Where Did All The Gold Go?

Tyler Durden's picture

The last twenty years have seen an acceleration of real wealth transfer from the west to the east. Nowhere is that more evident than the change in gold stock piles since 1993 with Russia and China gorging and Holland, Belgium, and most notably Switzerland selling it all...



Chart: Goldman Sachs

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All_Your_Base's picture

We will bury you.

You have Barry'd yourself.

- Russia

icanhasbailout's picture

Only if they actually took the physical itself back home and can protect it directly or indirectly with a nuke is this meaningful.

zaphod's picture

The funny thing is if Bitcoin does take off as an alternative reserve asset, all those countries who have been buying gold like crazy will have been right, but screwed by backing the wrong dollar alternative.

CheapBastard's picture

Any ZH'ers visit Europe lately? Chinese, Russians and Indians everywhere  buying stuff up including small and big businesses, buildings, houses, etc.

As many have said, the New Wealthy are Asians and Russkies.

strannick's picture

Dont forget dumbshit Canada, which used to be #8 for most gold.

In the late 1980s Canada sold most of its gold, back when it was a debt ridden socialist basketcase. Kind of like Maduro's Venuzuela now. Only then we werent able to trade gold for Samsung stuff. To quote Canada's Joni Mitchell "Dont it always seem to go? You dont know what you got til its gone...''

RockyRacoon's picture

I don't see the US on the chart either. 

Oh yeah, we don't "audit" our presumed huge pile at Ft Know... do we?

GetZeeGold's picture



I don't see the US on the chart


That's cause they know we'll drone strike their asses!

Rock On Roger's picture

Apparently there is still some 7000 tonnes in deep storage. Just got to do a little digging.


Sttack On

TrulyStupid's picture

You mean Canada is no longer a debt ridden corporate socialist state? Even a cursory  glance at the deficit and debt trends since the Harperites took over is quite revealing.

Canada continues to have large reserves in the grouund that won't be liberated until the Corporate socialist government there and abroad, stops the financial suppression of gold mining and exploration. It is no secret that this industry has been under attack by hedge funds with the encouragement of the global cartel.


Blame Crash's picture

Your use of the word "Harperites" is proof positive that you yourself live up to your moniker. To suggest that the Conservative government is Canada's problem is truly stupid.  The truth is that it's all these Liberal-Socialist provincial governments are the ones who are doing Canada harm.  Why just the other day, the freak Premier of Ontario stood on a stage with Al Gore to announce the destroying of another part of its own economy. Meanwhile in Ottawa, many are expecting the federal decicit to be elimanated in 2015-16.


Absalon's picture

It is the Native Indians and the environmentalists who are holdng back the development of new gold mines in Canada.

J Pancreas's picture

I haven't been to Europe in awhile, however, some folks I know abroad made mention of the American economic problems they've been seeing on their country's news channels. It was refreshing in a way to hear the truth from a foreigner when next to no one locally pays attention to anything but football or the fat slobs on the primetime idiot-box.

Unfortunately for the people I was referring to, as well as myself when the dollar craps the bed I dont think anyone will see their life's work (measured in fiat) saved.

Stuck on Zero's picture

If the West is doomed why are the CHinese and Russians buying things here?


IndyPat's picture

Lebensraum, bitches....that's why

Divine's picture

I can difinitely agree with you one this one. I work as marketing manager in a company that operates in Scandinavia & Baltics. I have on average 2 work related trips inside Europe or to China. I have seen a remarkable increase in Russian & Chinese tourism & immigration to Europe. My country, Finland, receives around 30 000 immigrants yearly (+3000 UN asylum seekers) and biggest groups are Estonians & Russians. There are now about 65 000 Russian speakers in Finland - in year 2002 there was about 33000 of them. We have 15 000 Somalis and 12 000 arabs, 10 000 kurds just to put things in perspective. 

Recently Helsinki has been full of Asian & Russian tourists and sometimes at Stockmann (best department store in Finland) you only hear russian. There is a booming business at eastern Finland near the russian border, where russian come to stockpile with quality cheeses, groceries, electronics etc. My company is opening a branch soon in Russia as well.

The asians seem to be everywhere here as well, many japanese and chinese espcially. Japanese people might be looking for a new home if SHTF at Fukushima. Finnish people have good attitude for asian, american & european migration. Multiple recent rape cases involving black & moslem immigrants & asylum seekers has shifted popular opinion on immigrants of these countries. But I quess you reap what you sow...

Some asians have opened big china style retail stores around finland, but only a few have been a huge success. They have had more success owning bars etc. Russians are buying off land and nice summer houses at lakeside. If you feel unconfortable in the US, I can highly recommend settling down to Finland. Its quite peaceful here and you can own guns :) Only 5,4 m people in the 7th largest country of the Europe and some resources as well. There are still counties where the closest police station is 3 hour drive away :)



thisandthat's picture

Yeah, like Portuguese government is accepting buttcoins for residency cards and nationality...

bunzbunzbunz's picture

I know, I'm worthless, but if you want to get some free bitcoins just in case the skyrocket: http://freebitco.in/?r=25727

DosZap's picture

Those charts are SO LOW it's not even laughable,as to how much has gone the Russia,China,India,and the Eastern Com blocs.

fonzannoon's picture

oh here we go....

Racer's picture

Germany has got very little.... the gold they haven't is in the US

Scarlett's picture

and that gold is in beijing right now...

r3phl0x's picture

The same gold's actually being held by a few countries at the same time, through the magic of modern finance.

knukles's picture

Everybody knows that.
Why, my great great great great great grandfather was an Annanuki Reptilian Shape-shifter.  One of the originals, which makes me a Son of the Annaukian Revolution.  Got a gold plated (plastic) membership card even.  And if you'd like to join just send a self addressed stamped envelope along with one fun ticket in cash ($100) and I'll get back to you.

And talkin' about reptiles, Little Johnnie Kohn is arriving in Geneva to talk with the Rag-heads about his No Nuke is a Good Nuke Policy

BTW, is that website up and workin' yet or are we still take our lunch?

Ignatius's picture

If only the government could make the O'MamaCare website as slickly as they've made this UFO website then we'd have everyone signed up in no time.  Just goes to show that different departments in the government really should talk to one another.

Keyser's picture

They're after mono-atomic gold. 


q99x2's picture

Now that there is BitCoin nobody really needs gold other than to make things with.

NidStyles's picture

I remember them saying the same thing about USD's in the 1970's....

knukles's picture

Well I'm laughing.
But then again, Mrs K tells me to quit laughing at the most "inopportune times" as she puts it....

I also hear "please just shut the fuck up, I can't take you anywhere" a lot

IndyPat's picture

I'll trade you your gold for my bag full of tulip bulbs.

tocointhephrase's picture

42 oz of silver for one bitcoin. Very tempting

GetZeeGold's picture



I think I'll hold off on that.....check with me later.

Blame Crash's picture

Forty-two silvers for one Shyster-Coin.  Wow! What a deal! Where do I sign up?

sixbilliondollarman's picture

right...like the computer that bitchcoin trades on?

Proofreder's picture

Here is a more comprehensive look at the numbers ...

From the IMF (International Mo Fo's)


Proofreder's picture

Actually, this covers RESERVES in detail - 

More, better for gold ... http://en.wikipedia.org/wiki/Gold_reserve


SamThomas's picture

Uhhhh...this chart makes no sense, unless the underlying data is simpy out-of-date.  China has over 1,000 tonnes as of their last official report as of 2009, and has been importing gold ravenously since then...some speculate their current stockpile is somewhere between 4,000 and 5,000 tonnes presently.

knukles's picture

Whoa!  Don't fuck with the Vampire Squid!

mark mchugh's picture

China does not report its official gold holdings to the IMF.  They like to surprise us from time to time.  And while we know that China imports a lot of gold, we don't know how much of it is reserves.


stacking12321's picture

in feb., jim rickards estimated china cb holdings are more in the 2000-3000 MT range

recently, jim willie has suggested the total may be close to 10,000 MT


LongSilverJohn's picture

I thought the Swiss were smarter than that... what's changed?

SuperCycleBear's picture



Swiss to hold referendum on gold reserves

By James Shotter in Zurich

Switzerland is to hold a referendum on a popular measure that would ban the central bank from selling its gold reserves and force it to keep at least 20 per cent of its assets in the metal.

Under the terms of “Save our Swiss Gold”, which is led by members of the ultra-conservative Swiss People’s party, the Swiss National Bank would have to repatriate gold reserves held abroad and keep them at home.

RaceToTheBottom's picture

The Swiss went all in for Fiat money, when they pegged their currency to the Euro.

That is not the Switzerland of old.


Scarlett's picture

when the swiss start giving free money to everyone, it's a signal that history has finished sharpening her knife

Kirk2NCC1701's picture

Easy:  It's no longer Himmler's Switzerland.  It's Blankfein's bank fines.  If they don't comply.

mark mchugh's picture

Switzerland did not sell all its gold, it sold about 60%.  It still has about 33 million ounces.

It certainly looks like central banks sold gold primarily to supply the ETFs.  They could easily have made swap arrangements that would have allowed them to reclaim it too.