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Here We Go: Cyprus To Sell €400 Million In Gold, About 75% Of Its Total Holdings, To Finance Part Of Its Bailout
Wednesday, April 10, 2013 23:09
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Curious why every bank and their grandmother, and most recently Goldman today, has been lining up to push the price of gold as low as possible? Here’s why:
CYPRUS TO SELL 400 MLN EUROS WORTH OF GOLD RESERVES TO FINANCE PART OF ITS BAILOUT – TROIKA DOCUMENTS – RTRS
Or about 10 tons of gold. But… the bailout was prefunded and there was no need to provide any additional cash? What happened: was the deposit outflow discovered to have been even greater than the worst case scenario and thus Cyprus needed evenmore cash? As for the buyers? We will venture a guess: central banks buying at the lows …. http://www.blacklistednews.com
2013-04-10 23:04:11
Source: http://luismmx.blogspot.com/2013/04/here-we-go-cyprus-to-sell-400-million.html
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