The Other McCain

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Shock And XAU

Posted on | September 26, 2011 | 2 Comments

by Smitty (via Galt’s Girl)

It isn’t clear whether this will be more than a promotional stunt:

However, the Swiss Stock Exchange has not been deterred from new involvement with the yellow metal. Together with Scoach Switzerland, the stock exchange for structured products, the management has the plan to introduce the listing and trading of products in so-called XAU gold units – which have an exact value of one troy ounce of gold – in October. Gold will act just like a currency: paying the profits of investors from speculative transactions. The same applies if an investor had to pay the bill on losses from transactions in Swiss financial markets – in this case the difference could be offset in the form of gold. Investors who want to make use of the new gold currency must open an account with Swiss financial services provider Six Securities Services. All transactions made through this account will subsequently be calculated in the XAU gold units that work in the same way as any other paper currencies such as the US dollar or the euro.

If nothing else, this development may help that slow-learning head of the Federal Reserve figure out if gold is money.

Interesting times. We may need to End the Fed before the Fed ends us.

Category: End The Fed

Comments

2 Responses to “Shock And XAU”

  1. Adrienne
    September 26th, 2011 @ 6:12 pm

    Thanks for the link, Smitty…

  2. Anonymous
    September 26th, 2011 @ 9:05 pm

    Are you baiting Adjoran?