Loading ...As I noted elsewhere, a group of European Central Bank economists have just said the quiet part out loud.
In a recent report, they warned that rising demand for physical gold (over 2000 tons from London to NYC in 2025) could send the European Union into collapse
Why?
Because the Eurozone, already teetering on skyrocketing debts and rising bond yields (and hence interest rates), doesn’t have the money nor the gold to meet their 100:1 levered gold derivative contracts hitherto floating on the London and NY Gold Exchanges with a gross exposure of over $1T.
Yes, One TRILLION.
Sadly, we’ve been warning of this derivative time bomb and Comex insanity for years, yet only now the ECB is confessing its trillion-dollar problem out loud.
https://www.zerohedge.com/precious-metals/gold-global-financial-systems-lie-detector