Germany Has A Generous Proposal To The Broke PIIGS: "Cash For Gold" http://www.zerohedge.com/news/germany-has-generous-proposal-broke-piigs-cash-gold Is greece going to leave the Euro? NO! Not until it has no gold left, masterful plan Euro paper for real money? Will greece leave the Euro after that? No! after that the will be slaves and the screws will start to turn. There you go ppls, to all out there who thought the EU was a failure? Or that it is about to collapse? You end goal is confused. Its the biggest rape and pillage via peace ever! A plan so cunning you could put a tail on it and call it a weasel! Can't help being impressed, it's evil! BUT it's pure genius. I've said it over and over, the EU/Euro is an agenda not a fiscal union/Shared currency!
If so why do so many see Greece leaving the EURO? The idea of a Euro collapse is ridiculous! Maybe once all the gold is gone (consolidated) they will pack up shop, but at the moment they're onto a good thing and I cannot see the letting it go.
What's all the idignation about, they (the Greeks) have gross government debt of approx. Euro350 Billion total foreign debt is as at the end of 2011 - it's hard to get an accurate number (gross external debt is approx Euro583 Billion as at the end of June 2011), rising daily on interest payments and further borrowings, a budget deficit of some Euro 19 Billion per annum, negative growth and a shitty outlook. Yep, they have 111 tonnes of gold. If they sell that, which represents 81.5% of their total foreign reserves, they get roughly Euro4.4 Billion (based on a Euro 1,245 per ounce). To put it another way, on Euro 350 Billion of debt, at 6% it works out to Euro 21 Billion per annum in interest payments alone, so all their gold pays for 2 and a half months of Interest to its lenders. If you were lending the money, wouldn't you want to control what they were doing with their liquid reserves. The Greek Government lied for years about what was going on, what would stop them just liquidating the gold for short term appeasement of their people and then turning around to the world and saying poor us, please help us out with more cash. The numbers are huge, Greece's options are not.
thatguy, context buddy I was responding to 'masterful plan' (i.e. extorting nations for resources - gold and silver).
To Put it another way 350billion = intrinsic value 0, 111 tonnes of gold = intrinsic value? Best ask Mario Draghi that question, I suspect he values it at more then 350billion. The truth is gold is worth more then gold is worth! Think i'm wrong? Try selling oil for gold! Chinese demand: 9.9 million barrels per day by $90USD/barrel = $0.9billion per day = 5800 forward contracts (100oz/gold) p/d So Iranians have the oil but little gold and don't want USD, Chinese want the oil, have USD (they want rid of) and gold they want to keep. Solution: Use USD for make forward contract for 580000oz gold and stand for delivery, give the Iranians gold, get the Iranians oil and give the bullion exchanges the USD So Iranians have less oil and more gold, Chinese have more oil and less USD (still same amount of gold) and the exchanges have more USD and less gold Now I do not know how much gold these bullion banks have, but I suspect @ 5800 forward contract being delivered per day it would be 0 zippo inventory in no time So is 1oz of gold worth only 17 barrels of oil? NO! it is worth far more then that. I know that, the US knows that, Iran knows that, china knows that and if you know that you will understand world events a lot better.
By what you have said somebody doesn't know it. If China thinks it's OK to sell USD to buy forward Gold - they have sold US$ to give the Iranians Gold what they want. That's Ok for them. If the investment bank accepts USD to deliver Gold - they must be happy. So that's OK for them. If Iran wants gold for it's oil - they must be happy as well. So that's Ok for them. What's wrong here - your concept of forward selling! Oil Trading is pretty much done on a spot basis, IE 2 day settlement. That is the deal is done and the payment is made 2 days later. Do you really think that 18 tonnes of physical gold is moved daily to facilitate the daily oil purchases of China from Iran? The markets are still working - if they fail - well then the world will be a different place. At the moment, try selling bulk gold (Tonnes) at anything other than the spot prices. Do you really think that anybody believes that 111 Tonnes of Physical gold is worth more than Euro350 Billion right now? If so, don't buy precious metals buy guns and canned food and fortify your bunker - your gunna need it!
Do you know what a Petro dollar is? look it up But hey i'll pass along to Hillary that there is nothing to worry about with Iran trying to sell oil for gold China has enough gold to cover and wait for the forward order to mature in the end it is the same amount of gold. The big BUT is can the bullion exchanges deliver in the future? Maybe not No but Iran would be happy if it did Try buying bulk gold at spot price, shipping gold due to it's density is extremely easy. Euro350 Billion? How much would it cost the ECB to print 350billion Euro? A = nothing, a few kWhs. How much is 111 tonnes of gold worth? Enough to go to war for that's how much
Well said thatguy. Here is a conspiracy for you all: After the two world wars Germany is broke and all it's gold gone in reparations. It's got the horrors of Weimar germany clear in the back of its brain and never wants to go back there. It wants a 100% backed gold currency but it can't because it has reparations to pay and no gold to back it up with. They make a plan to play the US/UK game for as long as it takes. It knows that it's people are more efficient and productive and will win the race eventually. It begins accumulating gold slowly and then supports an idea for the Euro where currency can be printed at will and it's socialist neighbors will spend far beyond its means. Before the euro collapses it manages to wrangle the last of the gold from Greece, Italy, Spain, and Portugal (fronted as an effort to save it). When all the dust settles it has 6600 tonnes of gold and is not frowned upon because they haven't defaulted on anyone and have been paper defaulted on themselves they are the "victims". Bang we have a Scott free way of creating a new currency the Merklemark - full backed by $6600 tonnes of gold and instantly becomes the world reserve currency. Crazy? Probably but Germany will be in the position to pull it off very soon.
Well thatguy, seems that you are reader of fofoa blog and you are another follower of Another's thoughts interesting Lovey80 - im putting it down to on my signature, epic.
Haha, 'contingency'... 'preparing'... Just because you build a bomb-shelter doesn't mean you will get bombed. As far as I'm concerned, anything that is said about the Euro by those across the English Channel is a bunch of bulldust. All they ever do is point the finger at other people.
When they say, "everything is fine we do not need contingency plans" Panic! Bunch of monkeys could prepare to eat a banana let alone handle a currency crash
What's Iran doing with Turkish gold? http://www.silverbearcafe.com/private/07.12/turkishgold.html Iran should get a SS login cause they're stacking hard. This gold for oil thing is going to have to be quashed as it is a threat to the "petrodollar". Maybe the US will just back down and BAU?
Screw the weapons and tinned food I'm investing in some scuba gear,this sounds like a whole lot of boating accidents coming up.
