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And The First Thing Ukraine Will Buy With IMF Money Is...
A month ago, it was alleged, that Ukraine - under cover of night - loaded its gold reserves onto a plane and shipped them off (for safekeeping) in the US, as the potential price of 'liberation'. So how ironic that, given the massive gas debts that Ukraine owes to Russia (and prepayments pending), and sizable bond maturities pending, the first thing that Ukraine's National Bank governor will be buying with his freshly minted loan from the IMF is... buy a billion dollars of gold.
We presume Gazprom still gets its payment and bondholders get paid off - because that seriously impair 'investor confidence' which is, as they note below, is what is crucial to stabilize the nation's economy... but it seems the Central bank has other priorities...
Kiev will use the first portion of the International Monetary Fund (IMF) loan for augmenting its gold and currency reserves in order to stabilize the financial situation in the country, National Bank Chairman Stepan Kubiv said on Monday, May 5.
“Over $1 billion from the first portion of the loan will go into the gold and currency reserves of Ukraine, which will strengthen the financial system of the country. The remainder will go to the budget to stabilize the macroeconomic and financial situation in Ukraine,” he said.
Kubiv believes that the IMF loan “will send a positive signal to foreign investors and domestic entrepreneurs, improve the investment climate in the country and stabilize the hryvnia”.
On April 30, the IMF Board of Governors approved a two-year standby credit facility of $17 billion for Ukraine. The first portion will amount to around $3.2 billion.
What is odd is that Ukraine's gold reserves have been soaring in recent years - so it's hardly been a confidence-inspiring move for Ukrainian entrepreneurs and foreign investors so far?
So the big question we are left wondering is - whether all the IMF is doing is "giving" Ukraine money so it can buy gold as proxy for the NY Fed...
with that next batch of gold also set to be confiscated by the Fed and shipped off to Germany (and maybe even Switzerland) to cover their growing repatriation demands.
One wonders if this news has anything to do with the fact that since the approval of the IMF "loan" gold has had its best 2 days in 4 months...
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Hold on a second. Is this guy related to Gordon Brown?
He's stating upfront that he's going to buy $1 billion dollars of gold?
WTF is this bullshit.
Spoiler alert - this is bullshit.
My what fine sheeple are raised in Ukraine.
The Ukrainian people are buying gold for Germany...I'd have to join Russia if I were them.
SURVEY SAYS?
THE IMF GOLD IS FOR GERMANY!
True, West Germany had no intelligence services. But today's re-unified Germany also includes the East Germans.
Like Merkel.
The East never got rid of their intelligence services. The Stasi were famous.
I wonder what they call it in Germany now?
So, to summarize:
- The choice of groups to assume power in Ukraine (Yats rather than Kitschko) points to - GERMANY
- The benefit of Ukrainian pipelines that can transport NON-RUSSIAN energy goes to....GERMANY.
- The justification to build an 'EU Army' if the American's can resolve this mess will result in huge armaments contracts to the great industrial power of the EU, which is.... GERMANY.
- The power behind the European Energy Consortium, whose pipeline projects have been in direct competition with Russia's since at least 2004 is .... GERMANY.
- And the Power that Putin says is behind the situation in the Ukraine is... THE USA????
WTF?
The KGB must be slipping.
"The justification to build an 'EU Army' if the American's can resolve this mess will result in huge armaments contracts to the great industrial power of the EU, which is.... GERMANY."
Maybe. But its probably not so simple. It appears that many military contractors operate in multiple countries.
Can one buy Gaz with gold?
Theabstraction:The idiots, they should be buying silver and platinum.
Why the fuck would they do that? They already have silver mines and gold mines...
http://www.korabresources.com.au/others.html
http://investukraine.com/sectors/metals-and-mining-in-ukraine
http://www.bullionstreet.com/news/ukraine-to-start-large-scale-gold-mini...
This was a heist, pure and simple.
Adding insult to injury for ALL Ukraine...
The latest announcement from the same piece of shit on February 21 that told the installed "rump" government to take the Russian's negotiated settlement who then turned around less than 2 days later and violated the agreement with a search and destroy mission on Yanukovych and ousting all of the "duly elected" representatives in their Parliament!...
If the Germans were wise at this stage they would have a confidence vote on Merkel's government and both she and Steinmeier would not only be out of office permanently but would be facing a war crimes tribunal.
http://www.themoscowtimes.com/news/article/germany-widens-travel-warning...
Germay has a very sober look at the situation in the Ukraine.
Frau Merkel, knows that the US are fighting Russia, while Russia is a far more important trading partner for Germany compared to the US. Ukraine is of strategic interest for the US but not for Germany.
This warning which was broadcasted today in the radio all over Germany is only a travel advice for all Germans regarding Ukraine. Leave as fast as you can. Or dont travel over there. The reason is very simple, there is going to be a mayor civil war starting now. It is Ukrainians against Ukrainians. One side assisted by Russia, the other side by the US. Just look at Syria, this is now happening soon too in Ukraine if not a wonder happens.
This is a clear warning for everybody including the Ukrainian population that the things become very soon much worse. US mercenaries are going to fight too and they will be for sure the first targets of the Russian efforts. Given the excellent intelligence situation for the Russian side it can be expected that a bloodbath is going to happen among these mercenaries and everybody standing next to them.
See this:http://www.whatdoesitmean.com/index1767.htm
and this
http://www.jpost.com/International/Odessa-Jewish-community-mulls-emergen...
Central Banks of the world buy gold as a
1 Hedge
2 Medium of energy storage
3 It really is money
4 It is on sale
5 Preparation for the reset
6 Shiny metal that is attractive...
I know I convert FRNs as fast as I can.
Long books and hand tools.
Oh...btw...Bank of America? Fuck you and who are your accountants? Same as the FED as they missed the FOUR BILLION DOLLAR OVERSIGHT!
Off topic, but motherfucking Jim Cramer just popped up in my face again ... and I'm outta here for today.
Wise up, Tyler: CRAMER ADS = LESS TRAFFIC FOR ZH.
No, no. Click and minimize. Get some of Booya's money to support the site.
So Gold is just a Money!! Not a Tradition, Helicopter Ben Clown!! But you can't eat the Gold, This one from Wallstreet Cartel!! So just give it to me I will safe Keep it and get you a Paper claim!! But why the Chines are not ready for the Paper!!??!! We could fool those MF!!
RECAP:
The Big Lie + What Happened To Ukraine’s Gold?21 March 2014, by The Doc (Silver Doctors)
http://www.silverdoctors.com/the-big-lie-what-happened-to-ukraines-gold/
Ukraine Replaces Central Bank Head
24 February 2014, by Daryna Krasnolutska, Kateryna Choursina and Ilya Arkhipov (Bloomberg)
http://www.bloomberg.com/news/print/2014-02-23/ukraine-interim-leader-warns-of-economic-danger.html
Ukrainian gold reserves loaded on an unidentified transport aircraft in Kiev’s Borispol airport and flown to Uncle Sam’s vault
7 March 2014, by Marcus Brooks (News Wire 24)
http://newswire-24.com/2014/03/07/4827/
Ukraine Gold Reserves Said To Be Put On Plane For Safekeeping in the US
9 March 2014, (Jesse's Café Américain)
http://jessescrossroadscafe.blogspot.com/2014/03/ukraine-gold-reserve-put-on-plane-for.html
Gold went to Goldsack. Ukraine received a receipt for itys gold. Now money went to Goldsack, receipt was enlarged a bit. Now more paper gold is stored in the US safeguarded for the "Ukrainian People". Once the Ukrainians do need the gold they can have it all back but the delivery time is appx 150 years, sorry guys!
I hate paying for other people's bills.
Check Mate!
Russia's Return on Investment for taking over the Ukes just went up by a billion in gold. They're probably doing a happy dance about now.
It's not just the US who "has entered a Post Constitutional era" (officially).
It's the whole World, we're all into deep sh...t. We've been there for quite some time, no rule of law whatsoever.
The gold purchases won't be going to the Ukrainian people. The gold bullion when purchased will end up being transferred through banks, never being good deliverables, (balance shuffle sheats) for military purchases, radar, launchers, helo's, ammo...end game for the IMF loan is to purchase military equipment in the face of Russia with an unpaid Gasprom bill. it's a spoiler alert:(
Russia gets paid and NATO has another arm to inject!
Yats is a Jewish central banker. What did the Ukrainians expect Ukraine’s National Bank governor to do with the IMF loan? Give it to the people?
I mean the purpose of the coup was to put IMF operative Arseniy Yatsenyuk in power, you know, so the interests of the IMF bankers would take precedence over the needs of the people. You know, just like in America
Naturally, this is IMF procedure, give the money to the politicians to use at the bankers’ disposal, not to the people to use for their businesses which could have improved their economy. Instead, the gold will buy weapons - power - and increase the tyrannical control of the IMF’s fiat currency.
As has been said, IMF "money" turns inefficient tyrannies into efficient tyrannies… and the people into slaves.
Hu Jintao: My government should have bought gold. Unfortunately, all our assets were tied up in Treasury bills.
US borrows to pay IMF, for IMF to loan to Ukraine, Ukraine buys gold ... From whom? From the IMF?
We all know the aid to Ukraine from IMF is coming in the form of loans. I would like to see the terms of these loans, once you know that, you can calculate Ukraine's loan servicing costs going forward and total cost of loan at maturity. One suspects this is a fast heroin kick of fiat, then the citizens of Ukraine, many not even born yet, will be obligated as debt slaves to the IMF and the Western Bankers. The idea is that this money jump starts Ukraine into the world of productivity and economic expansion, along with social spending austerity. The profits from this economic growth model will be used to service debt payments. All this depends on Ukraine's economy turing productive with balance of payment surplus and tax revenues coming in to eliminate deficit spending.
Now call me crasy if you like. But I want a show of hand from all the ZH 'ers who believe the Ukraine economy is going to become net. productive and the society will deal with divisions and settle in to peace and social order. How many believe the days of looting are over, who believes the elite financial dictators of Ukraine will stop stealing ans start creating productiv eenterpises, in which labor gets a fair share, which will jump start domestic conusmption.
This IMF plan for Ukraine is a fucking hoax. It will just fuel another few billion in wealth transfer to the ultra elites, and deep austerity and job loss for the people. Germany will shut down industry in the east and once all this is closed, that production will shit to German factories using cheap EU free movement labor.
The main goal of Euro Maidan protestors, other than their USA supplied daily 50 Euro pay, is to get Ukraine associated with the EU to the extent that free movement will apply to Ukraine. Listen with care to what ordinary Ukrainians say about their future. What i hear from people under 40 is the same, "Free Movement" "An EU legal passport". Once granted, half the people under 40 will move to Germany, France, Britain. The patriotic West Ukraine is a lie, they all want out. Whereas in the East, Russian Ukrainians want to STAY where they are. They want investment in their industry, they want to work and develop their homeland. You wonder why East Ukraine refused to accept the NATO imposed coup government in Kiev? Look at the differences between these people, one want EU debt money and a passport out of their homeland, the others want no IMF money, instead they want work and investment in their mines and manufacturing, they want to build their country free from EU bankers. The difference is that the EU will close down East Ukraine and fire them all into a debt slavery jobless hell, while close ties to Russia promise continued jobs and investment and a secure homeland with money flowiing into productive investment, not IMF slavery.
The Western media trys to lie about this all. Their job is to further the IMF and NATO plans for Ukraine. The choice is clear, give the West and Kiev what they want, EU membership and NATO armies. Give the East what they want, sovereign control over their lands and Russian military protection form Kiev's Nazi COup govenment, and EU and US bankers and their slavery loans. How hard is that? But the west wants it all, they will push the world to World War three in order to take what they demand is theirs, the world is not enough, not for Washington.
Well said, Jack. Put that on National Review and it would last five minutes. (I know, I do much more humble postings and they are taken off on a regular basis within minutes. It's their site, but Jeez, you would think they would be open to real difference of opinion.)
So, to summarize:
- So the IMF - currently chaired by Christine Lagard of France - gives money to Ukraine, which it will use to buy Gold. This is good for who? Who was it again that asked their Gold to be repatriated and was told to wait for 7 years???... Oh, yeah - GERMANY.
- Backing NAZI groups to assume power in Ukraine doesn't play well with the Israel lobby and points to - GERMANY!
- The benefit of Ukrainian pipelines that can transport NON-RUSSIAN energy goes primarily to....GERMANY.
- The justification to build an 'EU Army' if the American's can't resolve this mess will result in huge armaments contracts to the great industrial power of the EU, which is.... GERMANY.
- The power behind the European Energy Consortium, whose pipeline projects have been in direct competition with Russia's since at least 2004 is .... GERMANY.
- And the Power that Putin says is behind the situation in the Ukraine is... DRUMROLL, PLEASE....
THE USA????
WTF?
The KGB must be slipping.
QUI BONO?
This is good for who?
Been to a gold mine lately?
Buying gold is bullish for CAT and XOM.
Where is the "sarc" ?
I wonder if they'll melt a portion of the gold down into little (1 toz) swastika commemorative coins?
I traded my fiat for gaz-prom and you should too.
The Ukrainians will be buying gold but will they actually receive it?
Or will they instead get a receipt telling them that it is held safely for them in New York?
Yes, the money going to US for guns etc. The gold is on the paper so no trace that IMF money was used to finance the civil war. Same old story everywhere. Gimme your money I'll give you a receipt for gold what is stored in my cellar. You can take it out whenever you want, ha,ha, ha
That's one step away from a central bank printing money out of thin air to buy gold instead of bonds/securities
Everything's connected.
Aaaaaand it's gone.
Welcome to Ponzi Planet, third douche bag from the sun.
Didn't Ukraine just transfer its gold to the US? So now, they'll accept IMF loans in exchange for bloodshed in the east and with that money, buy...
...gold?
What am I missing here?
I guess they don't need to spend any of it on Meals Ready to Eat (MRE).
Those barbarians! Nuke'em all!
They may need that gold to pay for Russian energy supplies if Russia ends up demanding payment non-dollar roubles or gold. The IMF won't agree to conversion of their loan proceeds into roubles, but gold... that's a different story...
Three words, legalised money laundering
The gold metal that was in Ukraine in March now sits in Germany.
Check the statements by Henner Asche of the German Central Bank on bullion holdings.
They magically increased by 32 tonnes approxiamately the same date that 32 tonnes went missing from Ukraine.
See
http://www.bullionbypost.co.uk/gold-news/2014/march/27/69-tonnes-gold-re...