Standing before the European Parliament yesterday, it took Nigel Farage just four minutes to completely destroy every argument supporting the Eurozone. As Nigel explains in the video below, right from the start, the system was never intended to help the Greek people. Greece entering the euro was great for Goldman Sachs. But terrible for Greeks. It chained the country to a system in which it didn’t belong.
As the western financial collapse nears, the banksters are furiously working to shut down every financial exit available to the public to preserve their wealth from bankster confiscation.
France has just taken capital controls to a new level, banning the shipment of physical gold, silver, and cash through the mail, effectively shutting down the precious metals trade in France!
*Update: According to a reader who has attempted to mail a piece of jewelry to France, gold & jewelry are included in the capital controls ban.
A survey for the World Gold Council found that just 4% of people in Italy would back plans to sell the nation’s gold reserves according to Bloomberg.
Some 52% of citizens and 61% of business people would support the use of the nation’s gold reserves to reduce debt costs, the World Gold Council said. The study by Ipsos MORI surveyed 1,009 Italian citizens aged 16-70 and 300 business leaders.
Whether to sell Italy’s national gold reserves is an interesting question. A perhaps as interesting question and more important question in the light of the Troika expropriation of bank deposits is will Italians begin to diversify some of their savings in Italian banks into gold bullion?
The answer is almost certainly yes and the recent trickle of Italian money flowing into gold bullion, including into vaults in Switzerland, is likely to become something far more substantial in the coming weeks.
Capital flows out of periphery European banks and into gold has been quite low up until now but with deposits not safe now in the European Union that is likely to change and gold is likely to be one of the beneficiaries of the huge uncertainty that the Troika has managed to create about the banks in many European countries.
Our favorite member of the European Parliament Nigel Farage has delivered another epic rant, this time blasting the eurozone as a complete and total economic disaster, and stating that in the end, the whole Eurozone is going to break up.
The Eurozone has been a complete economic disaster. [Verhofstadt starts shouting] …The real problem that you won’t face up to though is the state of the French economy and the fact that France is now diverging by the month with Germany. So right at the very heart of the European project and the Eurozone project there is a disaster coming down the tracks. I am afraid in the end, the whole thing is going to break up.
Farage’s full rant is below:
By SD Contributor Rob Kirby:
When sovereign gold is lent / leased – this is done through A BULLION BANK [like Goldman Sachs] whereby, physical bullion is sold into the market to raise cash balances which are then reinvested.
LTCM inadvertently collapsed when they took a highly leveraged position in sovereign Russian bonds and Russia defaulted. If a public ‘work-out’ of LTCM would have ensued – the true state of sovereign Italian finances, as well as the criminal actions of Goldman ‘Hannibal Lecter’ Sachs would have been on public display for the whole world to see – and the Euro would very likely have been still-borne.
For his part in this CRIMINAL FIASCO – Super Mario Draghi was rewarded by being made Vice Chairman of Goldman Sachs International in 2002 and later, in 2011 was appointed president of the European Central Bank [ECB] which on December 13, 2012, was granted exclusive regulatory power over ALL EUROPEAN BANKS:
Our favorite member of the European Parliament, Nigel Farage delivered another epic rant this morning, railing on the Eurozone being awarded the Nobel Peace Prize, and states the good Europeans would break up the eurozone, but that there are no leaders in those southern European countries who frankly have got the courage to stand up to the might of Brussels and to challenge the Eurozone project.
Farage’s full rant below:
Our favorite European politician has delivered another epic speach to the European Parliament, this time delivered to none other than German Chancellor Angela Merkel.
Farage informs Merkel that the Eurozone experiment simply isn’t working, that the UK cannot join the Eurozone on their journey towards less democracy and further centralization of power, and that the time has come for the UK and the rest of the EU to agree to an amicable divorce, as it is time for the UK to leave the European Union!