A golden idea to save (or doom) the euro

Posted by Eric Regully via Peter Grandich

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Gold is back in the news, big time, and not just because the price may be on the verge of another upswing or that Peter Munk is turning Barrick, the world’s biggest gold company, into a CEO meat grinder. It’s because Germany, it appears, wants to make gold the effective currency of the euro zone before the region plunges to the bottom of the seas like a concrete U-boat.

MORE RELATED TO THIS STORY

  • IMF says Spanish banks need at least $50-billion in aid
  • Stumbling economies have central banks girding for more intervention
  • Greek economy continues to crumble

 

The weakest euro zone countries are tapped out financially and economically. But a few of them are brimming with gold reserves. Take Italy…

…..read more HERE

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