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Where Did All The Gold Go?
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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Sank you.
-China
We will bury you.
You have Barry'd yourself.
- Russia
Only if they actually took the physical itself back home and can protect it directly or indirectly with a nuke is this meaningful.
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.
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.
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...''
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?
I don't see the US on the chart
That's cause they know we'll drone strike their asses!
Apparently there is still some 7000 tonnes in deep storage. Just got to do a little digging.
Sttack On
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.
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.
http://o.canada.com/business/federal-government-could-balance-the-books-...
It is the Native Indians and the environmentalists who are holdng back the development of new gold mines in Canada.
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.
If the West is doomed why are the CHinese and Russians buying things here?
Lebensraum, bitches....that's why
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 :)
Peace
Yeah, like Portuguese government is accepting buttcoins for residency cards and nationality...
I know, I'm worthless, but if you want to get some free bitcoins just in case the skyrocket: http://freebitco.in/?r=25727
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.
oh here we go....
Germany has got very little.... the gold they haven't is in the US
and that gold is in beijing right now...
The same gold's actually being held by a few countries at the same time, through the magic of modern finance.
The aliens are stealin' all the gold!
http://www.latest-ufo-sightings.net/2011/12/extraterrestrials-have-been-...
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.
Sometime.
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?
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.
They're after mono-atomic gold.
Now that there is BitCoin nobody really needs gold other than to make things with.
I remember them saying the same thing about USD's in the 1970's....
You're joking right?
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
I'll trade you your gold for my bag full of tulip bulbs.
42 oz of silver for one bitcoin. Very tempting
I think I'll hold off on that.....check with me later.
Forty-two silvers for one Shyster-Coin. Wow! What a deal! Where do I sign up?
right...like the computer that bitchcoin trades on?
Here is a more comprehensive look at the numbers ...
From the IMF (International Mo Fo's)
http://data.worldbank.org/indicator/FI.RES.TOTL.CD
Actually, this covers RESERVES in detail -
More, better for gold ... http://en.wikipedia.org/wiki/Gold_reserve
Oops
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.
Whoa! Don't fuck with the Vampire Squid!
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.
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
I thought the Swiss were smarter than that... what's changed?
http://www.ft.com/cms/s/0/aa177880-a840-11e2-b031-00144feabdc0.html#ixzz...
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.
The Swiss went all in for Fiat money, when they pegged their currency to the Euro.
That is not the Switzerland of old.
when the swiss start giving free money to everyone, it's a signal that history has finished sharpening her knife
Oh, I like that!
That is a fantastic observation.
Easy: It's no longer Himmler's Switzerland. It's Blankfein's bank fines. If they don't comply.
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.
Last time I looked at who held the most gold, the prize went to the population of India. They hold more gold than the IMF,US,EU,and China combined. India has 12,000 more tonnes gold than China.
I am puzzled as to why (at least) 4 assholes felt the need to downvote your objective and factual statement.
Assholes, care to pipe up?
i suspect he was downvoted due to mixing metaphors; india holds a lot of gold in public hands but this article is regarding central bank stockpiles.
i didn't downvote nihilist as his point is valid; i could care less about downvotes though
akak and stacking Thanks for the suppport, I was just throwing out an interesting tidbit...........sorry if I didn't stick to the topic. The chart and article was informative. When did a thread stay on topic at ZH?
"india holds a lot of gold in public hands but this article is regarding central bank stockpiles."
Yes, but given enough time - whatever is held in the public's hand usually ends up in the CB vaults, no? As I recall, here recently the government of India was trying to get the public to "loan" them their gold in a vehicle similar to bond fund..
Ahh, found it - try out this article - http://blogs.marketwatch.com/thetell/2013/08/30/india-may-be-prepping-gold-for-a-bigger-role/
The can "loan" me their gold in a vehicle similar to my big ass armored car!
And where is the US on that chart? Oh wait, they wont tell us how much gold we dont have.
We don't have any real tradeables, that's why the usa is not represented. Ours is a heart of tungstun which is then turned into a trusting paper product which is then based on the price of a 90% silver half dollar on ebay.
how much gold "we" have?
who is this "we" you speak of?
it's not good to antagonize your owners in this way, a serf should know his place.
It would be irresponsible to audit the USA's gold holdings.
It threatens the independence of the criminal douches who stole it.
Rotsa I.O.Roo's in does Raults.
Well, all that gold certainly has'nt helped the chinamans driving skills on the L.I.E.
Or their hygiene skillz by the roadside, for that matter.....
Aso, bitchez!
Am I reading correctly that portugal has sold about 150 tonnes of its 390?
USA: We don't need no stinking gold.
When we need it we will take it. (india)
Over.
We could confiscate any Indian Gold in vaults in the US, but NO, we are not going to India the continent to liberate their gold. Another large quantity of gold in India is individually worn, given as a part of ceremonies and festivals throughout the year.
I guarantee within 10 years the US will have a conflict with these indian (dot) subhumans.
The gold that is in their possession is NOT their gold. It is the property of the USA and we will, as God is my judge, be coming in to get what is RIGHTFULLY OURS!
Over!
What rock did crawl out from?
He did not crawl out.
He turned it
Over.
Gold is the best insurance there is, have a sizable army to defend it from conventional attacks and rest assured no one will nuke your cities with a direct hit, if more than 1000 tons of it is stored on site.
Cheaper than running a star wars system?
This is the outcome of the "Modern" economists taking over the Western World.
They view gold as a "Barbarous Relic" and think that the quicker they kill it the less stress on their lives. Coincidentally, Gold gatherers are not from the Western Central Bank (CB) club.
China is the outlier, in my view. If they want to play the CB games like the western countries, they will just use their gold to get on the world stage, and then they will multiple lease it, and fractional lend it, and ETF it just like the western CBs do.
In effect they will just sell it back and forth between CBs, making sure it never gets into the public's hands and the FIAT game will continue...
My Canadian sources tell me that Canadians no longer trust their government to do anything buy roll over and play "bitch" to its UK and US masters.
They therefore choose to leave most of it underground (rather than build up reserves), where the Banksters can't readily ship it out to... wherever (into private hands).
/ It appears that the British and Spanish lost theirs at sea, during Naval/Armada exercises near Gibraltar (boating accidents). Not to be outdone, the others promptly did the same. /s
Aye Captain. And the black gold should stay in deep storage for a while longer too. Selling to greedy americans for 1/2 price isn't too smart. But that proves we're just as greedy doesn't it?
Stack On
Well, the Swiss at least have chocolate coins in gold-foil wrapping. That counts, right?...
look dudes if push comes to shove
all the gold in the world is meaninglless
what then
my defense is better than the theirs
wake up fred
didn't drexel burnham lambert rip off the portagees for a shit ton of gold, when ltcm went belly up? edit: only 17 tons.
GLD lost 4.5 tons today. 852 tons now. Down around 20 tons in November, 30 tons in October. Say, if US retail buyers ever decide they'd like to buy back the 500 tons they've sold ( and that's just out of GLD) over the past 10 months, do you think the Asians and Russians will give it to us for 1250/oz?
I'll ask one american dollar for one microgram of gold. That seems closer to the true value of shiny radiation resistant stuff that we've been bred to accumulate.
Maybe I'll win a trip to heaven and live forever in the sky.
Stack On
it's called "churning"
TPTB move wealth from West to East. Then from East to West and back again.
The Roman Empire never fell! It split between East and West.
TPTB have been using this split to their advantage ever since.
Jim Sinclair Named Executive Chairman of Singapore Precious Metals Exchange (SGPMX)
After groundbreaking news from China, which will affect US Dollar Reserve Status of Choice from now on, we have another very important milestone. .Jim Sinclair is building the new institution for the physical Gold Exchange. Flow of Gold from the West to the East is breaking records this year and now this new player can push leveraged COMEX to the final stage of its Game of Musical Chairs in the Fractional Gold Reserve System run by LBMA.http://sufiy.blogspot.co.uk/2013/11/jim-sinclair-named-executive-chairma...
I may be mistaken but the flow of gold from the west might be even worse than we imagine. All those gold parties and pawn shops must have stripped thousands of tonnes from the ordinary people who were either desperate for a dollar or stupid enough to sell in order to buy "stuff".
I think that just gets folded into the aggregate numbers that are being imported by the East. Probably makes up a good chunk of the 'where the fuck are they getting all the gold from?' supply.
Peter Schiff: On Taper, China's Bombshell Announcements For Treasuries, Dollar And Gold
Peter Schiff talks about the bombshell of the year - China has announced the Mother Of All Tapering - PBOC Says No Longer in China's Interest to Increase Reserves. China is ready to reduce its balance sheet and they do not have to sell any US Treasuries - during the operation Twist they have used the golden opportunity and rolled over the long term treasuries into the shorter maturities. China can just allow US to repay maturing US Treasuries. We do not think here that they will accept Bitcoin. They have made this announcement after the record buying of Gold and some people are estimating that official Gold reserves are much higher than officially recognised today.http://sufiy.blogspot.co.uk/2013/11/peter-schiff-on-taper-chinas-bombshe...
Tptb are mockingly driving gold lower with each step of inflation.. Because they can.
The power/threat China held holding treasuries is deminished daily as the lawless gameboard says they mean nothing to Western CB that will just buy the market back.
They need to react now.
Harper and his cronies here in Canada are nothing more than "small red C's" posing as the U.S. Administration's bum buddies in global crime.These Conservatives would sell their own souls to the U.S. and already have for that matter.They supported a corrupt war in Afgan-Land just to allow the CIA to keep their illegal billions for overthrowing Governments around the world.Canada is now a "nothing" on the world stage.Ask anyone in the Armed Forces or any Canadian that travels overseas that needs help.They all have to go to friendly western embassies to get any help.Harper is nothing more than a stupid deadbeat Keynesian economist with a BA from Calgary who got in with the support of religious right wing fundamentalist christians that belong to the same distorted dominionist theories as Sarah Palin and her other wacho friend Michelle Bachman.They're all whackos,but Harper I have to admit has done a good job at seperating himself from this element in his Party.These are the same Kooks that put Mark Emery in the U.S. Goulag prison system for selling weed seeds in the mail.Very sick and mentally challeged deviants.