Dos
de los comentarios en este reciente artículo de Zero Hedge “Gold
At $64,000 – Bloomberg’s ‘China Gold Price’” (por cierto, con titular
estilo FOFOA, pues FOFOA estima 55.000$/onza) nos recuerdan y explican, de
nuevo, cómo el oro físico está ya presente en el sistema monetario de la mano
del BCE (entre otros bancos centrales) desde la introducción del euro en 1999:
The word game being played here involves
the word 'backed'.
In the gold standard countries promised
gold for paper. They 'needed' a certain amount in case there was a panic into
gold...but gold and paper were claimed to be equal.
The ECB has a different approach. They
simply hold gold (10,800 tons of it!!) on their balance sheet. In this way the
world can decide how much the Euro is worth by deciding how much gold they will
pay for a Euro. This is a more elegant way to have gold in the monetary system
and yet not limit the currency with the need for a semi-rare metal.
It also allows the Euro's balance sheet to
expand if the dollar dies. At that point gold would have a high dollar price
and the ECB balance sheet would rise enormously in dollar terms. Their
treasuries might be worthless but their gold would still 'back' the Euro.
The ECB does audit their gold. Lasvegas is
right.
The ECB floats gold on the asset side of
its balance sheet at marked to market prices.
Recordemos
los anteriores posts:
