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TheStreet: Central Bank Selling Won't Slow Gold

LONDON, 23 February 2012 - An interview with Adrian Ash, head of research at BullionVault, features today on, one of the world's 10 most popular financial news-site.

Commenting on the latest "solution" to Greece's funding crisis, "If you have a write-down of private bondholders in Greek debt, how do you draw a line to say it won't happen to bondholders in other Eurozone debt?" asks Adrian.

"That [problem] hasn't changed in two years."

Asked if weaker Eurozone states might sell gold to try to plug their budghet deficits, Adrian names two problems. "One, the gold wouldn't help them much. They're very overweight gold compared particularly to Asia, but it would be a drop in the bucket compared to what they need to find.

"Secondly, and a bigger problem, is that legally they can't do this. [Eurozone states] cannot use central-bank assets to raise cash to pay sovereign government debt."

You can hear the full interview at TheStreet here...

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