I believe the most important lesson from this research is that in many instances, public policy seems to be out of step with public opinion. People in all five of the countries we surveyed care deeply about the role of gold as a monetary asset. In all five countries, overwhelming majorities say that a strong currency is important to a healthy economy, and their countries' gold reserves are important to the strength of their currencies. Huge majorities want their governments either to maintain or increase the level of gold in their countries' reserves. Gold reserves provide protection against future shocks.
Gold reserves are important in giving a country economic and monetary independence.
Gold reserves connote security, independence, confidence and value. In France, Germany and Italy, respondents believe that the new European Central Bank should hold at least the same proportion of its reserves in gold as their own central banks. In the UK and US, large majorities believe gold should remain the primary asset supporting their currencies, and an important part of the world monetary system. Looking at two issues of immediate concern, the British public opposes by a margin of five to two the government's plan to sell more than half of Britain's gold reserves. And by a margin of more than two to one, the American public opposes the Clinton Administration's support for the proposal that the IMF should sell a portion of its gold reserves.