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It Begins: Bundesbank To Commence Repatriating Gold From New York Fed
In what could be a watershed moment for the price, provenance, and future of physical gold, not to mention the "stability" of the entire monetary regime based on rock solid, undisputed "faith and credit" in paper money, German Handelsblatt reports in an exclusive that the long suffering German gold, all official 3,396 tons of it, is about to be moved. Specifically, it is about to be partially moved out of the New York Fed, where the majority, or 45% of it is currently stored, as well as the entirety of the 11% of German gold held with the Banque de France, and repatriated back home to Buba in Frankfurt, where just 31% of it is held as of this moment. And while it is one thing for a "crazy, lunatic" dictator such as Hugo Chavez to pull his gold out of the Bank of England, it is something entirely different, and far less dismissible, when the bank with the second most official gold reserves in the world proceeds to formally pull some of its gold from the bank with the most. In brief: this is a momentous development, one which may signify that the regime of mutual assured and very much telegraphed - because if the central banks don't have faith in one another, why should anyone else? - trust in central banks by other central banks is ending.
Much more importantly, it is being telegraphed as such, with Buba fully aware of just what the consequences of this (first partial, and then full; and certainly full vis-a-vis the nouveau socialist regime of Francois Hollande which will soon hold zero German gold) repatriation will be in a global monetary arena, which is already scraping by on the last traces of faith in a monetary system that is slowly but surely dying but first diluting itself to oblivion. And in simple game theory terms, the first party to defect from the prisoner's dilemma of all the bulk of global gold being held by the Fed, defects best. Then the second. Then the third. Until, in this particular case, the last central bank to pull its gold from the NY Fed and the other 2 primary depositories of developed world gold, London and Paris, just happens to discover their gold was never there to begin with, and instead served as collateral to paper gold subsequently rehypothecated several hundred times, and whose ultimate ownership deed is long gone.
It would be very ironic, if the Bundesbank, which many had assumed had bent over backwards to accommodate Mario Draghi's Goldmanesque demands to allow implicit monetization of peripheral nations' debts has just "returned the favor" by launching the greatest physical gold scramble of all time.
From Handelsblatt:
Die Bundesbank hat ein neues Konzept ausgearbeitet, wo sie künftig ihre Goldreserven lagern will. Nach Informationen des Handelsblatts (Dienstausgabe) sieht dieses Konzept, das am kommenden Mittwoch bekanntgegeben werden soll, vor, den heimischen Standort aufzuwerten, in New York dafür weniger Gold zu lagern und überhaupt kein Gold mehr in Paris zu horten.
Derzeit lagert das Gold der Bundesbank ihren Angaben zufolge in New York, London, Paris und Frankfurt. In der amerikanischen Notenbank Fed lagern 45 Prozent der insgesamt 3.396 Tonnen Gold, in der Bank of England in London 13 Prozent, in der Banque de France in Paris elf Prozent und im Hauptsitz in Frankfurt 31 Prozent. Diese Verteilung soll sich nun ändern.
We present it in the original for fear of losing something in translation, but in broad English terms the above reads as follows:
The German Bundesbank is developing a new approach as to where its gold will be stored. According to exclusive information, to be fully announced on Wednesday, the bank will in the future hold less gold in the New York Fed, and no more hold in Paris (Banque de France). As a result, the distribution of German gold, of which 45% is held in New York, 13% in London, 11% in Paris and 31% in Frankfurt, is about to change.
There is no need to explain why this is huge news (for those who have not followed our series on the concerns and issue plaguing German gold can catch up here, here, here, here, and certainly here) . At least no need for us to explain. Instead we will let the Bundesbank do the explanation. The following section is the answer provided by the Bundesbank itself in late October in response to the question why it does not move the gold back to Germany:
The reasons for storing gold reserves with foreign partner central banks are historical since, at the time, gold at these trading centres was transferred to the Bundesbank. To be more specific: in October 1951 the Bank deutscher Länder, the Bundesbank’s predecessor, purchased its first gold for DM 2.5 million; that was 529 kilograms at the time. By 1956, the gold reserves had risen to DM 6.2 billion, or 1,328 tonnes; upon its foundation in 1957, the Bundesbank took over these reserves. No further gold was added until the 1970s. During that entire period, we had nothing but the best of experiences with our partners in New York, London and Paris. There was never any doubt about the security of Germany’s gold. In future, we wish to continue to keep gold at international gold trading centres so that, when push comes to shove, we can have it available as a reserve asset as soon as possible. Gold stored in your home safe is not immediately available as collateral in case you need foreign currency. Take, for instance, the key role that the US dollar plays as a reserve currency in the global financial system. The gold held with the New York Fed can, in a crisis, be pledged with the Federal Reserve Bank as collateral against US dollar-denominated liquidity. Similar pound sterling liquidity could be obtained by pledging the gold that is held with the Bank of England.
And in case the above was not clear enough, below is the speech Buba's Andreas Dobret delivered to none other than NY Fed's Bill Dudley in early November:
Please let me also comment on the bizarre public discussion we are currently facing in Germany on the safety of our gold deposits outside Germany – a discussion which is driven by irrational fears.
In this context, I wish to warn against voluntarily adding fuel to the general sense of uncertainty among the German public in times like these by conducting a “phantom debate” on the safety of our gold reserves.
The arguments raised are not really convincing. And I am glad that this is common sense for most Germans. Following the statement by the President of the Federal Court of Auditors in Germany, the discussion is now likely to come to an end – and it should do so before it causes harm to the excellent relationship between the Bundesbank and the US Fed.
Throughout these sixty years, we have never encountered the slightest problem, let alone had any doubts concerning the credibility of the Fed [ZH may, and likely will, soon provide a few historical facts which will cast some serious doubts on this claim. Very serious doubts]. And for this, Bill, I would like to thank you personally. I am also grateful for your uncomplicated cooperation in so many matters. The Bundesbank will remain the Fed’s trusted partner in future, and we will continue to take advantage of the Fed’s services by storing some of our currency reserves as gold in New York.
Incidentally, what Zero Hedge did provide after this article, was factual evidence that the Buba's very much "trusted partner" had been skimming it on physical gold deliveries on at least one occasion, in "Exclusive: Bank Of England To The Fed: "No Indication Should, Of Course, Be Given To The Bundesbank..."
So we wonder: what changed in the three months between November and now, that has caused such a dramatic about face at the Bundesbank, and that in light of all of the above, will make is explicitly very unambigous that the act of gold repatriation, assuming of course that Handelsblatt did not mischaracterize what is happening and misreport the facts, means the "excellent relationship" between the Fed and Buba, not to mention Banque de France which will shortly hold precisely zero German gold, has just collapsed.
Also, if the Bundesbank is first, who is next?
Finally, once the scramble to satisfy physical gold deliverable claims manifests itself in the market, we can't help but wonder what will happen to the price of gold: both paper and physical?
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Guess they saw Bernanke's Tweetfest
All your gold are belong to us.
Hope they don't try to get gold from Ft Knox! Virtually nothing is left!
http://confoundedinterest.wordpress.com/2012/12/30/if-the-chinese-raided...
There's a single piece of paper in Fort Know......I has three letters on it......IOU.
Stellen Sie die Lüge groß, machen es einfach, immer wieder sagen, und irgendwann werden sie es nicht glauben.
Not sure what that means.....but I hope you know a good boat salvager.
It begins
read this shit
https://twitter.com/OriginalShyne/with_replies
Is't Shyne a no good, drug dealing, convicted of three counts of attempted murder, illegitimate (surprise, surprise) son of the Prime Minister of Belize?
On February 16, 2010, Shyne signed a seven figure deal with Def Jam Records.
In October 2012 Shyne endorsed Mitt Romney for president of the United States, faulting President Obama for not doing anything to prevent the rapper's deportation back to Belize.
Rapping about the "Niggaz in da projects"... What a fucking joke.
I hope, for the sake of the good people of Germany, that the ship or plane carrying their gold doesn't end up at the bottom of the Atlantic Ocean in a tragic accident while in transport. . It happened to me and it was such a sad day, I still get all choked up thinking about it.
BiginJapan says
no, I think you have him confused with a money laundering banker and fast and furious participant
Looks like India's gonna have a stranglehold on the worlds new reserve currency. Oh sweet irony....
http://www.youtube.com/watch?v=1SkB2UV3Ohg
Repatriation to be Executive Ordered Moot, Booty Exchanged for Platinum Coin
Solved!
(we still have troops in your country, Herr Doctor Doctor)
Marc Faber will never sell his gold.
Neither will I.
http://www.planbeconomics.com/2013/01/13/marc-faber-why-i-will-never-sel...
And cnBSc & Bloomturd, not to mention the other Proxy "News" Networks & cable stations, spreading the talking points and pushing the false but oh-so-entrenched left-right paradigm (so as to allow conquer and divide-- mainly over ancillary & cultural wedge issues rather than core ones affecting peoples' everyday lives-- to continue), wonder why their viewers/readers/listeners continue to shrink in number at the speed of light?
They'd never report on something like this in any great or accurate detail because it doesn't comport with the official agenda.
Time for FOX News to step up to the plate.
"Secrets of the Federal Reserve Vaults" with your host Geraldo Rivera. Geraldo will lead a team of foreign central banksters and specially trained assayers to try and find, audit and assay the World's gold reserves. This two night special will start in NYC and end at Ft. Knox, KY. Special FED representative, David Copperfield, will host Geraldo and his team as they try to find the gold.....
Not a hare on their assenpheffer if they don’t melt it down and recast it with new markings.
What is the melting point of W, anyway?
If you don't hold it, you don't own it..
Gold, the safety of saving, and the returns of speculating, all at the same time.
Why fight the Fed and grumble about Obamas bumbling. Get a seat on goldtrain, and shrug your shoulders at the latest academic imbecility or government malfeasance, as you cruise contently down easy street.
Jetzt geht's los!!!!!!!
https://www.youtube.com/watch?v=M8pR1rZZHEs
I've got a trillion dollar coin for sale if any one want one.
Very rare, made from thickasfuckinium...
one of a kind, guaranteed.
Dare I say it? Could 'Full Faith and Credit' be the new barbarous relic?
and now would you believe, I've just found a 10 trillion dollar coin, this time made from a rare wood!
Amazin'
I could pay off the national debt.
Or, alternatively, I could use it as collateral for a Treasury Bill or three and use those as collateral to raise funding to buy up houses in Manhatten. In fact anywhere.
Lucky that I found it, you could all now end up owing me money when I buy up your mortgages, defaulted or not.
So how do you all feel about owing me interest on my 'money' for the next 25 years or so? Time to get back to work eh?
Cos when you think about it my magic wooden coin is no different than China's sovereign wealth funds is it?
Marvellous this magic money stuff, and this particular stuff really does grow on trees.
Honest.
This truly is the moment we've been waiting for: the moment the banksters turn on each other.
And in simple game theory terms, the first party to defect from the prisoner's dilemma of all the bulk of global gold being held by the Fed, defects best. Then the second. Then the third.
Thus, the illustration of that which has always been the first rule: if you're going to panic, panic first.
Raise a glass to Mr. Lars Schall. His tireless efforts brought the issue into the light.
For the holidays the family and I went upstate to Lake Placid, we arrived on Wednesday the 26th by 4:00pm it started to snow and didn’t stop for 3 days, when it was done we had 2 feet of snow, it was a winter wonderland. That much snow kind of puts a damper on skiing, snow boarding, ice skating and sleigh riding because the snow was very heavy dew to the temperature. It would have been nice to have powder but we can’t have everything. I did the next best thing, looking for antiques. I found an Edison standard phonograph from 1897, after haggling, I walked out of the store with the phonograph for $200.It took me a week to find a few parts I had at home and get it working , it was nice to see after 115 years it still worked. This particular talking machine originally sold for $20 dollars, at the time that was one Oz of gold. Only rich families could afford one. After getting the phonograph appraised at my local antique shop I was told that it was worth between $1600 and $1800, after all these years it’s still worth an Oz of gold.
1900 $20 = $1680 2013
Fucking banks!
Translation is that you're getting the "buy of a lifetime" in 'STUFF'...
Forget about gold & silver [unless you have an enormous amount of wealth to transfer over]...
~~~
On the cheap [in 'dollars' ~ cough cough, I'm trying hard here] you can get:
- salt
- sugar
- lumber [to build chicken coops, planter boxes, & lots of things]
- basic tools & hardware [remember: two is one & one is none]
- PVC pipe [for irrigation]
- tobacco seeds
- sheet copper [to build 'stills']... &, um 'silver solder'
- seeds of all kinds
- free containers everywhere [if you don't throw them away] ~ plastic bottles, glass jars, jerry cans, etc.
- cold weather rated sleeping bags [as well as cheap socks, underwear, bed linens, etc.]
~~~
Open up a general store after TSHTF [start your own bank & economy]...
Note: I'd put ammo into the above scenario, but it's not all that cheap anymore...
Cheap is relative...it is cheap compared to what it will be
Actually, I have to agree with Jeremy Irons as "Tuld" (hah) in Margin Call. If you are first - it's not panicking.
Nein. there is no faith. no credit. it's real. different ball game.
cool....my package is made from the same stuff
A gnat's-ass shy of 6000 F. No bullshit: the surface of the sun might not melt the stuff. It has the highest melting point of any metal.
[Edit] My mistake. It's 6192 F. I was thinking of another metal.
{edit again] The photosphere is hotter than 3500K. I've been computering after too many drinks. My third sentence was the only accurate statement. :-)
If the ancient Greeks and Romans could melt the stuff, I would think a few cocktails would simply add to the entertainment value. Do try to avoid any Darwin awards, though.
A clear case of "he who repatriates first, repatriates best" !
Could be fake 'German gold', a new clever plan to calm the paper gold market.
Possibly Germany agreed to accept fake or tungsten gold bars as 'repatriated'.
Some Germans have claimed after World War II, German gov't signed 150-year agreement with US to always be the US poodle.
My favorite part was when you said "no bullshit".
Simba, It is time
Menschen, die Stapel gehen zu stapeln.
In other news that the main & quite lame stream media rarely puts on the front page, the death of the American (and German, French, British, Japanese, Italian, Spanish....) middle class goes on, unabated, with a vicious increase in velocity, bitchez. Welcome to the head-on rush into genuine debt serfdom sponsored by The House of The Red Shield putting their deeply captured "elected" puppets, regulators and central bankers to work.
Life in the RedMillions of Americans have been keeping the lights on with borrowed money, and recent research suggests that debt can often reinforce reckless financial behavior.
Fascinating article from New York Times. Now excuse me for asking -- and I'm afraid of the answers -- but:
1. Why so many single mothers?
2. Why no mention of child support?
3. Where ARE the fathers?
I find it hard to believe that
a) So many women could choose so badly, and /or
b) So many men could be without honor and / or prospects.
Somebody please enlighten me...?
Ask Bill Cosby
or evader holyfield
Alcohol
What is rewarded, you get more of.
1) reproductive strategy
and 2) the gov is the daddy now
It is the lower half of women doing this and they are not choosing. The top 2% of women are extremely difficult to convince to be a mate, although I will continue to try.
My translation of the bolded phrase would be; "These workings, (arrangements), will not endure.(continue)." Very German. Very definete. Discussion not required.
"These ratios (parsings?) will soon change."
Or, more literally, "This division should soon change itself."
Stackers gonna stack.
Nope. It'll get confiscated.... Unless it's lost in a very unfortunate boating accident...
Aah, now I understand why gold and silver prices are being held so firmly in the narrow lower range! That's the missing link to understand what's happening these days. The Fed needs to accumulate physical gold to satisfy the repatriation needs and since there is most likely just a very little of it remaining in the vaults (as the main part is being leased, swapped, sold, stolen or otherwise plundered), it must be buying new production like crazy. That would explain why the cartel is so nervous and why it cannot afford to even pretend to follow apparent positive gold fundamentals but smashes rising prices immediately. I would bet that billions of new black dollars, not registered anywhere in the books, are secretly being printed solely for this purpose. The paper gold market is a pure scam to fool the mining companies! Once openly disclosed with all the consequences, it will have dramatic effect on PM's prices.
Good shot, Tyler!
"just a very little of it remaining in the vaults (as the main part is being leased, swapped, sold, stolen or otherwise plundered), it must be buying new production like crazy. That would explain why the cartel is so nervous and why it cannot afford to even pretend to follow apparent positive gold fundamentals but smashes rising prices immediately. I would bet that billions of new black dollars, not registered anywhere in the books, are secretly being printed solely for this purpose."
~~~
Jesus Tapdancing Christ...
This is what francis_sawyer has been "not so subtly" telling you all along... Furthermore ~ it's not just GOLD in question here... It's EVERY physical commodity [from metals to lumber, & beyond ~ so, so if you're too poor to buy gold... buy fucking kosher salt ~ In fact, don't buy ANY gold unless you already have a 50 pound bag of salt]...
But remember to keep telling yourself that it's that vague & mystical CARTEL... that's behind the operation... Here... I'll post it again [what will now become my standard line in these affairs]...
~~~
"The PROBLEM IS DEBT MONEY... & THE GODDAMNED MONEY DOESN'T JUST PRINT ITFUCKING SELF people... Somebody actually does that & they have their own interests in mind when they do..."
~~~
IOW... We're all in 100% agreement on WHAT the problem is... But to go one tippy toe step forward by attempting to make a distinction as to WHO is, [by overwhelming majority & massive statistical improbability if it were viewed as a "natural" occurrence, & thus must be viewed as collusion ], requires Evel Knievel himself to make that jump...
I'd give you 50 thumbs up if I could. In part because I am ROFLMAO after reading the first half of your comment. And in part because I empathize with your situation, your tragic loss. The same effin' thing happened to me. Imagine that.
I feel your pain, my friend. We are not alone. Many here on ZH have experienced a similar loss. Perhaps we should start a support group.
Price of "incandescent" light bulbs is going down in Germany.
How did Mr. Howell keep from losing all that cash in the storm?
Shit (fiat) Floats!
Same here. How many peeps have lost $ in the ponzi commodities market? What about the blue chip stock market after the asshole CEO stood up and lied his ass off?
I did.
True that... but there is a precedent, they should be able to get most of it back
"US firm forced to return Spanish shipwreck treasure it discovered worth more than $500m (but at least the Spanish military is paying for its transit)"
http://www.dailymail.co.uk/news/article-2103972/Spain-sending-military-p...
It is returning to the Fatherland via Zeppelin, safest way to get it there unmolested.
Zeppelin accident, bitchez!!!
Into the deepest trenches of the Atlantic...
Who needs tungsten when planes can crash and boats can sink?
Germans should bring it back one ounce at a time, after transfer (one ounce per German passport) at a Bundesbank facility rented in NY [where the transfer and confirmation of authenticity would occur].
The tungsten will be sunk in a cruise ship hijacking. The gold will be safe.
Be careful there Big's...if you press their nose to close to the mirror of their souls they can't see themselves very clearly...lol.
Or...you'll be accused of being razzzist...or sumpin.
///////////////
What? ;-)
Big Buba boating accident ?
Demented minds think alike!
The gold tungsten goes on a cruise ship accross the pond. Muslims hijack it, kill everyone on board, and sink it. All according to plan.
Google translate:
Make the lie big, make it simple, keep saying, and eventually they will not believe it.
Learn to use google translate: "Make the lie big, make it simple, keep saying, and eventually they will not believe it."
Learn to use google translate: "Make the lie big, make it simple, keep saying, and eventually they will not believe it."
What has happened within the last 3 months? Lets take a look....
1) German elections are coming up. Merkel wants to keep her job. She does not want the gold storage issue to be held against her as a political weapon, so she will now use this issue to her advantage. Many Germans want their gold home. If Merkel gets the bulk of German gold back home under her current term, she will get all the glory, proving she takes the concerns of Germans seriously, and in doing so, win an additional term in office. Frankly, it´s a brilliant political move.
2) The question Eric Sprott asked recently, "Do western banks have any gold left???" has caused alarm bells to ring even louder within the CDU (Merkel´s political party), especially since German parlimentarians were all but rebuffed last year from requesting to inspect German gold deposits. Buba´s efforts to calm the lawmakers by announcing a 50 ton "inspection" withdraw each year for then next 3 years, has utterly failed. The behind the scene pressure on Buba must have been enormus, especially in-light of unprecedented levels of gold purchases being made from nations around the world, as well as the recent schock Austria just had when it found out that a huge portion of it´s national gold had been leased out.
3) Obama has been re-elected. The uncontrolled spending within the US continues. The US is monitizing it´s debt to the tune of $85 billion per month. The stability of the US financial system is uncertain. The risk keeping so much gold within the US has become untenable.
Piers Morgan has absurd and insulting one liners to deal with these problems.
+1
The Germans would be insane to leave anything in the USA. I think the large corporations may start seeing Obam as a major liability and bad for business because the USA and the world are going to go up in flames soon.
It looks like the truth about Benghazi is slowly oozing out. Retired four start admiral James Lyons is telling the same story. The retired and ex-intel people know the USA is going to go up in flames. This is going to get a lot worse.
http://lamecherry.blogspot.com/2013_01_14_archive.html
LOL! Full RETARD.
Thanks God, that all German nuclear stations are inland!
Spain installed imbeciles as kings before its fall, the inbreeding of royalty creating people who were seriously ill, sexually perverse and unstable. Same in the U.S. The inbreeding created W and O - that spells woe. Down we go.
ya right,all spanish kings where imbeciles......learn your history you pheasant.
Sounded more like a quail to me.
Quayle
well done
Dennis Gartman says gold is in a bear market. He gets lots of airtime, so he MUST be smart.
He does reach arounds and he squeals like a pig on request. POS. In my opinion.
1) If you were anticipating a major global "re-alignment" within and between financial and economic structures and organizations...
2) AND you were concerned to have the best negotiating position as these new arrangments are worked out...
3) AND you, as well as all the other central players, consider PHYSICAL GOLD to be central to the establishment of those multi-lateral relationships...
4) AND you would like to ASSURE that whatever PHYSICAL GOLD is accounted to your national patrimony is WITHOUT DOUBT AVAILABLE to establish said new relations...
5) AND you felt that there were some question as to the ABILITY AND WILLINGNESS of those who CURRENTLY POSSESS YOUR NATION'S PHYSICAL GOLD to agree to your future requests to return said PATRIMONY...due to the MAJOR DETRIMENTAL EFFECTS SUCH A REALIGNMENT MIGHT HAVE ON THOSE IN CURRENT POSSESSION of your nation's patrimony...
6) ...... you might consider getting when the getting is good......
7) after having assured that you had adjusted you portfolio in such as way as to benefit most handsomely from the convulsions which might arrise from such actions...
I can think of at least 16Trillion more reasons!
It says: "Make the lie big, make it simple, keep repeating it, and eventually they will not believe it."
Refers to people's Normalcy Bias. Politicians and (other) scam artists make constant use of this principle.
Costa Concordia’s Captain Francesco Schettino was chosen to ship the gold to Deutschland.
“The Costa Concordia disaster was the partial sinking of the Italian cruise ship Costa Concordia[p 1] when it ran aground at Isola del Giglio,[p 2] Tuscany, on Friday the 13th of January 2012 with the loss of 32 lives. The ship, with 4,252 people from all over the world on board, was on the first leg of a cruise around the Mediterranean Sea starting from Civitavecchia in Italy when she hit a reef during an unofficial near-shore salute to the local islanders. To perform this manoeuvre, Captain Francesco Schettino[p 3] had deviated from the ship's computer-programmed route, claiming that he was familiar with the local seabed.”
http://upload.wikimedia.org/wikipedia/commons/8/8c/Collision_of_Costa_Co...
http://en.wikipedia.org/wiki/Costa_Concordia_disaster
Sounds like the ghost of Joseph G is out and about here...
"Gold talks .... bullshit walks !" Monedas
We can triple our reserves by printing two more of those
The algos must be asleep (Yeah right!!) because after this Gold is falling WITH the Dollar. JPM must be awake?
Gold is up, bitchez!
Gold is gone, bitchez!
stand for delivery (bitchez).
Bernanke should get one of those new 3D printers...
For printing Trillion Dollar Platinum coins??
Maybe print some replacement bars too...the technology is getting pretty incredible but I don't think they are there yet.
Waiting for the Apple Alchemy App.
Pssst! Chavez sent me.
More like a suitcase full of IOUs.
Written in platinum ink...
Here's where they got the idea...
http://www.youtube.com/watch?v=7GSXbgfKFWg
I guess you were refering to Fort Knox. That fort should be re-named. Fort Nix is more appropriate.
"There's a single piece of paper in Fort Know......I has three letters on it......IOU."
There are approximately $1.16 Trillion Fed notes in circulation with the same letters on them; invisible but indellibly marked just the same.
The same IOU that the Social Security accounts have also.
they're trying to find it anywhere now
http://sellyourgoldteeth.com/
Once we have jumped the shark Keynes/Nixon style, what is left?
Let the show begin! Good luck trying to get it all back Germany! Price of gold is going much much higher.
http://schiffblog.blogspot.ca/
https://petitions.whitehouse.gov/petition/perform-assayed-public-audit-all-treasurys-claimed-8100-tons-gold-and-net-swaps-loans-sales/rGyFTLwD
Fuck It!
Give 'em shares of GLD
!! LOL.
New York.......we have a problem.
Plugs being pulled, Bitchez!
Gonna be a late night at the BIS. Better order in some pizza.
Good compendium articles about China redeploying its reserves into offshore companies as Bloomberg reminds everyone that the now C/A deficit Japan will be the Treasury buying savior...Next article will be how the demand for the forthcoming floaters is epic
China reserves
http://www.bloomberg.com/news/2013-01-14/china-to-use-forex-reserves-to-...
Japan
http://www.bloomberg.com/news/2013-01-13/abe-aids-bernanke-as-japan-seen...
china please dump the fuckin usd!
Funny. If they did that you couldn't afford that hot icon unless you gave up your rent & food money.
On the other hand , there would be plenty HERE...
Anchovies BITCHEZZ!
Anchovies BITCHEZZ!
Double anchovies 'r gonna cost ya.
Makes you reallly want to hold on to your puny silver rounds. Don't forget, 2000 years ago you could end the life of a God for only thirty of 'em. Now that's some real purchasing power.
Imagine what could be done with 3,396 tons of gold...
Shit is hitting the fan.
That's a lot of metal to print!!!!
Yes, if this really happens, then yes... this is a big SHTF deal. Germany (on paper) is 2nd largest holder of physical (albeit in foreign banks). This could be the start of a run.
unlike the comex, this will be harder to settle in currency.
Hey I did the math once on those 30 pieces of silver, most likely Ag composition...13.50 OZT IN TOTAL!
Actually it's a lot less than 30 silver rounds .... see the math on Judas and Jesus.
is that
before or after taxes...
good pay for roman troops!
Someone should be commended for thinking this through; however, $21.00 for 20 loaves of bread? $1.05 per loaf?
Was three or four bucks the last I noticed.
Was bread really a dollar a loaf just eight years ago?
I was making triple what I am now, and spending half on things like pizza, cigs, gas...
That was only 18 years ago.
The two biggest supermarket chains in Oz sell loaves of homebrand sliced for $1.00. Casual wages for cleaners here range from $20 an hour to $26.40 an hour for one Filipina friend. Life is good for the lower middle/working class here at the moment.
Rhino from wiki, and my point earlier "The Tyrian shekel weighed four Athenian drachma or about 14 grams"
13.50 ozt silver....got silver? 31.25x13.50=$422 today silver has devalued by 80+% using your points.
"Imagine what could be done with 3,396 tons of gold... "
I see a tragic ending to the ship that transport all that gold tungsten across the Atlantic... I hear the Federal Reserve is looking for a group of sailors for the sucide mission. Any Volunteers?
I'm good at underwater recovery...but my labors not cheap ;-)
I is not free -- I is expensive! -Firesign Theater
I don't see them having trouble manning it. Have you ever read about the Bismarck?
Ze Germans are not afraid of some blood.
War with Germany?...Germans = Al Qeeeuuudahhh
Does that mean we're going to supply them with weapons, too?
We will supply the German "rebels" with weapons so they can overthrow the tyrannical Angela Merkel regime.
I can see it now: The warming oceans cause an old WW11 mine to float to the surface over the deepest trough in the Atlantic. How ironic, the news story will read, that a ship of the German Navy was lost due to an old Nazi anti-ship mine. Furthermore, the US had included all its own gold for safekeeping at Ramstein. What an unfortunate end to all that barbarous relic.
Ironically the Bundesbank may not recognise any downside in their decision, they don't think it is a prisoners' dilemma. When the whole house of fiats has fallen it will be clear in retrospect.
@UnpatrioticHoarder
Yeah, but the first one to sell is generally the last man standing.
Yeah, they are probably clueless.
Being able to print trillions of dollars without causing inflation takes no skill, none. Easy as shit.
Yupp, its all just one HUGE fucking coincidence.
Yupp Yupp, no worries!
Nothing sinnister going on here. Juuuuuust cluelessness.
They’ve probably never even heard of the prisoners dilemma! HAH, what a bunch of clueless fucks! This will teach them fuckers!
Just wondering out loud here, but aren't the words Bundesbank and Rothschild both Germanic in origin?
funny you should ask,
City of London, *nods*
it's good to be the king
Makes a lot of sense.
Certainly, there is no reason to have any faith in the nonsense that emanates from the despot's regime on a daily basis.
There's more where dis came from..........TRUST US
There was still some Libyan gold left over after sending Chavez back 'his' gold.....
I wouldn't want to be last in line asking for 'my' gold back..... sooner or later tehy ARE going to run out of gold to steal and then.... tough luck as the charade collapses...
No problem Germany, here is a huge wad of green pieces of fiat, we reserve the right to settle in paper. Go out and buy your own gold somewhere else. LMAO
Who wouda thought. Zee Germans.... Bloody Terrist! I for one, welcome the imminent declaration that they are now part of the new AXIS of EVILTM. How else can one explain their untrusting and declaration of financial WAR on the reserve currency of the FREE world.
I assume the 1st Armoured Division will be rolling back into Frankfurt this time.
/Sarc tag.... for those without a (sense) of humour.
3,396.0 German Tons of Gold
45.0% Stored at the New York Fed
1,528.2 Tons at NY Fed
305,640.0 Pounds at NY Fed
4,890,240.0 Ounces at NY Fed
489,024,000.0 ETF Equivalent Ounces
$1,671.0 Spot Price of Gold/Ounce
$817,159,104,000.0 ETF Equivalent to 'disappear'How the Germans gonna react when Corzine tells 'em "it just vaporized"?