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It Will Take The Fed Seven Years To Deliver 300 Tons Of German Gold

Tyler Durden's picture





 

With the market yet another algo-controlled snoozer, programmed to close the S&P just green (as otherwise confidence in central planning may fail), the key things we learned today are as follows:

Obama proposed 23 "gun controling" executive actions, which do little to actually control guns - that part falls to Congress, where the proposal will be promptly killed - but which will add some $4.5 billion to US spending, and which will "push for further action on his health care law, including insisting on the kind of mental health coverage states must provide under their Medicaid programs."

The breakdown of the spending is as follows, per Weekly Standard:

  • $4 billion for the president’s proposal “to help keep 15,000 cops on the streets in cities and towns across the country.” (That is roughly $266,000 per police officer.)
  • $20 million to “give states stronger incentives to make [relevant] data available [for background checks] … “$50 million for this purpose in FY2014”
  • “$14 million to help train 14,000 more police officers and other public and private personnel to respond to active shooter situations.”
  • “$10 million for the Centers for Disease Control to conduct further research, including investigating the relationship between video games, media images, and violence.”
  • $20 million to expand the National Violent Death Reporting System.
  • $150 million to “put up to 1,000 new school resource officers and school counselors on the job.”

What can one say: politics, fully, theatrically and embarrassingly "endorsed" by the children sitting behind the president.

* * *

But the biggest news of the day comes from the official Buba announcement that, in its official capacity as a prudent central bank, it - as first of many - is looking to repatriate some 300 tons of gold from the New York Fed. That, however, is not today's news - that was Monday's news.

What is news is that courtesy of the supplied calendar of events in the Buba statement, it will take the Fed some seven years to procure Germany's 300 tons of gold. This is the same Fed that, in its own words, holds some "216 million troy ounces of gold" or some 6720 tons, in its vault 80 feet below ground level.

Putting the above in perspective, the amount of gold that Germany will have to wait 7 years for is shown in red. The amount of gold the Fed supposedly holds, is shown in yellow with a shade of tungsten. Why it will take the Fed 7 years to part with an amount of gold that is less than 5% of its total holdings is anyone's guess...

unless of course, the bulk of the gold in the column on the right has been rehypothecated numerous times to serve as collateral for countless counterparties, and it is no longer clear just who own what to anyone.

* * *

We can only wonder how many centuries it will take the New York Fed to deliver all the gold held by third parties in its vault, once the demand notices start rushing in...

For all those curious how the Fed itself describes the gold vault and its contents, can read more in the pamphet below:

 

 


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Thu, 01/17/2013 - 03:41 | Link to Comment _underscore
_underscore's picture

Has anyone considered the much more significant possibility that the Fed (and B de France) does have (all of) the gold, but won't return it in less than 7 years?

Has, in fact, the timetable for reserve currency change just been given to us?

 

 

Thu, 01/17/2013 - 09:59 | Link to Comment Disenchanted
Disenchanted's picture

Stolen gold you say...

 

 

Gold Warriors - The Vulcans - Murdering Liberty and Killing Hope on 911

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Preface: Massive Fraud Leads To Murder


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Thu, 01/17/2013 - 07:04 | Link to Comment samwell
samwell's picture

Oh, but its just a coincidence that France is now "suddenly" invading Mali whose anual production could sure help the "French" out right about now.

 

et tu vichy "french", Federal Reserve.

 

 

Thu, 01/17/2013 - 08:17 | Link to Comment TWSceptic
TWSceptic's picture

This reminds me of Die Hard 3 but in the opposite direction, if you know what I mean...

Wed, 01/16/2013 - 18:20 | Link to Comment sotto
Wed, 01/16/2013 - 18:25 | Link to Comment freedogger
freedogger's picture

They are just waiting for the right asteroid to fly by. Then they will mine it. I am not making this shit up. http://www.planetaryresources.com/

Seven years seems optimistic.

Wed, 01/16/2013 - 18:50 | Link to Comment Winston Churchill
Winston Churchill's picture

So the FedRes will be buying forty three tons a year.

Just low enough to not upset the physical price,maybe ?

Got to get it from somewhere,sure as hell isn't in the vault.

Wed, 01/16/2013 - 18:55 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

It's not Germany's gold right? It's the German bankster's gold and they are in on the fiat ponzi as well.  Let me do some quick cocktail napkin math.....I believe we have 7 more years of fiat ponzi.  

Wed, 01/16/2013 - 18:19 | Link to Comment AgLand
AgLand's picture

Takes a lot of work to make that tungsten look real you know!

Wed, 01/16/2013 - 19:21 | Link to Comment XitSam
XitSam's picture

Nonsense. The Chinese can knock that out in 3 weeks. With discount for large orders.

Wed, 01/16/2013 - 18:20 | Link to Comment michiganmaven
michiganmaven's picture

they have to wait 7 years so they hope they forget they asked... that way the Feds ponzi stays up a while longer... 

Wed, 01/16/2013 - 18:22 | Link to Comment Spider
Spider's picture

Well hopefully someone can remind the Fed that the bars they should give the Germans should be yellowish-gold in color rather than red.  Dont blame the Fed ... they probably havent seen a real one in a LONG LONG time

Wed, 01/16/2013 - 18:22 | Link to Comment Super Broccoli
Super Broccoli's picture

that makes 117KG a day ... they're moving the shit using a single cessna ?

Wed, 01/16/2013 - 18:22 | Link to Comment lolmao500
lolmao500's picture

15 000 new dog killers/enslavers aka cops is a waste of money... and I'm being kind.

Wed, 01/16/2013 - 18:22 | Link to Comment Lukacko
Lukacko's picture

Looks like we finally got a general economic collapse timeframe. Sometime within 7 years. Because after that it won't matter whether Germany gets its gold or not.

Wed, 01/16/2013 - 18:27 | Link to Comment CPL
CPL's picture

See why everyone has been stalling for time yet?

 

It's time for the cheque to get paid and everyone is broke.

Wed, 01/16/2013 - 18:37 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Mighty awkward around the ol' TGI Friday's table ... say, who ordered the molten chocolate cake?  Wasn't me ... you had two drinks?  I only had one ... hey guys, just give me some cash, I only have a credit card ... oh, no, I can't break a fifty ... wait a second I'm short ...

Wed, 01/16/2013 - 22:16 | Link to Comment secret_sam
secret_sam's picture

I'd like to inquire about 7 year calls, plz.

Wed, 01/16/2013 - 18:40 | Link to Comment Citxmech
Citxmech's picture

7 years to the zero hour?

Great!  I should be fully prepped by then.

Thu, 01/17/2013 - 00:19 | Link to Comment Oldballplayer
Oldballplayer's picture

Isn't that when you order another round for the table?

Thu, 01/17/2013 - 05:33 | Link to Comment Clashfan
Clashfan's picture

Now that's optimistically funny. Oh, wait...

Wed, 01/16/2013 - 20:05 | Link to Comment Winston Churchill
Winston Churchill's picture

Make that sometime in the next two.You get nothing ,Kraut MFers..

What happened to the other 1000 tons they have in the NY Fed ?

They want their gold back, and are offered a quarter of it over seven yars.

Whats wrong with this picture ?

Surely JPM will give it back,they only borrowed it.

Thu, 01/17/2013 - 09:03 | Link to Comment e-recep
e-recep's picture

the kondratieff wave suggests big change around year 2020.

Wed, 01/16/2013 - 18:23 | Link to Comment emsolý
emsolý's picture

Hell, I can get you a toe by 3 o'clock this afternoon... with nail polish. These fucking amateurs...

Wed, 01/16/2013 - 18:23 | Link to Comment backhandtopspin...
backhandtopspinslicer's picture

no conspiracy theory here -- they get paid by the hour

Wed, 01/16/2013 - 18:24 | Link to Comment lolmao500
lolmao500's picture

Germany should tell Ben to go fuck himself and that if he doesn't bring it WITHIN A MONTH, ALL OF IT, the GERMAN ARMY is gonna take care of business, they gonna bring back all of the gold PLUS expenses, PLUS the head of Bernanke back to ze motherland.

Wed, 01/16/2013 - 18:27 | Link to Comment Super Broccoli
Super Broccoli's picture

i'm in !!!!! as long i get to play with Benrnake's head on a stick i'll sign in the army righto !!!!

Wed, 01/16/2013 - 19:03 | Link to Comment tenpanhandle
tenpanhandle's picture

somehow I get the idea your play is going to involve a teabag.

Wed, 01/16/2013 - 22:19 | Link to Comment secret_sam
secret_sam's picture

They're going to have to conquer Poland and France before they get OUR attention.

Wed, 01/16/2013 - 18:23 | Link to Comment deejo
deejo's picture

I know this, because tyler knows this

Wed, 01/16/2013 - 18:31 | Link to Comment lolmao500
lolmao500's picture

We are all Tyler!

Wed, 01/16/2013 - 18:23 | Link to Comment JohnG
JohnG's picture

 

 

At least it only costs $5 to dig it out of the ground.

(RIP MethMan)

Wed, 01/16/2013 - 18:24 | Link to Comment backhandtopspin...
backhandtopspinslicer's picture

never mind -- we'll come get it ourselves

Wed, 01/16/2013 - 18:25 | Link to Comment yogibear
yogibear's picture

Bernanke and the Fed are panicking to get the gold. They will take 7 years too divert other gold to the Germans.

LOL, the Fed doesn't have it.  We have been using it to mint Gold Eagles......

Germans must have "SUCKERS" written on them.

Wed, 01/16/2013 - 18:26 | Link to Comment backhandtopspin...
backhandtopspinslicer's picture

that is almost as bad as getting some pan am silver from the northwest mint

Wed, 01/16/2013 - 18:42 | Link to Comment Citxmech
Citxmech's picture

LMFAO.

They do keep you on the edge of your seat, don't they?

Wed, 01/16/2013 - 18:26 | Link to Comment Lendo
Lendo's picture

That flyer is hilarious because it's complete bullshit. 

Wed, 01/16/2013 - 18:26 | Link to Comment spinone
spinone's picture

It will take 7 years to move 1 ton back and forth from NY to Frankfurt 300 times.

Wed, 01/16/2013 - 18:31 | Link to Comment fuu
Wed, 01/16/2013 - 19:28 | Link to Comment The Gooch
The Gooch's picture

Your taste is impeccable and I raise you ten, under the cover of darkness. Ground Zero 33 Liberty St.

Wed, 01/16/2013 - 19:36 | Link to Comment fuu
Wed, 01/16/2013 - 22:26 | Link to Comment secret_sam
secret_sam's picture

+ 1

As much as I love this, I feel compelled to point out that that top horizontal pixel is permanently altering your brainwaves upon exposure...

 

Wed, 01/16/2013 - 18:26 | Link to Comment giggler123
giggler123's picture

Before that happens they will pull another 911 for sure but this time it'll be in the places where the gold is stored.  No one wants nuked gold?  At the same time elevating everyone elses gold not stored their to the roof.  That is not fact, this is not what might happen, it will or war which is better?

Wed, 01/16/2013 - 22:15 | Link to Comment Argentbilly
Argentbilly's picture

There were gold vaults in the subfloors of WTC.

Wed, 01/16/2013 - 18:27 | Link to Comment backhandtopspin...
backhandtopspinslicer's picture

benny at the fed be saying It is not our tradition to give back gold

Wed, 01/16/2013 - 18:28 | Link to Comment busted by the b...
busted by the bailout's picture

They will need to mint up a few more 1oz platinum coins first to get the cash to buy the gold.

You didn't think it was in a lockbox did you?

Wed, 01/16/2013 - 18:29 | Link to Comment Super Broccoli
Super Broccoli's picture

Germany : "ze want our gold back"

Bernanke : "don't you want nice a trillion platinum coint instead ?"

Wed, 01/16/2013 - 19:59 | Link to Comment are we there yet
are we there yet's picture

Perhaps we can interest you in some tulips for repayment.

Wed, 01/16/2013 - 18:29 | Link to Comment urbanelf
urbanelf's picture

They have to buy it from me before they can give it to Germany.

Wed, 01/16/2013 - 18:29 | Link to Comment dolph9
dolph9's picture

The Fed doesn't have the gold, it will have to buy it on the market.

It will do so over 7 years so as to not cause any price spikes.

Both the Germans and the Fed know this, of course.

Wed, 01/16/2013 - 21:35 | Link to Comment DaveyJones
DaveyJones's picture

and many other ugly truths

Thu, 01/17/2013 - 00:55 | Link to Comment tip e. canoe
tip e. canoe's picture

wonder how that DB bldg demo is going

Wed, 01/16/2013 - 18:29 | Link to Comment backhandtopspin...
backhandtopspinslicer's picture

benny has a new hobby of tweeting that is gonna keep him busy for awhile

Wed, 01/16/2013 - 18:31 | Link to Comment A Lunatic
A Lunatic's picture

Germany's gold must be on the bottom of the stack.

Wed, 01/16/2013 - 18:33 | Link to Comment tsuki
tsuki's picture

Don't give them any excuses. 

Wed, 01/16/2013 - 18:32 | Link to Comment backhandtopspin...
backhandtopspinslicer's picture

time to make the donuts

Wed, 01/16/2013 - 18:33 | Link to Comment backhandtopspin...
backhandtopspinslicer's picture

tell me again why you want your gold back? and exactly what did it look like?

Wed, 01/16/2013 - 19:37 | Link to Comment knukles
knukles's picture

Yellow?
You said it was shiny yellow?
Nope, ain't seen anything like that around here in a long while.
What?  When?
Oh, they shipped somethin' like that to London years ago.  Some bucktoothed funny takin' pansy ass guy came and got it...
You OK?
Mister?
Wake up, mister!
Somebody call a doctor!

Wed, 01/16/2013 - 18:34 | Link to Comment ian807
ian807's picture

I think the Germans wanted verification as to the presence or absence of gold holdings at the federal reserve.

They got their verification. 

Between that and the refusal to audit, the situation is clear enough. Now what? Accuse the fed of fraud and end it? You can end the fed and replace it with.... what? Congresscritters? Perhaps it's the lesser of two evils, but not by much.

And the gold is still gone.

Wed, 01/16/2013 - 18:59 | Link to Comment mr. mirbach
mr. mirbach's picture

I have been saying that there is no gold for many years now,  maybe some one will start to question the official story...

The only gold in Fort Knox is the wash on the tungsten bars.

Wed, 01/16/2013 - 18:38 | Link to Comment Super Broccoli
Super Broccoli's picture

let's put this into perspective :

It's like having $1.500 on your bank account, requesting the bank all of it ... and ending up with the bank agreing to give you $300 over the next 7 year -.-

Don't know about you but if my bank does that to me i'll beat the shit out of the bank manager, burn the bank and put a sign on it that says : "don't ever fuck with me again suckers !"

Wed, 01/16/2013 - 18:45 | Link to Comment 11b40
11b40's picture

....and then you will go to jail, where you will never again see fresh borccoli.

Wed, 01/16/2013 - 18:39 | Link to Comment sadpanda
sadpanda's picture

I think I saw somewhere that Mali's 3rd leading export was gold. U.S and France owe Germany gold. U.S and France have had joint military operations around that area. I'm sure there's a good reason for it. Probably no connection.

Wed, 01/16/2013 - 18:54 | Link to Comment Citxmech
Citxmech's picture

I just read they produce 50t/year. . . Hmm.. .  (does some math in head)

No, I'm sure that's a complete coincidence.

Wed, 01/16/2013 - 19:23 | Link to Comment Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Yeah.  Gotta be a coincidence.  Obama, being an African native, wouldn't hose fellow Africans out of their gold, no way, no how.

Wed, 01/16/2013 - 21:38 | Link to Comment DaveyJones
DaveyJones's picture

be fair, he's an equal opportunity hoser

Wed, 01/16/2013 - 18:37 | Link to Comment Whiner
Whiner's picture

Layaway plan, Bitchez!

Wed, 01/16/2013 - 18:45 | Link to Comment Yen Cross
Yen Cross's picture

Who cares?...  This shit is like using oscillators & trendlines<> Old News.

This crap, is right up there with telling me I have to register my Metal.

 SERFS , BANKERS < Enforce it Bitchez!  This country is a fucking slum, and the amounts of $ people make in 5-10 minutes is obscene.

  XAU Drones Bitchez. > forward.

Wed, 01/16/2013 - 21:49 | Link to Comment awakening
awakening's picture

Your losing your touch Yen.

No gold in the hands of the US Federal (they still call it Federal, lol) Reserve Bank means no confidence in the USD; because this lack of confidence literally is THE END to 'Full Faith and Credit' of said dollars by the USG (can't trust them with my gold = can't trust the value of their currency = bye-bye Global Reserve Currency status).

Wed, 01/16/2013 - 22:11 | Link to Comment Yen Cross
Yen Cross's picture

Don't care. I'm playing this "price action ponzi scheme" for all it's worth. I lost touch in 2001. I suggest you do the same.

Wed, 01/16/2013 - 22:57 | Link to Comment awakening
awakening's picture

I suppose we both have a different means to the same end (presuming your putting some of your winnings in the 4X game into something more tangible), though I too did indeed lose (what little I had to begin with) my touch in 2001 (2 planes, 3 building collapse, I was never good at math obviously) when I first distrusted the USG then later followed the money down a path best illuminated in the ZH Archives.

edit: btw I didn't downvote/junk you.

Wed, 01/16/2013 - 22:57 | Link to Comment secret_sam
secret_sam's picture

It's not like anyone would ever pick up a GUN to try to enforce a contract.

Wed, 01/16/2013 - 18:39 | Link to Comment blu
blu's picture

Bernanke to BuBa: Either you wait 7 years because I say so, or else send over your navy if you have one. Either way is fine with me.

Wed, 01/16/2013 - 18:44 | Link to Comment Super Broccoli
Super Broccoli's picture

no i believe it was more like :

"either you wait 7 years, either i go bust and you'll get none of it"

And as for the US military might well they better quit the emperialist crap righto. With half of the world dreaming to nuke them, they probably can't offer to have the other half (which actually has the nukes) doing it

Wed, 01/16/2013 - 18:39 | Link to Comment Its_the_economy...
Its_the_economy_stupid's picture

Ben Had a dream. He could not understand its meaning. He brought in the wisest men of the realm (economists w PhD's), but none could decipher it. He dreamt of 7 skinny cows eating 7 fat cows, yet growing no fatter. What could it mean?

Wed, 01/16/2013 - 19:03 | Link to Comment Umh
Umh's picture

Mad cow disease.

Wed, 01/16/2013 - 22:00 | Link to Comment akak
akak's picture

The skinny cows were bullemic.

Wed, 01/16/2013 - 19:47 | Link to Comment Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Bovine tapeworm.

Wed, 01/16/2013 - 19:53 | Link to Comment Unprepared
Unprepared's picture

The Krug: According to Keynesian book of Dreams, there will be 7 years of debt monetization and Fed BS expansion followed by 7 years of hyperinflation, asset impairement and debt destruction. Biflation would then sweep the land.

The Bernank: So what do you advise?

The Krug: Print, print, print.

Thu, 01/17/2013 - 02:30 | Link to Comment DeadFred
DeadFred's picture

It means with a little bit of cunning you can get a whole country to sell themselves into debt slavery. At least that's what happened to first time that dream went around.

Wed, 01/16/2013 - 18:40 | Link to Comment godzila
godzila's picture

Just out of pure academic interest :) what is the preferred method of moving such significant amount of gold over the Atlantic ? Airfreight ? Surface ? What would be the cost to the BUBA. Finally any word on quality control of the delivered goods ?

Wed, 01/16/2013 - 18:46 | Link to Comment Super Broccoli
Super Broccoli's picture

well seing the "speed" of it ... they apparently opted for camel's back

Thu, 01/17/2013 - 13:59 | Link to Comment PrintemDano
PrintemDano's picture

Turtle,  Sea Turtle

Wed, 01/16/2013 - 18:40 | Link to Comment lolmao500
lolmao500's picture

Germany : Ve vant ze money, Bernanke.

Bernanke : Look, pal, there never was any money. The big Obama gave me an empty briefcase, so take it up with him, man.

Germany  : Ve don't care. Ve still vant ze money, Bernanke, or ve fuck you up.

Wed, 01/16/2013 - 18:41 | Link to Comment reader2010
reader2010's picture

Take your PAPER GOLD instead.

Wed, 01/16/2013 - 18:41 | Link to Comment TheObsoleteMan
TheObsoleteMan's picture

This is the "Emperor has no clothes" moment I have long awaited for. No need to audit the gold in Fed vaults, West Point, or Ft.Knox. THE US HAS NO GOLD. They have been playing liars poker, and have just been called.

Wed, 01/16/2013 - 18:46 | Link to Comment lolmao500
lolmao500's picture

Don't worry, the confiscation of private gold in the US will begin shortly... to pay Germany.

Wed, 01/16/2013 - 18:47 | Link to Comment yogibear
yogibear's picture

That's right. Like every other Ponzi (Fractional Reserve) they have been playing. They have been doing it with gold. Indeed the emperor has no clothes. They will have to buy what's needed on the open market or confiscate it.  

Wed, 01/16/2013 - 18:59 | Link to Comment mr. mirbach
mr. mirbach's picture

keep an eye on tungsten blank orders/shipments from China...

 

Wed, 01/16/2013 - 18:42 | Link to Comment azengrcat
azengrcat's picture

Benank better be careful, they may send in Simon Gruber to make the withdraw.

Wed, 01/16/2013 - 18:48 | Link to Comment Super Broccoli
Super Broccoli's picture

yeah it's funny how US movies actually predict what's to happen.

Ze germen taking NY's gold, the black president, NY's destruction ...

Wed, 01/16/2013 - 18:41 | Link to Comment DeficitAlchemist
DeficitAlchemist's picture

I hope it all doesn't go by Boat, we should hopefully find some on 747's, because I know with a box cutter or two and an Israeli accent I could totally commandeer any US commercial liners 747 and rerout it and its cargo.

I could even smash the whole shebang into my basement after a complex movement of turns, to avoid the hassle of repacking it, all I need is 3 weeks of cessna training and then pretend home is the Pentagon... I will do it without brushing the rose bushes any, and all wreckage will vanish of its own accord, because this how this shit rolls, this is already proven.

Wed, 01/16/2013 - 19:03 | Link to Comment gabeh73
gabeh73's picture

You might need to call a friend to have him shut down NORAD for the day. Shouldn't be too big a deal, they don't really do much to stop planes from crashing into the Pentagon anyway.

Wed, 01/16/2013 - 18:42 | Link to Comment Wile-E-Coyote
Wile-E-Coyote's picture

We can't let you have your Gold back for security reasons.

7 yrs FFS

Wed, 01/16/2013 - 18:43 | Link to Comment PeeramidIdeologies
PeeramidIdeologies's picture

First of all this bullshit about media/video games causing violence has to stop. The world has been a violent place since before we were here, as seen in the animal kingdom. You want to stop this needless violent behaviour among the future generations (for a lot of people it too late) BE A PARENT!! There is no reason for these kids to act like this if they have someone at home to be there for them. It's. that. fucking. simple.

As for gold repatriation, I wouldn't be hoping to take any large deliveries in the future. If you don't have yours you better get on it before someone with more influence then you does.

Wed, 01/16/2013 - 18:44 | Link to Comment Racer
Racer's picture

FBRNY: They want WHATTTTT, oh sh!t , what the  F%ck do we do now?

ARRRRRGGGGHHHH we can't print gold for GARDS sakes

Wed, 01/16/2013 - 18:45 | Link to Comment sampo
sampo's picture

But, but, they're so dusty!

Wed, 01/16/2013 - 18:45 | Link to Comment Its_the_economy...
Its_the_economy_stupid's picture

Is asking for your gold akin to terroristic threatening? Can we arrest a few German Nationals for terrorism?

Wed, 01/16/2013 - 18:52 | Link to Comment Racer
Racer's picture

They could declare war on Germany because Germany is threatening the US by wanting to return it when it was confiscated Nazi gold and they have no right to it. And this amounts to a demand with menances and an act of war by Germany

Wed, 01/16/2013 - 18:46 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

Emergency ....................

 

http://www.youtube.com/watch?v=xwEyz4BuFWI

Wed, 01/16/2013 - 23:00 | Link to Comment secret_sam
secret_sam's picture

Now is ze time in Sprockets! vhen ve donce.

Wed, 01/16/2013 - 18:46 | Link to Comment semperfi
semperfi's picture

how long will it take for Netherlands to get theirs ?

HAHAHAHAHAHAHA!!!!   IDIOTS !!!!

Wed, 01/16/2013 - 18:47 | Link to Comment Coldfire
Coldfire's picture

This is as bad as it looks. In terms of real money, the Fed is broke.

Wed, 01/16/2013 - 19:49 | Link to Comment are we there yet
are we there yet's picture

The last US fed gold audit was all the way back in Eisenhower's administration. They have avoided it erer sence in vigorously lame ways ....... for a reason. It has been plundered by those with invisibility and power in an agency that has no acountability to the public.

Wed, 01/16/2013 - 18:48 | Link to Comment reTARD
reTARD's picture

It takes time to mine this stuff! Tradition takes time.

Wed, 01/16/2013 - 18:50 | Link to Comment yogibear
yogibear's picture

Ron Paul to Bernanke: "Is gold money?"

Well is it Princeton punk? Is it?

Wed, 01/16/2013 - 18:51 | Link to Comment Super Broccoli
Super Broccoli's picture

what about we give the french gold to the germen ? oh no wait, the french already asked for their gold 40 years ago and we never gave them back ...

Wed, 01/16/2013 - 18:53 | Link to Comment steve from virginia
steve from virginia's picture
"It Will Take The Fed Seven Years To Deliver 300 Tons Of German Gold ..."

 

First, the Fed has to take the SV Peking out of moth-balls.

 

Second, they have to hire and train a crew ... by sailing around Cape Horn.

 

Third ... sailing ships are very slow. Thanks for your patience!

 

 

Wed, 01/16/2013 - 18:52 | Link to Comment news printer
news printer's picture

Because:

  1. it's to heavy and trucks may brake down,
  2. ship may sink
  3. plane may fall ?

May or may not; that is the question :p

 

Wed, 01/16/2013 - 18:54 | Link to Comment q99x2
q99x2's picture

If they have to go through Blythe Masters they'll be lucky to get anything other than tungsten.

Wed, 01/16/2013 - 18:55 | Link to Comment Pairadimes
Pairadimes's picture

The interesting thing to watch for is if vault employees who may have learned too much start disappearing.

Wed, 01/16/2013 - 18:55 | Link to Comment Billy Shears
Billy Shears's picture

Then it's ours, I guess?

Wed, 01/16/2013 - 18:55 | Link to Comment 100pcDredge
100pcDredge's picture

What about platnum?

Wed, 01/16/2013 - 19:03 | Link to Comment billsykes
billsykes's picture

The US is so 3rd world- we will store your gold, not hypothcate it but it will take us 7 years or 1820 business days (not inc. holidays) to deliver it. 

Broken down this is less than 6 big bars of gold a day (1000oz). 

America the worlds largest economy, with GDP of $14 Trillion and a population over 300m people can only best Barrick gold's production by 2x?

Barrick with a market cap. of $34 Billion and 20 thousand employees?

 

The lies, fort knox is just an mushroom farm.  Bottom line is they dont have it. Good.

 

So now they have to dip into the market and buy gold. And they have to buy twice what is being put out by the largest producer of gold in real physical. 

 

Let get physical in 2013! Gold Bitchez. 

 

http://www.youtube.com/watch?v=vWz9VN40nCA 

 

 

 

Wed, 01/16/2013 - 18:56 | Link to Comment Yen Cross
Yen Cross's picture

Confucius Say / Life is really simple,but we insist on making it really complicated...

Wed, 01/16/2013 - 18:57 | Link to Comment Super Broccoli
Super Broccoli's picture

Oh i get it, it's probably just a shoe problem, look what wiki says about it :

Nearly 98% of the gold at the Federal Reserve Bank of New York is owned by the central banks of foreign nations.[9] The rest is owned by the United States and international organizations such as the IMF. The Federal Reserve Bank does not own the gold but serves as guardian of the precious metal, which it stores at no charge to the owners, but charging a $1.75 fee (in 2008) per bar to move the gold. Moving the bars requires special footwear for the staff, to protect their feet in the case that they drop a 28 pound bar on their feet.

Let's call Al Bundy !

Wed, 01/16/2013 - 19:05 | Link to Comment Yen Cross
Yen Cross's picture

 I watch "pin heads" such as yourself , when I'm not postulating my future.  The Al Bundy comment shows promise.

   FWIW, people. What can't go up, usually goes down? Balloons come to mind.  I have seen this top heavy price action many times. (most recently in the yen crosses)

Wed, 01/16/2013 - 23:08 | Link to Comment secret_sam
secret_sam's picture

A good point.  We should expect to see Au in 5% daily swings for at least a few days before the really important moves ever start.

Wed, 01/16/2013 - 19:40 | Link to Comment WTFx10
WTFx10's picture

Where do the central banks get the money to buy the gold? Oh yeah the print it. Kill the banksters and take the gold?

Central banks don't own shit cause they stole it with paper.

"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." John Dalberg Lord Acton

Wed, 01/16/2013 - 21:04 | Link to Comment W74
W74's picture

Sheeeeeet, I didn't even get boots the first day of basic training because the contract workers passing out clothes quit at FOUR O CLOCK and I was one of the last thirty or so in line.

Wed, 01/16/2013 - 18:58 | Link to Comment 100pcDredge
100pcDredge's picture

And who is willing to give the French some free uranium, s'il vous plait?

Wed, 01/16/2013 - 21:43 | Link to Comment DaveyJones
DaveyJones's picture

exactly and who just happens to have an energy system dependent on the stuff

Wed, 01/16/2013 - 19:00 | Link to Comment Dre4dwolf
Dre4dwolf's picture

7 year? hahahaha thats funny, cause I could load the gold up onto a tanker and have it there by next month, so pretty much "we don't have the gold, uh try again in 7 years" Germany got played! first by Greece than by the USA ;P

Wed, 01/16/2013 - 19:01 | Link to Comment The Proletariat
The Proletariat's picture

Dear Buba,

We apologize for the delay in your gold shipments.  Unfortunately, due to the hurricane that flooded the vault where your gold was stored, we are still efforting to gain access to the vault where your gold is located....this will probably take several years.  I'll keep you updated and we are working diligently in regards to your request for that barbaric relic.

Best,

Shalom

 

 

Wed, 01/16/2013 - 19:05 | Link to Comment grunk
grunk's picture

It's REALLY heavy, and the Fed only has one dolly.

Budget cuts, fiscal cliff and all the cutbacks.

Either that or someone ate all the gold. Or it's at the bottom of some lake.

Wed, 01/16/2013 - 19:06 | Link to Comment stant
stant's picture

its only worth 42.222 dollars a oz to the fed

Wed, 01/16/2013 - 19:54 | Link to Comment Savyindallas
Savyindallas's picture

Right  -just admit Nixon was wrong to go off the gold standard, revert back to 1971 and write them a check for $35 an ounce. What choice do they have -the Gold allegedley stored by the Fed is gone anyway  - storage fees ate it all up.  The storage firm of Goldman, Steinberg, Friedmann and Cohen has our gold. We will gladly, however, write them a check backed by federal reserve notes or the future slave labor of the American peasants.  

Wed, 01/16/2013 - 19:06 | Link to Comment dunce
dunce's picture

Could it be that after France started demanding gold in the 70s and nixon stopped converting paper to gold that most of the gold was gone then? Is this a kind of fractional reserve warehouse operation?

Wed, 01/16/2013 - 19:26 | Link to Comment InconvenientCou...
InconvenientCounterParty's picture

fictional reserve

Wed, 01/16/2013 - 19:10 | Link to Comment Super Broccoli
Super Broccoli's picture

Dear IRS officers,

I hereby inform you that i have decided to pay 20% my 2013 income taxes over the next 7 years. Please be reasured i'll keep the remaining 80% safe for you.

Best regards

Thu, 01/17/2013 - 00:06 | Link to Comment DaveyJones
DaveyJones's picture

dear taxpayer, we don't think it's safe. Don't you remember, we took your guns away in 2014?

Wed, 01/16/2013 - 19:09 | Link to Comment Its_the_economy...
Its_the_economy_stupid's picture

Germany: Please present us with your plan for re=patriating our gold held by the Fed Reserve.

Ben: Shalom.

Germany: Shalom????

Wed, 01/16/2013 - 19:10 | Link to Comment DeficitAlchemist
DeficitAlchemist's picture

Minor maths question, supposedly US had 45% of Germany's holdings (probably pulled from concentration fillings mind) and Germany has 3300+ tons... why are we just talking about 300 tons?

Wed, 01/16/2013 - 19:12 | Link to Comment Super Broccoli
Super Broccoli's picture

because if it take Benny 7 years to give Germany 300 tons back it would take 35 years for the whole of it ...

Wed, 01/16/2013 - 20:30 | Link to Comment Yen Cross
Yen Cross's picture

  Wrong! Stamps just get switched! ( Bernanke says this is our gold) BUBA shifts some deposits From another C.B. on paper and it's all good.

  If BUBA moved all their 2000+ tons of xau back it would take less than a week!

Wed, 01/16/2013 - 19:11 | Link to Comment VonSalza
VonSalza's picture

We will send some u-boats to New York to speed up the process, gib uns heute unser GOLD Schnell you tungsten cowboys.

Wed, 01/16/2013 - 19:16 | Link to Comment MissCellany
MissCellany's picture

All your golds are belong to us...

...for the next seven years at least!

Wed, 01/16/2013 - 19:18 | Link to Comment Poor Grogman
Poor Grogman's picture

When your only tool is a foot (in mouh) every problem looks like a can that needs kicking.

Wed, 01/16/2013 - 19:21 | Link to Comment jomama
jomama's picture

nyah nyah, what's germany gonna do about it?

Wed, 01/16/2013 - 19:22 | Link to Comment Al Huxley
Al Huxley's picture

The Germans have small, slow boats that they are using to move the gold from NY to Frankfurt, and that is why it is going to take until 2020.  Certainly it has nothing, NOTHING, to do with whether or not the gold is actually there.

Wed, 01/16/2013 - 19:23 | Link to Comment icanhasbailout
icanhasbailout's picture

Thank you for your money Germany!

Wed, 01/16/2013 - 19:32 | Link to Comment Al Huxley
Al Huxley's picture

Bad news for you - you don't have claim to any of that gold, it's in the pockets (ok, private vaults) of the Fed's owners.  They're the ones who should be thanking Germany.

Wed, 01/16/2013 - 19:26 | Link to Comment Pseudolus
Pseudolus's picture

Titanic 2 anybody?

(except this is going the other way over the Atlantic)

Thu, 01/17/2013 - 01:22 | Link to Comment The Heart
The Heart's picture

What a fantastic idea. Now all we have to do is figure out how to get all the important bankers, big wall street financiers, and politicians of the day on to it for the free ride.

Wed, 01/16/2013 - 19:30 | Link to Comment Kreditanstalt
Kreditanstalt's picture

"Few European nations could maintain their gold standards during World War I, however, as shipments of the metal frequently were embargoed."

Ah..., but that disingenuous statement is not the REAL reason for the demise of the gold standard, is it?  

Instead, what about "Due to the need to PRINT to fight a war, most European governments defaulted on their promise of gold convertibility in order to inflate their currencies."

Propaganda.

Wed, 01/16/2013 - 19:44 | Link to Comment steelrules
steelrules's picture

FULL FAITH AND CREDIT OF THE UNITED STATES!

 LMFAO because Chavez is.

 

Wed, 01/16/2013 - 19:45 | Link to Comment orangegeek
orangegeek's picture

"... Why it will take the Fed 7 years to part with an amount of gold that is less than 5% of its total holdings is anyone's guess.. ...."

 

Probably because the US guv is going to keep it.

Wed, 01/16/2013 - 19:46 | Link to Comment Duke Dog
Duke Dog's picture

The folks here on ZH are smarter than this. It is obvious the Bundesbank is in on this bullshit with the Fed - otherwise they would have said "we want our gold and we want it fucking now", not in fucking 2020! Bullshit to appease the german people. It is very similar to what big 0 did today - people are breathing a big sigh of relief that Obama didn't use an EO to immediately ban ARs and high capacity mags. The end result is of his actions today will do much more damage to the 2nd Amendmend right for tens of millions of Americans once every single citizen that has ever been prescribed a "mood enhancing drug", which happens to be tens of millions, are forbidden to ever legally own a firearm. 

The worst of this bullshit is right around the corner - stay awake! jd.

Wed, 01/16/2013 - 19:48 | Link to Comment enoch_root
enoch_root's picture

"Deep storage gold" ... 7 years is how long it takes to mine and refine.

Basically it is a default by any other name but that word is not mentioned in central banking anymore, where any amount of printing and appeals to latter day Keynesian "Economics" can do away with any and all defaults.

Wed, 01/16/2013 - 19:47 | Link to Comment JohnGaltsChild
JohnGaltsChild's picture

The Fed has enough gold. They just need enough tungston to plate.

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