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So this is how the banks are going to take our gold this time, BLACKMAIL!!!

 
Anonymous Coward
User ID: 4682207
United States
11/06/2011 09:42 AM
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So this is how the banks are going to take our gold this time, BLACKMAIL!!!
[link to www.zerohedge.com]

"There are three observations to be made here: i) when it comes to rescuing insolvent countries, Germany is delighted to sacrifice euros at the altar of the 50-some year old PIIGS retirement age; ask for its gold however, and things get ugly; ii) the Eurozone, the ECB and the EFSF are dead broke, insolvent and/or have zero credibility in the capital markets, and they know it and iii) due to the joint and several nature of the ECB's capital calls, while Germany may have had enough leverage to tell G-20 to shove it, the next countries in line, especially those which are already insolvent and will rely on the EFSF for their existence once the ECB's SMP program is finished, may not be that lucky, and in exchange for remaining in the eurozone, the forfeit could well be their gold."

You want to be saved? Give us your gold for exchange of worthless monopoly money gwdance
Anonymous Coward (OP)
User ID: 4682207
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11/06/2011 09:48 AM
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Re: So this is how the banks are going to take our gold this time, BLACKMAIL!!!
Only the biggest countries would be left standing, and all the smaller countries would "have to" take the offer ;)

These Illuminati scum sure are clever

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