Germany Gives Up On Trying To Repatriate Its Gold, Will Leave It In The Fed's "Safe Hands"

Tyler Durden's picture

Several months after it was revealed that Germany was able to only recover a miserable 5 tons of its gold in all of 2013 (under 10% of the 84 tons it was scheduled to repatriate), Germany appears to have given up entirely in its attempt to recover gold which simply is not there, and as Michael Krieger reports, citing Bloomberg, has decided to keep "it" (by "it" we don't mean the gold since that clearly has not been at the Fed for decades, but merely the paper promises of ownership: for more see China's gold rehypothecation scandal and how the unwind works) at the NY Fed after all. That is to say, in the "safe hands" of former Goldmanite Bill Dudley.

Via Mike Krieger's Liberty Blitzkrieg blog,

Just last week, I published a post titled, Video of the Day – “End the Fed” Rallies are Exploding Throughout Germany, which subsequently went viral. Interestingly, only a few days later we find out that Germany’s very own criminal political class has decided it will continue to store the nation’s gold in New York rather than bring it back home as had been the intention. It’s quite ironic that just as protests against the fascist Federal Reserve are spreading throughout the land, the political class officially decides to keep Germany’s treasure across the Atlantic, in care of none other than The Fed itself.

To be fair, this merely seems like a way for Angela Merkel and the rest of her German cronies to save face. After all, it was very clear that the Federal Reserve had already told them “no” when they asked for the gold back in the first place. Why else would it take almost a decade to transport the gold from the U.S. to Germany, which was the latest repatriation schedule.

We learn from Bloomberg that:

Germany has decided its gold is safe in American hands.


Surging mistrust of the euro during Europe’s debt crisis fed a campaign to bring Germany’s entire $141 billion gold reserve home from New York and London. Now, after politics shifted in Chancellor Angela Merkel’s coalition, the government has concluded that stashing half its bullion abroad is prudent after all.


The Americans are taking good care of our gold,” Norbert Barthle, the budget spokesman for Merkel’s Christian Democratic bloc in parliament, said in an interview. “Objectively, there’s absolutely no reason for mistrust.”


Ending talk of repatriating the world’s second-biggest gold reserves removes a potential irritant in U.S.-German relations. It’s also a rebuff to critics including the anti-euro Alternative for Germany party, which says all the gold should return to Frankfurt so it can’t be impounded to blackmail Germany into keeping the currency union together.


The Bundesbank, Germany’s central bank, sent a delegation to the New York Fed’s vault in 2012 for spot checks on the hoard. As the gold’s guardian, the Frankfurt-based Bundesbank is obliged to ensure its safety. It says it’s sensible to store part of the reserves outside the country so they can be swapped more easily for foreign currency in an emergency.

This last sentence is absolutely incredible in its Orwellian irrationality. Swap gold easily for foreign currency? Foreign currency can be conjured up in infinite amounts at will by crooked bankers in suits with phony smiles and calming words filled with complex economic jargon. So Germany needs to be able to swap its gold for that? Well, it seems many nations are falling for this simple, yet effective scam, as I outlined in my post: Ecuador to Transfer More Than Half its Gold Reserves to Goldman Sachs in Exchange for “Liquidity.”

German gold reserves, the second-biggest in the world after those of the U.S., totaled 3,386.4 tons on March 31, according to World Gold Council data. Due to German postwar history, the biggest part is stored at the Federal Reserve Bank of New York; the rest is in London, Paris and Frankfurt.


Right now, our campaign is on hold,” Peter Boehringer, a Munich-based euro critic who co-founded an initiative to bring home all of Germany’s gold in 2012, said in an interview.

Right now and forever. Sorry suckers. This guy promises everything is just fine:

Screen Shot 2014-06-23 at 10.44.09 AM

Full article here.

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Mr Pink's picture

Geebus, sometimes I think I won't live long enough to see this system collapse

ZerOhead's picture

I'm surprised they didn't blame this on Russia's recent troop placements on the German border......

kliguy38's picture


jbvtme's picture

germany entrusted its gold to the same folks who goaded it into two wars and decimated its land and culture? the same germans who gave the world the leica camera, bmw motorcycle and the braun electric razor?  what am i missing?

Pladizow's picture

The gold can't be moved due to the weather - duh!

Gaius Frakkin' Baltar's picture

Sounds like the right people were bought off with some fiat...

msmith9962's picture

First shipment was just a nail gun.

Pinto Currency's picture



Relief in NY & London - that US / Soros chaos in Ukraine worked out just in time.

pods's picture

Aaaaaaaaaaaaaaaaaaand, it's gone! Poof.

johngaltfla's picture

Maybe we offered to send our senile former Secretary of State Hildabeast over to offer "golden showers in lieu of payment" and the Germans said "bleh, you can steal our gold" instead.


Man, that's a visual that would make me surrender.

Save_America1st's picture

wow, what a bunch of German pussies.  They should make a huge fucking deal about it.  Their people are pretty fuckin' pissed.  They shouldn't let the Fed or obama off the hook for this. 

Video of the Day – “End the Fed” Rallies are Exploding Throughout Germany

I sure wish the American people would protest as hard against the Fed as these Germans are.  Why give up now.  The whole world is dumping the dollar and it's all the Fed's fault.  Keep the pressure up, cuz these scumbag central banksters need to be shut down and thrown in prison.


7.62x54r's picture

Bad assumption there. The powers that be in Germany know full well all that gold is simply hypothecated paper. They never wanted repatriation.

This request was forced by TEA Party type troublemakers in Germany.

Terminus C's picture

Look at all that unoccupied territory in Germany.  Get to work Mr. President!

Pinto Currency's picture

Really Bloomberg?

Note neither Boehringer's campaign nor Germany's 300 tonne gold repatriation has stopped as Bloomberg implies (all these mistakes about gold by Bloomberg.  Strange.)

From the comments section, Boehringer says:

" Just to set the record straight re this article in which my name is mentioned and in which I am quoted out of context:

a) BusinessWeek/Bloomberg uncritically cites statements of politicians and BuBa-bankers who have or give no proof whatsoever re the untouched whereabouts of the german Gold.

b) Re our campaign "Repatriate our Gold" : "On hold" does of course NOT mean that we are in any way satisfied with the current status of BuBa´s ongoing repatriation (far too slow and too little - only 5 tons came from NY in 2013! Not exactly a proof for the untouched existence of 1500 tons in a NY vault unaudited since 1950...). Our public campaign will therefore have to continue.

c) Almost no info in the article can be considered in any way "news". Simply because there has not been any material news in this context since early 2013.

d) Especially the headline is plainly false, because there has not been any change in BuBa´s (too slow) repatriation plans: at least 300+ tonnes will come from NY by end 2020. It is not much - but contrary to the headline, BuBa has NOT stopped the ongoing partial repatriation - enforced solely by public pressure!

e) The political party "Alternative for Germany" has never been part of our campaign - they can therefore not have been "rebuffed" as the article suggests.

f) The political party "FDP" has (with the exception of one (1) MP ) never demanded a repatriation - yet another false info in the article.

g) Some politicians cited in the article can not in any way claim to be "in charge" of the german gold hoard (abroad or not). This holds true for both Mr Barthle and for Mr Hardt: BuBa alone is in charge - and officially, BuBa is independent from political influence...

Summary: a "non-news" article with a wrong headline, strange interviewees, old news, and with a clearly apologetic ideological approach: the main purpose seems to be NOT to give space to the myriad of unanswered and extremely relevant questions BuBa and the Fed have been refusing to answer for decades. Pls read more at "Repatriate our Gold"



Here is the link:


BusinessWeek and Bloomberg have penned desperation propaganda.

Gold may be at launch point.



trader1's picture





his english is pretty damn good!  or he has a good translatoror, a good poseur. ;-)

makes me wonder what % of americans that could could write a similar, coherent text in german or any other foreign language,

Pinto Currency's picture


Let's wait a few days - if it is as misleading as Boehringer states, then this will be corrected shortly.

Given the German anti-Fed rallies, this article will not be ignored in Germany.

krispkritter's picture

Fahrfrumnuggets...or Fahrfrumgetten (anything back). Auf Wiedersehn!

Stuart's picture

Ecuador sure as hell better be paying attention!   

eclectic syncretist's picture

A snake with a golden where have I heard of that before?

whotookmyalias's picture

Just how fucked up do things have to get bafore the masses get angry?

MeMadMax's picture

This is not the gold that you are looking for...


Quit complaining or get a nuke shoved up ur ass...

Manthong's picture

“gold is safe in American hands”

Danke schoene, komerades.

Optimusprime's picture

MANY Germans speak excellent English.

Mitzibitzi's picture

Indeed. I was working over there a few years back and was looking forward to brushing up my decidely average German. Nope! In 6 1/2 weeks, I think I had maybe three conversations that weren't in nearly perfect English. And even those were a Deutsch-lish mish-mash, rather than entirely in German.

Manthong's picture

if they could only get that V -W thing fixed.

BandGap's picture

You recite your thesis defense in Germany. You must be fluent in English to get a PhD in Germany.

jeff montanye's picture

like latin up into, what, the nineteenth century? p.s. nice work pinto.

Manthong's picture

if you do not have some basics in romance languages and math terminology. you will reveal your self as a fool.

I had a freaking boss who wrote "Bata Test" on the whiteboard..

I knew it was over for me there.

effendi's picture

You have to wonder what % of Americans can write a coherent sentence in English. Look at the decline in reading standards, the failure to teach cursive and that the majority of high sKoul "graduates" cannot write a simple job application form. Ebonics and not English is the native tongue of millions of Americans.

Midas's picture

If Barack had a son he would look like an ebonics speaker.

Manthong's picture

 I think it even goes back before the current mo--fo-in chief....   from the original  "Airplane".

First Jive Dude: Shiiiiit, maaaaan. That honky muf' be messin' mah old lady... got to be runnin' cold upside down his head, you know?

Second Jive Dude: Hey home', I can dig it. Know ain't gonna lay no mo' big rap up on you, man!

First Jive Dude: I say hey, sky... subba say I wan' see...

Second Jive Dude: Uh-huh.

First Jive Dude: ...pray to J I did the same-ol', same-ol'!

Second Jive Dude: Hey... knock a self a pro, Slick! That gray matter backlot perform us DOWN, I take TCB-in', man!

First Jive Dude: Hey, you know what they say: see a broad to get dat booty yak 'em...

First Jive Dude, Second Jive Dude: ...leg 'er down a smack 'em yak 'em!

First Jive Dude: COL' got to be! Y'know? Shiiiiit.

scene two

Randy: Can I get you something?

Second Jive Dude: 'S'mofo butter layin' me to da' BONE! Jackin' me up... tight me!

Randy: I'm sorry, I don't understand.

First Jive Dude: Cutty say 'e can't HANG!

Jive Lady: Oh, stewardess! I speak jive.

Randy: Oh, good.

Jive Lady: He said that he's in great pain and he wants to know if you can help him.

Randy: All right. Would you tell him to just relax and I'll be back as soon as I can with some medicine?

Jive Lady: [to the Second Jive Dude] Jus' hang loose, blood. She gonna catch ya up on da rebound on da med side.

Second Jive Dude: What it is, big mama? My mama no raise no dummies. I dug her rap!

Jive Lady: Cut me some slack, Jack! Chump don' want no help, chump don't GET da help!

First Jive Dude: Say 'e can't hang, say seven up!

Jive Lady: Jive-ass dude don't got no brains anyhow! Shiiiiit.

Does anybody here speak Jive? What is actually being said during these scenes?

Ghordius's picture

agree, the Bloomberg article is full of BS. in particular:

"Ending talk of repatriating the world’s second-biggest gold reserves removes a potential irritant in U.S.-German relations. It’s also a rebuff to critics including the anti-euro Alternative for Germany party, which says all the gold should return to Frankfurt so it can’t be impounded to blackmail Germany into keeping the currency union together."

besides the fact that AfD has never been part of the German gold repatriation campaign...

...LOL. the whole concept of NY and London forcing Germany to stay in the EUR is beyond silly. If Germany would really go back to the D-Mark champagne would flow in both cities. in rivers

Crazy Or Not's picture

"lanch point"? 
There is a "Table Resetting" underway.
Owning Gold just buys into needing a big guy at the head of the table giving orders. And nobody here is that man. 
There is no (it appears) meaningful physical Gold left to launch, existing supply is already stamped with a million tickets and when that fight is over legislation will prohibit private ownership or trading.
At which point all the snooping will make sense. Merkel is pissed for a reason, as will others when their trades become evidence.

john39's picture

getting conquered by ZATO has its drawbacks, for sure...  but ponder, is the U.S. in any better position than Germany with respect to its gold?   Conquered just the same, with nary a shot fired... all by the power of the mighty printing press.

Stuck on Zero's picture

That map is the exact opposite for car dealerships.  BMW, Porsche, VW, Audi, and Mercedes dealerships everywhere.  How many U.S. auto dealers in Germany?


hedgeless_horseman's picture



They send us their excellent vehicles, and in return, we send them 1s and 0s on a computer terminal.

trader1's picture

...and the us concedes to all key objections raised by the EU in order for TTIP to have any chance of being signed.

Manthong's picture

I have a hard time translating wierd acronyms..  TTP.. TAP.. SNAFU.. FUBAR.. BOHICA. .

to hell with it all.

shouldvekilledthem's picture

American vehicles are considered low quality in Europe. Mind the few americanized europeans who wet themselves in sight of anything which is american.

I've been to 'murica and driven some of the "iconic" cars, like the mustang or camaro, while I don't consider them bad at all, they don't even come close to the big 3 German brands.


Manthong's picture

So I was low man on the totem pole …. What a good place to be when with a group of execs landing in Munich. Although I had a Director title I ended up being the designated chauffer and was told to rent a big Mercedes.

After the days meetings and making sure the manglers were safe in their hotel rooms.. how far south on the Autobahn through the Bavarian Alps and at what speed might you think I got there? 

Who needs freaking airplanes with this tech in civlian looking tanks?

OMG.. I never need sex again.. this was so much better.

Manthong's picture

<<<< Vote.. + 190 Km/hr

<<<< (-) 190 km Km/hr

.. I just wish there was another vote line for the glory and the shit-eating grin.

.and there were guys passing me.

Confused's picture

Hedgeless for the win. 


This is a key piece of the puzzle.


The question then becomes, what does Germany (ie the ruling political class) get in return?