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If gold is worthless and pointless....

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    If gold is worthless and pointless....

    ...as the central bankers and economists keep telling us...why has the EU central bank seized all of the Cypriot gold?

    EMU plot curdles as creditors seize Cyprus gold reserves – Telegraph Blogs


    #2
    Particularly like this bit here:

    Portugal holds 382 tonnes of gold, the 14th largest holding in the world, and more than either Britain or Spain. For the sake of delicacy, I will skip over the methods by which Salazar acquired that gold.

    So will the Troika order Portugal to hand over these reserves if the country requires a second bail-out, as deemed likely by a great number of analysts in the City?
    So PIIGS country holds enough gold to pay off some if not all of their debt and they're going down the bailout route instead?

    So they'd rather do the bailout thing than sell off their gold reserves..... WTF?

    How about any nation requiring a bailout sell their gold to pay off their debts first?!
    "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

    Comment


      #3
      Originally posted by DimPrawn View Post
      ...as the central bankers and economists keep telling us...why has the EU central bank seized all of the Cypriot gold?
      Because it is pretty and shiny?
      Down with racism. Long live miscegenation!

      Comment


        #4
        Originally posted by DimPrawn View Post
        ...as the central bankers and economists keep telling us...why has the EU central bank seized all of the Cypriot gold?

        EMU plot curdles as creditors seize Cyprus gold reserves – Telegraph Blogs

        It will be worthless and pointless if this becomes the standard approach. If Italy, Portugal etc are forced to sell their gold the price will drop like a stone.
        "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

        Comment


          #5
          Originally posted by DaveB View Post
          It will be worthless and pointless if this becomes the standard approach. If Italy, Portugal etc are forced to sell their gold the price will drop like a stone.
          Best they do it fast then!
          "He's actually ripped" - Jared Padalecki

          https://youtu.be/l-PUnsCL590?list=PL...dNeCyi9a&t=615

          Comment


            #6
            Best ask Gordon on how to sell gold at the historical bottom of the market.

            Comment


              #7
              Originally posted by DimPrawn View Post
              Best ask Gordon on how to sell gold at the historical bottom of the market.
              Yes, please ask the former Prime Mentalist also to do a nice lecture on "The Effects of Removing the Dividend Tax Credit on Pensions" and "Why Ignoring Financial Advice is the Right Thing To Do" while you're at it...

              Are we taxpayers still paying for that freak to stay away from Westminster?
              If you think my attitude stinks, you should smell my fingers.

              Comment


                #8
                Its the government equivalent of going bankrupt and saying 'well, my car is really nice so I won't tell them about it'. Gold needs to be repossessed and sold to pay debts.

                Comment


                  #9
                  The price won’t change, Israel, Iran, China and Russia are buying up gold like there is no tomorrow for paper money
                  "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

                  Comment


                    #10
                    Blackadder: "Baldrick, have you no idea what irony is?"

                    Baldrick: "Yes, it's like goldy and bronzy only it's made out of iron."
                    If you think my attitude stinks, you should smell my fingers.

                    Comment

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