Thursday, October 25, 2012

Shocking the world...

...the "World Gold Counsel" recommends using gold.

Awhite paper released earlier this month by the World Gold Council (WGC) proposes that eurozone member States with significant gold holdings relative to their medium-term financing requirements – particularly Italy and Portugal – should consider gold as collateral for sovereign-debt issuance to reduce bond yields.
The paper, compiled by finan- cial consultancy Europe Econo- mics MD Dr Andrew Lilico, was commissioned by the WGC to challenge and assess the merits of its proposals relative to other suggested monetary policy tools, such as the European Central Bank’s (ECB’s) recently proposed Outright Monetary Transaction (OMT) programme.

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