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The Trend Continues: Romania Introduces a Bill to Repatriate its Gold Reserves

The Trend Continues: Romania Introduces a Bill to Repatriate its Gold Reserves

The Trend Continues: Romania Introduces a Bill to Repatriate its Gold Reserves - Nathan McDonald (08/03/2019)

The trend is accelerating, just as I predicted it would.

Countries all over the globe are growing anxious, as the geopolitical atmosphere of the world continues to heat up, threatening to hit a boiling point.

Central bankers and government officials who see the world through an unfiltered, non-rose-tinted lens are well aware of this, and are beginning to take the necessary actions required to protect themselves and their homelands.

China, Russia, India, Poland and Turkey are just a few of the countries that have made no secret of their plans for long-term accumulation of precious metals, in a hope to diversify their national reserves out of the U.S. dollar and into hard money.

I, along with many others in the precious metals community, believe that the reason for this is that they can see the writing on the wall and are well aware of what is coming down the road.

They know that the U.S. dollar will not be the reserve currency of the world forever, and from their actions, I believe they know that precious metals will once again take center stage, playing a vital role in the next successor to the throne.

Joining the growing ranks of concerned countries is Romania, a holder of 103.7 tonnes of gold. Or rather, a country that believes they hold 103.7 tons of gold.

As I have stated numerous times, if you don’t hold it, you don’t truly own it.

Physical possession of a significant portion of your precious metals is vital in these times of growing unrest.

Waking up to this reality, Chamber of Deputies President Liviu Dragnea and Senator Serban Nicolae of Romania have proposed a bill to force the National Bank to repatriate 95 percent of Romania’s gold reserves, which are largely held abroad.

 …click on the above link to read the rest of the article…

Putin Warns Romania and Poland Against Installing ABM Missiles

Putin Warns Romania and Poland Against Installing ABM Missiles

On Friday, May 27th, Russia’s President Vladimir Putin again asserted that American President Barack Obama lies when saying that the reason America’s anti-ballistic missile (“ABM”) or Ballistic Missile Defense (“BMD”) system is being installed in Romania, and will soon be installed in Poland, is to protect Europe from Iranian missiles that don’t even exist and that Obama himself says won’t exist because of Obama’s deal with Iran. Putin is saying: I know that you are lying there, not being honest. You’re aiming to disable our retaliatory capacity here, not Iran’s. I’m not so dumb as to believe so transparent a lie as your assurances that this is about Iran, not about Russia.

Putin says that ABMs such as America is installing, disable a country’s (in this case, Russia’s) ability to retaliate against a blitz invasion — something increasingly likely from NATO now as NATO has extended right up to Russia’s very borders — and that Russia will not allow this disabling of Russia’s retaliatory forces.

He said that “NATO fend us off with vague statements that this is no threat to Russia … that the whole project began as a preventive measure against Iran’s nuclear program. Where is that program now? It doesn’t exist. … We have been saying since the early 2000s that we will have to react somehow to your moves to undermine international security. No one is listening to us.” 

In other words, he is saying that the West is ignoring Russia’s words, and that therefore Russia will, if this continues, respond by eliminating the ABM sites before they become fully operational. To do otherwise than to eliminate any fully operational ABM system on or near Russia’s borders would be to leave the Russian people vulnerable to a blitz attack by NATO, and this will not be permitted.

…click on the above link to read the rest of the article…

Ukraine’s Looming “19 Fukushimas” Scenario

Ukraine’s Looming “19 Fukushimas” Scenario

 With all the action in Syria, the Ukraine is no longer a subject for discussion in the West. In Russia, where the Ukraine is still a major problem looming on the horizon, and where some 1.5 million Ukrainian refugees are settling in, with no intentions of going back to what’s left of the Ukraine, it is still actively discussed. But for the US, and for the EU, it is now yet another major foreign policy embarrassment, and the less said about it the better.

In the meantime, the Ukraine is in full-blown collapse – all five glorious stages of it – setting the stage for a Ukrainian Nightmare Before Christmas, or shortly after.

Phase 1. Financially, the Ukrainian government is in sovereign default as of a couple of days ago. The IMF was forced to break its own rules in order to keep it on life support even though it is clearly a deadbeat. In the process, the IMF stiffed Russia, which happens to be one of its major shareholders; what gives?

Phase 2. Industry and commerce are approaching a standstill and the country is rapidly deindustrializing. Formerly, most of the trade was with Russia; this is now over. The Ukraine does not make anything that the EU might want, except maybe prostitutes. Recently, the Ukraine has been selling off its dirt. This is illegal, but, given what’s been happening there, the term “illegal” has become the stuff of comedy.

Phase 3. Politically, the Ukrainian government is a total farce. Much of it has been turned over to fly-by-night foreigners, such as the former Georgian president Saakashvili, who is a wanted criminal in his own country, which has recently stripped him of his citizenship. The parliament is stocked with criminals who bought their seat to gain immunity from prosecution, and who spend their time brawling with each other.

…click on the above link to read the rest of the article…

Romanian Private Debt Crisis Erupting

Romanian Private Debt Crisis Erupting

BNRomania

COMMENT: Dear Mr. Armstrong,

What you wrote concerning the possible repeated start of the banks collapse from Austria, once again, is right. The biggest lenders in Romania are some Austrian banks, among some Greek ones which are already in a coma.

A new law has been passed and violent attack started from banks, including the National Bank of Romania. Today, 4 European mother-banks having subsidiary in Romania appealed an threaten with lawsuits in a letter addressed to the Romanian President, asking/demanding him not to endorse this law. My guess is they are Erste, Raiffeisen, Societe Generale (French) and either Alpha Bank (Greek) or UniCredit.
One IMF Director met one week ago with the Romanian President but agenda was not disclosed – guess what…

Pressure and lobby is huge. If this law is promoulged, banks are quite in shit, cause the estimated no of families who’ll give back homes to banks is 30 -100 000.
If not, President’s career and image goes in the toilet – so it comes political instability and next year are scheduled local and general elections.
Best Regards,
AI

REPLY: The crisis throughout Eastern Europe has been selling mortgages in Swiss francs without disclosing the currency risk. This law, passed by the Romanian Parliament, is actually fair. The banks would have to take back the property and end the debt. That is how Caesar resolved the debt crisis, for then too the bankers would not accept property and would take the borrower’s children and sell them into slavery to pay off the debt.

Romania’s National Bank (BNR) has asked President Klaus Iohannis to send back to the Parliament the recently approved law, which defines making payment on a mortgage by allowing the mortgage debtors to hand back to banks the mortgaged assets to terminate the debt. The bankers want no risk and will screw the people every time. This law is fair as the banks sold mortgages without guidance.

Money-Assets

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Olduvai IV: Courage
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Olduvai II: Exodus
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