Narrow escape in Cyprus? It would not appear. The echo of the trouble spots in Europe is constantly moving: the media focus their attention first on Cyprus, then on Portugal, Greece and then on to make a brief stop in Italy and start again the ride. The daily life of the crisis, of course, does not stop with the subdues-albeit temporary-of the media spotlight. In that of Nicosia, in particular, it seems that not all the problems have yet come, completely, to the surface. A draft of the document bailout Cypriot read from Ft, it follows in fact a 'given' worrying: the total losses imposed on the bonds 'Junior' and current accounts-a necessary condition for the release of international aid-until now arrive in 5.8 billion euro, would be much broader scope. In numbers, that 'flaw' from almost € 6 billion would be a 'crater', in reality, from 10.6 billion euro.
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There is need to make money in that of Nicosia and then here's the idea: to sell the majority of its gold deposits. The 'Fort Knox' Cyprus has 'only' 13.9 tons of the precious metal but strongly believes in wanting to sell at least 10 tons (about 72%): the maneuver would guarantee an income of almost € 400 million and would be part of the package of measures agreed with Brussels to save the island's economy.
The price of gold, of course, were affected. Just as the dawn of the 'Cyprus case' had already fleshed out a blaze on the prices of the precious metal, now these rumors will depress the trend bringing them to $ 1, 556 / ounce (38.24 EUR per gram). To stir the waters, of course, is not the extent of the gold reserves that Cyprus would be about to put on the market (in 2009, France put on the market 17.4 tons of gold bullion) because the risk "emulation" by the other peripheral countries in trouble. . The Cypriot plan, if materialized, would collect the markets a strong "psychological blow" according to James Steel, precious metals analyst at HSBC .
The move to Cyprus will be a really unique? Or will it be an example for other countries in trouble? In the 2013-2014 period, meanwhile, the Cypriot economy will contract by 12.5% with public debt at 126.3% of GDP share for 2015. The document referred to above speak of "downside risks" that would lead to a deeper recession than we have, until now, assumed. With good probaibilità, the worst in Cyprus (symbol of this shaky Europe) is yet to come.
(Photo: Reuters /)
A protester during an anti-Troika in Cyprus
© International Business Times, the leading business and financial news
Source: it.ibtimes.com
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Fight Inflation Precious Metals at Cost
2010-11-14 14:24:16 by PreciousMetalsMy company Saint Wealth Strategies, LLC has been purchasing metals for the last several years. My outlook has been to prepare people for the coming price inflation due to the money printing by the FED (Quantitative Easing) and government debt. My goal is to help my team members preserve their purchasing power and make some investment dollars in the process.
Preservation of Wealth sells precious metals at cost to its members. Most dealers charge fairly high premiums to clients purchasing physical bullion and coins . That is not the case with Preservation of Wealth since all purchases are at cost
"Last week's collapse of a massive precious
2013-05-21 12:52:05 by jeffe_verdeMetals mine in Indonesia, which killed at least 17 workers, brought unwanted attention to the American company that owns the facility, Freeport-McMoRan Copper and Gold. But the company is already well-known to many here in Washington: Its top executives, as well as the company PAC, contribute hundreds of thousands of dollars each election cycle to help fuel congressional campaigns. Freeport currently employs at least one former member of Congress . . ."
Do they own yours?
MONEX DEPOSIT COMPANY THEIVES
2011-06-21 06:48:49 by slaves-r-usThe company repeatedly drives in this brainwashing phrase "Americas Trusted name in precious Metals" They are definitely not trusted by anyone and most of their customers call Monex the biggest mistake of their lives. I sent this company 20g in Gold coins to cash in. Believing they were a trustworthy American company. They Kept all my Gold Coins and lied to me over and over about sending me a check. These people are human garbage.
It was silver but Soros is doing the same with
2010-10-12 08:35:24 by Kool-Aid-ManGold. Banks have not only stopped selling gold but have become buyers. Physical Gold and Silver is becoming very short in supply due to his efforts along that line. The US Mint has already run out of Gold and Silver.
US Mint Out Of Not Only Silver But Gold American Eagles As Well
Gold in short supply, prices can go parabolic
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