The gold is already covering liabilities in the books of the central banks which form the euro system. It cannot back the euro currency and the pigs sovereign debt at the same time. In theory it could be swapped for sovereign debt, but for sure that Trichet would veto such a move as that would be a terrible blow to public confidence in the system and finance is all about trust.
gold just hit 1903 oz, page-27
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Last
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $45.84M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9159 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 10000 | 1 |
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