Saturday, 25 February 2012 06:25

Greece surrenders its gold and itself to creditors in the new deal

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"As per the new agreement, Greece's lenders will have the right to seize the country's gold reserves in the event of any default. Greek gold reserves are estimated to be more than 100 tonnes. Also hard hitting to its national interests is the fact that all future issues of Greek bonds will be governed in English and Luxembourg courts- conditions more favourable to the bondholders."

-- A nation is being dismembered and eaten alive in front of seven billion pairs of eyes. Even a herd of deer, cattle or sheep is smart enough to run and seek shelter when one of it's members is taken by a wolf or a mountain lion. -- MCR

Commodity Online article

 

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