3233.5 Tons Of Gold To Be Confiscated By Insolvent European Banks

[undgrd]

Think I just heard the last click of the roller-coaster climbing the hill.


Projected PIIGS Pillage: 3233.5 Tons Of Gold To Be Confiscated By Insolvent European Banks
Tyler Durden's picture
Submitted by Tyler Durden on 02/23/2012 09:49 -0500



While hardly discussed broadly in the mainstream media, the top news of the past 24 hours without doubt is that in addition to losing its fiscal sovereignty, and numerous other things, the Greek population is about to lose its gold in a perfectly legitimate fashion, following amendments to the country's constitution by unelected banker technocrats, who will make it legal for Greek creditors - read insolvent European banks - to plunder the Greek gold which at last check amounts to 111.6 tonnes according to the WGC. And so we come full circle to what the ultimate goal of banker intervention in the European periphery is - nothing short of full gold confiscation. So just how much gold will be pillaged by the banker oligarchy (it is amusing how many websites believe said gold is sacrosanct by regional national banks, and thus the EUR is such a stronger currency as it has all this 'gold backing' - hint: it doesn't, as all the gold is about to be transferred to non-extradition countries)? As the World Gold Council shows in its latest update, between all the PIIGS, who will with 100% certainty suffer the same fate as Greece (which has shown that unlike during World War 2, it is perfectly willing to turn over and do nothing) there is 3234 tonnes of gold to be plundered. And likely more as further constitutional amendments will likely make the confiscation of private gold the next big step. how much does this amount to? At today's prices this is just shy of $185 billion. Of course by the time the market grasps what is going on the spot price of the yellow metal will be far, far higher. Or, potentially far, far lower and totally fixed as the open gold market is eventually done away with entirely in a reversion to FDR gold confiscation and price fixing days.

The chart below shows total gold holdings for the top 40 countries. Little Ireland is off the chart with just 6 tonnes of gold.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/01/PIIGS.jpg

[DMac]

Gold confiscation, 2012 style.

[mamboni]

The hypocrisy of the bankers is staggering. It was Bernanke who had the temerity to tell Congressman Paul at the banking committee hearing that gold is not money and central banks hold it for "tradition." Now these blood sucking bastards that talk out of both sides of their mouths reveal what hypocrites and liars they are, as they grab the gold of the people of Europe through loan-sharking and artifice after years of telling us how gold is an archaic relic and useless!

These bankers are bloodsucking parasites pure and smple. The host that negotiates with the bloodsucker winds up very weak, incapacitated and then dead. The way to deal with the parasite is to remove it from the body and then kill it. People of Greece - this is your time of decision, to survive or to wither and die.

[undgrd]

London needs to reload after shipping a bunch to Hugo.
:)

[LastResort]

Good thing we won't have to worry about this in Canada we only have 2.5 tonnes of gold reserves....:(

[JohnQPublic]

The COMEX default is delayed for another year!

[Neuro]

The COMEX default is delayed for another year!

Yes that is not completely unlikely outcome. If the people let them come and steal their gold...

[Serpo]

Isnt this their whole idea in the first place .....to get the GOLD

[Neuro]

Isnt this their whole idea in the first place .....to get the GOLD

Those who have the gold gets to redraft the system!

[mamboni]

Louis McFadden and the Fed

On June 10, 1932, Congressman Louis McFadden, a long-time adversary to the Federal Reserve and a lifelong banker himself, made a 25-minute speech before the House of Representatives, in which he accused the Federal Reserve of deliberately causing the Great Depression. In 1933, McFadden introduced House Resolution No. 158, Articles of Impeachment for the Secretary of the Treasury, the Comptroller of the Currency, and the Board of Governors of the Federal Reserve, for numerous criminal acts, including but not limited to, conspiracy, fraud, unlawful conversion, and treason.

The following are some quotes from McFadden's 1933 speech and resolution:

"Mr. Chairman, I see no reason why citizens of the United States should be terrorized into surrendering their property to the International Bankers who own and control the Fed. The statement that gold would be taken from its lawful owners if they did not voluntarily surrender it, to private interests, show that there is an anarchist in our Government."
"The statement that it is necessary for the people to give their gold- the only real money- to the banks in order to protect the currency is a statement of calculated dishonesty!"
"By his unlawful usurpation of power on the night of March 5, 1933, and by his proclamation, which in my opinion was in violation of the Constitution of the United States, Roosevelt divorced the currency of the United States from gold, and the United States currency is no longer protected by gold. It is therefore sheer dishonesty to say that the people's gold is needed to protect the currency."

"Roosevelt ordered the people to give their gold to private interests- that is, to banks, and he took control of the banks so that all the gold and gold values in them, or given into them, might be handed over to the predatory International Bankers who own and control the Fed."
"Roosevelt cast his lot with the usurers. He agreed to save the corrupt and dishonest at the expense of the people of the United States. . . . ."

"By his action in closing the banks of the United States, Roosevelt seized the gold value of forty billions or more of bank deposits in the United States banks. Those deposits were deposits of gold values. By his action he has rendered them payable to the depositors in paper only, if payable at all, and the paper money he proposes to pay out to bank depositors and to the people generally in lieu of their hard earned gold values in itself, and being based on nothing into which the people can convert it the said paper money is of negligible value altogether."

"It is the money of slaves, not of free men. If the people of the United States permit it to be imposed upon them at the will of their credit masters, the next step in their downward progress will be their acceptance of orders on company stores for what they eat and wear. Their case will be similar to that of starving coal miners. They, too, will be paid with orders on Company stores for food and clothing, both of indifferent quality and be forced to live in Company-owned houses from which they may be evicted at the drop of a hat. More of them will be forced into conscript labor camps under supervision."

Were McFadden’s accusations the rantings of a lunatic? He had been president of a bank and spent ten years on the House Banking Committee, so his words are difficult to dismiss, especially since they parallel much of what is going on today. At least partial vindication is found in the current value of gold which has gone through the roof as people lose faith in our fiat currency. While it may be wide of the mark to accuse international bankers of a conspiracy to steal the world’s wealth, the collapse in the value of the dollar makes the debate moot. Our currency is headed towards irrelevance and the only ones being bailed out are the large banks who are too big to fail, but have contributed mightily to the explosion of the debt bomb. Louis McFadden warned about the same cronyism that bailed out the banks and Wall Street back in 1933.

http://www.futurnamics.com/fed.php