France’s Macron Urges G-7 To Sell Gold Reserves To Fund Bailout For Africa

ER Editor: Who on earth is advising him? For several years now, nations have been ramping up their gold reserves, especially the big ones such as Russia and China. As the world moves toward the Quantum Financial System, which is backed by tagged gold reserves, thus limiting and surveilling the movement of gold and money in general, why is he making this recommendation at this time? Which nations in their right minds would give up their gold? Zerohedge below notes that other western nations have done the same in the recent past, making hideous mistakes in the process.

Resource-rich African nations could fund themselves quite adequately if only the Usual Western Suspects would let them. This likely isn’t about a bailout for Africa, as it is about Western nations losing more of their valuable assets while they have plunged themselves heavily into debt during the fake pandemic, complete with economy-destroying lockdowns.

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France’s Macron Urges G-7 To Sell Gold Reserves To Fund Bailout For Africa

Tyler Durden's Photo  TYLER DURDEN

Having been slapped in the face by an unemployed fan of medieval swordsmanship who said he is a right-wing sympathiser yesterday, French President Macron was back at work today, making headlines in his latest press conference.

Building on comments from earlier in May, when Macron hosted African leaders and the heads of multilateral lenders to find ways of financing African economies hurt by the COVID-19 pandemic and discuss handling the continent’s billions of dollars debt; the French President had an interesting suggestion for how to fund the bailout.

“The peculiarity of Africa is that it does not have the financial means today to protect and revive its economy like all the other continents have done,” French Finance Minister Bruno Le Maire told RFI radio in May.

World finance chiefs agreed in April to boost reserves (SDR) at the International Monetary Fund by $650 billion and extend a debt-servicing freeze to help developing countries deal with the pandemic, although only $34 billion will be allocated to Africa.

“France wants this to go much further by reallocating SDRs that are (scheduled) for developed countries,” an official from the French presidency briefed reporters ahead of the summit.

Macron has said he believes Africa needs a “New Deal” to give the continent a breath of fresh air.

And today, he called on G7 nations to find an agreement as part of efforts to reallocate $100 billion in International Monetary Fund (IMF) special drawing rights to African states.

So how do we pay for the bailout?

Macron told a news conference he would like the sale of gold reserves to help finance this planned aid for Africa.

So is Macron about to join the hall of fame of infamous leaders selling gold at just the wrong time?

Remember UK Chancellor Gordon Brown in 1999?

Remember The Bank of Canada in 2016?

Will Macron get a ‘slap in the face’ for selling the barbarous relic at this time?

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