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It Begins: Ecuador Demands Repatriation Of One Third Of Its Gold Holdings

Zero Hedge: One week ago, when we reported the news that the Bundesbank had secretly pulled two thirds of its gold from London years ago, we said the following:

... Germany has done nothing wrong! It simply demanded a reclamation of what is rightfully Germany's to demand.

And here is the crux of the issue: in a globalized system, in which every sovereign is increasingly subjugated to the credit-creating power of the globalized "whole", one must leave all thoughts of sovereign independence at the door and embrace the "new world order." After all this is the only way that the globalized system can create the shadow cloud of infinite repoable liabilities, in which we currently all float light as a binary feather, which permits instantaeous capital flows and monetary fungibility, and which guarantees that there will be no sovereign bond issue failure as long as nobody dares to defect from the system in which all collateral is cross pledge and ultra-rehypothecated... for the greater good. Until the Buba secretly defected that is.

And this is the whole story. Because by doing what it has every right to do, the German Central Bank implicitly broke the cardinal rule of true modern monetary system (never to be confused with that socialist acronym fad MMT, MMR or some such comparable mumbo-jumbo). And the rule is that a sovereign can never put its own people above the global corporatist-cum-banking oligarchy, which needs to have access to all hard (and otherwise) assets at any given moment, on a moment's notice, as the system's explicit leverage at last check inclusive of the nearly $1 quadrillion in derivatives, is about 20 times greater than global GDP. This also happens to be the reason why the entire world is always at most a few keystrokes away from a complete monetary (and trade) paralysis, as the Lehman aftermath and the Reserve Fund breaking the buck so aptly showed.

read more http://www.zerohedge.com/news/2012-10-31/it-begins-ecuador-d...

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I've been searching everywhere for the original "bloomberg" story regarding this. Also searched in Spanish language news section and came up with nothing. Has bloomberg taken the story down?

Various blog searches all point to link quoted in original post. Original post quotes bloomberg story and Carlos Carrasco. Does anyone have link to the story in bloomberg?

Immoral funding of Military Industrial Complex by Federal Reserve and US taxation system must stop!!!! End illegal/unconstitutional wars! Preserve US currency!

Anybody have a zerohedge account? Please check this!

Excellent work, chief.

I would like to ask zerohedge to source that quote, as a bloomberg search does not find anything (this is just one of several I tried.)


Love or fear? Chose again with every breath.

Where's the gold?

They'll find only moth eaten I.O.U.'s LOL. I think Evelyn De Rothschild must of took it for his golden parachute retirement, worth over $10 Trillion. They were so worried about paying out this retirement fearing economic crash from it.

So maybe look under the Rothschild castle LOL! He was laughing all the way home ,not to the bank!

Gold standard: because man can not be trusted to control his greed

Michael Nystrom's picture

Time to shut the gold window again...

The other gold window. Apparently they left one open, thinking no one would ever use it.

The only way to make sense out of change is to plunge into it, move with it, and join the dance. - Alan Watts