http://silverdoctors.blogspot.com.au/2012/02/greece-agrees-to-give-up-all-of-its.html Greece Agrees to Give Up All of its Gold to Obtain Latest Bailout The devil is in the details. In this case, the details require Greece to give up all 111 tonnes of its gold in exchange for the latest bailout. Which means that should Greece ever decide to do what they should have done in May 2010 and default on the banksters, they will now be SOL as far as international trade is concerned. As far as the banksters are concerned, Greece with its 111 tonnes of gold are merely a practice run for the main event: Portugal with 382.5 tonnes of gold, France with 2,435.4 tonnes of gold and Italy with 2,451.8 tonnes of gold. But down there in the small print of the Greek deal lies the nasty side for Greece. There lies a heavy penalty clause; Greece's lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal. Greece has 111 tonnes of gold. In other words Greece has given up on its "money in extremis", gold. If they default they will have nowhere else to go. Its international assets will be seized and it will not be able to trade internationally at all. Today we are watching both Iran and the Sudan use their gold to buy food for their country as they have nowhere else and nothing else to get it with. Under the terms of this new deal Greece has effectively forfeited that last resort. And if they wanted to pull a last card from the pack by insisting on a Greek jurisdiction for any final arbitration, they have forfeited that too, by agreeing that future bonds issued will be governed by English law and in Luxembourg courts, conditions more favorable to creditors. The option of leaving the Eurozone and surviving independently has now gone. If they do default [and many think the shrinking economy will force them down that road] they will have to accept whatever terms they can scrape together from the E.U. in order to survive! Greece is now a colony of the E.U. not a member!
Greek default is looking more likely by the hour. International ratings agency Fitch said this morning that a Greek debt default was "highly likely in the near term" despite the latest massive eurozone bailout.
When will the people wake up and realise the financial system is designed as a distraction mechanism, so the priviledged few continue to siphon away the gold leaving the masses to trade with fiat play money that has no intrinsic value and is only an imitation of gold and silver ... Greece is playing into their hands ..... NOSTRADAMUS: Century 8, Quatrain 28 The copies of gold & silver inflated, which after the theft were thrown into the lake at the discovery that all is exhausted & dissipated by debt. All scrips and bonds will be wiped out.
Disgusting So all a trick to get their gold. I would vaporise these evil men and their bloodlines in an instant if I had a button. [youtube]http://www.youtube.com/watch?v=8StM2X7W8io[/youtube]
No different for you & me. If we need money & borrow from the banks, & put down collateral, if we default, they take the collateral. It's the same thing with Greece, just on a bigger scale. Put it down to bad government, poor budgeting, & no worst case scenario planning. IMO Greece should have just defaulted & kept it's options on the table, not to mention 111 tonnes of gold. There will always be banks out there looking to make a buck no matter what, that won't change, people, countries etc just need to be more self sufficient & not end up in the banks pocket. You should have a positive financial net position so no bank "owns you". Didn't Greece host the olympics a few years ago? ..
i think that is being a bit simplistic No1joey 11/06/2011 Thomas Jefferson Warned The Nation To Beware The Power Of The Banks Before there was John Kenneth Galbraith or Joe Stiglitz or Nouriel Roubini, or Simon Johnson or Niall Ferguson or Occupy Wall Street there was one of the Founding Fathers, Thomas Jefferson giving an advance warning of 2008 some 200 years ago. An awesome foreboding it was, too. "I believe that banking institutions are more dangerous to our liberties than standing armies," Jefferson wrote. " If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around(these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." " The issuing power of currency shall be taken from the banks and restored to the people, to whom it properly belongs." We should all meditate on that amazing prediction of things to come that are not necessarily beneficial to the 99% but only to the 1%. http://www.forbes.com/sites/robertl...rned-the-nation-about-the-power-of-the-banks/
Enough to make you cry..... http://www.huffingtonpost.com/2010/03/02/greece-goldman-sachs-deal_n_482001.html
1 oz gold = AUD $1661 1000 g = 32.154 oz = AUD $53407.80 1000kg = AUD $53,407,800.00 111kg = AUD $5,928,265,134 = AUD $5.93 billion Now 1 Australian dollar = 0.803584877 Euro SO 111kg Gold = 4.76 billion Euro Not bad collateral or should I say consolation prize should the great Greek default happen anyways, for a bailout package designed just to cover interest on the Central bank loans (and sweet f--- all for the Greek people). And if its such a good deal, then why did the Troika feel the need to install a bank crony as the new Greek prime minister? "On November 3 last year, after publically mooting the idea for a few days, Greek centre-left Socialist prime minister Georgios Papandreou announced he would not go ahead with his planned referendum on the bailout. Forced to resign a week later, Papandreou was replaced by Lucas Papademos, former Governor of the Bank of Greece and vice president of the European Central Bank, who now leads a new 'National Unity' coalition that not only includes the two major parties but also the far-right Popular Orthodox Rally. These replacements of both prime minister and government all occurred without an election."
Forget the euro .... forget the amero ...... introducing the new one world currency ... the mono ......
end game if I was a country @ this point in time is to rack up as much fiat debt as possible pouring it all into infrastructure and gold and then default... mmm good job china
For those that have eyes it was clear from the start that G is the main target. Iraq, Libya, now Greece, Portugal and Spain. Someone is in a hurry...
Wow, if the above is true and they are discussing 'taking' 111 ( all ) tonnes of their gold and than maybe do the same to those next in line ( Portugal, etc ) this will herald the birth of a new factor ( which is very bullish for gold ) in the price of Gold. It is now in the open and it seems that Greece will be the first to let go of their gold How pitiful!
