Netherlands

Tyler Durden's picture

2015 - Life In The Breakdown Lane





“Don’t look back - something might be gaining on you,” Satchel Paige famously warned. For connoisseurs of civilizational collapse, 2014 was merely annoying, a continued pile-up of over-investments in complexity with mounting diminishing returns, metastasizing fragility, and no satisfying resolution. So we enter 2015 with greater tensions than ever before and therefore the likelihood that the inevitable breakdown will release more destructive energy and be that much harder to recover from.

 
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Gold Held In NY Fed Vault Drops To Lowest In 21st Century After Biggest Monthly Withdrawal Since 2001





In November some 47.1 tons of gold were withdrawn from the NY Fed, bringing the Fed's total earmarked gold to just 6,029 tonnes: the biggest single monthly outflow going back to the turn of the century. This is also the lowest amount of gold held at the NY Fed in the 21st century.

 
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Broken Energy Markets And The Downside Of Hubbert’s Peak





A form of society could undoubtedly exist powered by nuclear, wind and shale gas. But it would be a society supported by the state with far larger numbers working in the energy industries than now, producing lower surpluses, the energy production part perhaps running at a perennial loss. Those losses have to be covered by either higher price or via the taxation system. Either way, the brave new world that awaits us will be characterized as the time of less that will be in stark contrast to the time of plenty many of us enjoyed during the 20th Century.

 
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Ukraine Central Bank Conned Into Swapping Its Gold For Lead Bricks





The story of Ukraine's corzined gold just got far better, and far, far more bizarre and surreal. As Bloomberg reports, Ukraine opened a criminal probe after several gold bars at the central bank’s storage in the southern city of Odessa turned to be painted lead.  The latest gold fraud involved a central bank employee passing lead bars covered with golden paint to the storage unit, registering them as gold, the Vesti newspaper reported today, citing an unidentified person with knowledge of the matter in Odessa’s police department.  In other words, the central bank was actually conned into buying the gold-plated lead.

 
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Things That Make You Go Hmmm... Like A 'Run' On The Gold 'Bank'





Say what you want about the gold price languishing below $1200 (or not, as the case may be, after this week), and say what you want about the technical picture or the “6,000-year bubble,” as Citi’s Willem Buiter recently termed it; but know this: gold is an insurance policy — not a trading vehicle — and the time to assess gold is when people have a sudden need for insurance. When that day comes - and believe me, it’s coming - the price will be the very last thing that matters. It will be purely and simply a matter of securing possession - bubble or not - and at any price. That price will NOT be $1200. A “run” on the gold “bank”  would undoubtedly lead to one of those Warren Buffett moments when a bunch of people are left standing naked on the shore. It is also a phenomenon which will begin quietly before suddenly exploding into life. If you listen very carefully, you can hear something happening...

 
Tyler Durden's picture

2014 Year In Review (Part 1): The Final Throes Of A Geopolitical Game Of Tetris





Every year, David Collum writes a detailed "Year in Review" synopsis full of keen perspective and plenty of wit. This year's is no exception. "I have not seen a year in which so many risks - some truly existential - piled up so quickly. Each risk has its own, often unknown, probability of morphing into a destructive force. It feels like we’re in the final throes of a geopolitical Game of Tetris as financial and political authorities race to place the pieces correctly. But the acceleration is palpable. The proximate trigger for pain and ultimately a collapse can be small, as anyone who’s ever stepped barefoot on a Lego knows..."

 
Tyler Durden's picture

Austria Considers Repatriating Its Gold





And just like that, the list of countries who want to repatriate their gold just increased by one more, because after Venezuela, Germany, the Netherlands, Switzerland, and rumors of Belgium, we now can add Austria to those nations for whom the "6000 year old barbarous relic bubble" is more than just "tradition."

 
Tyler Durden's picture

Frontrunning: December 12





  • Oil slide hits European stocks, safe-haven assets sought (Reuters)
  • IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months (BBG)
  • Cue constant pro-Abe propaganda out of Japan: Japan’s Secrecy Law Takes Effect as Abe Seeks Fair Vote Coverage (BBG)
  • As if it has a choice: Japan’s GPIF Bets on Abenomics-Driven Recovery (WSJ)
  • Heather Capital: How a $600 Million Hedge Fund Disappeared (WSJ)
  • Senate Panel Votes to Authorize U.S. War on Islamic State (BBG)
  • Japan’s 28 IPOs in 11 Days Give Abe a Lift as Startups Boom (BBG)
  • U.S. authorities face new fallout from insider trading ruling (Reuters)
  • Greek Stock Rout Means ASE Is 2014 Worst After Russia (BBG)
 
Tyler Durden's picture

This Was The Most Valuable Company In History (Worth 10 Times More Than Apple)





Over four centuries ago, the Dutch East India Company made history as the world’s first IPO. Known as VOC in the Netherlands, the company was one of the most successful ventures in the last several hundred years. When adjusted for inflation, its highest market capitalization would be worth over $7 TRILLION today (i.e. ten times the size of Apple).

 
GoldCore's picture

Swiss Gold No - Repatriation, Demand from Russia, India and China More Important





Switzerland’s ‘Save our Swiss Gold’ referendum was convincingly rejected yesterday by the Swiss electorate following an aggressive anti-gold campaign in recent weeks that had been closely watched both in Switzerland and abroad. 

Unusually, it involved the Swiss National Bank (SNB) very actively, and ultimately successfully, trying to convince the electorate along with the main political parties to return a ‘no’ vote.

 
Tyler Durden's picture

Federal Reserve Confirms Biggest Foreign Gold Withdrawal In Over Ten Years





A week ago, when we reported that in a stunning move, the "Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed", and when looking at the NY Fed's monthly reports of gold deposits by foreign entities, we observed that "we can see that while the 5 tons outflow in 2013 was most likely Germany, the recent surge in gold repatriation from Liberty 33 was the Netherlands. That said, only 77.5 tons of NY deposits gold has been officially repatriated through September, which means the October update, when it comes out, will be a doozy." Yesterday, the long anticipated October update of "earmarked gold" held on deposit at the NY Fed was released, and sure enough it did not disappoint. Declining in dollar value from $8.305 billion to $8.248 billion, this was the equivalent of 42 tonnes of gold being withdrawn, in the process reducing net gold located in the vault of JPMorgan the NY Fed to 6,076 tonnes. The 42 tonnes withdrawal was also the biggest single monthly redemption from the NY Fed since 2001.

 
GoldCore's picture

Netherlands, Germany Have Euro Disaster Plan - Possible Return to Guilder and Mark





The Dutch and German governments were preparing emergency plans for a return to their national currencies at the height of the euro crisis it has emerged. These plans remain in place.

 
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