QE3 next month and the ECB buying up bonds in the euro zone, analysts at ING in Amsterdam have been asking if it is possible for a central bank to go bust.
“With governments increasingly unable or unwilling to further stimulate the economy, eyes are turning to the central banks once again,” said Teunis Brosens, a senior economist at ING in notes sent to CNBC before an interview on […]
Gold is trading at $1,504.13/oz, €1,039.34/oz and £933.89/oz.
Gold is higher today and showing particular strength against the euro and the Japanese yen. The relief rally seen in equities since the latest Greek ‘bailout’ is under pressure as S&P have said the debt rollover proposal would be a “selective default”. The ECB may selectively reject the S&P Greek downgrade and arbitrarily select the best credit rating being offered.