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Target2 - Rocket propulsion for the price of gold

The Euro currency system stands on feet of clay, some critics say. If their predictions are correct, the price of gold, especially in euros, should fly in the future

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Target2 - an expression that is used in the media, especially because of the German economist Professor Sinn. Sinn has long assumed that the equalization system among the national central banks in the Eurosystem, which is operated by the European Central Bank (ECB), will cause trouble. The latest developments have once again highlighted the inequalities in Target2 balances. The Deutsche Bundesbank balance alone rose by 27 percent to 1.15 trillion euros from January to September. An immense sum that will probably never be properly served. Target2 balances come about when national central banks lend money to their domestic companies so that they can pay for deliveries from other countries, for example. 

Overall, there is an imbalance of 1.5 trillion euros in the ECB's Target2 system. If Target2 were to collapse, the Deutsche Bundesbank would probably be left sitting on its claims against other central banks. Approximately 400 billion Euro could probably survive an end of Target2 as receivables. But that is not enough. Since the Bundesbank owns 26.38 percent of the ECB's capital, the Bundesbank is also liable for defaults accordingly. An obligation to make additional contributions of around 400 billion euros could thus be met, even though the majority of Target2's receivables for Germany are defaulted.

In order for the Euro system to survive such a Target2 failure shock, a lot of liquidity should be pumped into the market again. This should weaken the euro and further fuel the devaluation race against the US dollar. The winner: the gold price in all currencies, and thus also gold companies such as Filo Mining or Fury Gold.

Filo Mining is developing the high-grade Filo del Sol copper-gold project located on the Chile-Argentina border. Near-surface gold discoveries characterize the project.

Fury Gold Mines, an exploration and development company, is focused on three productive mining regions in Canada At the Eau Claire project in Quebec, a 50,000-metre drill program will begin soon.

Latest company information and press releases from Filo Mining ( https://www.resource-capital.ch/en/companies/filo-mining-corp/) and Fury Gold Mines ( https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also 
applies: https://www.resource-capital.ch/en/disclaimer/ 

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Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

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