Anyone w/ a few tril of savings
The savings are there to save Europe, but in so doing by way of gold-stuffed pig euro, would necessarily trash an equivalent amount of less worthy causes, to the tune of several trillion
The gold loan idea is ... Dangerously Destablizing (dd), because it in effect is the get-go of a major currency realignment, unless team USA, the planet's largest debtor, either tees up an equivalent austerity-inducing gold loan, or
Do double duty on wastrel printing, and send gold to usd-denominated astronomical high.
Imagine as and when American natural gas fueled Greek ships transport china-manufactured golden gate bridge and high-speed rail systems using Brazilian iron and canadian chrome and British coal going one way, shanghai to Oakland, and
China-sourced rail network shipping fort Knox gold collateral for the return journey of the ships that just unloaded new public security surveillance systems by the contains.
Brave new world for the new world.
Would say a bit too early for the gold loan idea, by 6-14 years.
Otoh, we must realize that for every dollar buying the gold loan is a dollar less for non-gold backed lesser goodies (not as goods), unless and until the money for gold-backed loans is printed out of thin air, making the gold for gold-backing more expense and therefor the gold loan seriously more expensive.
The officialdoms might as well just print, grin and bear the subsequent shouting. What is done is done, and the voting members of fed just move to cushy banking jobs, as reward for a job well done.
Bottom line, prepare for 160,000 gold, as if the gold-backed loan takes off, demand increases dramatically for heretofore sleeping capital. |
