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Russia’s second largest bank - Issuing Gold Bonds - More Paper gold!!! new instrument every damn day

 
Anonymous Coward
User ID: 3297006
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11/18/2012 12:17 PM
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Russia’s second largest bank - Issuing Gold Bonds - More Paper gold!!! new instrument every damn day
Investment arm of Russia’s second largest bank – VTB Capital – will start issuing bonds tied to gold price. The new instrument enters Russia just when global downturn makes gold increasingly attractive.

­The new so–called ‘gold bonds’ provide for 3 fixed coupons – 0.1% each – with the yield to maturity depending on the gold price dynamics, Vedomosti daily reports. The Gold price on November 26 – the day when the placement is set to kick off – will be taken as the base to calculate gold growth. Overall, the new bonds can create up to annualized 21.3% yield for investors.

[link to rt.com]
Anonymous Coward
User ID: 25825617
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11/18/2012 12:22 PM
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Re: Russia’s second largest bank - Issuing Gold Bonds - More Paper gold!!! new instrument every damn day
They're a little late. America created these gold certificates 100 years ago - it's called the dollar bill.

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