I posted four months ago an Eagles song. "The Greek's dont want...

I posted four months ago an Eagles song. "The Greek's dont want no freaks" on another forum. Hinting at what is happening now. Did anyone notice? Doubt it!

If Greece leaves the EU, Spain and its 1Trillion Euro Debt will soon follow.

This is the EU's biggest problem. Greece owes Euros340Billion which would have to be written off by the EU, Spain's debt = Euros1Trillion. They do not have the funds in the Euro500Billion ESM to cover this loss.

We are seeing the beginning of the end of the European Union as we know it.

What level will the Gold Price move to? Read below for my thoughts on this.

That is why there has been so much Gold Repatriation by these northern EU nations.in the last half of 2014.

Everyone celebrated the ECB QE, but 80% of the money printed, will be printed by each nation's Central Bank. This allows the European Union to be broken up, without German/Dutch/Austrian/Finish taxpayers picking up the bill.

The ECB’s QE was approved by Germany and the Bundesbank only if, as was announced, 80% of the QE is conducted by each EU Nation’s Central Bank, in order to limit shared risk by the EU to 20% of the 1-2Trillion Euros which will be printed over the next 18-24 months.

http://www.ft.com/intl/cms/s/0/aedf6a66-a231-11e4-bbb8-00144feab7de.html#axzz3QYisQCrH

Again read this article then read this sentence below:

“After strong pressure from Germany, it was agreed that national central banks would assume most of the responsibility for losses from any default or restructuring of their national debt, breaking with the eurozone tradition set by previous sovereign bond-buying schemes. There will be, however, risk-sharing on 20 per cent of the assets, largely debt issued by European institutions bought by national central banks.”

Enjoy the read ladies. Batten down the hatches and BOLTA!



Why am I so excited about Gold IDC and Mt Kare?


Cheers

Nectar38