ABSURD! Check Out This Bank’s “Solution” for Greece’ Debt Problem!

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from The Wealth Watchman

As things continue to spiral in Greece, markets have begun to really take notice as of late.  With the government in Athens continuing to hold the line on not cutting into Greek pensions(at least, so far), it seems that the Troika has seriously upped its threats to the tiny country.

For those who’ve been keeping up with the blow by blow reports in the debt negotiations though, if you’ve thought throughout all this, that it seemed as if the European banks were trying to start bank runs throughout Greece, you may very well be right.

Yet, now, in the 59th minute of the 11th hour, having utterly helped to hasten the crippling of the Greek banking system, a German bank comes out and offers perhaps the most ridiculous idea to Athens yet, on how to make their June IMF payments…Waaait for it!

“Commerzbank Suggests Greece Could Sell Gold Reserves to Make Payment”

Commerzbank sign

Yes!  Genius!  Why, Athens could simply hock off their remaining generational treasures, to simply make a few interest payments to DC’s imperial banking bourse, the IMF!  Why didn’t Greece think of this before?

Well, I’m no rocket scientist, but maybe they haven’t mentioned doing this, because it’s the dumbest thing anyone has uttered yet!  However, lest any of you think this is just some cruel joke, I assure you, they’re quite serious. Commerzbank said:

According to the latest [International Monetary Fund] statistics, the Greek central bank holds 112.5 tons of gold, worth €3.8 billion at current market prices…Greece could in theory meet the €1.5 billion payment due to the IMF at the end of the month by selling 47 tons of gold from its reserves, if no agreement is reached with international creditors on the payment of bailout funds.”

Cute huh?  Yes, “in theory”!  While we’re all taking a frolic down the bizarre lane of the suppositional here, let’s run another scenario.

What if I held a press conference, and told all the poor, college students across the US(awash in crushing debt) that I had plan to help them pay off their tuition?  Then, after I had amassed thousands of those desperate students in front of me, who hung on my every word, I finally said,

“Guys, trust me on this one, all that each of you has to do(in theory) in order to come up with the needed cash to make your next semester’s tuition payment…

Is to sell both of your kidneys on the black market!”

Well, friend, do you think I’d have many takers?  Or do you think those same students would chase me down with sharp, pointy objects for offering such a hopelessly cynical and heartless idea?

Yes, while it’s true that if Greece sold half its gold reserves, it could keep the agonizing farce in Greece continuing for perhaps another 2 months….why on earth would they want to do that?

Why continue to play this impossible bankers’ game for even a day longer than necessary here? Especially when you consider that even the bank who offered this mind-numbing “solution”, admits that it will probably make things worse! Read on!

“One European Bank said that the beleaguered nation has one more Hail-Mary shot, but it’s only a short-term solution and could exacerbate the situation.”

No fooling!

After all, remember what happened to Venezuela after it caved and sold some of their gold to the “Black Market Dealers” in London?  Did it help re-establish confidence in their beleaguered country?  Well, just check out this headline:

“Venezuela’s Inflation Rate Is 200% and Credit Card Companies Are Cashing In”

You read that right.  Not only did the “solution” of selling gold to the DC/London loan sharks result in hyperinflation, but the desperate Venezuelan citizens are now being preyed upon by carnivorous credit card companies, who’re carving up what’s left of their country!

Yes, brilliant, excellent suggestion banksters!  Spoken like a true psycho, “Sell us your gold, at 5 year lows, so you can use the meager proceeds to pay us again!”

Oh, but if you thought that Commerzbank’s “helpful” suggestion to Greece was an asinine remark, just wait!  I assure you, they saved the best, most disgusting statement for last!

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