MONDAY NOVEMBER 20 2000 Waigel in call for gold euro BY GRAHAM SEARJEANT FINANCIAL EDITOR THEO WAIGEL, former German Finance Minister, has called for gold euro coins to be issued to encourage confidence in the currency. The EU has no plans for gold coins. Herr Waigel, who was one of the chief architects of European monetary union as a member of Helmut Kohl’s Government, said that the rapid fall in the euro’s value “has considerable psychological effects on the confidence of the people who will be required to swap their national currency in a few months’ time”.

He called for golden euros to be minted as legal tender in 2002, when euro coins appear. However, he said they would probably not circulate because collectors would keep them.

Robert Mundell, the 1999 winner of the Nobel Prize for Economics, proposed that gold coins be minted in 100 denominations. Speaking at a Rome conference organised by the World Gold Council, Professor Mundell argued that gold coins had a role in supporting public sentiment towards the euro once ordinary people were obliged to use it.

http://www.thetimes.co.uk/article/0,,38753,00.html

-- Martin Thompson (mthom1927@aol.com), November 19, 2000

Answers

Here it comes my friends. Currency around the world is in a fragile, debt ridden condition. I don't know if gold coins will be minted but the serious call for this as a solution sounds ominous to me. There is no currency that is now backed by hard assets as far as I know and that is just a disaster waiting to happen.

-- poconojo (jberman478@aol.com), November 20, 2000.

Ah, but I believe that this is part of the plan. The Globalists are looking to create a three-way reserve system in the world. In order to do that, they must give the US dollar a good whack and give the Euro an unexpected and unprecedented boost. The third currency, which may be the Yen, or some other yet to be designated Asian currency will eventually take it's place beside the other two.

It's no coincidence that the Euro is the only currency connected to gold reserves. And, there certainly have been rumors that those reserves, which currently stand at 15%, may be increased to 30 or 40%. If that were to be done AND a nifty little gold coin could be minted (more for PR purposes than for anything else) ...the Euro might just get a big enough boost to cause dollar selling on a wide scale basis.

Another sign of things to come, presented itself in the fact that the UN granted Iraq permission to exchange it's US dollar reserves for Euro reserves, using the Euro for future oil transactions. Venezeula it has been reported, is in line to do the same. Who is next?

-- meg davis (meg9999@aol.com), November 20, 2000.