Germany
repatriating gold faster than planned as confidence in euro plunges
Things
are looking bad in Europe and Germany prepares for the worst: a
probable sudden death of the euro currency.
Seven
years of failed neoliberal policies have destroyed the Greek economy,
yet in the midst of a big refugee crisis, terrorist attacks,
right-wing extremes rising in almost every European country, and the
monster of Deutsche Bank threatening with another financial disaster,
two things remain unchanged: IMF and Schäuble's sadistic behavior
against Greece, and, Greek persistence on keeping the country in a
currency which may collapse any moment.
The
German financial establishment, of course, will not play with fire
like Schäuble does, nor will give a hand to help Greece in case of a
European financial Armageddon.
We
have repeatedly supported that Germany has already a plan B to return
to national currency in case that things will take an uncontrolled
route in eurozone. Further information justifies this estimation, as
recently the country decided to accelerate the repatriation of its
gold reserves. From RT
:
Berlin is bringing home its gold reserves stored in New
York, London and Paris faster than scheduled, Germany’s central
bank said Thursday. The move is linked to surging euroskepticism, as
new governments in France and Italy may ditch the single currency.
The German Bundesbank has already moved 583 tons of gold
out of New York and Paris, planning to have a half of its gold back
in Germany by the end of 2017, which is ahead of the 2020 plan. The
rest will be split between the Federal Reserve Bank of New York and
the Bank of England.
[...]
As French presidential candidate Marine Le Pen and
Italy's 5-Star Movement are openly calling to pull out of the euro,
some economists in Germany say the repatriated gold may be needed to
back a new deutschmark should the eurozone collapse.
In
Greece, as described,
after rejecting the idea for more than two years, Syriza seems ready
to think the unthinkable: to leave the eurozone. Even if government
officials do not talk about it openly, eminent figures from the
left-wing party publicly talk about the hypothesis. For the former
European affairs minister of Syriza, Nikos Xydakis, the issue of the
exit from euro, in any case, should no longer be considered "taboo".
"There must be no taboo when we talk about the destiny of the
nation. We have reached the point where the people are at the end of
their endurance. I think we need an in-depth national political
discussion. And this discussion, of course, needs to start in
parliament," he said recently.
Yet,
the Greek banking-media establishment that has tied its interests
with the hard currency, doesn't want to hear about Grexit. Even under
these circumstances, anyone who dares, even to speak about the
possibility of national currency, demonized by the mainstream media
propaganda.
Despite
all the bad signs, Tsipras and his administration, still doesn't seem
to have a serious plan to get the country out of the euro-Titanic.
As
described
previously, in reality, Berlin does not want to destroy
eurozone because the euro-currency is the tool to impose the Greek
model to all the debt colonies. But that doesn't mean it can
prevent a disaster which might lead to an ugly ending of this
currency. It is almost certain that the Germans and others have ready
plans to return to the national currency.
Unfortunately,
Tsipras administration has been proved unreliable to design a viable
Grexit option. But now, Greece has the last chance to design such an
option, in order to limit the terrifying, unpredictable consequences
of an ugly collapse. There is a little time left for Grexit, which
could be proved the lifeboat that would help Greece survive from the
sinking of the Titanic.
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