COULD CYPRUS’S GOLD RESERVES PLAY A PART IN THE CRISIS?
The CYPRUS bailout proposal made by the Eurogroup is both economically and politically absurd. But what if the real reason behind the whole CYPRUS crisis is the desire to confiscate the country’s gold?
The EUROPEAN Union, the IMF and the ECB are pushing CYPRUS into bankruptcy while risking a contagion effect that could lead to the meltdown of the EUROZONE. EUROPEAN leaders have already bailed out GREECE, PORTUGAL, SPAIN and ITALY. Why is the CYPRUS bailout so special? Why do the EUROPEAN leaders prefer to push the country into bankruptcy and raid the CYPRIOT bank accounts instead of saving it?
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LEADERS OF THE TROIKA HAVE MADE A MISTAKE WITH APPALLING CONSEQUENCES, OR ……..???
There are several possible reasons for such a behavior. Either the leaders of the Troika have made a mistake with terrible consequences or they have a plan which is not obvious to outside observers. If the bailout package, combined with a “solidarity levy” on the bank accounts is a bona fide mistake, why aren’t they willing to correct it? The EUROPEAN negotiators insist that CYPRUS must provide 5.86 billion euros, knowing that the CYPRIOT government doesn’t have the money. So far, it looks like the Troika acts within a well established plan. What are they trying to achieve?
THE GOLD MARKET, PRICE SUPPRESSION SCHEME
Let’s take a look at the gold market. It has been known for several years, that the central banks of the developed world are operating a huge price suppression scheme in the gold and silver markets. The mainstream media is ignoring this fact, but several whistleblowers, like the former Goldman Sachs trader Andrew Maguire, have come up with facts and figures, supporting the hypothesis of a wide conspiracy to suppress the prices of gold and silver. For several years, traders and investors have been trying to draw the press’ attention to this problem. According to latest calculations, it is likely that the US Federal Reserve has almost no physical gold available, so its ability to continue suppressing the gold prices is diminished. If this is true, the CYPRUS crisis is a boon to the market manipulators.
CYPRUS TO SELL ITS PHYSICAL GOLD RESERVES WHICH STAND AT 13.9 TONS?
Under the current plan that is being discussed by the CYPRIOT parliament, the Central Bank of CYPRUS will sell its gold reserves in order to cover a part of the 5.86 billion euros demanded by the Eurogroup. Other sources of financing the country’s “contribution” include such outrageous measures as a special levy on bank accounts and the expropriation of the money held by the CYPRIOT pension system, so everyone’s attention is diverted from the sale of gold. Gold reserves of CYPRUS stand at 13.9 tons. While not a big amount in itself, these reserves represent “physical gold” not “paper gold” which makes it very valuable from a market manipulation perspective. If the central banks and financial institutions that are suppressing the gold prices are running short on “physical gold”, then each ounce of real, assailed, not rehypothecated gold is priceless. Time has shown that the gold market manipulators are extremely powerful and will go to any lengths to keep the gold and silver prices down. If they have to force a country into bankruptcy in order to get 13.9 tons of physical gold and use it to suppress the prices, they’ll do it. If they have to create a distraction for the media, like a “special levy on bank accounts”, they’ll do it. If they are successful, it is very likely that ITALIAN or SPANISH gold reserves will be targeted next.
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CYPRUS’S GOLD RESERVES Updated at :
7:31 AM
Saturday, March 23, 2013
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