1:38 EDT - CPM Group's Jeff Christian takes aim at a frequent rumor
that makes the rounds when Europe's debt struggle is in the news:
countries may be compelled to sell their gold to pay down debt. Sure,
if things continue to deteriorate, gold sales or collateral
arrangements could be on the table. But the gold hoard held by the
Greek central bank is worth less than 2% of the country's debt pile,
and a similarly small portion for other countries. If Greece offers up
all its gold as collateral, bankers will reply "and what else?"
Christian says. "You're not going to solve this with gold."
(matt.day@dowjones.com)
Call us at (212) 416-2181 or john.shipman@dowjones.com
(END) Dow Jones Newswires
June 11, 2012 13:38 ET (17:38 GMT)
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