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!
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32 comments:
.....bled dry. Insanity.
Libya Greece syria Iran the beat goes on.
I'm seven days from my next paycheck. I have 11.94 in my checking. I will eat ramen noodles 3x a day before I sell my phyzz
SonOfSam
high treason
Oh MY GOD.....Greece is over. Who is the next?Portugal?
This was no surprise. This gold comes to about $7 billion, half of the March 20 tranche of cash that Greece has sold it sole for.
And yes, Italy, Spain, Portugal and any other country needing a bailout will have to release their gold. In each cash, even in the mego tons of gold, it is only a small down payment for the multi trillion dollars of debts that will need to be dealt with.
Italy with its $2.6 trillion in debt, $300 billion that needs to be refinanced, has about $160 billion in gold. Once again, a meager down payment on the refi, not the principal
This bodes badly for all these countries in that their debts will consume them. They throw their national fortunes in the dragon's mouth and it's little more than an appetizer
What lucky stiff is going to get about 6,000 tons of gold from this.
Any guesses?
Germany, Rothchilds, JPM, ECB, ESM?
Someone is going to get luck and the PIIGS will get made into sausage.
The 4th Reich !! Ever wonder why the ECB was placed in Germany ? The third Reich tried to concur Europe by force., and lost. This time they are using finance. By the time the rest of Europe figures it out, they will have taken over most of Europe again.
If you live in a country that is highly in debt then don't worry it's just a matter! Greece is just a trial run to make sure the takeovers are fine tuned.
What's really amazing is that the sheeple in Greece are just going to watch their country be ground into the dirt. When you have nothing, you have nothing to lose.
People of Greece: Storm the castle and lynch Papademos, throw the banksters out on their collective asses and give the ECB the big middle finger like Iceland did. What have you got to loose? You're going to starve anyway. It is better to go out in defiance than to become a slave.
This is why you as an individual must have as much silver and gold as possible. The so called head or leader of Greece is a Goldman Sachs plant. The people have no say in what happens. It was prearranged from the start. BUT you as an individual can take care of yourself if you preplan and accumulate. This is the only way to protect yourself- your hard earned wealth and your family. Silver and gold are your only economic salvation.
Easy answer AGXIIK the Rothchilds.. They own all the banks around the world..Along with everything else.. sierra_hpbt is spot on btw.
SilverSpiff
Austerity is the other name of gold confiscation.
It amazes me that in the dozens of PM sites I try to visit weekly, I never seem to run into any comments from Greek citizens. I'd love to hear from some well informed Greeks on the ground.
Such a beautiful place......what a shame. I suppose we'll all be Greece before too long.
Anon 3:05
Here's what I know
repost
My wife has several close friends living in and around Athens and a few other places in greece. They recently told us that, Several of them who have jobs in various fields( civil servants, hotel staff, engineers, labourers, mechanics) have not been paid for several weeks to several months. They are obliged to continue going to work every day, because if they quit or rebel against their employers, they will simply NOT be paid the monies they are owed. Their employers can't even tell them WHEN they will be paid.
Most of these people have banned together or are seeking help from family or friends. They are selling possesions to purchase food. There is alot of theft going on because alot of people don't know what else to do to feed themselves and their families. Apparently the feeling is that the greek gov't doesn't want to hear or even give the impression that they care what the greek people have to say about the bailouts or their future. They are genuinely scared of the mobs and the destruction that they believe is coming. I have met some of these people in the past and they are Just like you and me. Regular people just trying to survive the chaos.
Crazy Canuck
We all need to remember. Greece is NOTHING compared to The USA....and by association, Canada and Mexico.
Now clear your head and ask yourself....When the contagion makes it to this side of the pond, and it WILL, What will I do if my livelyhood disappears? Will I have the courage to stand up and fight the police and goverment? Will I defy the powers that be, even if it means indefinite incarceration or worse? Will I defend what's mine? Will I deny my friends and neighbors food, fuel and other neccessities because they did not prepare as I did? Will I steal the same from my friends and neighbors to care for my family? Will I have what it takes mentally to endure from day to day while those around me falter. Will I have the compassion to help those who are in need,at my own expense?
I ask myself these questions often. It takes a certain kind of person to survive!
What's happening in greece is sad, but does it really matter?
Get ready!!
Crazy Canuck
"If they do default, they will have to accept whatever terms they can". Crap!!!!!!!!!!!!! They have defaulted. A horse by any other name is still a horse. Regardless what the IMF, ECB or anyone else tells you, it's a default. I can tell you Moody's, S&P, etc. will downgrade them even if the BAMA says it's not a default.
They can't pay their bills, they're giving up their gold, the people are starving and this is just a haircut?
So the world just accepts the crap as the domination goes to fast forward.
Time to practice those skills you've all been working so hard on (Power outages, medical emergencies, home defense,etc). A plan is only as good as its execution and excellent execution is not possible without practice.
Anyway, I glad to see the wool has not been pulled over the eyes of the majority of people on this site. I learn more here everyday.
Stack on and hang on,
2 OZ.
I was wondering when that will happen.... Next is its Islands..
Agreed ANON 6:11. First the credit, then the people, then the gold, the all properties, then the people themselves. Papadumbass will have to flee the country for selling out his people all in the name of some fist piece of crap pocket lettuce. A downgrade may come any day now. I suspect the Greeks downgrades will happen long before summer.
2 OZ.
Rothchilds get the gold?
Uhuh. Figures.
One of those leeches owns the PAGE and that's Chinese gold. Rothchilds expropriate the gold, sell it to China and it disappears from their vaults back to Ville Rothchild. Good trick if you can pull it off. The best trick the Devil ever pulled was getting the world to believe he did not exist. The second best was to hire the Rothchild family.
Unbelievable. Greece's gold is being sacked and not a single gun has been fired.
So whats more successful Total Physical War or Financial War?
It appears on evidence Derivatives are the guns and the standing armies are the Globalist Banker Generals and their Technocrat seargents.
War by stealth. World wake the f*** up!!!
Crazy Canuck
The answer as has so often been prophesised by all the mystics of all traditions was that Man will only reach the next level (whether you call that heaven / utopia whatever) when he works for his fellow man. Take that to mean he shares what he has in abundance with his fellow man. Whene everyone does that we will all be ok. In the meantime we have to get rid of the globalists somehow but we are in for an almighty groundswell of change over the next 50 years.
...Greece. Problem, reaction, Solution.
Beacon.
AGXIIK said...
"Someone is going to get luck and the PIIGS will get made into sausage."
- - - - - -
Dont forget - germany is famous for it's sausage. What's that joke - "It doesn't matter what you order in a german restaurant, you always end up with a sausage on your plate."
In the end, germany (i.e. the bankers) is going to get stiffed. They will be on the receiving end of that 'sausage.'
Am I the only person who sees what is eventually going to happen? The PIIGS countries CAN'T pay their debts, so it is inevitable the lenders will get stiffed.
The Greek people should not allow their gold to be taken.
This is the death of debt-based fiat paper 'money'.
Afterwards, gold will remain gold, and silver, silver. But the banker's notes will fade into oblivion.
"Someone is going to get lucky and the PIIGS will get made into sausage."
This made me LOL
It's like watching an entire being robbed at gun point.
It's a 'barbarous relic', but all this conniving and plotting to lay hands on it is mighty bullish.
The Greeks might surprise everybody. Good luck to them.
I am Greek and need to tell you a few things about the situation..
Greece is actually a very rich country,in oil,gass,gold,uranium,and many more.The value is estimated to one trillion five hundred billion euros.Germany has no gass and oil,is dependent on imports from Russia-usa and other countries.USA is having geostrategical interests in the area.So combine all these and the greediness of ROTHCHILDS,ROKFELLERS and you will understand why all this is happening.
Situation in Greece is bad,unemployment is over 20%,salaries and pentions are reducing every now and then,hospitals and education are very very bad,people are looking for food in the rabbish and suicides are increased by 40%.We are out in the streets protesting,but police is attacking people ,bitting them,or spraying with gas.DEMOCRACY IS KILLED IN GREECE.But i believe that greece is the starting of what is going to happen globally.Unfortunately,i am afraid we are experiencing a third world war.
It just occurred to me that with the situation in Greece being so dire, that the heck is the difference if the Greeks just say---Molon Labe---screw you ECB---to hell with you all. So we default----good on us. We keep our gold.
And those CDS derivatives, guess what Monti and Draghi, Dame Dracmercula, and Papademos.
We hold the nuclear trigger. They are financial WMDs pointed at the heart of Europe
If we default, the CDS triggers and your whole financial empire collapses. 20 trillion in swaps and derivatives destroy the European banks, the US Banks, probably a few Japanese banks---the whole Euro zone goes in a deep recession/depression and here we are, just little old Greece, the smallest of the PIIGS.
We have the power to bring down the whole evil empire. Boom. We are already eating garbage. So why should we eat your s#$&
You think you have us over a barrel.
Guess again.
Portugal, Italy and Spain will do the same.
Give up our gold? We don't think so.
Just an errant thought this Friday night. After reading what is happening in Greece I guess I'm Greek too. Just like I'm Catholic after that bastard in the White House tells us to disavow our faith. Not on my watch
Because whatever happens on or before or maybe a little after march 20, Greece is going down. There is no other way for them to survive this nightmare being imposed on them by the troika. Might as well take everyone with them. Mutually Assured Destruction MAD
Exactly right AGX- which is why a former Goldman Sachs partner was placed (inserted) as Prime Minister of Greece in place of G-Pap. Can't risk an actual Greek going off the reservation.
fuck, I hope it doesnt affect the gold price cos I have fuckin £47,000 worth in London Gold and Silver
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