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Mario Draghi Orders Cyprus To Sell Gold To Cover Bailout "Shortfall"
Update, and sure enough:
- PANICOS DEMETRIADES SAYS CYPRUS CENTRAL BANK INDEPENDENCE UNDER ATTACK,
- DEMETRIADES SAYS GOVT WANTS TO SELL GOLD WITHOUT CONSULTATION.
- CYPRUS CENTRAL BANK GOV DEMETRIADES SAYS HE AND HIS FAMILY RECEIVED DEATH THREATS
As a reminder, Panicos holds the now obsolete position of head of the Cyprus Central Bank.
* * *
As was noted two days ago (so certainly not the news catalyst for today's gold sell off as some are trying to make it appear) as part of its bailout expansion by 35%, Cyprus announced, then refuted, then re-admitted, it would need to fund a portion of the incremental €7 billion in cash demands by selling €400 million, or nearly all 13.9 tons, of its central bank gold. Today, we learn that this demand came from none other than the head of the ECB Mario Draghi. Bloomberg reports: "European Central Bank President Mario Draghi said the profits of any gold sales by the Cypriot central bank must be used to cover losses it may sustain from emergency loans to Cypriot commercial banks."
Of course, to make it seem that the Cyprus central bank is "independent", the "European creditors today left a possible gold sale in the hands of the Cypriot central bank, which manages 13.9 metric tons of the metal, according to the World Gold Council." Naturally, it would not be very politically correct to give the impression that it is none other than the collateral and asset-starved European central bank that is effectively running local monetary policy of its member states, and certainly would not make Cypriots, already devoid of their uninsured bank deposits, happy that the next demand by the ECB for the privilege of staying in the EUR is for them to hand over the only real asset their country has.
More from Bloomberg:
“The decision is going to be taken by the central bank,” Draghi said after a meeting of euro-area finance officials in Dublin. “What’s important, however, is that what is being transferred to the government budget out of the profits made out of the sales of gold should cover first and foremost any potential loss that the central bank might have from its ELA.”
ELA stands for Emergency Liquidity Assistance, a lifeline that can be offered by national central banks in the euro region to commercial banks that can’t get funding.
Asked about a letter he wrote to Cyprus President Nicos Anastasiades, Draghi said the letter is “very, very clear.” He said the government must abide by the central bank’s handling of the gold stock, since it is independent from political control under European rules.
“The independence of central banks in the euro area is enshrined in the treaty,” Draghi said. “The ECB will look at developments in Cyprus from this angle.”
Speaking alongside Draghi, Dutch Finance Minister Jeroen Dijsselbloem said selling gold “has always been an option put forward by the Cypriot authorities.”
“But as mentioned in the program documentation, this is a decision to be made independently by the Cypriot central bank,” he said. “And it’s not any demand from the troika or the eurogroup.”
In other words, central banks are independent, except for when the ECB tells them to sell gold to cover losses for loans made by collateralizing already worthless assets, or simply created out of thin air and backed by the full faith and credit of the Euro.
Naturally, for every seller of gold, there is a buyer. The only question now is whether Cyprus' gold will end up in the willing hands of China, Russia or the very ECB telling it to sell the gold, and at very depressed prices at that.
Finally recall that the Fed and BOJ are now injecting about $160 billion in newly created money in the G-7 market every month, and there is no end in sight to said monetarily dilution, a number which is set to rise to at least €200 billion once the BOE joins the fray this summer once Mark Carney finally arrives.
In this context, one wonders: should one side with those who are selling their gold, or those who are buying it, such as Goldman which advised its clients two days ago to sell their gold to Goldman's willing traders...
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They can still tell the world the price of gold must correct before they part with a single gram of it.
Cyprus might be broke, but it's big enough to crash the COMEX if it so wished.
"Dijsselbloem said selling gold “has always been an option put forward by the Cypriot authorities.”
I'm sure it has been ever since the gun was pressed against the side of their heads.
Sorry, Cyprus. Too late for you. You're done. You shoulda taken your chances outside the Euro but you walked into the slaughterhouse on your own legs, which are about to be severed from your body.
Thing that gets me is that the gun is actually pointed at the ECB and Eurozone if just one leader with balls picks up the gun and is willing to pull the trigger.
My Cypriot friends,
Tell this idiot draghi to come get the shit himself.
Then do us all a favour and run the cunt through.
Coming to a country near you folks, unless we stop them, the ball really is in our court. How much more are we prepared to take folks?
Wise words :)
You dont need a PHD jmcadg,
To know when the establishment is taking the right fucking piss, you only need give these cunts a reason not to break their legs, or theirs kids legs, or their wifes legs, 'cos believe you me, they will do it to you first.
These insane fuckers need taking down a peg or two before they fuck us all.
Looks like these sad sacks of shit are going to capitualte with ease. Depressing.
Cypriots have proven that they r willing banker bitches who have chosen serfdom over resistance and socio-economic freedom...
those who in the face of naked repression and terrorism either physical or economic who refuse to resist r no friend of mine...
THERE CAN BE NO SYMPATHY FOR THOSE UNWILLING TO CONFRONT THEIR OPPRESSORS...
FIGHT BACK AGAINST THE FUCKING SOCIOPATH BANKERS OR FUCK YA'LL CYPRIOTS.........
Kaiser,
Some of will fight back mate,
Bank on it.
show me.....................
Hehehe.
You think everyone is a keyboard warrior mate?
The shit is getting real here mate and thatcher gets burried next weds. We have had riots and kick offs since she kicked off, the party is just getting started, and when it goes, I believe it will be here.
Look at Britain, the most divided and polarised nation on earth, keep watching friend, it'll start here.
"You think everyone is a keyboard warrior mate?"
nope...just think that many people cowards - live n fear of the state which we know is controlled by the money changers...
not doubting u...doubting the many... im watching
On the anecdotal side, my wife usually send me articles via email most days. Usually the MSM crap. One of the articles she sent today actually used the language "elites" in describing upper class folks. That really took me by surprise. Such language is class warfare stuff. Now bleeding into MSM work. Interesting. FWIW.
Have family over in Blackheath. I can certainly attest to your position that the UK is socially fucked. No offense intended at all my friend. My family is from there so it would be like the pot calling the kettle black. Plus, the US really isn't that far off the mark in it's own regard.
From a social standpoint, too many places are walking the edge now where social decay leads right off the cliff into the abyss. Got a feeling that we are going to visit bottom soon.
TELL DRAGHI WHERE TO GO. NOW YOU GUTLESS IDIOTS!
You hold the cards, Draghi knows it and he's calling your bluff Cyprus. As he had done for well over two years now.
Call it, don't sell your gold. Do you think Italy etc will sell their gold, hell no. They will take everything they can, until they can't.
But you are at that stage now Cyprus. Don't sell your people out to the banking elite EVER.
OT
Man Gets 7 Years for Stealing Obama's Teleprompterhttp://www.nbcphiladelphia.com/news/national-international/Man-Gets-7-Ye...
"Go ahead and steal it. We'll buy moar." - Ben Bernanke, spokesperson for President Obama.
Six years of that sentence was because of the shitty speech Obama gave without it.
Seems like there is a big Monopoly game going on in Europe where those owning Park Place are slowly sticking it to those in Baltic Avenue
lucky for the eu that cypriot gold is not being stored in the usa...
Hence the "interest", it seems.
They'd hit the Ecuadors of the world but, damn that's a long plane ride.
I've lost faith in the folks here. They'll never leave the EU. They're too scared of any alternative.
silly Cyprus. keep selling anything and everything. destroy you way of life. for what? to bail out ECB and core EU banks. yep.....
Oh look, the down tick troll is here. Welcome dumbass.
Hmmmm... who was it again, just last week or so, who said that none of the bailout plan for Cyprus came from the ECB, but was the sole ownership of the European Institutions in Brussels?
I've said it before and I'll say it again, the ECB and EU bureaucrats have their heads so far up their own asses they can perform a root canal by colonoscopy.
Uhm... kay but it will take 7 years to deliver. Oh and it will be paper gold IOUs which is the only thing we have in the vault. Deal?
Yeh, better sell now while it has some value.
Screw gold and Bitcoin. you can't eat it anyway and it's one big bubble.
the psychodownposter is baaaaack
My New Economic Plan is to go a cooking school on Gov't money. Then, work in a 1% kitchen where I can dry hump their duaghter and saute' their cat. As an American, I believe I have talent
And Cyprus, don't forget, the reason he doesn't want you to sell your gold is to remove ANY possibility of you having your own collateral to leave the Euro and set up your own currency.
Why stop with dry humping?
The title of this piece should have been "The Rape of Cyprus."
Too bad Cypriots don't have drones. They could alleviate their ECB Banker problem.
You don't need a drone, you just need a man willing to give his life for a cause.
The only asset they need right now is a boat with a pallet sized hole in the bottom.
If Cyprus is holding physical, they probably have far more than most countrys who have paper claims, hello Mexico.
AND HE RECEIVED DEATH THREATS....
Talk is cheap. If you're serious, you DON'T tell them you're coming after them. Actions speak louder than words.
that you krugman, clicking all the thumbs down?
Oh boy... well, the courageous and dangerous thing would be to bail on the Euro and start their own currency (perhaps gold backed), but here's option #2. Good luck to them !
SURRENDER YOUR FLESH. WE DEMAND IT.
I am honestly very surprised that nobody has tried to kill some of these Central Bank scumbags in the US and Europe.
Is there no Guy Fawkes for our times?
"Is there no Guy Fawkes for our times?"
He's delivering pizza for tips.
So who's buying it? Some masked man. This is BS. What's with the anonymity?
So are they pushing the price down to scare them into selling soon or risk an even worse price? Wake up; it's time to buy!
I bet Draghi and his family will buy it with his paid in advance retirement funds and it will be shipped post haste to the Swiss banks within the week....in a hidden account...
Another gift to the central bankers and individual stackers.
Enjoy.
Cyprus sold its gold today in London.
Yeah?
If I were a PIG central banker, I would be shopping for a large and leaky boat.
Writing is on the wall, but it's amazing how Humpty Dumpty never seems to fall.
Dear Europe, News Flash:
WHEN YOU JOINED THE COMMON CURRENCY, YOU LOST ALL CENTRAL BANKING FUNCTION AND INDEPENDENCE. NOW IS A LITTLE FUCKING LATE TO REALIZE THIS.
Christ, these assholes are clueless.
And no, I’m not surprised by any of this, and it definitely is very neo-fascist (seizing assets for the good of the state/collective). The Euro-crats need to be destroyed.
The Euro was doomed from the start. You cannot have monetary union without political union.
This is the logical outcome. Get ready Portugal, Ireland, Spain – you’re next.
PLEASE, Cyprus, tell them to FUCK OFF.
DavidC
CYPRUS CENTRAL BANK GOV DEMETRIADES SAYS HE AND HIS FAMILY RECEIVED DEATH THREATS
And you don't think you hold the cards Cyprus?
as i said yesterday - Give a bankster a brick of gold, and feed him for a day. Give him a goldmine and feed him for a few more....
these fucks aint getting my fishing pole without a gun and a badge!
Todays Gold Crash
Gold may be falling because of Cyprus.
But the main reason is: we are heading twoard deflation. Thats normal in the endgame of a moneysystem. But it doesn't mean no good for Gold - in the medium term
more:
Gold and Deflation
Perfect time to demand they sell their gold when it just dropped some 60 or 70 dollars. Must be a coincidence.
http://www.youtube.com/watch?v=ZS2Z19yTuPI
Better sell now, before it goes any lower. Gold, and silver are going to zero - haven't you heard? :)
WOOOOOOOOOW It's like the motherfucking Scatino bustout. They fucking tank Gold so that the rape of Cyprus is complete. Pure evil!
not everything is a conspiracy. the fact that 13tons of gold is about to flood the market would be the reason for this move don't you think? geez
Hope there will be blood coming (from) their way really soon. We need a revolution.
And btw, a bit off topic, but since pretty much everyone here was being oh so heartfelt about Mrs. Tatcher's death, just a few days ago, here's some much needed mythbusting: the political edition... Ten myths about Margaret Thatcher exploded
How's that Bachelor's degree in Impotent Rage workin' out for 'ya?
Erm... LOLWUT?
You must be living in another world, don't you? You know, that god forgotten place that (used to) be called the land of the brave, home of the "free"tm, where a delusion is not just a state of mind, but a (the...) way of living... Yeap, good on you... just don't Dorner me, bro - I'm "unarmed"... :P
Mmmyeah, glom glom gurggle, schlurpin' trasel hooba hooba?
I'm gonna make you an offer you can't refuse.
Look, granny. You keep trying to get me to look under that skirt of yours.
Trust me, I can do better.
Independence is under attack is of course a euphemism
we've already established what you are, now we are haggling over the price.
Me thinks the central banks are running out of gold to keep the market down. Here's a fresh infusion from Cypress.
German held for trying to smuggle ton of gold, silver out of Greece
http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_12/04/2013_493377
An inspection by customs officials reportedly revealed that his luggage contained 7,185 kilograms of gold and 293,435 euros in cash. The same suspect is believed to have attempted to smuggle out another bag containing 425 kilograms of silver.
What kind of bag holds a thousand pounds of silver?
It's getting pretty fucked up when moving personal property is considered smuggling.
That story seems too ridiculous to be real.
It seems someone just screwed grouping/decimal separator conversion, and it's either 7,185 Kg and 293.435,00 €, or 7.185 Kg and 293,435.00 €. No clue about the silver, thought.
The fee to check the 1,000 pound bag of silver on the airplane would probably be what the silver is worth, unless it was Chuck Norris who was smuggling and decided to carry-on.
Right, because we all know the only legal transfer of money is stolen by the government from you, but it’s completely illegal for you to work hard, save the money you earn then move your own property as you please. These fuckers…
I think the central banks are running out of gold to keep the price down with, so they ordered Cypress to give them their gold.
Who can just walk in and buy 13 tons of gold? Why, the people who ordered it sold. They will just print their worthless "exchange-medium," walk in and buy it.
Draghi needs to be terminated.
terminated...with extreme prejudice.
When will people say enough is enough? I am doubfounded that people put up with this.
All the Cypru have to do is say "No."
Of course then they'll have to back up that "no" with the force of arms, but that's another topic.
Thatcher was right - as she wrote in one of her books - Germany will be left holding the bag(s) and the poorer countries will need bailouts.
400M in gold. That's fuck all. Gee - it must be the gold.
The Germans are defintely suckers to let themselves become the scapegoats but it's too late now, that teutonic arrogance has done nothing but get them in trouble through history time and time again, tragic in it's predictability.
It's as clear as day to me, the powers are manipulating the true valuable " commodities market down and grabing as much as they can get, knowing both the fiat and stocks will be tanking in the near future.
The Dictator Mario Draghi demands that the Cypriots kneel down before him and lick his boots
Hey Mario, there's a guy in Nicosia who is hiding a five euro bill in his cellar. PM me for the full address.
I have a little dreidel. I made it out of clay.
When it's dry and ready, then dreidel I shall play.
Oh dreidel, dreidel, dreidel, I made it out of clay.
Oh dreidel, dreidel, dreidel, then dreidel I shall play.
It has a lovely body, with legs so short and thin.
When it gets all tired, it drops and then I win!
Dreidel, dreidel, dreidel, with leg so short and thin.
Oh dreidel, dreidel, dreidel, it drops and then I win!
My dreidel's always playful. It loves to dance and spin.
A happy game of dreidel, come play now let's begin.
Oh dreidel, dreidel, dreidel, it loves to dance and spin.
Oh dreidel, dreidel, dreidel. Come play now let's begin.
I have a little dreidel. I made it out of clay.
When it's dry and ready, dreidel I shall play.
Oh dreidel, dreidel, dreidel, I made you out of clay.
Oh dreidel, dreidel, dreidel, then dreidel I shall play.
the jew bagel metal assassins are pleased today.
This taking of the gold is no surprise. I would even assume it is part of the 'template'.
It is part of the global 'harmonic convergence'.
The Council on Foreign Relations had a position paper posted on their web site in 2006-2007 about the 'need' for a three currency world.
Pan Asian, Pan European and Pan American.
I believe PMs are being suppressed as part of a larger deal that allows big players to collect gold etc in preparation.
The yuan will be the model reserve for the Pan Asian
The dollar will be the model reserve for the Pan American
The Euro already exists.
But before the Euro can switch to a new 'backed' currency, they must collect all the gold into their sweaty little palms. This means raping the small countries first. But they have to take in by 'legal' means. LOL
But the E.U. MUST collect the gold from the smaller players so that when the 'new' backed currency comes out, those little guys have nothing left to allow them to leave the E.U. They will then be trapped forever or for as long as the E.U. exists.
China does not have to be quite so covert when they are ready. They have no illusions of democracy to uphold. They'll just tell everybody one day....
The U.S...? Well....we will do it using a little bit of both methods.
Philharmonic actually.
Wait until Mario finds out that the gold is already on a boat somewhere in the Black Sea.
“Now you know how I feel Mario”, Jeroen Dijsselbloem
Headed in the direction of Sevastopol.
There's an Eu troll wasting his time red arrowing every single comment on this thread. http://rt.com/news/eu-trolls-election-monitoring-348/ #itsmyfuckingmoneyyourewasting
Can't wait to see who the Buyer/s is/are .....China Russia ??.........IF THE ACTUALLY SELL ..
I'm guessing it will end up in the EU coffers.
But it can't be obvious or that would put gold in the spot light so they will 'back door' it.
Maybe George Soros will help them out.
Would there have to be a sale - I would think the ECB would accept the transfer of ownership no?
Perfect, so they can get credit for it marked to market value plummeting, instead of the massive premium the like of russia and china pay for their massive purchases.
I guess in reality though, it probabyl was paper anyways. Fuck the bastards balls deep no lube first stroke.
Fuck you Mario. I ORDER YOU TO DROP FUCKING DEAD.
My bullion dealer in the Netherlands says on its website: due to heavy fluctuations in the market we can only confirm your order placed after 1700 pm over the weekend on monday by 11 am.
expecting cyprus to say fuck off over the weekend maybe?
or war could break out. so many 'un'knowns
Or a comex problem, or some other black swan. Something is up, the pm market is bouncing to every corner, from inventories to prices to Cyprus etc. Anything can happen. I believe will happen in a rather short time. We'll see. I have some stuff to order.
Draghi forgets Central Banks exist at the pleasure of Government.
Who is Draghi to write letters to a sovereign leader telling them what to do?
Exactly. Cyprus has the ECB by the balls, they just don't seem to have figured it out.
The cost of the bailout now at 23 billion.
But according to BBC...
Meanwhile, the German government said that the size of the eurozone bailout for Cyprus would not rise.
"The contribution from international creditors will not change," said German government spokesman Steffen Seibert, noting that 10bn euro package was "already very large".
It is expected that Cyprus will sell much of its gold reserves to help fund its side of the bailout. Also, bank depositors with more than 100,000 euros in savings will bear part of the cost of the rescue.
Where does the other 13 billion come from?
We're having a "Super Souvlaki Saturday" here in Limassol. All souvlakis sold will have a 10% tariff in order to support the "bail-in". And we'll sell every ounce of physical we can get our hands on.
House GOP shows little appetite for Senate gun control measure....
http://thehill.com/homenews/house/293461-house-gop-shows-little-appetite...
"Growing momentum in the Senate for new gun control legislation has failed to flow down to the House, where just a handful of House Republicans have embraced a deal to expand background checks for firearm purchases."
they can't sell the Cyprus gold, they already sold it years ago
Or lost it in a catastrophic boating accident...
Interesting point.
Is it safe to assume that any gold is tied up as collateral.
Many who were hearing the advices of Jon Nadler are acting with surprises. Even when peoples are saying the speaking you are not liking it is good to be thinking about the words you are hearing. Many stupids who were losing monies because they were thinking stocks could not be going down are having problems in their thinking about golds not going down.
Hahaha....that's pretty funny.
Invoking Jon Nadler.
Hahahaha.
You overwhelming me the blobbing up into my citizenism hearing!
Only an ex- Goldmanite would invoke economic slavery for Cyprus and get away with it. So much for European Union solidarity. Central banksters are the dregs of our society.
My Dad just loaded up. last time he loaded up on gold and silver was back when gold fell to $800 and silver to $9.20...he made a killing buying when everyone was running for the exits.
Indeed. I want to buy this very instant but I’m waiting for a cash infusion first… if I’m lucky prices will remain low until I’ve got it.
It would be delicious if Cyprus actually had shares in GLD or something like that instead of physical, then just sent them to Draghi in normal mail. I think Mario might be a bit disappointed.
Default, you fuckers. Hide your gold for the sake of sanity.
I don't care who's selling. I'm buying.
/ But, but... it's not even "money", according to Bernanke and Buffet. So what's the point? /sarc
I'm gonna start pounding the following theme, until the readers and bloggers finally get it:
THE BIG PICTURE: It's a Grand Plan to use tertiary (paper) wealth as a mechanism to transfer Real (primary) wealth to the Elite. You will soon meet your (new & old) feudal Over-Lords. Who run this country. And their kind that is taking over other countries.
CONTEXT OF THIS POSTING: TPTB (a globally-linked, private Hyper-Elite) are going to keep stealing assets and wealth. In this case: GOLD. Private and Public. They will keep setting up companies and while countries for over-leveraged failure, so they can strip all their real assets for deep discounts.
WTFU (Wake The F...k Up), you god-damn sheep!
p.s. At some point, when one or more of the more popular bloggers start repeating it (to a crescendo of up-arrows), I will know that my job is done.
If Crimex has 41M oz registered silver in the warehouse, and SLV is trading (today) 30M oz in a single day, shouldn't Crimex be increasing the amount of silver they have, or is this just another example of the difference between the physical and paper markets?
RichCash8 • 9 minutes ago
Futures gold hit $1491.40 and Silver hit $25.97, then this happened:
'US Sets DEFCON 3 as Chinese Troops Mass at North Korean Border':
"April 12, 1013
WASHINGTON — For the first time since the terror attacks that took place on September 11, 2001, the US has now set its DEFCON status to level 3.":
http://intellihub.com/2013/04/...
Massive bear trap on gold and silver if true.
American Eagle coins trading at unusual +11% premium to futures:
https://online.kitco.com/bullion/completelist_USD.html
Remindful of Wellington's rout of Wellington when everyone but one person and his agents sold British Gilts thinking Napolean had won...
Given that it is becoming very clear that the Cyprus crisis was and is an intentional ATTACK on Cyprus and that it was set up well in advance by the withdrawal of liquidity by other European banks, Cyrpus would be well within its rights to tell Draghi to "come and get it, if you want it".
It would be interesting to see if Draghi has the balls and power to raise and army.
It is New Normal on Sovereign level:
1. ECB to Cyprus Banks -> Go and Buy Greek bonds and do not to worry about anything, we got you covered
2. ECB to Cyprus Banks -> Bad, Bad investments in Greece bond, Are you bankrupt yet?
3. ECB to Cyprus Banks -> You need money? Steal from citizens and sell your Gold!
4. Cyprus Banks to ECB -> ???
So, the Central Bankers have hypothicated, re-hypothicated GOLD at a 100 to 1 ratio, that we know of. There is NO GOLD in their vaults that is FREE AND CLEAR. Before fractional reserve banking there was fractional reserve GOLD Banking, "Jews" started it.
Today the CB's don't have it, and want it. We know that, and as more entities demand the return of UN-encumbered GOLD, we know they can't return what they have treacherously sold without our knowledge, hypothicated, in time to make delivery. This is one reason so many of the "Jewish Politicians want our GUNS and AMMO. They know they are responsible for what's occured and when we find out the details will be looking for THEM.
The GOLD fractional GOLD Banks way back, knew NO MORE than 5% would demand their GOLD at any given time, unless of course there were other factors. We NOW have many of those factors occuring at the same time today, in spades.
The absolute last thing they should do after being screwed the way they were is to sell or give up their GOLD.
The fact that they are even bringing it up during this crisis tells us alot. In this crisis it shows the importance of GOLD (physical) at the present time, and they are seeking is desperately.
Fuck-them, NO GOLD, under any circumstances from CYPRUS or MALI. If Mali is being screwed, they should make it public, so we know the pressures that exist, and possibly help them by spreading the information, so others can act accordingly.
In a short time it will be proven just how valuable GOLD is and why they wanted it. Like Roosevelt demanding all GOLD in the U.S. at $ ~22.60 and then re-pegging it at $35.00. A giant, instant, shot up the ass. What a fuck-job, and there were many bankers like J.P. Morgan who knew well ahead of time what was to happen, in fact planned it, and fucked the American Public,.. but informed and positioned their friends ("Jews" mostly) based on illegal inside information, who the made fortunes off our backs.
Re: The French in Mali, is also showing the region they wanted to invade and insert themselves just happens to have a load of GOLD. Of all the places in the world to take action, supposedly to help, MALI...is it a coincidence? I doubt it.
It's NO CO-INCIDENCE they are pushing into areas that have GOLD, pressuring any country that has GOLD, refusing to deliver GOLD.
Of course this is old news, but still good to review.
Draghi and co have done us all a favour. By slugging gold to such an extent it is now painfully obvious that they can manipulate anything except the reality of unemployment, deficits, debt and their failure to find a solution to the world's predicament after five fucking years of playing with the full violin section of their miserable central banks while adding fuel to the fire.
Let them do as they wish. My ounces still weigh the same and still hold the respect of history and those that can see through their miserable games.
Doing what it takes. H/t super mario.
Dumb Cypriots. Have nothing left but the gold. They will sell the gold and still face an impossible task. This is where the smart cuts bait and tells the creditors to screw off. That is going to have to happen sooner or later anyways. Might as well have your gold, even if it is industrial, rather than have nothing and face the same fate.
Turn over zee gold or we shall lend you even more money.
Indeed.
Remove all trade restrictions on North Korea.
Send in Blankfein.
badabing badaboom.
It now all makes sense to me. The Comex and the London Metals exchange have been low on Bullion and most likely unable to meet Bullion demand. Goldman Sachs knew what was coming because Mario Monte was put in his position because of his close ties with Goldman. Yesterday out of the blue, without any reasoning Goldman lowered gold prices because they knew exactly what Monte had planned. Monte tell Cyprus that if the want more printed confetti from that whorehouse they had to sell their Gold. That of course made everyone think that Cyprus would dump their Gold for paper as would all of the PIIGS replenishing the Comex and London Metals exchange and possibly the USA need for German Gold. Whenever in doubt, look to Goldman Sachs the most corrupt group of bastards in the world. Amazing how Soros also knew what the plan was to crush Gold and amazing how prepared the Comex was to take Gold down. This was all at the direction on Ben Bernanke the lira of the US cesspool banking system. What an outright disgrace. Russia nd China buy all the gold at depressed prices and Obama keep his word to Russia that he will have more leway after the election.