Gold-Backed Sovereign Bonds

Gold will always be the asset of last resort. Soon the banking crisis in the EU will be solved with gold.

“In a generalized crisis that leads to the repudiation of foreign debts or even the international isolation of a country […] gold remains the ultimate and global means of payment that is still accepted and it is one of the reasons used by some central banks to justify gold holdings.”

Paul Mercier (2009) Deputy Director of Market Operations, European Central Bank.

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