All Aboard The Gold Repatriation Train: First Germany, Next: The Netherlands?

Tyler Durden's picture


While moustachioed managers, contrary to the far better insight of their superiors, and mainstream spivs are trying to talk down Germany's somewhat stunning shift in thinking - i.e. to repatriate its gold - as nothing but political pandering (or cost-saving); it seems, just as we predicted, the rest of the world are seeing this crack-in-the-confidence-armor the same way we have suggested. As we noted here, 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, or even the third perhaps) and sure enough, via RTL, we see the Dutch CDA party has requested that Holland's gold supply be repatriated. Who next?

The Dutch government says it has 612 tonnes of gold - with a value of around E24 billion - and is thereby in the top 10 of countries with gold reserves. The bulk of the Dutch gold reserves is in America and, to a lesser extent, in Canada and the United Kingdom. The rest, about 10 percent, is in Amsterdam.

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Wed, 01/16/2013 - 16:44 | 3159440 SpanishGoop
SpanishGoop's picture

It is all there, just try to get it back.

Good luck Gremany.


Wed, 01/16/2013 - 17:25 | 3159646 rpboxster
rpboxster's picture

Whether it's all there isn't the main takaway.  It's that the current paper system is built solely on trust, and gold repatriation is the opposite of trust.  If people start asking why CBs want their gold back, maybe they will wake up to the fact that gold is money, not the paper they've been told is money.

Wed, 01/16/2013 - 18:11 | 3159838 JLee2027
JLee2027's picture

I don't see their Gold coming back. It's gone, been sold into the market. After a loss of trust comes a widespread rejection of the US Dollar, followed by a bond market collapse is my best guess.

Wed, 01/16/2013 - 16:17 | 3159310 TrumpXVI
TrumpXVI's picture

The Dutch aren't in the same situation as the Germans.

Once the Euro dies and Europe descends into total anarchy once again and the tanks roll through the "low countries" again, then the Dutch will suddenly remember why they parked their gold here in North America.

Wed, 01/16/2013 - 16:19 | 3159313 Joe Davola
Joe Davola's picture

Wonder if the Somali pirates freelance in other territorial waters.

Wed, 01/16/2013 - 16:59 | 3159527 SilverRhino
SilverRhino's picture

That would be hilarious if another navy came in and attacked the ship.   

Modern piracy ... for 600 tons?  Yep, that would be worth it. 

Wed, 01/16/2013 - 16:25 | 3159329 Mad Mohel
Mad Mohel's picture

You know what, these dumb bastards actually don't deserve to have their gold back. Why would you willingly take your national wealth and ship it across the sea to be housed under the Schwartz. You deserve it you tulipy bastards.

Wed, 01/16/2013 - 16:26 | 3159359 inevitablecollapse
inevitablecollapse's picture

i never thought about this, but how much gold was 'repatriated' from iraq?  did they keep gold reserves?

Wed, 01/16/2013 - 16:34 | 3159394 ziggy59
ziggy59's picture

Are you implying that leaders that were put into power and position by the US no longer served their purpose as puppet leaders and somehow, somewhere the gold of Libya, Iraq, and soon Mali, are unaccounted for?

..just ask'n

Wed, 01/16/2013 - 16:42 | 3159428 inevitablecollapse
inevitablecollapse's picture

...maybe...i actually blacked out when i typed that so i have no idea where it came from

Wed, 01/16/2013 - 16:26 | 3159361 Miss Expectations
Miss Expectations's picture

When the guy holding your gold says "gold isn't money" and the only reason to hold it is "tradition" you should maybe take it out of his hands.

Wed, 01/16/2013 - 16:38 | 3159412 emersonreturn
emersonreturn's picture

miss expectations...a new golden rule?  

Wed, 01/16/2013 - 17:09 | 3159571 Clowns on Acid
Clowns on Acid's picture

(S) he who holds the gold makes the rules...? Missed Expectations.

Wed, 01/16/2013 - 16:30 | 3159379 ziggy59
ziggy59's picture

The last ones to come to this party will quickly learn of the phrase, " all that glitters isnt gold"

Love musical chairs, especially for REAL money..

Wed, 01/16/2013 - 16:37 | 3159407 Bobportlandor
Bobportlandor's picture

More like "beauty is only skin deep".

Wed, 01/16/2013 - 16:32 | 3159382 zerozulu
zerozulu's picture

If other countries asked for their Gold, most probably they will get their first installment and than,

Wed, 01/16/2013 - 16:44 | 3159433 Mad Mohel
Mad Mohel's picture

They will get installments of depleted uranium.

Wed, 01/16/2013 - 16:40 | 3159388 youngman
youngman's picture

Kind of funny but gold and silver took a little jump with this article......oops ..back down again

The funnier thing is that they do not want it in gold bars...they want it recast in gold butt plugs......that is cooler in the Netherlands...

Wed, 01/16/2013 - 16:39 | 3159420 ziggy59
ziggy59's picture

Where is The Honorable Jon Corzine to fix this mess?

Sorry...took a lot to write the adjective before the pricks name...

Wed, 01/16/2013 - 16:51 | 3159462 AgAu_man
AgAu_man's picture

The Fed:  "Easy one to solve.  We buy that gold on the open market, by printing and driving down the AU Options exactly when we buy.  Open & shut time-window, to outflank the Chinese and damn Goldbugs.  We buy over a time-frame to our liking.  The Dutch shell comply with our schedule.  QED!"

Wed, 01/16/2013 - 17:14 | 3159589 Ropingdown
Ropingdown's picture

I nominate you for the next open Fed slot.  A nation with our problems needs this sort of creative forward-looking thought.  You'll fit in if you can keep up the gag.

Wed, 01/16/2013 - 16:52 | 3159488 Paracelsus
Paracelsus's picture

How's that go? "When the tide goes out you see who has been swimming naked".

I have to say that I was somewhat dismayed when they were stress testing the European banks,and they gave a gold star to them and then they imploded a few months later (Dexia).

I am starting to wonder about all the stuff (not) in the vaults under WTC after 9/11...

This is beginning to sound like the Warren commission JFK / Oswald stuff...

I hate it when this stuff becomes mainstream,the new normal.

That rumbling sound is the founding fathers spinning in their graves..... 

Wed, 01/16/2013 - 16:53 | 3159489 geno-econ
geno-econ's picture

Trust in God, but not your Gold to the Central Bankers and the Bearded One.  Both Ben and Uncle Sam sport beards but they do not sit on the right hand of God.  They sit next to Dimon,  Blankfien and Polititians who will debase your currency and then confiscate your savings and gold sitting in their vaults and Wall St.(GDX)  Time to park your Gold closer to home with proper security against predators. The point is nobody can trust anyone anymore in our financial system which  has lost complete credibility as witnessed by budget process, deficits, fiscal cliff, tax policy, shadow bank practices, lax regulation and other contradictory national and international policies. The mess is widening exponentially  and no amount of feeble deleveraging can save us.  The Party is just starting 

Wed, 01/16/2013 - 16:56 | 3159506 paint it red ca...
paint it red call it hell's picture

I thought it telling the German press release gave a time frame of 'by 2020' instead of what they politically could not say, 'no later than next month'.

Which by the way IS by 2020............

Wed, 01/16/2013 - 16:58 | 3159524 KingTut
KingTut's picture

Who's next? Everybody.  The mad scramble is on.  This is all about the end game.  The bankers aren't stupid.  Psychopaths maybe, but not stupid.  They can see the fiat edifice is not playing by Keynes' rules, and is crumbling.  At some point in the near future, the end game will being in earnest, where fiat currencies fail.  Of course, fiat will be replaced by something else, but for survival in interim, and a a jockying position for the NWO, the yellow metal is the stuff.

Clearly, these guys didn't see any of this coming,and so don't have a clue what's coming next.  So they are hedging thier bets.  Repatriate gold? Costs nothing? Sounds good to me. Ben pissed? Well, stretch it out a little.

However, the people who predicted the collapse of 2008, and the crisis to follow, are better prognosticators than pud bankers.

Wed, 01/16/2013 - 17:01 | 3159535 ziggy59
ziggy59's picture

Heineken.. Liquid Gold

Wed, 01/16/2013 - 17:04 | 3159549 Father Lucifer
Father Lucifer's picture

Man the FED's gonna need alot more tungstun!

Wed, 01/16/2013 - 18:44 | 3160002 Dr. Sandi
Dr. Sandi's picture

That's why they're phasing out the incandescent light bulbs. That tungsten has to come from somewhere.

Wed, 01/16/2013 - 17:19 | 3159616 Jeepers Creepers
Jeepers Creepers's picture

You do wonder if some of the smaller nations keep it in the US because they also have idiot electorates eager to get their "fair share."

I mean, just like over here, I could see politicians deciding to liquidate all of their gold holdings for some short term stimulus (ie paying back the special interests that got them elected.)  Poof, and entire stockpile of gold gone to bolster up a flailing party leader.  It wouldn't be the first time.

I'm not saying the US is any better, but for a long time, we were the stable and sensible nation.  Now, it's far risker for the US to hold it.

Wed, 01/16/2013 - 17:24 | 3159639 WillyGroper
WillyGroper's picture

Suppose this is because the Treas. designated the "Reserve" @ WP to "Custodial" gold?

Wed, 01/16/2013 - 17:26 | 3159655 americanspirit
americanspirit's picture

Wow - I lived in the Netherlands for several years and I am totally amazed that the Dutch only have 10% of their gold at home - much less having so  much of it stashed with the US fed. My guess is that the Dutch public had no idea, and will be outraged at whatever politicians/bankers allowed this to happen. The Dutch are VERY serious about money and about handling financial matters properly. Just opening a bank account in the Netherlands was one of the most agonizing ordeals I've ever been through. So it will be very interesting to see the public reaaction - and my guess is that it isn't going to be 2020 before 100% of their gold is back home. In fact I'll bet a planeload of Dutch Marines ( very very tough customers) is warming up for a flight to New York at this very moment to bring it all home.

Thu, 01/17/2013 - 04:26 | 3161481 Tompooz
Tompooz's picture

That "agonizing ordeal" of opening an account in Holland was brought to you courtesy of FATCA.

Wed, 01/16/2013 - 17:50 | 3159763 Venerability
Venerability's picture

And now do we all see why the Total Ninnies had to float that ridiculous Platinum Godzilla Coin fantasy?

Those who were around in the 1997-2000 period see that History IS repeating itself - except in a creepy, crawly, and totally banal Through the Looking Glass fashion.

In the US and UK, those on BOTH fringes of economic and political reality have somersaulted out of Merely-Crazyland into 100-Percent-Deluded territory.

Oh, well - couldn't be better for Gold and Silver, which we now have a sacred obligation to explain to our Radical Middle.

Wed, 01/16/2013 - 17:50 | 3159764 daccord
daccord's picture

hot potato

Wed, 01/16/2013 - 18:03 | 3159819 frippy
frippy's picture

golden shower

Wed, 01/16/2013 - 23:24 | 3161033 willwork4food
willwork4food's picture

Wouldn't you rather play a nice game of chess instead?

Wed, 01/16/2013 - 18:16 | 3159812 DollarDive
DollarDive's picture

Algeria has a lot of gold.... more than  you'd expect.... maybe this is what everyone is after in Algeria ?

Ranked 23rd on World Gold Holdings ;



Wed, 01/16/2013 - 18:05 | 3159825 Vet4RonPaul
Vet4RonPaul's picture

Actually, no .... just because they have requested their gold back doesn't mean that they will get their gold back.  Germany, and every other country that we owe gold or dollars to, have a huge problem; they can't collect it against the USA's will and they know it.  This is whee theory stops and real politik takes over.  In theory they can get their gold back; in practice they cannot and will not.  They, like Spain and every other EU country are not allowed to cross the Atlantic without USA permission.  (That is why LA countries can nationalize EU companies also.).   So, sorry Fritz - thank-you for you request - the gold is in the mail, Love Ben.

Wed, 01/16/2013 - 19:09 | 3159859 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

The Dutch were greatly relieved to find out that most their gold is safe in..... New New Amsterdam

...and since it takes 7 years for Germany to get 300 ton,s the Dutch can expect theirs in 2027, no worries.

Wed, 01/16/2013 - 18:26 | 3159910 joego1
joego1's picture

Uncle Benny I want look in the safe please can I????

Wed, 01/16/2013 - 19:31 | 3160196 Herdee
Herdee's picture

Are foreign central banks now afraid of confiscation?That could never happen again could it?Maybe old Hugo Chavez was right to get the gold back home and out of the hands of a bunch of crooks.








Wed, 01/16/2013 - 19:46 | 3160258 goldenbuddha454
goldenbuddha454's picture

7 years to procure 300 tons of german gold?  That 300 tons of german gold is actually what they call in the BERNANKOSPHERE "transitory".  Sometimes its 300 tons and sometimes its 216 tons of U.S. Reserves, and sometimes it belongs to the Netherlands who will soon be requiring it be sent to their country to which it will take Hel0-Ben 7 years to 'procure'.  Don't you smell something in the New York Fed's pants about now?

Wed, 01/16/2013 - 22:10 | 3160802 Herkimer Jerkimer
Herkimer Jerkimer's picture

I know heavy construction and it wouldn't take 7 years to move 300 tons of steel, no sir-ee!


Put a platoon of SpecForce guys with heavy machine guns and get'er done!


Take about 2 weeks.




Wed, 01/16/2013 - 19:48 | 3160267 goldenbuddha454
goldenbuddha454's picture

When comedy becomes reality, all you can do is shake your head and laugh!

Wed, 01/16/2013 - 20:11 | 3160362 Curt W
Curt W's picture

After they all consolidate...

Will there be as much gold as they say there is?

Wed, 01/16/2013 - 21:44 | 3160681 bilejones
bilejones's picture

I think all of the gold is there, it's just that there are ten or twenty people who believe they are sole owners of each bar.

Wed, 01/16/2013 - 21:14 | 3160573 Downtoolong
Downtoolong's picture

Like musical chairs, no one wants to be the last standing request. You know what they're going to get.

Wed, 01/16/2013 - 21:54 | 3160722 GCT
GCT's picture

Dam you all do not get it Obama will do another EO under the Emergency Powers Act and confiscate all the gold stored here.  After all possession of the gold is 9/10ths of the the law!

Thu, 01/17/2013 - 00:41 | 3160785 Herkimer Jerkimer
Herkimer Jerkimer's picture





Canada is storing Dutch gold?




Scotia Macotta on Bay & King, the "Bullion Bank" or the equivalent of the Fed up in Ottawa, which is… Ummm… Ah…?


Have they rehypothicated my gold to the goddamn dyke-men?!?


Are they going to rehypoticate my BoNS gold certificates?


Will I even know?


Oh! I bought physical! Whew!





PS. How fast did Chavez get his hundred tons of gold back in 2011? Gerries want 45% of their 3400 tons, so lets say about 1600 tons. Umm… Math… Umm… 16 trips. 7 years? Where's that darn smoke machine again?


Good thing these guys aren't drug dealers. Jus' sayin'. Not that I really know how that shit works. But you know, there are some important analogies to be drawn: Show me da weed/blow/gold!


You've been holding my weed/blow/gold! Where is my weed/blow/gold! I can't see it? Oh. <Get the guns…>


Not that I really know anything about that, but it seems to be a rather good way to conduct oneself, eh?

"Oh don't worry! That's a good weigh! You don't need to scale your weed/blow/gold!"


As my Dad used to say! "Trust! But Verify!" and "In God I Trust! All Others Pay Cash!"

Thu, 01/17/2013 - 02:36 | 3161398 object_orient
object_orient's picture

Your dad was a bumper sticker?

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