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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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Wed, 01/16/2013 - 19:48 | 3160272 yogibear
yogibear's picture

The simple point of Germany wanting it's gold should be a raising a concern.

Wed, 01/16/2013 - 19:59 | 3160290 honestann
honestann's picture

Germany should say, "Fine.  The next $20-billion dollars any German company owes to any company in the USSA will instead be spent to purchase physical gold on the open market, and then put into our own gold vaults.  Once we have our 300 tons replaced, you may consider the contents of that empty vault to be entirely yours.  And BTW, up yours, liars!".

How long would it take the federal reserve to send them $20-billion dollars worth of fiat, fake, fraud, fiction, fantasy computer-bit-dollars?  Maybe 7 microseconds?

Wed, 01/16/2013 - 20:38 | 3160462 lolmao500
lolmao500's picture

If I were Germany's PM I would do something like that in a second...and I would tell all my other friends PMs to do the same... so would most people on ZH I presume... they would make sure to call Ben's BS in front of everybody.

Wed, 01/16/2013 - 22:09 | 3160798 wee-weed up
wee-weed up's picture

Ah, but they're all just as guilty as Benny-Boy!

And he knows it!

Wed, 01/16/2013 - 20:43 | 3160484 DavidPierre
DavidPierre's picture

Pretenders have a way of being found out eventually.

When the U.S. revoked gold convertibility in 1971, the bankers probably toasted each other that there could never be a bank run again.

The most recent news releases at this point say that the U.S. holds 31% of the Bundesbank's 3396 tons of gold. This is 1052 tons or 30,705,492 troy ounces which is $51.65 billion at the current market price of $1682. I also read an article in the telegraph that said the U.S. holds 66% of the Bundesbank's gold, but they may be only counting the gold held outside of Germany.

It appears Germany started its gold purchases in 1951 with a modest 1/2 tonne purchase. By 1956 they had acquired 1328 tonnes. So it would appear that some of the gold Germany plans on repatriating has been held in the U.S. since the mid 1950's.

Since possession is nine tenths of the law the U.S. could decide to return none at all. The U.S. has the military to be a thief, but a trade war with Germany would cripple us. Besides Mercedes and BMW's, Germany leads the world in all sorts of technology. 

Definitely a lot of action on the high seas coming.

A torpedo just hit the New York Fed and it was already leaking heavily.

Wed, 01/16/2013 - 20:52 | 3160514 lolmao500
lolmao500's picture

Since possession is nine tenths of the law the U.S. could decide to return none at all.

Right. Germany is part of the evil empire, it's just that the scum is fighting for who gets more power.

Wed, 01/16/2013 - 21:28 | 3160625 honestann
honestann's picture

Just because a bunch of predator-thieves once said (and repeated endlessly), that "possession is 9/10 of the law", doesn't make it the law, and doesn't make it legit.  Don't let a bunch of predatory liars and thieves tell you what is law, what is ethics, or what is right and wrong.

Wed, 01/16/2013 - 23:20 | 3161023 secret_sam
secret_sam's picture

To be just the bit pedantic about it, "possession is 9/10ths of the law" really refers to the fact that 90% of the law at the time was devoted to PROPERTY LAW.  Theft and ownership, that sort of thing.

Things like gun purchase and murder and rape just didn't take up many lines of code.  That's because the only folks who needed to argue their cases in the court were differing BUSINESS INTERESTS.

Plu de change and all.

"Property is theft.  Therefore theft is property.  Therefore this ship is mine."  --Zaphod Beeblebrox

Thu, 01/17/2013 - 04:48 | 3161497 Clowns on Acid
Clowns on Acid's picture


Thu, 01/17/2013 - 10:55 | 3162151 secret_sam
secret_sam's picture

You're pretty pathetic, bro.  Step up the game a bit, would you?

Wed, 01/16/2013 - 19:54 | 3160292 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

I'd suggest the US deliver the full 300 tons.  Tomorrow.  Fully insured, of course.

On a fleet of 8 of those new brand new Boeing Dreamliners.

Wed, 01/16/2013 - 19:57 | 3160303 jmcadg
jmcadg's picture

There will be a full page ad in the Wall St Journal tomorrow

Jobs Available:

Requirements: Being able to hold a brush.

Perks: Full employment for seven years

Apply to: The Bernanke

Wed, 01/16/2013 - 19:57 | 3160305 jldpc
jldpc's picture

A FedEx 757-300 can haul 65 tons of anything 3200 miles with a full load of fuel and a standard 2-man crew. And it is insurable, hee hee. That is a mere 5 trips to Frankfurt from NY. Who is bullshitting whom?

Wed, 01/16/2013 - 23:21 | 3161027 secret_sam
secret_sam's picture

We're sorry, those 757-300's didn't have flood insurance.

Wed, 01/16/2013 - 20:01 | 3160320 yogibear
yogibear's picture

The German Central bank doesn't trust the US Fed. Germany is shooting for a gold backed Mark.

Wed, 01/16/2013 - 20:02 | 3160322 Yen Cross
Yen Cross's picture

 German U-Boats are good at moving XAU. That load was moved to Atlantis weeks ago!

Wed, 01/16/2013 - 20:51 | 3160507 jonjon831983
jonjon831983's picture

Well they could borrow some nuclear armed Dolphins they sold Israel to transport the gold.  Don't think many would want to f around with that convoy.

"Israel Deploys Nuclear Weapons on German-Built Submarines"

Wed, 01/16/2013 - 22:16 | 3160824 Yen Cross
Yen Cross's picture

  I'm sure "Area 51" has some teleporters available during times  of "tempest"?   Just having a little fun...<

Wed, 01/16/2013 - 20:09 | 3160345 RhoneGSM
RhoneGSM's picture

But this guy says we are all batshit crazy here at ZH.  So, BUBA will read this and do an Emily Littella: "Never Mind"..

Wed, 01/16/2013 - 20:08 | 3160346 RhoneGSM
RhoneGSM's picture

But this guy says we are all batshit crazy here at ZH.  So, BUBA will read this and do an Emily Littella: "Never Mind"..

Wed, 01/16/2013 - 20:08 | 3160347 are we there yet
are we there yet's picture

Time for Heir Merkel to put on a Natzi uniform and a mustach and start making loud noises about her gold.  Or hire the cast from 'Iron Sky' a comedy where Natzi's from the dark side of the moon raviged the earth.

Wed, 01/16/2013 - 22:17 | 3160827 unrulian
unrulian's picture

...for that mustach she merely has to stop shaving for a week

Wed, 01/16/2013 - 20:09 | 3160348 RhoneGSM
RhoneGSM's picture

But this guy says we are all batshit crazy here at ZH.  So, BUBA will read this and do an Emily Littella: "Never Mind"..

Wed, 01/16/2013 - 20:11 | 3160357 DavidPierre
DavidPierre's picture


Germany and its gold

With all the chatter about the German gold and demands for repatriation, I wonder why more of the media commentary is not asking the obvious questions. I mean right off the bat the question is, why does a rich country like Germany need to hold its gold somewhere else? Is there a problem with its own custodial capabilities? I think not and this begs the question why this situation has developed at all.

Theoretically if I have $8000 in the bank, and you ask me to hold $1000 in safe keeping for you, then it should be an easy transaction for me to give you back your money anytime you wish. Where is the problem? Well, if I have spent my $8000 and also spent your money, then we have a problem indeed. This concept that Germany has asked for its gold back in instalments over several years is a clue that they know the gold is long gone.

Or, more to the point, the gold is not gone. Every bar is neatly stacked in various vaults and depositories. However, it has been sold and resold, and swapped and pledged, so many times to so many different parties, that the legitimate ownership of that gold is now in question. I believe the players involved have now come to the point where a priority is being established on who gets final claim of ownership as the game of musical chairs is coming to an end.

What if MF Global was in fact a trial balloon? What if it was collapsed and brought to light specifically to measure the intensity of the outrage from the public over such a scam? And the end result of course was a few sound bites of political showmanship and not much else. So now considering that the GLD ETF is one of the largest documented inventories of physical bullion, does anyone think it will go any other way than another MF Global scenario when the big players step up to the front of the line to get custody of the real bullion? Do people believe that countries will be denied access to their bullion held in US vaults but the inventory controlled by the GLD on behalf of small time investors will be secure? When the hedge funds and pension funds and any other players foolish enough to buy the paper variety are left with nothing to show for it, the purpose of the exercise will become clear.

I am becoming convinced that the gold remains stacked in neat piles in Fort Knox and elsewhere, exactly as it has always been assumed for decades prior to all of this circus. However what has changed is that enormous volumes of gold have been resold many times over to various owners. And if there was ever a real audit completed that documented the physical bar serial numbers, many owners would suddenly have proof that these same gold bars are being pledged multiple times. That is when the real frenzy would develop. The game can continue as long as the inventory of gold remains opaque and all of the paper claims against it remain confidential.

So to see Germany reinforcing its claim to the bullion, and doing so in a way that provides an outlet without bringing the entire scam down immediately, is just another sign that GATA has been right all along. The Chinese have this figured out too, and they are happy to unload soon to be worthless paper money for gold, and TAKE DELIVERY of that gold, thank you very much. The shills running the commodity exchanges know that claims of ownership for more gold change hands every day than than the world produces in a year, but as long as only a small amount of real bullion is actually removed from the system, the scam can go on.

Germany appears to be concerned the demand is getting close to the point that it will swamp the paper con game. This nonsense cannot go on forever. And Germany has put the system on notice that when the final accounting is done, it expects to be one of the 'owners' of that gold that actually gets to see its gold bullion delivered to them. The same way that the smaller investors were played as suckers when the rules were changed to let MF Global steal all the money, so too will the holders of paper gold be left with nothing and no recourse to do a damn thing about it.

This is a warning shot in my opinion. The gold window may be closing as a means for individuals to opt out of the criminal investment charade. When people figure out that all of the paper gold is not backed by any claim of ownership, every last ounce of gold bullion in the world will be snatched up so quickly that it will become impossible to buy any at any price shortly after. The myth of abundant stockpiles of gold or silver will be discredited so fast that people will not be able to react on the other side of this event horizon.

This is not the end of the manipulation, but perhaps we are nearing the beginning of the end.

Wed, 01/16/2013 - 20:17 | 3160377 Seasmoke
Seasmoke's picture

MF Global was in fact a trial balloon......



Wed, 01/16/2013 - 20:30 | 3160421 DavidPierre
DavidPierre's picture

So you thought that "Euro bashing" would go unanswered?



For the last 2 years or more, "Euro bashing" was all the rave. Every time the Euro would pop its head up above water, a rating agency would conveniently (and in timely fashion) downgrade one of their sovereign states.  There are basket cases throughout Europe but you must ask yourself why the downgrades always seemed so "timely"?  I as many others have, pointed to this bashing as a way to turn the spotlight away from the U.S.. It worked and quite well I might add with the exception of the summer 2011 when the U.S. squabbled over the unlimited debt limit.


The Euro is again bumping the 1.33 level at nearly one year highs versus the Dollar and the spot light is pointed squarely in the direction of the U.S.. We still have the so called fiscal cliff, sequestration and debt ceiling issues to address. They haven't gone away, won't go away and fundamentally cannot go away because in essence they are part of a bankruptcy proceeding when looked at with "reality glasses" on. Of course, Europe knows full well the "timing" of past downgrades and op ed pieces that knocked them down and then kicked them for good measure. Enter the recent news of Germany repatriating their Gold!

 BUBA (The Bundesbank) has not confirmed or elaborated the story released Monday that BUBA would begin repatriating Gold.

And yes, if true this has ALL the hallmarks of distrust amongst central banks...with very good reason!

Assuming that the story is true and Germany does proceed with recalling their Gold, this action must be seen for what it is. The obvious is the "distrust" issue but on a more subtle note...the timing? As mentioned above, the U.S. has an action packed few months ahead with its fiscal and taxation issues.

With the stage set as it is, can the timing of Gold repatriation be seen as anything other than an "answer" to the previous Euro bashing? Is Germany adding pressure to the "cooker" by taking these actions before rather than after our foolish fiscal debates? Could they have waited until after the smoke cleared? And curiously, why are they only requesting smaller amounts to be shipped annually? Is the total stash just too big, bulky and heavy to transport in one year or are they just being "polite" and not asking for it all at once because they know it isn't there?

Whatever the answers, it is clear that central banks don't have 100% trust in other central banks which can only lead to further distrust in central banks by those who use their currencies. Germany has struck a jab back at the U.S. and done it at a very opportune time. Though I'm not so sure that Germany really wants a higher Euro since that will put pressure on their manufacturing sector. Maybe, just maybe they would like to see a higher Gold price? Maybe this is being done and the timing now because "deliveries" are about to dry up and they know it. It could be that large orders are being slowed or whittled down and that is seen as a sign of lack of supply. I'm not sure what to think but action, the timing of the action and country of origin of the action is surprising, curious and should really raise the eyebrows of even the most heavily sleeping sheeple among us!

Hold that thought.



This morning BUBA announced that they will repatriate a WHOPPING 300 tons from NY...over 8 years??? 32 or so tons per year? Uh, why so little and why such a long time frame?

Chavez pulled 211 tons from London about a year ago...and did it all within 4 or 5 months. I guess they didn't want to roil the markets...or maybe this gives enough time for the metal to actually be mined and shipped? This really raises far more questions than could have been asked before their announcement.  Look at it from the "mainstream" standpoint.  I cannot reckon the logic. Of course, the mainstream never asks logical questions because the answers never add up. There is far more behind this than meets the eye. The simplest explanation is that Germany does want their Gold back, they know that it has been leased out and already sold which means it is not available for delivery They do not want to go down in history as the ones who blew up the Ponzi scheme so they are allowing "time", time to dig it up and fabricate it over 8 years. But this still doesn't account for the rest of the Gold supposedly held by the Fed... it doesn't add up and making heads or tails of it is not working.



Wed, 01/16/2013 - 23:27 | 3161037 secret_sam
secret_sam's picture

The total nihilists with the gold and the button are unmoved by your commentary.  Perhaps you could bring up good and evil or something.

But what if the markets really are *only* the margins?  Could Venezuela be edgier than Deutschland?

Wed, 01/16/2013 - 20:42 | 3160478 Atlantis Consigliore
Atlantis Consigliore's picture

Rehypothecated...and its gone...even FED sold it out. 

and the 8000 tons in Ft Knox? wheres the Yeyo?

and if anything happens to the Yeyo tony:   aiiiiiy, bobisee!!!

Wed, 01/16/2013 - 20:11 | 3160361 mariobar
mariobar's picture

Maybe they just forgot where exactly was the German gold stored. Need now to match German fingerprints or ADN on every piece.

Wed, 01/16/2013 - 20:16 | 3160373 Seasmoke
Seasmoke's picture


Wed, 01/16/2013 - 20:20 | 3160392 More Lint than Coin
More Lint than Coin's picture

You believe an official article that states"Traces of silver and platinum give

the gold a whitish shade, copper is most often foundin reddish bars, and iron produces a greenish hue."

Wed, 01/16/2013 - 20:23 | 3160400 AGORACOM
AGORACOM's picture

You're all forgetting that Hans Gruber's brother stole a boat load (literally) of the gold from the NY Fed in Die Hard 3.  Yeah, they busted him in Canada just before he took off with the loot .... but did anybody ever put it back? 

Gold bars to donuts its all still sitting in that damn warehouse.

George ... The Greek ... From Canada


Thu, 01/17/2013 - 02:00 | 3161346 cynicalskeptic
cynicalskeptic's picture

Well... it seems like they stole Libya's gold to pay off Hugo when he wanted Venezuela's gold back.....  I guess there's no easy-to-knock-off country with large enough gold holdkings to make good Germany's claim.....  oh wait - how much gold does Iran have?


If India is smart they'll triple the guards on that temple

Wed, 01/16/2013 - 20:31 | 3160431 Michelle
Michelle's picture

Of course it will take 7 years, takes a long time to mine and refine 300 tons.

Wed, 01/16/2013 - 20:34 | 3160442 El Hosel
El Hosel's picture

  Sratching Der seven year itch...Bitchez

Wed, 01/16/2013 - 20:37 | 3160457 axel_hose
axel_hose's picture


Wed, 01/16/2013 - 20:38 | 3160459 AC_Doctor
AC_Doctor's picture

The Fed has an exlcusive contract with Cash For Gold and will use these proceeds to make more salted bars for German delivery.

Wed, 01/16/2013 - 20:48 | 3160470 AgAu_man
AgAu_man's picture

I don't know if you knew, but Germans are fond of gold teeth and gold fillings.  Let's say that there are a mere 8,000,000 such people out of a total population of 85,000,000, and that each has a mere 10 grams (that's 10/31.1 of an ounce) in their mouth.  That's 8,000,000 people * 0.010 kg, or 80,000 kg, or 80 tons.

Add to this all the gold that their Mid-East and African "Refugees" possess, then you're up another 20 tons, for a total of 100 tons.

Have German dentists yet been directed by Berlin to remove all gold fillings and teeth from their patients?  It's been done before.  Just make sure it doesn't end up in Swiss vaults this time, as they are not as secure (unhypothicated) as they used to be.

Wed, 01/16/2013 - 20:42 | 3160480 axel_hose
axel_hose's picture

Maybe Germany should buy some shares of GLD. The odds of those being backed up by reall bullion are about the same as the US Depository having any real bullion. I think Goldfinger got it all.

Thu, 01/17/2013 - 03:05 | 3161419 are we there yet
are we there yet's picture

Pussy Galore in Goldfinger rehypothicated the gold.

Wed, 01/16/2013 - 20:44 | 3160485 TheObsoleteMan
TheObsoleteMan's picture

This will set off a chain reaction of gold requests from other banks. This will serve as the spark for the rocket rise in the price of physical gold. Now that the word is out, there will be a scramble for physical. I always suspected that it would not be the retail investor that would start this run, but the banks themselves. The next couple of weeks will be interesting.

Wed, 01/16/2013 - 20:45 | 3160492 lolmao500
lolmao500's picture

Is there even a list of countries that are supposed to have gold there??

The top spot is probably not Germany... Maybe the UK got even more gold there?

Wed, 01/16/2013 - 20:46 | 3160493 Michelle
Michelle's picture

Germany's gold has been leased and re-leased and packaged and repackaged and eventually securitized to numerous parties in various tranches that securing title may be difficult. We are awaiting Linda Green's signature to help resolve this ownership problem.

Wed, 01/16/2013 - 20:47 | 3160495 The Duke of New...
The Duke of New York A No.1's picture

Within the next 6 to 12 months; JP Morgan will buy a private mining company ... the real buyer of course will be the Fed .... the purchase of the private mining company will be to dig the Fed out of their 300 ton margin call.

Thu, 01/17/2013 - 01:47 | 3161328 The Heart
The Heart's picture

Ah shucks, they don't have to do that. All they need to do is take over the Canadian front company owned by maurice strong in china that has been sucking the massive amounts of gold from the Sangre de Christo mountain range by Crestone, CO for decades. More of the American gold goes to Canada and then to china than what is mined from anywhere else. This mine and the world largest, the Independence mine in Crestone that is owned by china now can both be confiscated to pay germany off, pay the national debt off, and still have enough gold to build a six by six foot wall around the entire border of the continental USA.

Thu, 01/17/2013 - 02:03 | 3161350 cynicalskeptic
cynicalskeptic's picture

As if we can afford to piss off China......  The US owes China a LOT more than a few hundred tons of gold

Thu, 01/17/2013 - 02:02 | 3161351 cynicalskeptic
cynicalskeptic's picture

As if we can afford to piss off China......  The US owes China a LOT more than a few hundred tons of gold

Thu, 01/17/2013 - 07:28 | 3161605 overmedicatedun...
overmedicatedundersexed's picture

the heart, canada and gold, seems for yrs my local gold and coin store, they only buy have no gold to sell.. let a cat otta the bag, I asked the owner why he only buys gold and would not sell to me..he said oh I HAVE a buyer in CANADA, he makes frequent trips to CANADA to sell gold he buys here in maryland. I first said what they let you across the border with large amounts of gold...he said well you as a citizen can't do it, but I as a gold trader can.

I said give me a price the CANADA buyer gives you and I WILL pay more..HE SAID NO. drop jawed I  walked out, to this day this is going on and I can find no reason for him to only sell to CANADA....perhaps he has a lock box up there and is not selling at all

Wed, 01/16/2013 - 20:54 | 3160520 besnook
besnook's picture

it is not money so why is everyone acting like they have a wedgy? bernank shouldn't care. he is the one who told me gold is not money.

Wed, 01/16/2013 - 20:55 | 3160522 ejhickey
ejhickey's picture

Meanwhile back in Congress:

House Democrats are pushing legislation to repeal the federal debt ceiling, saying the borrowing limit has no practical purpose and has come to be used for political maneuvering that can have devastating economic repercussions."


say HELLOE to Unlimited Debt

Wed, 01/16/2013 - 20:56 | 3160526 pashley1411
pashley1411's picture

a few months to ship it.   6 1/2 years to test every mf bar.  

Wed, 01/16/2013 - 20:57 | 3160528 Yancey Ward
Yancey Ward's picture

Well, the Fed wouldn't want to have to buy 300 tons all at once.

Wed, 01/16/2013 - 21:02 | 3160539 dark pools of soros
dark pools of soros's picture

here's a good place to sail that 300 tonnes over en route..



Wed, 01/16/2013 - 21:07 | 3160553 WallowaMountainMan
WallowaMountainMan's picture

unwinding about 2 -3 % of their rehyptothicated paper.....takes 7 years...


how long would it take to unwind ........ ? fill in the blank.

Wed, 01/16/2013 - 21:10 | 3160561 Downtoolong
Downtoolong's picture

JPM needs to Reverse-Un-Repo-Hypothecate it first.

Wed, 01/16/2013 - 21:11 | 3160562 Falconsixone
Falconsixone's picture


Mali has gold.


Maybe they'll take all the fucking thieving jews at the fed instead? They used to know what they're good for.

Wed, 01/16/2013 - 21:19 | 3160596 Falconsixone
Falconsixone's picture

Good time to pull the rug out since their times up this 8 years they won't exist.

Oblowjobs about to get his crown and mink robe...


Wed, 01/16/2013 - 21:24 | 3160612 Smuckers
Smuckers's picture

I wonder if Germany will rethink this 7 year leisurely stroll if other countries repatriate in quicker fashion.

Wed, 01/16/2013 - 21:32 | 3160636 Pseudo Anonym
Pseudo Anonym's picture

a shade of tungsten

gold the Fed supposedly holds, is shown in yellow with a shade of tungsten

good one.

Wed, 01/16/2013 - 21:35 | 3160644 From Germany Wi...
From Germany With Love's picture

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

That's a joke, right?

Wed, 01/16/2013 - 21:42 | 3160671 rsnoble
rsnoble's picture

Looks like im not the only one noticing the African connection.  And people want to buy bonds from these bastards because they're safe????  Move the doomsday clock up another minute.

Wed, 01/16/2013 - 21:43 | 3160676 knowless
knowless's picture

wow. pictures are priceless, like a burger king training video.. why isn't she wearing safety glasses when using that hammer?!?! i'm sure it says right on it wear eye protection..


is this shit real?

Thu, 01/17/2013 - 02:06 | 3161354 cynicalskeptic
cynicalskeptic's picture

All posed PR photos - anyone who actually handles gold bars wears overalls without pockets and has magnesium shoe protectors.  Drop a 400 oz London Good Delivery bar on your foot and you're in for a world of hurt - and multiple fractures.

Wed, 01/16/2013 - 21:46 | 3160690 alfbell
alfbell's picture

Germany: We would like to take physical possession of our gold.

Bernanke: You killed 6 million of my people. Piss off!

Wed, 01/16/2013 - 21:49 | 3160697 andyupnorth
andyupnorth's picture

So 7 year for 300 tons (5%)... and 133 years to deliver all the remaining "gold"?

Wed, 01/16/2013 - 21:51 | 3160712 awakening
awakening's picture

Article aside; I don't think for a second that other countries are not watching this farce with Germany unfold and may too soon question the validiity of their gold holdings in the hands of Americans.

1971 all over again (gold run on the US), Bring it!

Wed, 01/16/2013 - 21:53 | 3160720 alfbell
alfbell's picture

Germany: We would like to take physical possession of our gold.

Bernanke: Apparently JPM took it and created GBSs with it (Gold Backed Securities). There is a confusion now because every pension fund, insurance company, hedge fund on the planet (and we here at The Fed) are asserting that THEY own the gold. This is gonna take at least 7 years to unravel.

Wed, 01/16/2013 - 21:59 | 3160754 rsnoble
rsnoble's picture

That is my first thought is that one of these bastard fuck banks have it all fucked up somehow.  

Wed, 01/16/2013 - 21:59 | 3160755 alfbell
alfbell's picture

Germany: We would like to take physical possession of our gold.

Bernanke: About 10 years ago we hired a cleaning service to organize and put order into the basement at the NYFRB. All debris, trash and unnecessary furnishings were thrown out... and that would include barbarous relics.

Wed, 01/16/2013 - 22:05 | 3160778 jim249
jim249's picture

Bernanke got the request form Germany and "turned a whiter shade of pale".

Wed, 01/16/2013 - 22:10 | 3160800 boeing747
boeing747's picture

I'm very sure that German's golds are owned by GLD already. Long Police Dept.

Wed, 01/16/2013 - 22:13 | 3160814 MrBoompi
MrBoompi's picture

At today's price 300 tons is only $18 billion. This is basically a rounding error to the Federal Reserve. When you can create money out of thin air, manipulate the price of gold, and spread out purchases over whatever damn time period you please WHY WORRY?

Wed, 01/16/2013 - 22:27 | 3160862 awakening
awakening's picture

Because Germany has asked to repatriate their gold, not any old bit of the elusive metal but their SPECIFIC gold (the very same bricks they delivered in the safe keeping of the US Federal <lol> Reserve Bank) that they had entrusted in the hands of the US. It's not only about getting delivery of any gold, this game is the ultimate test of the full faith and credit of the USG (and thus the USD).

Wed, 01/16/2013 - 22:32 | 3160885 Matt
Matt's picture

You think they actually requested specific bars by serial number, and they have to hunt down or recreate those exact bars?

Wed, 01/16/2013 - 22:41 | 3160905 awakening
awakening's picture

Of course they did, why else would anyone go through all the hoo-ha to get the gold shipped across instead of digitally wiring to the Germans several payments of USD (off the books, shadow transfer called QE79 [element 79] ) and just buy all the Gold they can get their hands on (they still mine the stuff, let alone other forms of obtaining gold possession as seen by events in Africa).

Wed, 01/16/2013 - 23:14 | 3161003 yogibear
yogibear's picture

It would be interesting to see what would happen if the gold bars with the serial numbers were gone. You would see the German bank pull even more to see how many more bars were gone.

It's to test the integrity of the US Federal Reserve Bank. You better believe that they don't want the bars privately over 7 years. They probably want it as soon as possible. They may say they want it over 7 years publicly to divert a market disaster.

Yeah, let's test the Federal Reserve's integrity. Honor among thieves.


Thu, 01/17/2013 - 02:16 | 3161372 cynicalskeptic
cynicalskeptic's picture

Back in the 80's - when gold was still a bararous relic and not given much thought - the bars in the basement of the Fed were all nicely stacked and segregated in cages by  country of ownership.  The history of those bars was fascinating - much of the European gold bore Reichsbank eagle and swasticka stamps from when Germany grabbed most of the European stocks.   You had a wide variety of stamps - from the original smelter to various ownership stamps over the years.

However if Germany engaged in a swap agreement (as has been reported ) back around 2000, then the US is not obliged to return the very same bars Germany deposited.  Nonetheless, the fact that they are talking YEARS to return Germany's gold does lend credence to speculation that it's simply not there and has to be 'procured'.


You have to wonder -what with the tungsten rumors and the lack of a Ft. Knox audit - if the US was paying for oil under the table with gold - a 'bribe' so to speak to keep the Saudis and others propping up the petrodollar.  The US is paying in gold as long as the Arabs demand that others pay in dollars.......     one way to keep the Ponzi scheme going for a while longer.   If the dollar was not the worlds's reserve currency, it would have coillapsed shortly after Nixon reneged on Bretton Woods and ceased the convertability of the dollar into gold.   Seems like DeGaulle was on to something.

Thu, 01/17/2013 - 06:56 | 3161578 AE911Truth
AE911Truth's picture

Ref: cynicalskeptic wrote: “US was paying for oil under the table with gold”

Yes. Have a look at page 5 of the October 1981 issue of Saudi Aramco World magazine wherein it states: “Aramco, required to pay royalties and other payments in gold to the Saudi government, could not obtain the gold at the monetary price fixed by the United States so the U.S. government specifically began to mint the "disks" - actually bullion in coin form for these payments."
Source: The Numismatist.

Wed, 01/16/2013 - 22:16 | 3160828 egoist
egoist's picture

Sort of seems like the kind of stuff that could trigger a nasty little war or something. Given Germany's odds, maybe not. Now, add to that a continent of pissed off countries, wanting their gold back... "citizens, turn in your gold to overt war" And, just to save time & money, they'll get the guns at the same time.


I'm starting to get a bit uneasy about things.

Wed, 01/16/2013 - 22:25 | 3160858 goldenbuddha454
goldenbuddha454's picture

Hello Mr. Muller, welcome to New York.  Do you have a receipt for said 300 tons of gold?  You know we don't allow returns without a receipt don't you?

Wed, 01/16/2013 - 22:26 | 3160864 SirSnarksalot
SirSnarksalot's picture

It doesn't say that it will take the Fed seven years.  It says "To this end, the Bundesbank is planning a phased relocation of 300 tonnes of gold from New York to Frankfurt as well as an additional 374 tonnes from Paris to Frankfurt by 2020."   What's your evidence that the seven year "phased relocation" is because the fed needs seven years to deliever?  A less frothy reading of the situation would be that the Bundesbank came up with a seven-year phased relocation plan to try to avoid the appearance of panic.  

Wed, 01/16/2013 - 23:44 | 3161081 nathan1234
nathan1234's picture

The Bundesbank is trying to cover it's ass.

Moving this amount of Gold is not difficult at all.

When they move chemical weapons and nuclear weapons with all the required security in a jiffy, this must be a piece of cake.

They have to answer the German people and show on record that it took action to recover their Gold. When small amounts come in  periodically the citizens can be lulled into thinking all is okay.

Their must be some deal between the Fed and the Bundesbank to do it in this manner so that the Bundesbank can cover it's ass.


Thu, 01/17/2013 - 00:10 | 3161149 mendigo
mendigo's picture

Its a good point.

Still, one year would seem fairly methodical.

Wed, 01/16/2013 - 22:29 | 3160873 nathan1234
nathan1234's picture


America's Gold Reserve DOES NOT EXIST

God help those countries who trusted America.

They have been swindled.

I hope this starts a Domino effect and all countries having their Gold in America ask for all of it back.

The citizens of each country should insist that their Governments call back the Gold to their countries.

The US Fed is the Biggest Ponzi scheme in the history of the world.

The intention of the Fed Reserve is to buy back Gold slowly using its paper money from suckers who think it ( US Dollars) has value and slowly send it to Germany over 7 years.


Wed, 01/16/2013 - 23:03 | 3160972 reader2010
reader2010's picture

Mark my words. They first came after your civil rights, then they come after your weapons. Finally they will come after your gold and silver. 

Wed, 01/16/2013 - 23:33 | 3161053 jmc8888
jmc8888's picture


More like seven years to buy 300 tons to send to Germany.


Wed, 01/16/2013 - 23:39 | 3161068 mohawk5573
mohawk5573's picture

All I want someone to tell me why, It didn't take as long for Venezula or the other countries to get their gold. and being so why do the Germans not have some questions or comments about this?

The reason I am asking is the silence that occurs around here when something happens in the United States. Something funny happens with the Banks (Corzine) no questions in the mainstream or in public and I get shunned when bringing it up.

So is this the quiet contentment from the Germans too?

Wed, 01/16/2013 - 23:42 | 3161076 blindman
blindman's picture

Gold Carry Trade : What is it?

What is the Gold Carry Trade? How does it impact the price of gold? What role do bullion banks play in the process?

The Real Story Behind the True Gold Bull Market
" ..Let me tell you why the gold carry trade will not be sustainable forever. It’s very simple. All we have to do is look at the step where bullion banks have to buy back the gold sold on the spot market in order to pay back the central banks.

In order for this to be profitable for the BBs, the price of gold has to experience very limited gains during the time the gold is leased out. Or the price of the futures contract purchased by the BB has to be near enough to the price of gold when the bullion bank initially unloaded the leased bullion on the spot market. If the price of gold heads too high, it will not be profitable for BBs to partake in being the intermediary for such transactions.
"....rapid trends

Wed, 01/16/2013 - 23:45 | 3161083 tony bonn
tony bonn's picture

the fed no more has any german gold than it does usa gold.....this is the preposterous joke of the new millenium....germany pissed away its gold decades ago just as the fed did the same thing....the fed owns a lot of gold in theory but in practice it has virtually none.....anyone believing otherwise probably also believes the warren commission report and has a giant FUCKTARD written across his forehead....sorry.

Wed, 01/16/2013 - 23:49 | 3161094 DarthVaderMentor
DarthVaderMentor's picture

I smell a run by Central Banks on their FRB stored gold........


Wed, 01/16/2013 - 23:52 | 3161101 topspinslicer
topspinslicer's picture

Guess the German's can't take advantage of this month's 50 free listings on ebay international. That sucks.


Wed, 01/16/2013 - 23:53 | 3161105 topspinslicer
topspinslicer's picture

7 years? whoa!! slow down! what's your hurry??!!

Wed, 01/16/2013 - 23:55 | 3161110 mendigo
mendigo's picture

You got to be kidding me. These guys are amazing.

Corozine better be taking notes.

I cannot imagine what would be the absolute most shit-faced unscrupulous thing our government could do, but two things near the top of the list would be:

1) Conceive a coin which will instantly pay-off our gargantuan debt, as in: "Here Mr Wang Bo. You guys have been great. Take two! Keep the change. Your very welcome."

2) Be unable to deliver several tons of gold, supposedly carefully held in a super safe vault. 

Well at least the end of the modern financial world may prove to be incredibly humorous - this has got to be a broadway musical (with Nathan Lane of course as pompous banker) or maybe done as a german opera.

Thu, 01/17/2013 - 00:07 | 3161139 jonjon831983
jonjon831983's picture

"For God And Gold"


"In Yemen al Qaeda is offering a large reward for anyone who can kill the U.S. ambassador to Yemen. The reward is to be paid in gold (three kilograms, worth $160,000 at current prices). Cash (type of currency not specified) rewards ($23,300) are being offered for each American soldier in Yemen who is killed. This sort of thing is nothing new for al Qaeda but the rewards are not usually given this kind of publicity."


Hm interesting

Thu, 01/17/2013 - 00:18 | 3161172 MrPalladium
MrPalladium's picture

Bottom line here, boys and girls, is that Germany has just added itself to the long list of countries acquiring gold, albeit indirectly by satisfaction of a prior claim against a fraudster who cannot make good.

Thu, 01/17/2013 - 00:19 | 3161173 MrPalladium
MrPalladium's picture

Bottom line here, boys and girls, is that Germany has just added itself to the long list of countries acquiring gold, albeit indirectly by satisfaction of a prior claim against a fraudster who cannot make good.

Thu, 01/17/2013 - 00:25 | 3161187 gnomon
gnomon's picture

Germany should threaten to leave the EU and pair up with Russia, if they don't get their gold.  They are all a bunch of skunks anyway.  So what does it matter?


Thu, 01/17/2013 - 00:53 | 3161231 Oldballplayer
Oldballplayer's picture

That worked out well in the past. What could go wrong.

Thu, 01/17/2013 - 00:33 | 3161200 plata pura
plata pura's picture

the biggest hype of all be the amount of gold made to bullion; an inverted hype to keep it's precious state precious. a tory archaeologist at a tel in the negev made find in 1857ce that be 85% of todays reported worlds gold supply. debeers made a select few in the ussr very wealthy by keeping the lid on their warehouses of diamonds. it's like that. in conclusion silver is great silver is good.

Thu, 01/17/2013 - 00:34 | 3161201 Keyser-Soze
Keyser-Soze's picture

Germany: "Bernanke is a douchenbaggen."

Thu, 01/17/2013 - 00:46 | 3161210 Milton Waddams
Milton Waddams's picture

Look at the people on page 13 of the linked PDF; it's choreographed, no doubt, to inspire confidence (by god, they have clipboards ... and they are actually looking at it!).  Now why might an organization (attempt to) manufacture the image of confidence?  Much <3 to Bernanke's Fed; he took the 'transparency' agenda to heart...

Thu, 01/17/2013 - 00:41 | 3161213 Barbaric relic
Barbaric relic's picture

Curious indeed how they're giving the fed more than 7 years to deliver a relatively small amount of gold -- were there frantic begging phone calls from the fed to give them time to come up with the gold?  Will the fed now allow buba to look at their gold at the ny fed and do a propert audit of it? 

Thu, 01/17/2013 - 00:57 | 3161238 Hooter Shaker
Hooter Shaker's picture

Not to worry....The plane carrying the "gold" will be mysteriously lost over the deepest part of the ocean.  The insurance company will be on the hook and the Bernank will print up some fresh BennieBux to bail them out after they pay up.  


It's already figured out...



Thu, 01/17/2013 - 01:08 | 3161264 gnomon
gnomon's picture

And such a scenario would be accepted as fact even though every last motherfucker in the media and the world would know it to be a bald-faced lie!

I am waiting for a snapshot of Obummer "probing" a child with the caption, "Dear Leader gives free prostate exam".  It is that bad.

Thu, 01/17/2013 - 01:04 | 3161252 AgentScruffy
AgentScruffy's picture

"While you were out, we, um, lent your gold to, um...."

Thu, 01/17/2013 - 01:07 | 3161260 zebrasquid
zebrasquid's picture

U.S. To Germany: Ever hear of our 7 year Statute of Limitations?

Thu, 01/17/2013 - 01:08 | 3161262 sbenard
sbenard's picture

Open invitation to the world's pirate population!

Thu, 01/17/2013 - 01:11 | 3161269 resurger
resurger's picture

Seriously, This is so fucking sad! Why cant they say we want our gold pronto and expedite the demise of those fuckers.

Thu, 01/17/2013 - 07:24 | 3161602 AE911Truth
AE911Truth's picture

Does this answer your question?

Thu, 01/17/2013 - 01:28 | 3161303 mee-mee-mee
mee-mee-mee's picture

I love this shiny yellow stuff. I see why Germany wants theirs back.

Thu, 01/17/2013 - 01:33 | 3161309 The Heart
The Heart's picture

Mission Impossible 13:

The well executed a pre-dawn dark thirty kidnapping of the bernake by the Germans to hold him for ransom until the German gold was returned, failed after the rottenchild banksters in london issued a rushed media announcement quoting the lead ratchild bankster as saying, "keep him, he was not worth his weight in fly shit anyways."

Thu, 01/17/2013 - 01:47 | 3161329 TyrannoSoros Wrecks
TyrannoSoros Wrecks's picture

How can I trust any of this shit I read any more? For all I know, some Kraut and his buddy at the Fed cooked up this story to create fear and drive up the price of gold because he wants to sell personal coin collection to pay off a gambling debt.

Thu, 01/17/2013 - 01:51 | 3161333 valkir
valkir's picture

Comrades,dont forget,Germany is still ocupyed country.60,000 usa,12,000 british,and what a joke,6500 french soldates.

Thu, 01/17/2013 - 01:51 | 3161335 Yen Cross
Yen Cross's picture

 FX risk, another leg down is coming! Hedge accordingly

Thu, 01/17/2013 - 01:56 | 3161340 cynicalskeptic
cynicalskeptic's picture

Hey Germany...... you might want to check out the NY Fed's operations center in JERSEY...... lots of rumors about the gold beiong moved out of Manhattan after 9/11........   so - technically - they may be correct in saying it's not exactly in NY at the moment

either that or  'Die Hard With a Vengance' was a documentary and Germany's gold is now with a bunch of Russian ex-KGB types.....

Thu, 01/17/2013 - 12:35 | 3162594 lakecity55
lakecity55's picture

Sorry, it was actually stored at the world trade center, and it melted on 9/11 and it is all gone.

Thu, 01/17/2013 - 02:01 | 3161348 ebworthen
ebworthen's picture

Won't some tungsten and paper IOU's get there quicker?

Thu, 01/17/2013 - 02:26 | 3161385 Hook Line and S...
Hook Line and Sphincter's picture

It'll take 7 months for the fentayl-laced heroin to hit the German streets as a bitch slap to those nasty gametheory adherant Germans.

These Teutons are quite clever. They know the AU isn't there. Wouldn't be interesting (and no suprise) to discover that the Feds missing rehypothecated gold is largely in the hands of the controllers of the Anglo-Germanics already.

Thu, 01/17/2013 - 02:58 | 3161412 geekgrrl
geekgrrl's picture

As I said last night "If the Fed takes an extended period of time to "find" the gold that is allegedly sitting in easily accessible vaults right this very second, confidence might start waning in other countries that also have gold with the Fed."

So that gold isn't immediately accessible? Well now how about that that shit! (paraphrashing Jay from Jay and Silent Bob)

Thu, 01/17/2013 - 03:03 | 3161417 Dan The Man
Dan The Man's picture

This has to be bullish for

Thu, 01/17/2013 - 03:13 | 3161428 Fiat Envy
Fiat Envy's picture

Is it possible that the Buba has only asked for a fraction of its gold over seven years because they are the ones who have loaned out the gold and they are hoping that is enough placate the Germans who are demanding their gold be brought home?  Or at least please enough ordinary Germans so that they can ignore the gold bugs. 

Thu, 01/17/2013 - 03:15 | 3161429 They Tried to S...
They Tried to Steal My Gold's picture

WE keep excellent detailed records......and in 7 years they'll be even better....



Thu, 01/17/2013 - 03:41 | 3161448 TacticalZen
TacticalZen's picture

If this really started a tidal wave I wonder what physical gold might be worth in current FRN's?  M1 + half of M2 / 8,000 tons owned by gov't and ? Tons owned by Americans.  Anyone want to speculate or have a reference to someone else's work?

Thu, 01/17/2013 - 04:23 | 3161478 AnAnonymous
AnAnonymous's picture

Peak oil. There is simply no longer enough oil to power the cargo ships required to move the gold.

Return to the age of sails, much small cargo holds and longer sojourns between the two continents.

Signed: an American.

Thu, 01/17/2013 - 04:26 | 3161482 adamas
adamas's picture

The Bankers hold 8200 tonnes of gold , which is why our paper money is safe to borrow into existance.


I STRONGLY RECOMMEND you read Louis Evens parable about the banker with a secret hoard of gold.


Thu, 01/17/2013 - 09:25 | 3161492 AE911Truth
AE911Truth's picture

Dear BuBa,

We really would like to return your gold but due to this pesky Lien we unfortunately cannot.

Please check back with my replacement after the 7 year Statute of Limitations has expired.

Best regards,


Thu, 01/17/2013 - 05:01 | 3161502 Clowns on Acid
Clowns on Acid's picture

Why doesn't Ben just go over to Germany and explain the "tradition' thing...?

Thu, 01/17/2013 - 05:04 | 3161505 magpie
magpie's picture

The ancient Germans had to make do with the other barbaric relic, silver.

Thu, 01/17/2013 - 05:12 | 3161510 forrestdweller
forrestdweller's picture

if the gold isn't there. where is it? or does it not exist?


Thu, 01/17/2013 - 05:22 | 3161519 mt paul
mt paul's picture

bernake wants to

 dress up like the queen

and make a video

touring the gold vaults...


but the SEC won't let him

Thu, 01/17/2013 - 05:42 | 3161540 magpie
magpie's picture

You could make a whole series of those, Merkel, Obama etc.

Like the "Kim Jong Un looking at stuff" videos

Thu, 01/17/2013 - 05:44 | 3161542 Yen Cross
Yen Cross's picture

 Fuck off/  Trading is an art!

Thu, 01/17/2013 - 05:53 | 3161546 Frastric
Frastric's picture

If the Fed actually had the gold it could ship off 300 tonnes in less than a month, seven years is the biggest indicator of one of two things: 

1. Most of the Fed's gold holdings are tungsten filled gold surfaced- duplicates.

2. So many parties have claim to the gold (rehypothecation cough cough) that even moving a small amount of gold could trigger an avalanche of gold repatriations from other countries.


Thu, 01/17/2013 - 09:28 | 3161742 irie1029
irie1029's picture

that was good!

Thu, 01/17/2013 - 06:19 | 3161557 Silvertrader
Silvertrader's picture

I think most governments know this already for a long time, but keep their mouth shut an play along with the game because else the system collapses. In the mean time I buy and trade gold

Thu, 01/17/2013 - 06:35 | 3161565 object_orient
object_orient's picture

 $10 million for the Centers for Disease Control to conduct further research, including investigating the relationship between video games, media images, and violence.


No connection. Where's my money!?

Thu, 01/17/2013 - 06:57 | 3161582 Monedas
Monedas's picture

Germany should buy the 300 tons on the open market .... take delivery .... when the 300 tons trickles in from NY Fed .... pay off the loan used to buy the 300 tons .... pocket the profit .... there is no problem Monedas can't solve !

Thu, 01/17/2013 - 07:06 | 3161586 Monedas
Monedas's picture

Germany could use all their gold held by the Fed as collateral to buy, on the open market, the equivalent of all their gold held by the Fed .... putting upward pressure on the price of the gold they locked in ?  Maybe JPM would loan Germany the money .... unless they know the gold doesn't exist ?

Thu, 01/17/2013 - 07:13 | 3161594 tradewithdave
tradewithdave's picture

If you consider the timeframe within CFTC investigation "dog years", it's quite a speedy delivery.  Technically speaking it's only one "dog year" and the judge who dismissed the JPM metals manipulation case was just shy of thirteen dog years old.  So.... do the math.

Thu, 01/17/2013 - 07:20 | 3161597 writingsonthewall
writingsonthewall's picture

Come on people - don;t you know anything? The FED is EMPTY - simon gruber STOLE IT ALL in Die Hard with a vengance.


That gold was never returned - the NYPD stashed it all when Willis turned his back.

Thu, 01/17/2013 - 07:23 | 3161599 Peter Pan
Peter Pan's picture

It's seven years because that is how long it will take the sheeple to forget about the issue.

Thu, 01/17/2013 - 07:26 | 3161601 Volaille de Bresse
Volaille de Bresse's picture

So... America's power is a lie : it's now naked, broke and soon open for pillage? YEAH!

Thu, 01/17/2013 - 08:13 | 3161627 mkgone
mkgone's picture

The Fed does not need to have Gold as long as the US have the largest military in the world and have some dominance over the states that store their gold in the US.


Germany is still not a 100% independent state as from WWII - maybe that's a sign that the US gives Germany some more power.


Just a few thoughts :D

Thu, 01/17/2013 - 08:15 | 3161631 sudzee
sudzee's picture

Just issue 1's and 0's to germany and they can buy gold on the open market in Europe.

Thu, 01/17/2013 - 08:34 | 3161650 Gordon_Gekko
Gordon_Gekko's picture

Right on.

Thu, 01/17/2013 - 08:16 | 3161632 TWSceptic
TWSceptic's picture

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

Thu, 01/17/2013 - 08:33 | 3161647 Gordon_Gekko
Gordon_Gekko's picture

Nobody gives a flying fuck about Germany's Gold. I hope ALL central banks lose ALL their Gold, after all they were willing partner's in the Fed's Ponzi scheme. I hope Germany's Gold is never returned. They fucking DESERVE it.

Thu, 01/17/2013 - 09:37 | 3161767 e-recep
e-recep's picture

sorry, sauerkrauts, fort knox had a boating accident.

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