Experts advocate replacing OMTs with gold-backed bonds


Experts attending a World Gold Council (WGC) briefing today (December 13) proposed using gold-backed bonds – sovereign bonds partially secured with gold – as an alternative to the European Central Bank's outright monetary transactions (OMTs) or its securities market programme.

Natalie Dempster, the WGC director of government affairs, said providing gold equivalent to 25% of the debt as collateral would probably instil confidence among purchasers in a country's ability to pay. As a result, gold

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