Germany to review Bundesbank Gold reserves

Image: ponsulak / FreeDigitalPhotos.net *

“There is increasing nervousness amongst the German public, German politicians and indeed the Bundesbank itself regarding the gigantic risk on the balance sheet of Germany’s central bank and this is leading some in Germany to voice concerns about the location and exact amount of Germany’s gold reserves.”

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After the looting of Libyan Gold, NOW Projected PIIGS pillage: 3233.5 Tons Of Gold

Coin of Alexander the Great / Wikimedia *

… 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…  Julian Phillips (1)

Projected PIIGS Pillage: 3233.5 Tons Of Gold To Be Confiscated
By Insolvent European Banks

By Tyler Durden
ZeroHedge
February 23, 2012

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. Continue reading