Sixth: what should be the tax regime, since in many countries the tax regime for gold is somewhat special. Seventh: how soon could the physical facilities, like quality assaying, marking, designs etc. of international standards be established? What will be the role of foreign investment and technology in this BIS Review 76/1997  -8-  area?
Second, I will discuss the general characteristics of openness in the context of the given goals and organization of central banks. Third, I will address various specific suggestions in a U.S. context for further increasing the transparency of monetary policy. Reasons for encouraging transparency Transparency is valuable and desirable for both political and economic reasons.