3233.5 Tons Of Gold To Be Confiscated By Insolvent European Banks

I came across this earlier today and I do not fully understand it... It seems to be saying that the banks will be able to take Greek gold for unpaid debt. Does this mean gold that is held in banks or gold that belongs to people. I know in the great depression gold was taken away from normal folk.

While hardly discussed broadly in the mainstream media, the top news of the past 24 hours without doubt is that in addition to losing its fiscal sovereignty, and numerous other things, the Greek population is about to lose its gold in a perfectly legitimate fashion, following amendments to the country's constitution by unelected banker technocrats, who will make it legal for Greek creditors - read insolvent European banks - to plunder the Greek gold which at last check amounts to 111.6 tonnes according to the WGC. And so we come full circle to what the ultimate goal of banker intervention in the European periphery is - nothing short of full gold confiscation.

www.zerohedge.com...

Either way is looks like the Greeks are being taken to the cleaners... :-/

At this point I would totally support that country expelling every international visitor, company and influence. And going back to the basics. I heard Iran and venezuela are looking for more friends.

Greece has been sold down the tubes by bankers. Also by leaders they did not elect. I hope they defend their gold with every weapon and bullet they have.

According to the article, it isn't just Greece, it is also Portugal, Italy, Ireland, and Spain. The article also mentions constitutional amendments in those countries to confiscate people's personal gold.

I don't know about the people over there, but when insolvent banks decide to STEAL personal property, that's when the S will hit the F. Americans would be wise to follow what happens over in Europe, because what is happening to them, will happen to us.

reply to post by groingrinder


They have been screwed. First the bankers bankrupt the country then when they the tell them if they want more money they have to privitise and sell there assets. Well we know who is going to be buying these assets..

They should give the banksters lead instead! Unfortunately I am betting they will riot and little else and the gold will be gone if it is not already!

Originally posted by FissionSurplus
According to the article, it isn't just Greece, it is also Portugal, Italy, Ireland, and Spain. The article also mentions constitutional amendments in those countries to confiscate people's personal gold.

That article is mostly speculation, I don't think it's possible for such a constitutional amendment in Portugal, and much less likely the confiscation of personal property without a legal backing.

reply to post by ArMaP


I hope you are correct. My step-father is from Portugal and I couldn't imagine he and his countrymen allowing anybody to take their hard-earned riches. However, don't underestimate the bankster's desire and their ability to buy off politicians.

Look what is happening in the US, and how our constitution is slowly being thwarted, with full backing from the Supreme Court. A constitution in any nation is only as powerful as the people it protects, and the politicians who are supposed to protect it.

reply to post by FissionSurplus



I think it is the same for most normal people. We are not going to give up that which we have earned and worked hard for to line the pockets of the banks....

Originally posted by FissionSurplus
My step-father is from Portugal and I couldn't imagine he and his countrymen allowing anybody to take their hard-earned riches.

Don't forget that there are many people that participated in the Carnation Revolution, and, unlike most of the newer generations that only know Facebook and YouTube, they know how to organize things.

However, don't underestimate the bankster's desire and their ability to buy off politicians.

Some years ago we had a case of a politician that sold his voting intentions because of some cheesy (in the real meaning of the word, as it was really related to some cheese factory) business. I don't remember if he was subject to some punishment by his party, but everybody knew what had happened and his career was not the same from that moment on.

Look what is happening in the US, and how our constitution is slowly being thwarted, with full backing from the Supreme Court.

To change our constitution the parliament needs a 2/3 majority, and although the two bigger parties make more than that, they are on opposite sides. The party with most seats could have enough votes if they could get all other parties to follow their voting intentions, but most smaller parties are also on the other side of the political fence.

A constitution in any nation is only as powerful as the people it protects, and the politicians who are supposed to protect it.

Then there's hope.

What about the gold confiscation during the depression. People were "made" to hand their gold over to the Federal Reserve (aka future tree swingers).

en.wikipedia.org...

I am always at a loss at people who wonder why an anonymous "somebody else" isn't "doing something" when the people making this statement won't do crap. You will be your own freedom fighter and you'll have to earn your freedom back. This will be done via blood, pain, and suffering.. Just to be lost a few generations down the road, again.. You have to be forever diligent about your freedom. It is YOUR responsibility, not somebody else's.