Socio-Economics History Blog

Socio-Economics History Blog

Europe’s Debtors Must Pawn Their Gold for Eurobond Redemption!

by mosesman
It’s a question of when?
  • This is just another scam for the financial rape of the sheeple (to steal their gold) by the Illuminist banksters! If gold is a ‘barbarous relic’ why are these banksters asking for gold. This move solidifies gold’s return as a monetary asset in the global financial system. Do not be taken for a ride. Gold is money and has been so for the past 5000+ years. Fiat currencies, the creation of the Illuminist banksters, have no intrinsic value and are backed by NOTHING! They are a CONfidence JOB!
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    Europe’s debtors must pawn their gold for Eurobond Redemption! 
    By , http://www.telegraph.co.uk/
    Southern Europe’s debtor states must pledge their gold reserves and national   treasure as collateral under a €2.3 trillion stabilisation plan gaining   momentum in Germany.
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    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.
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    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.
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    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.
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    The Social Democrat opposition supports the idea. The Greens say they will   block ratification of the EU Fiscal Compact in the German Bundesrat — or   upper house — unless Mrs Merkel relents.
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    “The Redemption Pact cleverly combines the advantages of lower interest   rates through joint European borrowing with a reduction of debt,” says   Green leader Jürgen Trittin. “Joint liability would be limited in   both time and scale.”
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    read more!

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