Waking up this morning and looking at the gold and silver prices, one thing just kept going through my head. That scene in the movie Snatch when the two guys try and take the bookies and the lady behind the counter says: ALL. BETS. ARE. OFF.
If nations are being forced to sell their gold for EU bailout $$, I can only imagine the price will go lower. May as well send Chumlee to write those tonnes up.
I think CBs will not sell gold on market to pay debts but will pay with gold ... meaning gold will not find its way to the market and will flow directly to the creditors
Like the IMF selling 200T of gold into the "market" in 2009. It didn't hit the market and was only available for sovereign purchase. India purchased it if you recall and it had zero effect on the spot price beyond the MOPE preceding the sale. As if the ECB will sell gold into the market! They're trying to take it out of the hands of the population not sell it to them. That gold will be going straight to their own vaults to capitalise the central planning, statists from the EU so they have some form of independent legitimacy above and beyond the member states. Just how much harder is it going to be for a country to leave the EU if the ECB has all their gold? And as for selling the Cypriot gold into the Market, the ECB may as wekk just transfer it directly to communist politburo in Beijing, because that is where it will end up if they tried to sell it.
