currency Unit/US Dollar/12:59PM/1.172100
Is this already the first sign of slippage in the dollar? Or merely a discrepency in reporting?
mcphx
(12/31/98; 15:23:39MDT - Msg ID:1571)
ISLAMIC GOLD
Where can I find some information on the subject of Islamic countries/Governments interest or plans for gold or gold backed currency. I saw something making reference on a previous posting however I was not a participant (with a password) until now.
mcphx
PH in LA
(12/31/98; 13:51:27MDT - Msg ID:1570)
The Dollar's Day of Reckoning
Another point of view. Seems like everyone in the western world will be watching for the new clothes.
http://www.TheNation.com/issue/990111/0111THUR.HTM
The Dollar's Day of Reckoning
by LESTER C. THUROW
(Lester C. Thurow, professor of management and economics at MIT, is the former dean of the Sloan School of Management.)
On January 1, 1999, the euro comes into existence. And for the first time since World War II--with far-reaching consequences for American monetary and fiscal policy--countries looking for somewhere to turn with their currency reserves will have a choice beyond the US dollar.
Until now, the dollar's role as the world's reserve currency has provided the United States with a special advantage--the ability to run a large trade deficit year after year. It is an axiom of international economics that no country can run such deficits forever. In year one the foreign funds necessary to pay for the first year's trade deficit must be borrowed. In year two funds to pay for the second year's trade deficits must be borrowed, and additional funds have to be borrowed to pay the interest on the loans that financed the previous year's trade deficit. In year three, funds are being borrowed to pay interest on interest--and so on. This is called compound interest, and compound interest always wins. Eventually the amounts that must be borrowed get so big that the rest of the world either will not, or cannot, finance them.
Aragorn III
(12/31/98; 12:54:20MDT - Msg ID:1569)
Posted here for ease of future reference...the euro
What It's Worth
Today's decision locked the euro at 1.95583 deutsche marks,
6.55957 French francs, 1,936.27 Italian lire, 40.3399 Belgian
and Luxembourg francs, 2.20371 Dutch guilders 5.94573 Finnish
markkaa, 13.7603 Austrian schillings, 200.482 Portuguese
escudos, 166.386 Spanish pesetas and 0.787564 Irish punts.
The EU also announced the initial exchange rates between
the euro and currencies on the outside. Those were set with the
European currency unit -- which will convert to the euro --equal
to 0.705455 British pound, 7.44878 Danish kroner, 329.689 Greek
drachmas and 9.48803 Swedish kronor. It also fixed the full
dollar rate at 1.16675 dollars.
Of these floating currencies, which one will show first signs being waterlogged? Such a small number, 1.16675. It will not be seen for long you will discover. The dollar will become as the emperor's new clothes in the eyes of a child.
bmacd
(12/31/98; 12:20:52MDT - Msg ID:1568)
SCP-Oil in Euros
Oil priced in Euros as well as USD, I believe means that oil and all commodity prices will be less subject to US manipulation. The players have now changed, lets hope the game rules do too.
Happy New Years to all by the way, all the best for 1999.
SteveH
(12/31/98; 11:03:56MDT - Msg ID:1567)
SCP, re: your question
That is the point, the whole point, and nothing but the point AND the trillion dollar question.
scp
(12/31/98; 10:33:02MDT - Msg ID:1566)
Oil priced in Euros
Does anybody feel that oil will be priced in dollars and euros? That would be interesting, correct?
Gandalf the White
(12/31/98; 09:56:35MDT - Msg ID:1565)
Steve's Euro Rate
Steve, I believe that the rate means that the Euro is now worth about 1.17 US$.
good start imho.
<;-)
bmacd
(12/31/98; 09:39:28MDT - Msg ID:1564)
oops
Oops, silver was$.015
bmacd
(12/31/98; 08:58:10MDT - Msg ID:1563)
(No Subject)
Hey, now gold's up $1.00 (silver up .15). I ought to stay home more often!!
bmacd
(12/31/98; 08:55:22MDT - Msg ID:1562)
Gold up
Now gold has turned up a bit-up $.50. The DOW has turned south.
SteveH
(12/31/98; 07:14:36MDT - Msg ID:1561)
Feb gold live in NY at $288.30
Forgot to mention.
One month lease rate about $1.00 lower than one-year lease rate. Seems gold goes down when it is under one-year rate too. Hmmm?
SteveH
(12/31/98; 07:12:39MDT - Msg ID:1560)
Feb gold live in NY at $288.30
Shot down .40 at open in NY and is now deciding on direction.
Heard that Euro rate set at 1.1685/90 (whatever that means).
Yen down around 111-113.
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Centennial Precious Metals Gold coins & bullion since 1973 Denver, Colorado 80246-0009 We educate first-time investors! |
for quotes and purchase information.
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