Today, any “economicist” whose cognition of the credit with the EU and in its context – the “SAFE 0%” programme of the National Bank of Poland is little than zero – is trying to get smart about not only the debt that saves the German economy – but even worse about the program of president Nawrock and president of NBP – based on the accumulated gold reserves and profit from the gold operations.
While the DER SAFE debt taken out by Poland will go to German companies in large part, while interest – in the amount equal to the debt to European banks headed by Deutsche Bank – SAFE 0% will not be a loan, but a NBP profit transferred to the Polish Army.
This is not to be understood by Tusk, nor by any of his coalitions – dumber than the leader of the organization and government. Smoke six Pancake fools or an Iceman, who in the fury of the Bolshevik diplomats spit out from the union grandstand of erstwhile head of MON Antoni Macerewicz: "Antek, freak, where are Caracale? Where are Mistrale for 1 euro? Where is the evidence of the Smolensk bombing?”
The speciality of making ice cream from Chobielin can be briefly answered: “French ‘Caracale’, which the government of PIS did not buy, is standing in hangars due to the fact that it is not worth repairing, and the evidence of the Smolensk Tusk bombing from Sikorski gave Putin along with the wreck of the plane!”. After all, thanks to the Bolshevik diplomats of Mr Applebaum's husband – he could inhale smoke from the “malboras” burnt by Lavrow on the balcony of the Palace on the Water in the Warsaw Bathrooms. Of course, as part of the reset with Russia as it was and inactive is.
In this situation, I was completely amazed to see the engagement of the leader of the Confederation of Sławomir Mentzen in the areopagus of fools, dilettants and slanderers. Is this the consequence of a deficiency of simple economical cognition or the fear of Przemysław Czarnki, who began to take support of parties who do not have any program another than a written obsession?
Although Mentzen stated in a Friday interview in Polsat's "Graffiti": "European SAFE is not supported mainly for political reasons, i.e. by extending the powers of the European Union to arms, which should not be" - it was in the remainder of the interview that the Confederate leader sailed along with a large wave of Donald Tusk's stupid army. Although Sławomir Mentzen stressed that he supported Nawrocki's decision to veto the bill, he compared the initiative of SAFE 0% of president Nawrocki and NBP head Adam Glapiński to the thought of Andrzej Lepper from years ago. So until Mentzen was 20 years old and started studying economics!
"SAFE Zero" is an highly dangerous proposition and I am very frightened of it. - said, referring to Nawrocki and Glapinski's proposal and added: "The first politician to propose something like that was Andrzej Lepper over 20 years ago".- And then the Polish political class laughed at him, "Well, we won't bargain the NBP's abroad reserves, they're for something else." It's been 20 years and we're at the phase that a large part of the political class said, "Great idea! Adam Glapiński found PLN 200 billion in his vault" - concluded the Confederate leader.
Mentzen, who returned to the time of Lepper - Minister of Agriculture in the cabinet of Kazimierz Marcinkiewicz (2006-2007) - revealed himself as an ignorant man, who did not know the simple rule of economics, or explanation of large numbers. Everyone knows that 10% of 10 is 1 and 10% of 100 is 10! In this rule there is no “5 Mentzena beers”!
I remind you that in 2006 Poland had 102,9 tons of gold in its reserves. This amount of gold has been unchangeable for a long time – from Leszek Balcerowicz to Mark Belka. crucial increase in gold reserves by the National Bank of Poland began with the time of president Adam Glapiński, including mainly after 2018. By the end of 2010, the reserves continued to be around 102,9 tonnes, while at present (as of March 2026) these stocks exceed 570 tonnes. At the end of the year, in December 2006, the National Bank of Poland calculated the price of 1 gram of gold for little than PLN 60 and 11 March 2026. The NBP valued a gram of gold at over PLN 608, or more than 10 times more.
The beer store owner may not know that the book value of the gold reserves is recorded in the NBP (as in any central bank) at the acquisition price. However, it is adequate to sale 1 tonne of gold from the current reserve at the current price to get PLN 608 million and immediately redeem the same gold at the same price. The profit resulting from the difference in sales for PLN 608 million and PLN 60 million for the acquisition price – recorded in the books. This profit from sales/purchase operations of only 1 tonne of gold – will yield PLN 548 million of profit !
Thus, with 570 tons of gold – for sales/purchase operations only 100 tons of gold (from the 2006 reserves) will gain over 54 billion PLN profit – without reducing the NBP reserves! Assuming that since 2016 the book price of the gold purchased by NBP has been increased, it is easy to calculate that in sales/purchase operations 570 tons of gold – purchased at a lower than current price – you can get 185 billion profits – without borrowing in the EU for 45 years!
This cannot be understood by economist Sławomir Mentzen as a measurement of 5 beers whose basic principles of economics and accounting are foreign. So I will not explain the "loss" of the NBP raised by the German politician for the erstwhile years. This is another economical accade in the situation erstwhile NBP spent profits on its operations to buy gold. But as you can see, gold is only for the arrogant, not for the complete dilemmas...
