Repeat right after us: gold will not be a currency. But, just just in case we are wrong, fairly soon a person could possibly see it accepted as pseudo legal,
Windows 7 Enterprise 32bit, non-federal reserve note equivalent just about almost everywhere. Initial: the ICE, where "Gold bullion will likely be permitted for preliminary margin only and will be accepted by the clearing house by digital transfer in increments of one troy ounce, and can be priced regular implementing the London Gold Repairing Cost in US Dollars." In other words, the ICE will gladly get your gold. Period.From your ICE Obvious EuropeICE Clear Europe Announces Acceptance of Gold Bullion Collateral; Adds Triparty Collateral Management Services to enhance Protection and FlexibilityLondon (eight November 2010) – IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets,
Microsoft Office 2007 Professional Plus, today announced that ICE Clear Europe will accept gold bullion as collateral for all energy and credit default swaps (CDS) transactions beginning 22 November. Acceptable collateral for ICE Distinct Europe currently includes cash and government securities. Gold bullion shall be permitted for preliminary margin only and can be accepted by the clearing residence by digital transfer in increments of one troy ounce, and will be priced day by day making use of the London Gold Repairing Selling price in US Bucks. In addition,
Microsoft Office 2007 Serial, ICE Crystal clear Europe recently introduced a triparty collateral management arrangement with Euroclear Bank, the international central securities depository, through which European government bonds may very well be used as collateral to fulfill initial margin requirements. Both the addition of gold bullion collateral and the availability of collateral via Euroclear Bank are intended to boost the stability and flexibility of the clearing property, particularly during periods of intensive economic stress, while providing alternatives to customers.“We're pleased to offer these enhancements as the initial clearing household in Europe to permit gold bullion as collateral,” said Paul Swann, President of ICE Clear Europe. “By working closely with members, we're continually searching for ways to lead in enhancing risk management practices. Particularly in times of economic change or uncertainty,
Office Pro 2010 Serial, the addition of gold and Euroclear Bank’s triparty collateral management services bring additional flexibility and safety to the markets we serve globally.”Yves Poullet,
Windows 7 Professional Serial, Chief Executive Officer of Euroclear Bank, said: ”As the market continues to move from unsecured to secured transactions, accessing and efficiently managing collateral is becoming increasingly important. Helping clients optimize use of their collateral held with Euroclear Bank is precisely our objective, which is easily achieved when collateralizing margin calls from ICE Distinct Europe. We're delighted to be of service.” ht Abandon Ship