The Reason For Mubarak's Power Hand Off Delay: Plundering The Gold

Tyler Durden's picture

It's official: as Egypt was burning, Mubarak was stealing the gold. When we reported, presumably jokingly, two weeks ago that the Egyptian Central Bank may have been plundered, it turns out we were pretty much accurate once again. For all those wondering why Mubarak was refusing to hand over power for the past two weeks as hundreds of people were dying, we now have the answer - it was all just to make sure he transferred his assets, especially gold, to safe regimes (in the process paying tens of millions in commissions to that most noble of jobs - the banker class). The Telegraph reports: "A US official told The Sunday Telegraph: "Hosni Mubarak used the 18 days it took for protesters to topple him to shift his vast wealth into untraceable accounts overseas, Western intelligence sources have said...There's no doubt that
there will have been some frantic financial activity behind the scenes. They
can lose the homes and some of the bank accounts, but they will have wanted
to get the gold bars and other investments to safe quarters.
The Mubaraks are understood to have wanted to shift assets to Gulf states
where they have considerable investments already – and, crucially, friendly
relations. The United Arab Emirates and Saudi Arabia have frequently been
mentioned as likely final destinations for Mr Mubarak and possibly his
family."As usual, we remind readers that according to the World Gold Council, Egypt had 75.6 tonnes of gold at the end of 2010. Should this number not be reduced following Mubarak's plundering, we will know just how pervasive Tungsten is in the world central banking cartel.

From Telegraph:

The former Egyptian president is accused of amassing a fortune of more than £3 billion - although some suggest it could be as much as £40 billion - during his 30 years in power. It is claimed his wealth was tied up in foreign banks, investments, bullion and properties in London, New York, Paris and Beverly Hills.

In the knowledge his downfall was imminent, Mr Mubarak is understood to have attempted to place his assets out of reach of potential investigators.

On Friday night Swiss authorities announced they were freezing any assets Mubarak and his family may hold in the country's banks while pressure was growing for the UK to do the same. Mr Mubarak has strong connections to London and it is thought many millions of pounds are stashed in the UK.

But a senior Western intelligence source claimed that Mubarak had begun moving his fortune in recent weeks.

"We're aware of some urgent conversations within the Mubarak family about how to save these assets," said the source, "And we think their financial advisers have moved some of the money around. If he had real money in Zurich, it may be gone by now."

Perhaps Goldman Sachs can take a proactive PR step and disclose to the population that the flow trade-frontrunning hedge fund had nothing to do with facilitating the transfer of Mubarak's billions in stolen wealth from point A to point B. And perhaps all other banks can follow suit. Either that, or we can all just wait for Mubarak's sworn deposition when he is put on trial for crimes against the Egyptian people some time in 1-2 months. Doing text searches for "Goldman" in those thousand page PDFs will be breeze...

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New_Meat's picture

Speedy, Saddam got 14 months. - Ned

Dr. Porkchop's picture

So where is he, and why isn't he under arrest?

DoChenRollingBearing's picture

Off to Saudi or the Gulf would be my guess.

They will welcome the $60 billion he's bringing in.


Learn, students, learn.  Take the real thing, not the paper.

yabyum's picture

Do Chen! He did not need the delay to load up the Gulfstream with fiat, the real stuff is heavy!

ZerOhead's picture

"Take the real thing."

I see you have learned your lessons well Grasshopper... just don't take it in this way...

Crassus was the richest of the three Romans in the first Triumvirate: Pompey, Crassus, and Julius Caesar. Even so he was considered greedy. Crassus invaded Parthia with seven legions, but was defeated at the Battle of Carrhae in June 53 B.C. His son committed suicide, but Crassus tried to escape. He died in a scuffle, possibly killed by Pomaxathres. Seven Roman eagles wound up in Parthian hands, making this a defeat on the order of Teutoberg and Allia. The winning general, the Parthian Surena, sent Crassus' body to the Parthian King Hyrodes, according to Plutarch. According to other sources, the Parthian king received the dead body and poured molten gold down Crassus' throat to punish him for his greed. See Plutarch's Life of Crassus.

Gotta love those Parthians... :)

Confuchius's picture

More to the point:


Why are no wall st banksters and us gummint fraudsters charged for their unending criminal offenses.

Hosni's petty thievery can't hold a candle to the never ending criminality of the USSA and its' "leederz"


JW n FL's picture

Gold from Egypt!!!


Green Shoots OffShore Bitchez!!!!

koeleköpke's picture

In Europe, people was always told to be afraid of 'the fundamentalists', Ben Laden and Company. In the meantime we let the Egyptian people live under dictatorship and now - once again - Mubarak, 70 billion in 30 years, plundered the gold like his friend Ben Ali. Thanks to the US, the Cia and the Moshad. What will happen next in the Middle East ? Hopefully a revolution like the french revolution ? And in Europe ? They are bankrupted also thanks to the Amis.

Who is John Galt's picture

nicht die amis, aber die jude! du penner!

Hephasteus's picture

Fucking old half dead wanker.

Henry Chinaski's picture

Egypt is old news.  Will be off the radar in no time.

Shameful's picture

And yet an army of morons believes the US still has it's gold. 50 years with no audit, controlled by open criminals. Yeah totally still there. And Santa is coming with a roll of Eagles for Christmas, if they are not there it's because you were a bad boy.

Shit give me 50 years and I'll move 8000 tons of gold myself, make a hobby out of it. Some men like sailing others like pillaging.

A_MacLaren's picture

Yup - A Magician's favorite trick, nevermind my left hand while I focus your attention on my right.

Audit AND Assay Fort Knox, the Fed and the NY Fed branch, West Point and other suspect hiding places.

If we are short any, some hours spent waterboarding various officials may help locate the missing reserves.

bank guy in Brussels's picture

Fascinating article with black and white photos, of the highly unusual visit to the Fort Knox gold vault, by members of the US Congress and some journalists on 23 September 1974.

They even visited the little-known tunnel leading out of the gold vault - but no worries, they said, the tunnel still surfaces inside the building, ha! And they admit that a lot of the gold they felt they saw, was the off-coloured coin-melt gold of lower purity.

Whether fact or fiction that 'the only gold in Fort Knox is in the security guards' teeth', interesting piece - Gary North just linked to this with his own commentary as well -

DavidPierre's picture

1951-ongoing: JAPAN.

Rockefeller lawyer, Nazi shyster and Hitler Project organizer, John Foster Dulles, President Truman's special envoy charged with ending the U.S. occupation of Japan, writes the peace treaty of 1951 in such a way that most former Allied POWs and civilian victims of Japan during World War Two are prevented from obtaining any form of compensation from either the Japanese government or from the Japanese corporations which had profited from their slave labor.

Dulles carries out his mission in complete secrecy and forces the other Allies to accept his draft (except for China and Russia, which refuse to sign).

Article 14(b) of the Dulles sweetheart treaty specifies:

'Except as otherwise provided in the present Treaty, the Allied Powers waive all reparations claims of the Allied Powers, other claims of the Allied Powers and their nationals arising out of any actions taken by Japan and its nationals in the course of the prosecution of the war, and claims of the Allied Powers for direct military costs of occupation.'

By fantastic coincidence, Dulles' little bit of legal legedermain has the result of rendering immune from recovery hundreds of billions of dollars worth of gold and other assets looted by Japan from the countries of Southeast Asia.

By 1951, a very large percentage of the loot has ended up in the hands of the CIA which secretes it in scores of tame banks around the world and will use it over the next half century for a bewildering array of illegal operations including the re-arming of Japan and the arming of the "contra" terrorists who will attack Nicaragua in the 1980s.


DeJa Vu all over again!
macholatte's picture

The Mouse that Roared

The Duchy of Grand Fenwick decides that the only way to get out of their economic woes is to declare war on the United States, lose and accept foreign aid. They send an invasion force to New York (armed with longbows) which arrives during a nuclear drill that has cleared the streets. Wandering about to find someone to surrender to, they discover a scientist with a special ultimate weapon that can destroy the Earth. When they capture him and his bomb they are faced with a new possibility: What do you do when you win a war?

DavidPierre's picture

Truth is Stranger than Fiction


 Beginning in the 1930s, Japan loots much of Asia of gold, precious stones, art and cultural treasures. Government treasuries, banks, factories, homes and art galleries are emptied of their valuables. Gold fillings are hammered from the teeth of corpses.

The looting is under the control of Emperor Hirohito's brother, Prince Chichibu and the operation is called Golden Lily.

Japan's foremost gangster, Kodama Yoshio, is made a rear admiral and is Chichibu's man on the ground. For years, the stolen loot is transported to Japan where some is used to pay for Japan's imperial wars but most ends up in the hands of the Japanese ruling elite including members of the imperial family and various other gangsters.

Towards the end of the war, when the U.S. submarine blockade stops the loot being carried to Japan, vast amounts of stolen wealth, worth about a hundred billion dollars, are accumulated by the Japanese in the occupied Philippines. The sheer volume of the loot staggers the imagination; hundreds of tons of gold, hundreds of thousands of carats of diamonds, tens of thousands of works of art.

Slave laborers and Japanese engineers build a massive complex of underground tunnels and bunkers in the Philippines to store the loot and are then murdered by being buried alive in the complex, leaving only a handful of senior Japanese officers under General Tomoyuki Yamashita with knowledge of the secret.

Following the capture of the Philippines by the U.S., American military intelligence officers torture Yamashita's driver until he reveals where he had driven Yamashita near the end of the war.

The U.S. military begins the retrieval of the Golden Lily loot. The stolen wealth is not returned to its rightful owners, nor is it used to pay reparations to the countries devastated by Japan nor is it used to pay compensation to the prisoners of war abused by Japan.

Instead, the U.S. government, taking the moral high ground as usual, decides to steal the stolen loot.

It sets up a team to launder the loot into two hundred separate bank accounts to be used to finance death squads, purchase perjured testimony, carry out terror attacks and subvert democracy in Japan and around the world under the guise of fighting the evil commies.

In Japan, the U.S. directs the loot into three separate funds. All are intended to re-establish control of Japan by the same right wing, banking and corporate interests which had driven Japan into war in the first place but, this time, beholden to the U.S.

The Yotsuya Fund is under the control of General Douglas MacArthur’s right hand man, Charles Willoughby (born in Germany as Adolf Tscheppe-Weidenbach, believe it or not) an ultra fascist, monocle-wearing certifiable loony, an admirer of Francisco Franco, the recipient of an award from Benito Mussolini and the boss of U.S. Army Intelligence, G-2, in Japan.

 Willoughby oversees the death squads operated on behalf of the U.S. by gangster and unprosecuted war criminal Kodama Yoshio which carry out assassinations of student leaders, liberals, leftists, union leaders, journalists and others who dare to question the creation of a right wing Japanese puppet state by the U.S.

The second fund, known as the Keenan Fund after Joseph Keenan, chief U.S. prosecutor at the Tokyo war crimes trials, is used to bribe witnesses at the trials. The perjured testimony is used to exonerate those Japanese war criminals who are now in bed with MacArthur and the U.S., including members of the imperial family and other gangsters including Kodama Yoshio.

The Keenan Fund is also used to bribe witnesses to purchase perjered testimony relating to Japan's chemical and biological warfare program so that the information can be kept secret for exclusive use by the U.S. Surrounding the Tokyo trials, there are sudden, violent deaths and suspicious suicides of those who apparently resisted bribes from the Keenan Fund.

The stolen billions in the Yotsuya and Keenan funds will eventually be combined into the so-called M-Fund, which is of such staggering magnitude that it will account for ten percent of Japan's Gross National Product by 1950.

The M-Fund will be used to subvert democracy in Japan through massive interference in the political process. For the indefinite future, by financing the deceptively named ultra right wing Liberal Democratic Party (LDP) which faithfully serves the interests of the Japanese and American ruling classes, the M-fund will ensure a pro-corporate, U.S.-compliant regime in Japan. The M-Fund will also be used to finance the official history of the Japanese defeat. It is easily imagined how accurate that is.

The end result is that Japan is very soon right back in business, firmly in the hands of the industialists and financial moguls who had raped and looted their way through Asia for decades. And they can stay in power as long long as they do what the U.S. says.

Outside Japan, the Golden Lily billions, along with loot stolen by the Nazis and stolen for a second time by the U.S., are used to subvert democracy and finance so-called "black ops" around the world.

The operation is called Black Eagle. When the CIA under Nazi shyster Allen Dulles begins dipping into the loot, they will use it to subvert democracy by manipulating elections in Italy, France, Great Britain, Greece and Japan among other places, to fund the puppet dictator of U.S.-invented "South" Vietnam, Ngo Dinh Diem, and to finance an endless stream of propaganda and disinformation during the so-called Cold War and CIA-directed campaigns of terror including the one against Nicaragua in the 1980s.

In the late 1960s, the U.S. puppet dictator of the Philippines, Ferdinand Marcos, will recover a further fourteen billions dollars worth of Golden Lily loot. With the kind assistance of the CIA, the U.S. Air Force and the U.S. Navy, the loot will be carried to the CIA's network of money laundering banks around the world.

The use of the Japanese and Nazi loot by the U.S. government in its covert war against the rest of the world goes on to the present day.

In the 1990s, William "Slick Willy" Clinton will allow the CIA to remove documents on Golden Lily from newly declasssified government documents.

There are reports that more of the stolen gold is recovered from the Philippines by the regime of George "I'm A Lyin' Guy" Bush.


bank guy in Brussels's picture

From the point of view of a number of Russians, the wealth of Western Europe starting in the 1200s in Italy, was essentially founded on the looting of the massive amounts of gold in the Christian Orthodox capital of the Byzantine Empire, Constantinople (later Istanbul), when it was sacked and pillaged by the Vatican-sponsored Crusaders.

After that looting, all of a sudden gold coins start being minted in Italy in the first significant quantities in Western Europe since the fall of Rome ... and Western Europe is suddenly 'rich' again.

The start of the Crusades and the start of Western banking in Italy happened at about the same time that the Roman Church split from Orthodox Byzantium and became hostile to it. Bank - Italian word 'banca', bench for counting.

So, 900 years ago, the earliest banks began financing a centuries-long 'middle east crusade' ... Banks back then were selling a Middle East war and a Western-sponsored little 'kingdom' in Palestine, that spilled a lot of blood for a while ... 900 years ago, same story as today.

In the West they tell the story that Muslim Turks conquered the Byzantine Empire in the 1400s ... yes they did the final stage, but it was the Vatican Crusaders, 'fellow Christians', who first captured the Byzantine capital and looted the gold in it, leaving Byzantium weakened with its major resources gone.

DoChenRollingBearing's picture

Yet another lesson from history to own your own gold!

Be your own Central Bank!

Threeggg's picture

The Knights Templar were the first to extend credit in the 1100's .................................!

Wonder how they re-inforced payment schedules ?

DavidPierre's picture

It was "Smokey" Jim Quinn or one of his Ewe-Diddling MORONS from

He aint got the gonnads to be open about it and comment on ZH.


Mike7.62's picture

Other than the youtube video, do you have any other source documentation for this?

Lord Koos's picture

WWII ended 66 years ago. We fire bombed Dresden and nuked two Japanese cities full of civilians.  You're still not happy?

Mike7.62's picture

I wouldn't know about the "little dick" part, but I had a great uncle who died on the Bataan Death March and am well acquainted with the brutality of the Japanese during WW II. That being said, what I was asking for were source documents for the above commentary, other than a video on youtube. I have since googled "golden lily" and found a book by a couple named Seagraves called "Golden Warriors" which I shall purchase in order to check their sources. Not that I disbelieve anything that I read on the 'net, but I like to verify on my own.

Tapeworm's picture

One detail that I find to be fascinating is the story of how it was secreted to the USA by loading it onto aircraft carriers in 1965, or thereabouts.

 The odd thing is that as truthful as the reports sound, like the abovementioned, there are some detail problems.

 The gold hauled from the Phillipines on the carrier exceeded the gross weight of the carrier and should have sent it to the bottom of Manila Bay. Obviously there were alternate physics at work here. Many LTL drivers have weighed in on the physics of this anomoly as evidenced by the callers to Coast to Coast radio show, and have sorted out the seeming impossibilities of the story that you reference.

 If there are hundreds of thousands of tonnes of glod that were never accounted for prior to WW2, but were collected from caves and remitted to the USA, this is the definitive bearish case for the glod haters.

 Anyone in their right mind should have never bothered with glod. House banking chairman Henry Ruess of Milwaukee, Wisconsin predicted that glodl would go to five dollars per ounce or less. He must have been privy to this formerly sequestered information bombshell.

BorisTheBlade's picture

 If there are hundreds of thousands of tonnes of glod that were never accounted for prior to WW2, but were collected from caves and remitted to the USA, this is the definitive bearish case for the glod haters.

Where's the mention of hundreds of thousands tons? - "hundreds of tons of gold, hundreds of thousands of carats of diamonds", no alternative physics needed to transport that weight, India has bought 200 tonnes of gold from IMF without any disruption to the gold market, where's the bearish case?

New_Meat's picture

PI part of this story in in Cryptonomicon.  - Ned

Things that go bump's picture

I have been lead to believe that that troll, Ferdinand Marcos and his lovely bride, Imelda, she of the shoes and the lovely luncheons, had gotten their hands on a sizeable amount of Yamamoto's gold.  In face, I believe the Marcos estate lost a law suit regardin some items that included a golden Budda, and was ordered to pay reparations.  


wisefool's picture

Good stuff on ZeroHedge this month. I am ready to to tell all you space monkeys that I'd give every bit of gold on the moon+mars if one of you would explain the value of the fact that the A#1 guy incharge of the IRS is a tax cheat. Bythe is just a nerd, yet you'll build robotic bears to proclaim her sins. 

bankrupt JPM buy silver's picture

This seems to be a common theme with recent protests...they arent stealing wheat, corn, nor oil.  Its the gold they want, hope its not filled with the tunggy...that would be a bummer day if he got back to the Hilton, and drill tested a brick...LOL, that would be a priceless moment.

digalert's picture

Knew it, just like his friend in Tunisia. Mubarak only wanted till September so he could strip the cupboards bare.

suckerfishzilla's picture

Wait.  You guys were joking about Mubarak looting the Gold?  OK that was a good one.  Four words...Stand by for delivery.  Thank goodness puppet dictators never loot the Silver.

Tapeworm's picture

Big time dictators get US press coverage on their looting. Does anyon here recall the fantastic intercepts of semi-trailers filled with Iraqi glod?

 Some Iraqi spoilsports said that the siezed trailers were not loaded with gold, but were carrying brass melt from weapons cartridges.

 We Americans knew that was a lie from the first we heard of it. Any sentient being in the USA had the sworn testimony of the Secretary of State and gobs of other betters that told us important military intelligence that was of the utmost reliability. The naysayers implicated Colin Powell as a liar if they doubted General Powell's claims of anthrax and worse.

 We all knew that Sadaam Hussein was the anti-Christ. The Christian Zionists aided by Israel's ministry of Truth told us that. If you doubt that truth then what is left to hang your hat upon?


SilverIsKing's picture

Did he remember his tinfoil hat?  All of us gold and silver bugs own 'em ya know.

phil silver's picture

Hmmmm, I didn't see that coming.

Ex President Mubarak is one serious Gold Bug. None of that paper trash, only 999 was good enough. I think he's made a good investment.

Remember 'No Counterparty Risk'


Dr. Porkchop's picture

He was hoping to hold on until September so that he could get all the copper wiring too.

naughtius maximus's picture

Did he remember to grab the fine dining silverware aswell?

zhandax's picture

You are confusing Hosni and Hillary

plata pura's picture

BIS, Mossad and CIA have been on this developing rhubarb for many moons.

Fix It Again Timmy's picture

Yuk!  Why would anyone bother with that old, dusty barbaric relic - gold? I mean, what the hell is it good for?

bronzie's picture

were are the trolls on a thread like this?

they are so quick to attack any silver or gold thread yet when another world leader proves that gold is the only real money, the trolls are strangely quiet

wisefool's picture

Well I'll be the troll if it makes you feel better. The head of the IRS (a guy who can put anyone in the 48 states in prison at whim) used TurboTax to do his taxes and he failed.

Shiny metals belong in Tolkien novels.

Pure Evil's picture

Well, maybe they needed the eighteen days to swap out the good gold bullion, for the Comex's tungstun salted gold bars.

How long would it take to move approximately 76 tonnes of gold bars?

Maybe they left some good stuff behind so when they test some bars they'll pass the smell test.