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EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer

 
insertfunnyusername
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05/30/2012 10:32 AM
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EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Interesting articles about this European Redemption Pact that the German state designed. The PIIGS will have to give their gold reserves to have access to the eurobonds.

[link to alternativeeconomics.wordpress.com]

[link to www.telegraph.co.uk]

Well when the shit hits the fan and it will, everyone is going to run to gold. With a potential 3000 tonnes between Spain, Italy and Portugal alone, maybe this latest scheme from Germany is an attempt to exploit vulnerable eurozone countries to get its hands on their gold reserves while they are over a barrel. Either way, its an old plan that has been revived as the eurozone crisis has deepened.

The German scheme — known as the European Redemption Pact — offers a form of “Eurobonds Lite” that can be squared with the German constitution and breaks the political logjam. It is a highly creative way out of the debt crisis, but is not a soft option for Italy, Spain, Portugal, and other states in trouble.

The plan is drafted by the German Council of Economic Experts and inspired by Alexander Hamilton’s Sinking Fund in the United States — created in 1790 to clean up the morass of debts left by the Revolutionary War. Flourishing Virginia was comparable to Germany today.

Chancellor Angela Merkel shot down the proposals last November as “completely impossible”, but Europe’s crisis has since festered, and her Christian Democrat party has since suffered crushing defeats in regional elections.

….

The plan splits the public debts of EMU states. Anything up to the Maastricht limit of 60pc of GDP would remain sovereign. Anything over 60pc would be transfered gradually into the redemption fund. This would be covered by joint bonds.

Italy would switch €958bn, Germany €578bn, France €498bn, and so forth. The total was €2.326 trillion as of November but is rising fast as Europe’s slump corrupts debt dynamics. The sinking fund would slowly retire debt over twenty years, using designated tithes akin to Germany’s “Solidarity Surcharge”.

In effect, Germany would share its credit card to slash debt costs for Italy, Spain and others. Yet it is the exact opposition of fiscal union. While eurobonds are a federalising catalyst, the fund would be temporary and self-extinguishing. “The fund is a return to the discipline of Maastricht with sovereign control over budgets,” said Dr Benjamin Weigert, the Council of Experts’s general-secretary.

The solution gets around the German Constitutional ruling last year.

The ingenious design gets around the German constitutional court, which ruled in September that the budgetary powers of the Bundestag cannot be alienated to any EU body under the Basic Law — the founding text of Germany’s vibrant post-War democracy.

And what’s the sting in the tail????

Germany would have a lockhold over the fund, able to enforce discipline. Each state would have to pledge 20pc of their debt as collateral. “The assets could be taken from the country’s currency and gold reserves. The collateral nominated would only be used in the event that a country does not meet its payment obligations,” said the proposal.

There you have it, no free lunch, so much for european solidarity if true and the potential for Germany to get its hands on 3,000 tonnes of gold.

Germany would have a lockhold over the fund, able to enforce discipline. Each state would have to pledge 20pc of their debt as collateral. “The assets could be taken from the country’s currency and gold reserves. The collateral nominated would only be used in the event that a country does not meet its payment obligations,” said the proposal.

This demand could enflame opinion in Italy and Portugal. Both states have kept their bullion, resisting the rush to sell by Britain and others. Italy has 2,451 tonnes of gold, valued at €98bn in March.

Alessandro di Carpegna Brivio, a gold expert at Camperio Sim in Milan, said Italy should treat such proposals with care. “Everything being done at a European level is in the interests of Germany and France, to save their banks. It is not in the interest of Italy,” he said.

“We should use our gold to take care of our own debt, collateralizing bonds above 100pc of GDP. That would be a far more targeted approach,” he said.

ZeroHedge had a very interesting viewpoint, which backs up the importance of gold, despite the PTB claiming gold is unimportant in this global financial system.

But why Gold? Why not spam. After all gold is selling off, spam is stable, and the dollar is soaring. Couldn’t Germany merely demand that broke countries simply pledge all their USD reserves, and keep their worthless, stinking yellow metal?

Apparently not.

Last Edited by insertfunnyusername on 06/13/2012 09:07 AM
Anonymous Coward
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05/30/2012 10:35 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
what gold?
Anonymous Coward
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05/30/2012 10:42 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Interesting articles about this European Redemption Pact that the German state designed. The PIIGS will have to give their gold reserves to have access to the eurobonds.

[link to alternativeeconomics.wordpress.com]

[link to www.telegraph.co.uk]
 Quoting: insertfunnyusername


tell them not to waste there gold!
insertfunnyusername  (OP)

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05/30/2012 10:48 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
what gold?
 Quoting: Anonymous Coward 16945338


rofl got a point there mate, i can give you that.
insertfunnyusername  (OP)

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05/30/2012 11:00 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Interesting articles about this European Redemption Pact that the German state designed. The PIIGS will have to give their gold reserves to have access to the eurobonds.

[link to alternativeeconomics.wordpress.com]

[link to www.telegraph.co.uk]
 Quoting: insertfunnyusername


tell them not to waste there gold!
 Quoting: Anonymous Coward 4619492


I hope they are not that stupid to waste it for eurobonds. Have a feeling this whole euro-crisis will not end that well.
Anonymous Coward
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05/30/2012 11:01 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Interesting articles about this European Redemption Pact that the German state designed. The PIIGS will have to give their gold reserves to have access to the eurobonds.

[link to alternativeeconomics.wordpress.com]

[link to www.telegraph.co.uk]
 Quoting: insertfunnyusername


tell them not to waste there gold!
 Quoting: Anonymous Coward 4619492


I hope they are not that stupid to waste it for eurobonds. Have a feeling this whole euro-crisis will not end that well.
 Quoting: insertfunnyusername


for real, will take the whole western world with it.
•••Weltschmerz•••

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05/30/2012 11:08 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
The german goverment is evil and the citizens are close minded. Perfect combination for the NWO agenda.
insertfunnyusername  (OP)

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05/30/2012 11:11 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Interesting articles about this European Redemption Pact that the German state designed. The PIIGS will have to give their gold reserves to have access to the eurobonds.

[link to alternativeeconomics.wordpress.com]

[link to www.telegraph.co.uk]
 Quoting: insertfunnyusername


tell them not to waste there gold!
 Quoting: Anonymous Coward 4619492


I hope they are not that stupid to waste it for eurobonds. Have a feeling this whole euro-crisis will not end that well.
 Quoting: insertfunnyusername


for real, will take the whole western world with it.
 Quoting: Anonymous Coward 4619492


I think that TPTB know this very well. They ve been preparing this for years. I don't think they leave anything to luck. It's the ordinary people around the world that should prepare for this likely outcome because they will suffer the consequences far more.
Anonymous Coward
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05/30/2012 11:15 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Nazi's seem to have won, The good thing is we can again kick their Ass
insertfunnyusername  (OP)

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05/30/2012 11:15 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
The german goverment is evil and the citizens are close minded. Perfect combination for the NWO agenda.
 Quoting: •••Weltschmerz•••


Interesting point of view that my friend. Care to expand it a bit more? I have some awaken German friends and they are good lads. The hate provoking propaganda is huge though in some German media and i think that this brainwashes a big part of the population.
insertfunnyusername  (OP)

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05/30/2012 11:21 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Nazi's seem to have won, The good thing is we can again kick their Ass
 Quoting: Anonymous Coward 16946115


I really hope we won't go that far. Let's break this stupid Eurozone and everyone can go back to their own shite.
Anonymous Coward
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05/30/2012 11:23 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
I knew it was a matter of time before they tried to get their Gold reserves.
Anonymous Coward
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05/30/2012 11:31 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
The german goverment is evil and the citizens are close minded. Perfect combination for the NWO agenda.
 Quoting: •••Weltschmerz•••


clappa

no way we'll give our bullions for such a bs

Interestin interview
Not all german politicians are that blind btw
Thread: Fisher former foreign minister "Germany on the verge of causin eu destruction for third time"
Anonymous Coward
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05/30/2012 11:34 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
the conspiracy theorist in me says, its a zio scheme. Get as much gold in one place (germany) and then braing down its economy so they can clean it all up in one go :D
insertfunnyusername  (OP)

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05/30/2012 11:45 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
I knew it was a matter of time before they tried to get their Gold reserves.
 Quoting: Anonymous Coward 1490682


I am not so sure that every country will agree with this shit. Although i imagine that the puppet Greek politicians will be like 'Sure Germany you can have our gold, no use for us this gold thing, eurobonds sounds great, such a solidarity thing to do'
insertfunnyusername  (OP)

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05/30/2012 11:49 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
The german goverment is evil and the citizens are close minded. Perfect combination for the NWO agenda.
 Quoting: •••Weltschmerz•••


clappa

no way we'll give our bullions for such a bs

Interestin interview
Not all german politicians are that blind btw
Thread: Fisher former foreign minister "Germany on the verge of causin eu destruction for third time"
 Quoting: Anonymous Coward 16931324


Interesting read that indeed.
insertfunnyusername  (OP)

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05/30/2012 12:40 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
bump for this great idealolsign
insertfunnyusername  (OP)

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05/30/2012 02:27 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Here you can download the official FAQ for this Redemption Pact from the German Council of Economic Experts for a further read of this magnificent plan.




[link to www.google.gr]
Anonymous Coward
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05/30/2012 02:59 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
The german goverment is evil and the citizens are close minded. Perfect combination for the NWO agenda.
 Quoting: •••Weltschmerz•••


clappa

no way we'll give our bullions for such a bs

Interestin interview
Not all german politicians are that blind btw
Thread: Fisher former foreign minister "Germany on the verge of causin eu destruction for third time"
 Quoting: Anonymous Coward 16931324


You deserve your misery.
Anonymous Coward
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05/30/2012 03:19 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
IF this is really true, then I only have three questions.
1. They did it in WW II. Our goverment IS a puppet and propably will say yes without informing us (assuming that there is some gold). Are ALL the goverments puppets?
2. They've tried to take over the world two times and they didn't succeed. What makes them think that this time they will make it?
3. Is there a guy (husbant, boyfriend etc) that really fucks Merkel? Cause that bitch really looks like there isn't and she is desperate.
insertfunnyusername  (OP)

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05/30/2012 04:35 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
IF this is really true, then I only have three questions.
1. They did it in WW II. Our goverment IS a puppet and propably will say yes without informing us (assuming that there is some gold). Are ALL the goverments puppets?
2. They've tried to take over the world two times and they didn't succeed. What makes them think that this time they will make it?
3. Is there a guy (husbant, boyfriend etc) that really fucks Merkel? Cause that bitch really looks like there isn't and she is desperate.
 Quoting: Anonymous Coward 16781201


Kalispera. This thing is true. Remains to be seen who will accept it. Greek politicians are puppets and will accept it if a pro-bailout govt is formed. Italian PM is a puppet also. Not sure about the Spanish and Portuguese though.
Merkel's husband is this lad over here: [link to en.wikipedia.org]
So the chances are that the Chancellor is getting some.lolsign
insertfunnyusername  (OP)

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05/30/2012 05:27 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
bump for your gold PIIGS!!!
insertfunnyusername  (OP)

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Greece
05/31/2012 12:02 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Further reads and opinions on this issue:

[link to www.resourceinvestor.com]

[link to www.businessinsider.com]
insertfunnyusername  (OP)

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Greece
06/10/2012 04:29 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Mr. Schäuble now asking for further fiscal and political union within the EU. Seems that the United States of Europe or the Roman Holy Empire is about to take place. Am i the only one that finds suspicious that this EU crisis started immediately since the Lisbon Treaty entered into force at the end of 2009?


Schäuble is considered to be one of the most pro-European members of Merkel's cabinet. He used his acceptance speech to give new impetus to a debate on strengthening the EU and a swift review of the EU treaties. “We’ve got to create a political union now. We need strong European institutions,“ he said.

He argued that Europeans should be able to directly elect the president of the Commission. “The political unity in Europe needs a face,” Schäuble said. “At the next European parliamentary elections the parties could enter a top candidate that in the event of an electoral victory could then be accepted by the leaders of the national governments as the Commission president.”


[link to www.euractiv.com]

Last Edited by insertfunnyusername on 06/10/2012 04:29 PM
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06/10/2012 04:33 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Why not ?

No credit without securities.
insertfunnyusername  (OP)

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Greece
06/10/2012 04:40 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Why not ?

No credit without securities.
 Quoting: Anonymous Coward 331367


Because not all people of Europe want to be part of the United States of Europe dictated by Brussels and Germany. It has nothing to do with credit. It's the perfect globalization tool and they are using it as we speak. NWO at its finest.

Last Edited by insertfunnyusername on 06/10/2012 04:42 PM
Ziggy
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06/10/2012 05:50 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
I was thinking if everyone went to the gold standard or paied their debt dow with their gold it may make a difference. As you will see below for each nation to put themselves in the "black" with gold appeares to be impossible. Should the PIGS fail (Spain, Portugal, Greece, Italy) fail or anyone of them fail it looks like it will be a train wreck of epic proportions. If one of these nations fail like Italy after Spain that will be a death blow to the Euro and SWHTF! Interesting.....what to do?


HOW MUCH IS SPAINS 3000 TONS OF GOLD WORTH?
About 16 troy ounces per pound.
2000 lbs in a ton.
32000 ounces in a ton.
3000 tons X 32000 ounces = 96000000 (ounces in 3000 tons)
About $1800.00 per troy ounce
$1800 X 96,000,000 = $172,800,000,000

Spanish National Debt:
c $716,123,000,000 BILLION
15751 PER PERSON

KEY GLOBAL NATIONS AND THEIR NATIONAL DEBT:
ITALY
c 1940450458157 (TRILLION)
15571 PER PERSON
PORTUGUAL
c 153712000000 (BILLION)
14449 PER PERSON
GREECE
c 351696000000 (BILLION)
31197 PER PERSON
IRELAND
c 123345000000 (BILLION)
26923 PER PERSON
NETHERLANDS
c 373363000000 (BILLION)
22522 PER PERSON
JAPAN
y 980247128357 (TRILLION)
7695000 PER PERSON
AUSTRALIA
au 183004000000 (BILLION)
8177 PER PERSON
NEW ZELAND
nz 56000000000(BILLION)
12726 PER PERSON
SWEDEN
sek 1254000000000 (TRILLION)
134316 PER PERSON
GERMANY
c 2000000000000 (TRILLION)
24445 PER PERSON
FRANCE
c 1750000000000 (TRILLION)
27046 PER PERSON
ENGLAND
ep 1750000000000 (TRILLION)
19950 PER PERSON
CANADA
c 642000000000 (BILLION)
18880 PER PERSON
UNITED STATES
usd 15709828353174 (TRILLION)
50221 PER PERSON

Now this is a challange!

Have a great day.

Be well.

Z

1dpanic
insertfunnyusername  (OP)

User ID: 8780290
Greece
06/10/2012 07:29 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
I was thinking if everyone went to the gold standard or paied their debt dow with their gold it may make a difference. As you will see below for each nation to put themselves in the "black" with gold appeares to be impossible. Should the PIGS fail (Spain, Portugal, Greece, Italy) fail or anyone of them fail it looks like it will be a train wreck of epic proportions. If one of these nations fail like Italy after Spain that will be a death blow to the Euro and SWHTF! Interesting.....what to do?


HOW MUCH IS SPAINS 3000 TONS OF GOLD WORTH?
About 16 troy ounces per pound.
2000 lbs in a ton.
32000 ounces in a ton.
3000 tons X 32000 ounces = 96000000 (ounces in 3000 tons)
About $1800.00 per troy ounce
$1800 X 96,000,000 = $172,800,000,000

Spanish National Debt:
c $716,123,000,000 BILLION
15751 PER PERSON

KEY GLOBAL NATIONS AND THEIR NATIONAL DEBT:
ITALY
c 1940450458157 (TRILLION)
15571 PER PERSON
PORTUGUAL
c 153712000000 (BILLION)
14449 PER PERSON
GREECE
c 351696000000 (BILLION)
31197 PER PERSON
IRELAND
c 123345000000 (BILLION)
26923 PER PERSON
NETHERLANDS
c 373363000000 (BILLION)
22522 PER PERSON
JAPAN
y 980247128357 (TRILLION)
7695000 PER PERSON
AUSTRALIA
au 183004000000 (BILLION)
8177 PER PERSON
NEW ZELAND
nz 56000000000(BILLION)
12726 PER PERSON
SWEDEN
sek 1254000000000 (TRILLION)
134316 PER PERSON
GERMANY
c 2000000000000 (TRILLION)
24445 PER PERSON
FRANCE
c 1750000000000 (TRILLION)
27046 PER PERSON
ENGLAND
ep 1750000000000 (TRILLION)
19950 PER PERSON
CANADA
c 642000000000 (BILLION)
18880 PER PERSON
UNITED STATES
usd 15709828353174 (TRILLION)
50221 PER PERSON

Now this is a challange!

Have a great day.

Be well.

Z

1dpanic
 Quoting: Ziggy 1000901



Interesting Ziggy. Thank you for your contribution. It seems to me that the most possible desire of TPTB is to go to a totally digital currency than gold. They ll keep the gold for themselves. I'm pretty sure that we will have a gold bursting bubble in the not so far near future after this crisis.
insertfunnyusername  (OP)

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Greece
06/13/2012 09:12 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
One step closer to the further unification of Europe. Eurocrats are taking advantage of the current situation that they probably created themselves to announce their plans for a bank unification of the 27 EU states as soon as next year.


“I think now we have conditions to go further that, frankly, we did not have before,” he said. “There is now a much clearer awareness among European member states about the need to go further in terms of integration, especially in the euro area. This is one of the lessons of the crisis.”



Barroso pushes EU banking union

[link to www.ft.com]


Thread for a further chat here: Thread: Europe: Barroso pushes EU banking union!

Last Edited by insertfunnyusername on 06/14/2012 12:17 PM
insertfunnyusername  (OP)

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Greece
06/16/2012 08:34 PM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
I would like to share a prophetical article from telegraph from August 2007 where the author talks about the role of the Fed and the ECB.

In contrast, the EU quite deliberately created the most dangerous credit bubble of all: EMU. And, whereas the mission of the Fed is to avoid a financial crisis, the mission of the ECB is to provoke one

Linkie here: [link to www.telegraph.co.uk]
insertfunnyusername  (OP)

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Greece
06/21/2012 07:06 AM
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Re: EU Debt Crisis - Germany's European Redemption Pact: Give us your gold for Eurobonds!!! United States of Europe one step closer
Seems that everything goes as planned for the Eurocrats.

Exclusive: Secret EU summit document shows first step to banking union

A classified draft of next week’s EU summit conclusions is the first step on an emerging “roadmap” to a banking union, pooling debt via eurobonds and political union via EU treaty change over the next 10 years.


[link to www.telegraph.co.uk]





GLP