Unchained Preppers
General Category => News & Politics => Topic started by: Grudgie on October 14, 2014, 01:34:07 PM
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Watched a Youtube video this morning that tells about a potential bomb shell that could take place in the financial world. I'm no economics expert but this is huge.
Swiss Gold Initiative Referendum to Acquire 1500 tons of Gold (http://www.youtube.com/watch?v=qsFhyvaUA-U#)
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1) If this referendum is passed in Switzerland, they will take back ~600 tons of their gold sitting in the UL & Canada.
2) Plus they will need to buy on the open market another ~750 tons of gold which at today price about $58B dollars.
3) The Swiss National Bank will have five years to execute this action.
A) Gold would skyrocket
B) The value of the £ and CAN. $ will fall unless...
C) If the UK and Canada has any gold stored with the Fed they will ask for some.all of it back.
D) Because this is a public vote, not one country to another country ;) ;) the truth will likely surface as to where all of the worlds gold is.
Man O' man there is a lot of things happening in the world. Some biologic and some man made.
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Man O' man there is a lot of things happening in the world. Some biologic and some man made.
There is some evidence that the first is also the last.
Nemo
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Well, lets see. As I recall Germany asked for their gold back two years ago. When we told them no, they asked if they could at least look at and inspect their gold. We told them no.
It's the old rule. Possession in 9/10ths of the law. Wonder who is in possession of Germany's gold now, becuase I don't think it;s the Fed Reserve or Ft. Knox.
Best of luck Switzerland. Want your gold. Buy bombs.
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Hypothecation (https://en.wikipedia.org/wiki/Hypothecation) is what happened.
Hypothecation is the practice where (usually through a letter of hypothecation) a borrower pledges collateral to secure a debt or a borrower, as a condition precedent to a loan, or has a third party (usually an affiliate) pledge collateral for the borrower. The borrower retains ownership of the collateral, but the creditor has the right to seize possession if the borrower defaults. A common example occurs when a consumer enters into a mortgage agreement, in which the consumer's house becomes collateral until the mortgage loan is paid off.
The detailed practice and rules regulating hypothecation vary depending on context and on the jurisdiction where it takes place. In the US, the legal right for the creditor to take ownership of the collateral if the debtor defaults is classified as a lien.
How many times has the gold the USofA/Federal Reserve been hypothesized?
Bottom-line, the global economy is fucked. To a larger degree we, America, is at fault. The house of cards is collapsing.
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If we have it (on the books anyway) they are screwed.
Nemo
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Switzerland's gold is apparently stored in Switzerland, England, and Canada. Suprisingly none in USA.
A recent opinion poll in Switzerland shows the vote will swing slightly in favour of increasing their gold holdings.
Swiss Gold Initiative Referendum Opinion Poll Results (http://www.youtube.com/watch?v=tsFMVO-rAbE#ws)