"You even want to make a start at trying to bail out Europe we are talking $25 trillion just to start. And it would then--if you were going to bail out the entirety of Europe--you would now be talking about hundreds of trillions of dollars."
To put the impossibility of a European intervention into perspective, Barnhardt goes on to explain that "the total gross domestic product of the entire planet earth is I think just under $70 trillion... [saving Europe] is mathematically impossible".
That leaves us with at least two possible options. Either the smartest minds on the planet aren't really that smart or they're even smarter and more nefarious than we thought. In the past year we've seen several headlines referring to world leaders and their gold. Two notable examples were Hugo Chavez pulling Venezuela's gold from JP Morgan and Muammer Gaddafi sitting on 143 tones of gold in Libya, (we know how things turned out for Muammer). A friend of mine reminded me a few days ago of the age old "golden rule": those with the gold... rule.
To me it looks like the world is realigning just like it did after WWII when the gold-backed USdollar replaced the Pound Sterling as the new world reserve currency. For the first time in 68years counties are beginning to trade amongst themselves in currencies other than the USD and some, including the UN and Timothy Geithner, have even gone as far as to suggest a need for a new world reserve currency. If it's true that history often repeats itself, the only thing left for a new monetary system to emerge would be... war: currently the predominant global headline.
"While hardly discussed broadly in the mainstream media, the top news of the past 24 hours without doubt is that in addition to losing its fiscal sovereignty, and numerous other things, the Greek population is about to lose its gold in a perfectly legitimate fashion, following amendments to the country's constitution by unelected banker technocrats..."
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