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Switzerland To Freeze Assets Of Deposed Tunisian, Ivory Coast Presidents

Tyler Durden's picture





 

For those who were wondering why deposed Tunisian president Ben Ali recently pulled a ton (literally) of gold from the country's central bank, here is your answer: Reuters reports that Switzerland has just frozen all of his (paper) assets. Unfortunately, they have little access to his holdings of actual physical assets, such as the case may be, gold. And as we speculated when we discussed the curious case of deposed Ivory Coast's president Laurent Gbagbo (who in a clever scheme is using bondholders as leverage to legitimize his regime), that the world's largest cocoa exporter would be next to part with a substantial portion of its gold (which it does not technically have), this appears to be shaping up to be the case: Switzerland has also frozen assets of Ivory Coast president Laurent Gbagbo. Which also means that all those bondhodlers which were used as leverage by Gbagbo to legitimize his regime may be now irrelevant. Look for some interesting action in Cote D'Ivoire bond prices as a result of this development, demonstrating the curiously interconnected nature of globalized markets .

 


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Wed, 01/19/2011 - 08:58 | Link to Comment Mercury
Mercury's picture

I bet France will send their special forces into the IC if need be to assure that at least French bondholders are made whole - without (Eeeek!) first asking permission of the UN.

Wed, 01/19/2011 - 09:06 | Link to Comment Sudden Debt
Sudden Debt's picture

Here you can follow up on the international discussions:

http://www.strategypage.com/gallery/images/wwII-facebook.jpg

Wed, 01/19/2011 - 10:18 | Link to Comment 66Sexy
66Sexy's picture

just another reason to run the big banks

Wed, 01/19/2011 - 12:09 | Link to Comment spekulatn
spekulatn's picture

NO BLOOD FOR BONDHOLDERS!

Wed, 01/19/2011 - 12:15 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Peace...through superior firepower.

Wed, 01/19/2011 - 08:55 | Link to Comment TradingJoe
TradingJoe's picture

Yep! It shapes to be a "no place to hide" (Global) World!

Wed, 01/19/2011 - 09:19 | Link to Comment Ratscam
Ratscam's picture

Reuters reports that Switzerland has just frozen all of his (paper) assets. Unfortunately, they have little access to his holdings of actual physical assets, such as the case may be, gold.

If even the Swiss freeze assets, what do you think the US and the Europeans will do to your paper holdings in the future?

Wed, 01/19/2011 - 09:00 | Link to Comment Sudden Debt
Sudden Debt's picture

Yes, they will keep it in safe keeping next to the vault where the keep the gold of Jews who didn't checked in since 1944.

And just like the Jews, all you need to get you gold or money back is if you know the 500 digit security code, the secret handshake and about 20 liters of your blood which they will use to do some DNA checks.

 

 

Wed, 01/19/2011 - 09:08 | Link to Comment cossack55
cossack55's picture

Wake me up when they seize the other criminals funds, i.e., Blankfiend, Diamond "Jamie" Dimon, Fuld, Bush, Obama, Dodd, Frank, Cheney, Clinton, ad infinitum.

Wed, 01/19/2011 - 09:55 | Link to Comment Miss Expectations
Miss Expectations's picture

Wouldn't it be great if Ricky Gervais could do a 30 minute monologue featuring the likes of the above mentioned criminals?  A Golden Globes of sorts...

Wed, 01/19/2011 - 09:02 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

Barry O when you run for sanctuary better make it a Muslim nation..The Swiss like your assets in lock up.

PS I post this knowing many will flame me..

but it is in the news today that a NY judge has agreed Barry H is NOT A NATURAL BORN CITIZEN..per our constitution..I am sure this will make headlines across the MSM.. see

Strunk vs Patersonhttp://beforeitsnews.com/story/363/827/Strunk_v_Paterson_Obama_:_First_t...

Wed, 01/19/2011 - 10:43 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

This headline will not make the MSM or any other source that is not made up.

Wed, 01/19/2011 - 09:00 | Link to Comment 10044
10044's picture

Could I have his gold please?

Wed, 01/19/2011 - 09:05 | Link to Comment DaBernank
DaBernank's picture

I will offer to buy some of it with USD or EUR at a 10% discount from spot.

Wed, 01/19/2011 - 09:02 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Is the 'G' silent in Gbagbo?

Wed, 01/19/2011 - 09:59 | Link to Comment knukles
knukles's picture

and he "o" sounds lik "oy"

Wed, 01/19/2011 - 09:03 | Link to Comment nontaxpayer
nontaxpayer's picture

Can't even trust the Swiss anymore - first they devalue their currency and now they steal assets. What's next - confiscate the gold placed in their vaults?

Wed, 01/19/2011 - 09:08 | Link to Comment Hephasteus
Hephasteus's picture

If they did that the swiss franc would be worth about a grand or two in every other currency. They couldn't export anything. Look switzerland is right in middle of obnoxious trade routes all over that place. It got turned into a smugglers den back in the 1600 hundreds and it's always been a smugglers den and always will be.

Wed, 01/19/2011 - 09:04 | Link to Comment EscapeKey
EscapeKey's picture

Presumably they have the serial numbers of the bars he, um, acquired?

Wed, 01/19/2011 - 09:15 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Cocoa shortage looming too? Seriously. 

Percentage of cocoa that comes from West Africa: 70 percent

Now that is some dependence eh?

Wonder what it's doing for the stock price of Cadbury and Lindt.

ORI

http://aadivaahan.wordpress.com/2011/01/18/the-callousness-of-pornography/


Wed, 01/19/2011 - 09:22 | Link to Comment nontaxpayer
nontaxpayer's picture

"Wonder what it's doing for the stock price of Cadbury and Lindt."

Nothing for Cadbury I'm afraid.

Wed, 01/19/2011 - 09:16 | Link to Comment johngaltfla
johngaltfla's picture

But will they freeze the assets of all the Federal Judges from the U.S. "rumored" to have tax-evading secret accounts there? That is the question I want answered....

Wed, 01/19/2011 - 09:17 | Link to Comment youngman
youngman's picture

It seems to me that being a politician or dictator is a very profitable business....

Wed, 01/19/2011 - 09:19 | Link to Comment scratch_and_sniff
scratch_and_sniff's picture

" curiously interconnected nature of globalized markets ", now that's sarcasm.

Wed, 01/19/2011 - 09:38 | Link to Comment REPEACE
REPEACE's picture

As the founder of REPEACE.com and the Repeace community  on FB, I am so inspired by ZH. Your postings are exactly what we like to share. The substance of your postings are touching the core element of our problems and what needs to be addressed on a daily basis. I would be honored to appeal to you with my movement and explore synergy and action. For now, thank you for your amazing work. 

Wed, 01/19/2011 - 09:47 | Link to Comment NOTW777
NOTW777's picture

seize the gold, sell it and use the proceeds to feed and aid the tunsians on the ground suffering mightily

Wed, 01/19/2011 - 09:56 | Link to Comment Xibalba
Xibalba's picture

One more reason why not to keep your wealth in a bank. 

Wed, 01/19/2011 - 10:20 | Link to Comment John Law Lives
John Law Lives's picture

The unrest in Tunisia is sending alarm throughout the Middle East:

http://apnews.myway.com/article/20110119/D9KRCORG1.html

The disparity in wealth in many nations is a source of tremendous friction and civil unrest.

Wed, 01/19/2011 - 11:42 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Wow. The aristocracy is harsh on one of their own when they fall, huh?

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