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Vice Chairman Of Germany's CDU Party Demands Gold As Collateral From European Bailout Recipients
Yesterday we had the Bundesbank making a very strong case for why a pan-European bailout (funded by Germany), would need a "fundamental change of regime occurs involving an extensive surrender of national fiscal sovereignty" (beneficial for Germany), today we see the next and final stage of the proposed annexation of Europe by Germany - that which focuses on procuring that which is really important. Hint: not spam. From Spiegel: "Minister Ursula von der Leyen pushes the hard line: any financial aid for euro countries should only come against collateral - as gold reserves or industrial holdings." More google-translated conditionality: "The CDU politician wants to ensure future aid allocations from the rescue fund through extensive security of the country. The ARD Berlin Studios said the minister, who is also vice-chairman of the CDU party, many of these countries had large reserves of gold and industrial holdings, which they could use for such collateral." And now we know the next steps: i) Eurobonds will come after there is a change to the European constitution which make Germany supreme ruler, and ii) at that point Germany will have all the gold in Europe pledging its bailout. Yes, gold.... not spam.
More from Spiegel:
"Some states are making great efforts to service their debts," she said. "This must be honored. This, however, efforts are also required to maintain long term, it is the collateral," argued the politician. "In fact we have such an effective European debt brake," said von der Leyen,the "Hannover Allgemeine Zeitung".
Thus, von der Leyen, the first cabinet member who has made such claims publicly. The former family minister belongs to the new CDU Commission, which was set up in response to the intra-party debate about the euro crisis. The Panel is to 24 October a Leitantrag work for the party in November. He is also Finance Minister, Wolfgang Schäuble.
Lies with their demands for collateral von der Leyen, however, not on the official cabinet line. For the federal government counts the linking of aid and strict conditions, it said on Tuesday from the U.S. government. Should provide collateral in the form of cash reserves or industrial holdings, the recipients of such aid by von der Leyen's idea, in these circles was not mentioned.
And so on. The gist is more than clear.
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In that case Germany should keep an eye on Switzerland
Wir wollen das Gold. Sie können die Reste haben.
All Heil GOLD!
Jawohl Schlachtmeister! Stets zu Diensten! :)))
Marc Faber: Halten Sie physisches gold , idealerweise in Schließfächern außerhalb der USA.
Marc Faber: Hold Physical gold, ideally in safe deposit boxes outside the US
@ 1:10
http://video.cnbc.com/gallery/?video=3000040963
Marc Faber: Hold Physical gold, ideally in safe deposit boxes outside the US.
Here Faber is a ding a ling(and I like the guy),in a saftey deposit box in ANY Bank, anywhere, is stupid.
Also,like how many countries are going to let Americans EVEN open an account,plus the costs involved of flitting around the globe to store Gold.(he's talking to the super rich, not most real PEOPLE).
Plus, contrary to popular belef,contents of SD Boxes dissapears regularly,and there's no insurance unless you want to pay big bucks, and provide proof of contents.
Storing any wealth in Banks Ultimately controlled by a Commie Gvt is insanity.
exactly right. i do give Faber credit though... at 2:04 of the video he says (twice) "...i do not trust anyone." cnbc doofuses silent.
Anyone can open a goldmoney.com account or bullionvault or goldsilver.com or any of the multitude of 3rd party companies that offer via mat storage in Zurich, Hong Kong, London, Singapore etc etc
It's kind of like Versaille in reverse, bitches. Poetic in a vengeful kind of way.
.....this shit is getting real, fellas.
Charlie Bravo
Yep. I think I'm starting to smell gunpowder and to hear chants of "Germany stole our gold!!"
Well, since you can't eat gold what use does it have. Right?
more like logic.
Why the fuck is Greece Buying Gold with their Bailout money?!
LONDON (MarketWatch) -- The central bank of Greece added further to its gold reserves in June, lifting its holdings by 1,000 troy ounces for a second consecutive month.
According to the International Monetary Fund, the country increased its reserves to 3.585 million ounces in June, from 3.584 million ounces in May and 3.583 million ounces in April.
The debt crisis in Greece and other euro-zone nations like Portugal had led to speculation among market participants and observers over whether Europe's debt-laden countries may move to liquidate their gold holdings in order to raise cash.
However, accounting for the recent small increase in reserves, a spokeswoman for the central bank recently told Dow Jones: "The Bank of Greece buys and sells gold coins, so there is a small fluctuation in its gold holdings from month to month."
Greece's gold reserves are down slightly from the 3.601 million ounces held in May last year after the central bank sold a small amount of its holdings in mid- to late-2010.
...in case they have to leave the euro and need to support their currency. Duh
So if they leave the euro wages out increase!
or are they going to peg it to gold at some thing like 0.00000000 gram for a weeks labour, stone breaking?
This shit is hilarious
Italy it sitting on tonnes of the stuff. Can they just sit tight, wait for the shit to go exponential and actually be in a good position?? IE better than the UK, say? And maybe buy up some of that north sea oil?
Yes, you are correct. This would indeed happen in an "isolated europe" scenario.
But you have to understand there are other forces at work. When TSHTF, wars will break out.
First within europe. Then, when the dust settles, the moslems will just sweep over the old continent and take over.
Such is life.
Gold market is so tiny compared to the cash requirements of bailout targets, that this strategy is hardly worth discussing. Gold would have to be valued at a multiple of where it is today for the numbers to even begin to make sense.
==>Gold would have to be valued at a multiple of where it is today for the numbers to even begin to make sense.
... and that's gonna happen right soon now. It's been happening for a decade, and it's happening right the fuck now. Give it another decade and we'll easily see mid 5-digit gold. $50,000 seems like a nice round number.
They're not stupid - they see this happening and they see their chance to grab the gold(and other collateral) at today's cheap prices. Give it time. It will play out.
Game time.
Now that they are starting to bitch about handing over their traditional barbarous relics and scrambling to get more of it, the price will start to reflect true value in relation to the mountains of paper.
They are maxing our their credit for PMs while they still can. Why not?
LOL ... that is the nation-state equivalent of maxing out the Credit Cards and buying PM's.
That's beautiful!! :)
http://www.youtube.com/watch?v=gRdfX7ut8gw
pony it up bitchez
Gold is looking very toppy for this leg-up.
Hedge your bets peeps and buy some puts.
Negatory. Any spare fiat available for put premiums is to be funneled into physical. Get out of the paper trading game before it burns down.
No more paper, except perhaps mines.
Maybe some paper will go up, but it is still paper, and liquidation is ultimately controlled by the state.
The region between $1900 and $2000 was always going to be the difficult battle. If you think gold will crash through $2000 before Friday (as mentioned on ZH), then you are setting yourself up to be played.
Yep, and only a few months ago $1,200 was deemed Mt Everest for gold. I'd agree gold would 'crash thru $2,000' if Bernank announced QE3 insanity...but thats OK he wont.
Even Michael Burry anticipates easing well into the next Presidential term. I have no doubts we will see QE3. Maybe not this Friday, but by year end.
Of course you do.... sheep to the slaughterer
yeh but then there's a blood bath in equities which also means money goes to gold - or am I missing something
some commentators are actually saying QE3 will end this leg up for gold as money will flow back into equities which confuses the shit out of me...
clearly gold wins either way and they can only halt it with huge margin hikes, confiscation, or leasing. Silver wins even bigger.
If the PTB cannot defend gold $2000 for a month or so, I'll take it as further evidence the next leg down in the markets and financial system are accelerating faster than even I expect.
I'm with Jim Sinclair and his Jesse Livermore method.
Gold is now being pulled up on angels wings
Silver is just breaking out of the shakles too
Hell with that, Ive been hearing 'gold is looking real toppy and you better put your money in puts here' since gold was $500.
Yes, but now I am suggesting it.
If you have to play with paper it might be an ok SHORT TERM move. But really you are just trying to maximize gains. The End Game is afoot Dr. Watson!
FWIW, I own PM mines and Sprott PHYS when I must dabble in paper form...which I must sadly. When ever you can though it's all about Olivia Newton John's age old advice:
http://www.youtube.com/watch?v=vWz9VN40nCA
Enjoy the video 3 ladies of ZH.
right. ok. i was just thinking the same thing. NOT.
Well good thing they just found tons of Au from that defunct Libyan government?
pods
All your Gold are belong to us!
Haha! I love that phrase.
LOL...
How long before they are "in yur base killin yer dewds"?
lol
The little PIIGies ask for their gold back from London and NY and the gold goes where...
Frontrun Hugo, Ursulas.
I'm from London, and I have to say its going to be funny watching the banking sector (and all the hanger-on insutries - restaurants, suit companies, corperate art makers etc etc) falling on their asses. Its going to be dangerous, but also hilarious as I negotiate my way through the carnage with my bullion.
Libya, PIGS, Egypt, Venezuela, et al -- the endgame is GOLD, you can't have a new global universal currency without it
Edward Dempsey, chief investor officer at Pension Partners, has been and remains bullish on gold. "Technically, gold is not showing any signs of slowing down," he says. "It's not at the moment exhibiting any signs of weakness or slowing down."
What's driving gold now is "money running from leveraged financial system," Dempsey says, echoing the views of other gold bulls like Porter Stansberry.
http://finance.yahoo.com/blogs/daily-ticker/gold-rallies-money-flees-lev...
Those countries have lied about everything. So good luck recovering those gold reserves, I don't believe at all they are still where they are supposed to be.
The Great Tungsten Ponzi...
BTW, how do you get orca from a peering giraffe?
Easy, in FED speak I am either a land orca or a sea giraffe.
Land Orca I like it. Wasn't that Blythe Master's high school nickname?
I'm waiting to see if Hugo Chavez gets his gold back from Europe.
Does Thief #1 really have Thief #2's gold? Tune in next week to see!
Whoops! There goes yer gold raid.
Germany sez:
(wait for it)
Gold Bitchez !
More like, "shiny yellow metal, wit ze melting point 1064'C, Bitchez!"
Or, "give us zee money Lebowski!"
Ve vant ze gold back, Bernanke! Uzzervize ve cut off your chonson!
A history lesson:
http://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic#History
Yeah funny thing, turns out Germany taught it's citizens real history as though it wanted a nation that was educated for max productivity and insight. So lets see the US did everything in it's power to hide and obscure history...I wonder what the power elite here wanted...I guess the boomers really scared the poo out of the old money, lord knows after the protest era education was dismantled toot suite, and the propaganda machine went into overdrive.
Speaking of which I still think that to reach across the aisle Michelle Bachman needs to coax Ted Turner to be her VP. Then we can see flyers wither her rictus grin head attached to a truck filling up on $2 gas.
Bachman Turner Maximum Overdrive in 2012 bitches!
absolutely true - and also true of the UK (I mean as being like the US not germany)
once bullion peaks I'm moving myself and my capital to germany or eastern europe
Jawohl mein Fuhrerin!
it is mine, all mine! blitz for the gold!
I think Lady von der Leyen is not serious about Gold as collateral. Speaking out in public, though, might be a strong signal to Merkel not to lose the patience of the voting public with endless bailouts of Club Med.
My guess would be von der Leyen made her disapproval of the bailouts clear in private talks, but Merkel didn't listen carefully.
I would even take it as far as von der Leyen being the next party-preelection opponent to Merkel (you know with conservatism, sound fiscal policy and all that fudge).
The 4th Reich! I wonder if the Globalists thought that one thru.......?
If Robert Ludlum were still alive his sequel to "Apocalypse Watch" would already be on the bookshelves.
Yeah did the Quigley's round table Anglo-American Establishment see this coming? You gotta hand it to Germany, you can beat the snot out of them twice and within 70 years they are coming back for more. If it wasn't for their last iteration they would almost be worth cheering for. I love the average German folk I've met, but like all leadership I'm more than a bit dubious about their power elite.
They are the same people. English are german due to the apartheid imposed by Saxons on Celtic people after the invasion of Britania.
US citizens are for their majority German, English (who are German), French (who are also for their majority German)
They are the same people.
AnAnon,
Yep, and Roosevelt wanted to INTER ALL German Americans (along with the Japanese in WWII,(except he could not, because their were WAY too many of them).
Genetically perhaps and of course there are some cultural similarities. That said what were those whole World War dealies about? Internecine conflict? If so, the brautwurst board of directors looks to be replacing the bangers and mash board. I'm not sure how worthwhile Saxon era history is for determining who is in charge now. I'm aware of the Hanoverian kings etc. I just don't think these two similar groups of power elites have seen eye to eye for at least a couple of hundred years.
...yes http://bible.cc/revelation/13-17.htm
little side note example of the ''plan'': http://foodfreedom.wordpress.com/2011/08/19/usda-signs-mou-with-rockefellers-council-of-foundations-to-exploit-rural-america/
''Pandemonium's Engine'' speaks of the plan too. http://www.youtube.com/watch?feature=player_embedded&v=RQDD4mQE7Tc
Now we're playing poker. I would definitely call Germany's bluff on this... if you give up rights to these materials you are a fool of a country's leader.
Of course, I might play the game by giving rights on paper but if you ever show up to collect...
The one country that probably wouldn't kick in sold their gold back in the late 1990's. I think Germany has their steel toe on the pulse of Europe.
The real question, is what happens if Germany rings up Timmah and asks for the NY store gold back. You think Hugo has upset the markets with his repatriation request.
Problem is, neither you nor anyone else who would is in a position to do so, thanks to the criminal cartel d.b.a "the government." Those positions are all occupied by puppets who will operate as their strings dictate in order to extract "a pound of flesh" in return for all of those funny pieces of paper (or their digital representation).
It's just another round of the same ole mechanism of wealth extraction and transfer via monetary inflation. They'll be nice about it though, refinancing (with proper collateral, of course) at the "lowest rates ever!"
ZIRP4EVA
Duplicate
Germany is no safe haven. German banks are as bad off as TBTF banks in US. Like the fools who think Switzerland is "safe."
Germany. Just another domino.
Founders Keeper.@ 09:45
RIGHT ON BRO.
The ONLY safe is in your HANDS. There is NO SAFE HAVEN............NONE. This LIFE we're talking about, where's any guarantee in LIFE?.
ZERO,ZIP, ZILCH, NADA.
Collateral, yes.
ALL Loans SHOULD require collateral.But Bitchezz, you do not get our GOLD.(maybe they take first born,for field work ya vold?).
Keep your frigging money, we eat cake,and take the austerity, or lose your soverignty forever.
Morning DosZap.
I agree.
And by the way, that gold, it's already been leased out or sold out hundreds of times over. Actually taking physical delivery of it would implode Europe INCLUDING Germany. It's all just tough talk to buy more time.
You think germany if it had all that physical AND INDUSTRIAL CAPACITY seized up and owned would mind a reset? Naw, I think they'd welcome it this isn't spend thrift US we're talking about it's ze Germans. Resets aren't a bad thing when you own everything of value and can dictate policy to your...er...um "trading partner allies".
Turns out all that far right Brit propaganda against the EU being a German ploy might have been spot on. I remember being in the UK for christmas about 7 years ago and all the Brits were a twitter about ze Germans. I rolled my eyes at the time, turns out the brits were right to have the fear.
Look its not 100% safe even in your hands...robbery, fire, trechery...
I don't know how much you hold, but lets say you hold a rather modest 15oz gold and 500 oz silver
If gold goes to 10,000 and silver 500
that comes to $400,000
I'm not saying you're wrong but if you think its safe too keep that much in your house good luck to you.
There's no 100% safe option; all we can do is try our best - for me that means diversification.
Pay up in gold, bitchez! This is about to get hillarious real fast!
So it seems that even Germany has finally realised that collateral cannot be printed and that it must be real.
Shanghai exchange raises margins on gold forward contracts:
http://business.financialpost.com/2011/08/23/shanghai-gold-exchange-lift...
Raising margins on gold forwards contracts could ostensibly prevent lease rates from turning positive while short term nominal rates go negative as the gold price rises.
What should happen if the Chinese demand the same from the US? Secondly, why Gold (Not Money according to Pinnoccio Bernanke), why not printed money??
Yeah, now that you mention it MFL, perhaps China is leaning on US for gold, and in turn, as Sir Dork above has observed, Germany leans on it's soon to be "conquered" serfs for extraction. The question really is, which country is tough enough to "enforce" payback in real money? US and China?
As Jim Rickards once said, "We own the Chinese. When your the debtor to the level we're at, you own the creditor. The Chinese have no real gold reserves, we're the Saudi Arabia of gold."
...so this is how the debt gets paid? gold gets revalues to the level of the us debt, then the us gold gets shipped to china
could well be
What should happen if the Chinese demand the same from the US?
Certainly this would be a problem.
But real chaos would happen if the Saudi's demanded gold or hard assets in exchange for oil. Then they would own us all, even more than now.
IMHO, they are just waiting for their turn. We have been so betrayed by our leaders and the price will be so very high.
sschu
The "leadership" of the Anglo-American establishment has been drunk on power and delusions of grandeur for about 70 years, during that time they have have savaged most of the world. When the dust settles from this current situation who is the world going to prefer as a trading partner, English speakers or ze Germans? 70 years of stupidity burned up every last drop of goodwill the English speaking world earned as a result of WWII. Of course the elites also dumbed down and poisoned their own populace. I'm starting to see that perhaps this has all been framed incorrectly as the fall of the West when it is in fact the fall of the English speaking world.
On the contrary - this forceful projection of force may be a sign of weakness - the Bundesbank is a CIA creation me thinks - the official "German" Gold is under Manhatten.
They may however hold large amounts of private Gold withen their juristiction - I guess they could nationalize their private holdings but how if their Central bank has lost poltical gravity ?
... behind Gold bars, at the German Concentration Camp, labor is tatoo'd 666. http://www.youtube.com/watch?v=U5VtlCDnD9E
How ironic, even all of Hitler's wermacht couldn't hold on to Europe. Gold is mightier than the sword.
For you anti-gold bugs out there, THIS is what gold is used for. You use it for collateral. You don't need an apolocalyptic scenario to play out to know why gold is useful. You don't need to be able exchange groceries or a tank of gas for gold. It's not for crazies. It's for people who know how the game is played.
This is the re-monetization of gold.
Julian Phillips said something similar:
Why is gold an important reserve asset? In times of international financial stress, gold will settle international financial obligations, when government promises won’t.
http://www.kitco.com/ind/AuthenticMoney/oct012010.html
...where did the gains come from for Gold? Oh yeah, Chairsatan's inflation and demand destruction machine. lol. So, ...uh, the short term fiat freaks devalue labor and we all get to drink from that cup. lol, No problem right? lol. What is the price, when you realize those gains they made out of their Golden Image? lol
...people know about the good Gold standard, it's even in scripture. It;s not about being anti Gold, you should understand that. http://www.youtube.com/watch?v=N7sCP9z_Pik
the german goverment denied it quickly:
http://ftalphaville.ft.com/blog/2011/08/23/660276/collateral-credibility...
so, we're looking at janus face, right?
January, Father Time, old face looking back young face forward.
Give us ze GOLD or ve chop off your chonson Lebowski!!
No, Donny, these men are nihilists, there's nothing to be afraid of.
So who leaves the Euro first?
I am going to start a gold shipping business.....seems like an opportunity to me....Chavez...Kadafi......Greece might have to ship some...and probably the US already has to China..
I find it funny that you can hope to have a common currency when there isn't even a common understanding of what currency is.
To the Germans, it is supposed to be hard, stable, a fiat equivalent of gold
To the south, it is something you just print more of to pay your debts and to get round the problem that most people find ways to evade their taxes...
Those Germans, always fooling around. Everyone knows it is just "tradition"...bitchez!
we also take pretzels and beer
Can we just ship the pretzel's to crawford? We could save on shipping and it might solve a legacy issue at the same time.
What ever happened to that Chavez/Venezuela gold physical delivery story?
They haven't secured Libya's gold yet. In the mean time they are currently planning a humanitarian invasion into Venezuela.
securing the 17 vessels necessary to ship the bars is the reported story.
what for? 99tons is just 5 qubic meters in volume..
the article mentioned pirates, theft etc ... guess they want to make any one potential loss not a catastrophe.
The germermans should worry about getting their gold back from the US before grabbing others.
Ja, he is right. Ze FED has ze Gold! Ve vant it back! Ve don't care. Give us ze gold, Bernanke, or ve fuck you up!
Looks like the PIIGS better brush up on their German
the beginning of the end is near for the euro. Lets see Germany is demanding gld as collateral from spain, italy, portugal et al. If i were those countries i would flip em the bird and go back to my own currency backed MY own gold
Until now Ursula has not appeared to be that bright.
I wonder who wrote that into her teleprompter.
She has an army of PR whores...
well that's one way to attempt to stop the flow of gold back to home countries.
And I was thinking they were going to ask for give-us-all-your-Spam.
Marc Faber his normal spiffy self this morning on CNBC
10 minute video
http://www.fundmymutualfund.com/2011/08/video-marc-faber-phone-interview...
Smart move. It's about time.
Then all those bailed-out countries default by choice.
Hey all, rather new to the FX game. Looking for a good free site to chart FX pairs? any recommendations? TIA
http://www.helsinkitimes.fi/htimes/domestic-news/politics/16407-greek-gu...
It seems that we have a chaotic return to a gold standard developing.
The guys at the Gold Anti Trust Action committee will be saying 'I told you so'.
Is Gold ripe for short line for 100 points drop?
New trades by Capital3x
http://capital3x.com/?p=180
This is a totally brilliant idea - now why the hell didn't the US demand gold as collateral for the trillions of our money it simply gave away to those same European banks and countries? Why should Germany own Europe? We really are the chumps of the world.
americanspirit,@10:03
We really are the chumps of the world.
You JUST now figuring that out?.( we sheeple are the chumps, our leader is following the NWO Script)
No, not really,we are following the Grand Plan..................Merkels gang do not get it yet.
German word for money is Geld.
Geld originates from the indogermanic Ghel, which literally means Gold.
Now they just all have to speak the same language.
Gentlemen I have been suggesting on our commentary pages at Great Lakes the strategy of Eurozone countries issuing Convertible Gold backed Bonds.
This would be a neat way of funding the periphery using Gold in the vaults and pricing it accoridngly at the current exagerated highs. (Far better than a Gordon Brown sale event). If Gold moves lower then interest instead of full conversion into Gold can take place.
It also gives the Central banks in the periphery states the trading option to buy on dips against their issued exposure.
That one guy in the Bond movies made bullets out of gold too.
"In that case Germany should keep an eye on Switzerland"
It's the opposite : Switzerland should keep an eye on Germany... and Swiss citizens should oil their weapons.
Vhat vill das Euro-peons zay?........I zink,Godverdomme juow Doucheland.
Greece's gold reserves are valued at about $7B based on current market pricing. What would posting that gold as collateral solve? Nothing. What would it accomplish? It would, in time, liquidate most of Greece's reserves. Time to default and cut your losses, Greece. Leave the euro, liquidate your debts, hang on to the assets.
The Germans wouldn't want to lose a debt serf so I would imagine they will push the Greeks are far as they can without driving them out. The creditor always prefers collateralized/secured debt versus unsecured debt so maybe EU can promise really nice terms and there wont need to be so many austerity changes so the sheeple will support the move...no one ever went broke underestimating the intelligence of the sheeple (to paraphrase H. L. Mencken)
Looks like the PM game is officially on!
Just for the fun of it this reminder http://tinyurl.com/3q4dpxs
So Belgium has leased out 41% of their gold reserves. supposedly that gold is sold, in the hope of buying it back later, otherwise the whole thing makes no sense. Now apply this precentage to Greece, and because they do everything shittier by at least 200%, open the vaults and take a peek inside.
It is not there. Yes the IOU's may be there (big maybe), but the rich man's silver is NOT there.
Then there is nothing for Greece to lose by collateralizing, is there? Only thing is, you get one deal done and pretty soon everyone wants collateral like that. People might start asking questions.
Germany is doing well here in India. All kinds of factories, Benz, BMW and their army of contractor/suppliers, Bosch..... and India is gobbling it up.
I think the 3rd/4th Reich is well enmeshed, entrenched and ready to announce itself.
Seige heil? ;-)
Vivek
http://aadivaahan.wordpress.com
To your reassurrance,since 2011 germany has abolished the draft and try to create a volunteer army.
But they have difficulties to find some.
They are looking for foreigners.
domestic foreigners, please. I am just imagining our army consisting of young men with south-eastern descent, styled eybrows, greasy hair and the most expensive mobile phones at their camouflage suits....
And to think there is no one around from certain Albanian or Bosnian cohorts, or memories of Gallipoli and Zanzibar...
Hahaha......Queen of the Reich by Queensryche just came on my media player......
Zensursula ... drunk again ... aw nevermind her not even the people in her own coalition do. She always has these kind of great ideas. None of her plans was ever put into action. I think it´s just a reaction to finnland demanding a collateral from ouzo country.
After the USA and Germany, Italy has more gold than anyone else.
http://www.telegraph.co.uk/finance/markets/8335336/The-countries-with-the-largest-gold-reserves.html
Selling her gold now italy can cut her debt by 20 % at once.
But I think it's better to wait so that the debt can be cut by 100 %.
Or wait until she can cut 100% of her debt and have enough gold left to STILL be number 3...
To a sovereign nation, Gold holdings are second most important component of viability (the first being a military that can defend your Gold from all comers)
Yeah they can do that without using one ounce of gold. I suggest they wait too.
Glass-Steagall (yes the Italians can do it too...anyone can do it)
Don't print for fraud
Don't tax for fraud
Don't cut for fraud
Sure and the hell don't trade your gold for fraud.
What is people's obsession with paying off fraud? That's all that is going on here. Paying off fraud. Some people want to do it one way, some another, some now even thinking of swapping gold for fraud. Why?
Glass-Steagall, Restructure, Default.
Glass-Steagall is the best way
Restructruing without glass-steagall is pretty stupid but can be done
Default is even stupider but it can be done
Paying it off with Gold is damnright dipshitty
Trying to continue the process as is thinking it will get better when the hooks really just deepen is downright batshit crazy.
Where are you on this scale? Where should we ALL be?
That's right.
Glass-Steagall
Funnily enough, another development showing how much impaired the projection made on this site were.
Suddenly, the Euro no longer appeared as a burden for Germany but a means to suck up foreign assets.
Prediction hold by many on this site was that Germany would leave first the Eurozone, was preparing to flee because the Euro was blood sucking them.
Best is of course, typically to US citizens, this major development has no impact on this site's residents views, they were right from the start, even when proven fundamentally wrong.
Yes, if that reminds you of WS, well, that is right, same behaviour as WS. Normal, most residents of this site and WS are US citizens.
In the Spiegel forum discussing the request, rumours are voiced that Greece bought physical AU with the first european bailout money. How would taxpayers react if that were to be confirmed? As she is the daughter of a former big chief of CDU (Albrecht), this "boutade" might be a move to make her (more) acceptable to the german public as a successor to Frau Merkel, kind of like "the sole voice of reason in a sea of lunacity".
the machines are trading gold for debt with a gun to the head of the former nation states
the bible says the Beast will control the tresuries of gold & silver (Daniel)