In Act of Desperation, G20 Asks Germany to Pledge its Gold for EFSF Rescue Fund, Bundesbank Refuses; Grateful for the Arrogance

The collapse of the euro draws ever closer.  I love how Germany won’t allow real money(gold reserves) to be used for funding the EFSF, they want to hang on to the real thing.

JT

The gall and arrogance of the G20 and Euro-nanny finance minister clowns is staggering.

German newspapers report that the G20 discussed asking Germany to pledge its gold to bail out Greece and the Piigs, and to fund the EFSF.

The Bundesbank, Germany’s central bank said “We know this plan and we reject it.”

One might think that would be enough to stop such idiotic talk, but one would be wrong. In spite of Bundesbank opposition, euro zone finance ministers will discuss the idea next week.

Please consider Bundesbank: central bank reserves will not help fund EFSF

Click the link below to continue reading:

via Mish’s Global Economic Trend Analysis: In Act of Desperation, G20 Asks Germany to Pledge its Gold for EFSF Rescue Fund, Bundesbank Refuses; Grateful for the Arrogance.

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