Assets versus obligations of the ECB
In the intervening period the ECB has assumed huge but unknown obligations to pointlessly prevent the inevitable. What worth the ECB then today?
When the ECB started it received gold deposits from the EU Euro Group member states, one must presume that these, together with reserves of non-euro currencies make up the ECB's total reserves. A list is here.
So when the Euro collapses we must assume, that in spite of the rise in the US Dollar price of gold, liabilities will exceed total ECB asset values.
Therefore Euro Group Members will lose the full value of the gold they deposited in Frankfurt?
Labels: ECB Bankruptcy
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