Jana Randow, Bloomberg
Estonia signed an agreement that limits how much gold European central banks can sell until 2014, according to the European Central Bank.
The five-year agreement announced August 2009 that was signed by the ECB and 18 other countries will remain unchanged over the period of the agreement, the ECB said in a statement on its website today. That agreement started Sept. 27, 2009 and limited gold sales to 400 tons a year for five years.
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ECB Says Estonia’s Central Bank Joins Gold Agreement (1)
Rahvusvahelised uudised | 17 Jan 2011 | EWR
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Hmmm. Sounds like the bankers are borrowing – pun intentional – from FDR’s Executive Order No. 6102, signed in 1933, mere days after he had assumed the Presidency, which declared a “serious emergency in banking.” The EO prohibited hording of gold within the U.S,., requiring all individuals partnerships etc to deliver coins, bullion and gold certificates to the banks of “The Federal Reserve System”, to be compensated by paper currency, exchange rate to be determined by the FED. In effect, Executive Order 6102 not only confiscated gold from all U.S. subjects and private banks, etc but also prohibited people from owning gold and banks from paying it out.
Is the ECB ensuring by their present move the “survival of the euro (paper currency), and also thus ensuring a stranglehold on the EU’s economy, just as FDR did in the U.S.?
Plus ça change, rien ça change…
Is the ECB ensuring by their present move the “survival of the euro (paper currency), and also thus ensuring a stranglehold on the EU’s economy, just as FDR did in the U.S.?
Plus ça change, rien ça change…
Rahvusvahelised uudised
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