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| -Signs, Portents, and the Weather- |
| Uh Oh.... Gold coins to bear the UN logo |
| 2009-12-24 |
| The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council. Wednesday, 16th December 2009 (1764 views) The United Nations (UN) has licensed the minting of gold bullion coins bearing its logo to provide a "public option" world savings currency. According to the Vancouver Examiner, Oro gold coins are hoped to contribute to making the UN better funded by 2015, with revenue rising by ten to 15 per cent. The coins are set to be produced in Europe and then distributed globally, with any licensee able to produce such bullion under contract. Armand Dufour of the European Bank says that he welcomes the introduction of the gold coins. However, he goes on to add that there is a danger that if the US dollar weakens, there will be a strong move towards the Oro. In turn this could potentially drive the value of the coin up to a level where international governments will not allow it to be circulated. UN coins were previously made purely for commemoration in the 1970s, but they hold no monetary value. Can one or more of our R-burgers verify / debunk this one? I strongly encourage a critical view regarding this one.... Only found one source for this story, from the "World Gold Council", on their own website. Founded in 1987, the World Gold Council is an organisation formed and funded by the world's leading gold mining companies with the aim of stimulating and maximising the demand for, and holding of Gold. In other words, "Big Gold". |
| Posted by:Uncle Phester |
| #3 Gold coins aren't really currency. They are gold bullion. For some reason people will pay a small premium for gold in coin form rather than in bar form. Although in Asia I recall bars are preferred. |
| Posted by: phil_b 2009-12-24 21:40 |
| #2 The only Armand Dufour I could find, outside of versions of this story, is a fictional character in the 1999 novel, The Phantom of Manhattan, which is a sequel to the Andrew LLoyd Webber musical The Phantom of the Opera, not the book. |
| Posted by: Anonymoose 2009-12-24 19:49 |
| #1 Acid Leach gold mining = much more gold production than in the past. Watch out. Price = Demand/Supply. |
| Posted by: Bright Pebbles 2009-12-24 19:49 |