Greece ... Massive Uptapped Reserves Of Gold, Oil And Natural Gas ... not 'poor'

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posted on Dec, 27 2012 @ 05:03 PM
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according to this article and the following links
the currently 'ransacked' [by EU policies] country of Greece
may actually become one of the wealthiest in Europe, as they begin to tap into huge amounts of natural reserves.

If the Greeks were to fully exploit the natural resources that are literally right under their feet, they would no longer have any debt problems.


Fortunately, this recent economic crisis has spurred them to action and it is now being projected that Greece will be the number one gold producer in Europe by 2016.


Reportedly, Greece is sitting on hundreds of millions of barrels of oil and gigantic natural gas deposits that are worth trillions of dollars.

link to above.


this , according to Bloomburg

Gold mining is gathering momentum after Greece began what it called a “fast-track” approvals program. The Canadian and Australian companies said their projects will add about 425,000 ounces by 2016, worth $757 million at the Oct. 5 spot price, to the 16,000 ounces the country produced in 2011.


Greece is set to overtake Finland as the continent’s largest gold producer within four years, as regulators in Athens sign off on mines kept on hold for more than a decade by red tape and environmental rules


also , the amounts of both natural gas and oil deposits they have yet to develop are staggering ...

Early estimates suggest that the Gulf of Patra may have 200 million barrels of crude oil, and that there are another 80 million at Ioannina and nearly 3 million off the coast of Katokolo.


Furthermore, according to the United States Geological Survey, in the sea between Crete, Cyprus, Israel and Egypt, there are about 15 trillion cubic meters of natural gas and oil just waiting to be extracted.

link

hopefully they will not succumb to financial woes as things look like they could be very prosperous in the near future !




posted on Dec, 27 2012 @ 05:06 PM
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Why does a report like this pop up now? Why wait until a financial calamity before reforming your economy from a mainly tourism and agricultural economy to a mining and resource extraction economy. This seems too pre-planned to me. I just don't understand why these resources haven't already been exploited yet?

-Ghoster
edit on 27-12-2012 by theghoster because: (no reason given)



posted on Dec, 27 2012 @ 05:10 PM
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This is a classic takeover.

Before the crisis most resources belonged to all the people.

Now they "sold" those resources/revenues to finance the crisis and interest!

So now the benefits of the resources will not benefit the people.

All planned from the beginning, imo.



posted on Dec, 27 2012 @ 05:30 PM
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reply to post by tinhattribunal
 



Lets say that it's valued at $100 a barrel. That's $200,000,000,000, or $200 Billion...

Someone's going to have to convert the currencies, to really make sense of it. But regardless, this really doesn't add up to much.

Greece's debt:




€10,320,106,100,000: that is the total amount owed by the 27 governments of the European Union.

www.guardian.co.uk...


or $10 Trillion....

This is a small dent!!!

Not to burst any bubbles here... but this is all small potatoes. Even the gold numbers...




425,000 ounces by 2016, worth $757 million


I mean, cmon THIS IS NOTHING!

There are soooo many, much larger deposits of these ores being found, that will actually amount to something, It's just too bad that Saudi investors are raping and pillaging these findings.

I have a VERY LONG article that I'm going to be sharing with the ATS community as soon as I am able to post, that may bring some perspective into the conversation regarding precious metals markets, foreign relations and geo-political stationing.

Lets put it this way, Greece is reporting 425,000 ounces of gold.

Ethiopia... is reporting 128 tons of gold.
www.businessweek.com...

There's much more to this story, but basically... the government of Ethiopia is getting ripped off. Yet, the World Bank, for some reason
, has now all of a sudden found interest in investing billions upon billions into the infrastructure, especially the electrical grid of Ethiopia.

Word of advice... If you want to make money, go to Ethiopia... If you're smart, and choose the right direction, you may become the next billionaire.
edit on 27-12-2012 by retirednature because: comment



posted on Dec, 27 2012 @ 05:56 PM
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reply to post by retirednature
 


makes me feel like live aid was either a waste, or a pathway

if you think about it

live aid raised millions for africa yet
agricultural machines were purchased,knowing full well that fuel was very hard to come by
so after a short time many good machines were left to rot..

Whats my point?
I dont know, but something smells bad and its not my breath



posted on Dec, 27 2012 @ 06:17 PM
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reply to post by retirednature
 


i was most impressed by the amount [15 trillion cubic meters] of natural gas , as this is used for rather clean electric power generation.

looking forward to your coming thread.



posted on Dec, 27 2012 @ 06:52 PM
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Originally posted by retirednature
Greece's debt:



€10,320,106,100,000: that is the total amount owed by the 27 governments of the European Union.

www.guardian.co.uk...

No, that's not Greece's debt, as you posted, that's the "total amount owed by the 27 governments of the European Union", Greece's debt is (was) 347,204,000,000 Euros.

Maybe that's why gold has had that sharp rise in price some months ago...



posted on Dec, 27 2012 @ 07:02 PM
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Originally posted by ArMaP

Originally posted by retirednature
Greece's debt:



€10,320,106,100,000: that is the total amount owed by the 27 governments of the European Union.

www.guardian.co.uk...

No, that's not Greece's debt, as you posted, that's the "total amount owed by the 27 governments of the European Union", Greece's debt is (was) 347,204,000,000 Euros.

Maybe that's why gold has had that sharp rise in price some months ago...


You're right, the number that I provided was not correct... and taken out of context.

According to Wiki, it is 583,300,000,000 as of Jun 2011

en.wikipedia.org...

Regardless, I stick by my story...

Would you mind providing a link, that supports the number you presented?

ATS: I apologize for presenting the previous number as being Greece's debt. In the future I will try to be more on point.



posted on Dec, 27 2012 @ 07:38 PM
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Originally posted by retirednature
Would you mind providing a link, that supports the number you presented?

You really should read the articles you use as sources, as the number I posted was taken from it.


Near the bottom of the page you will find a "Data summary" with a "Download this data" link. That Data summary has the number I posted but in millions of Euros (it doesn't say in that summary, but the spreadsheet shows a legend saying "Millions of euro".





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