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Germany Gives Up On Trying To Repatriate Its Gold, Will Leave It In The Fed's "Safe Hands"
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:
Full article here.
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Not stupid, just trusting. :)
The persuasiveness of a strategically sourced NSA file can be quite impressive!! A whole bunch of DM government bureaucrats and bankers just got a first-hand education of that!!
Gold?!!What gold?!!Hans-we haf guld in NY? uf course we keep it there!!
Well if Germany is the smartest player in Europe this will now be a walkover for the Fed. Even if you were shown a 250 ton pile of gold, that same pile has been shown to many other claiments as well. Willkommen mein herr, do you speak english? Then fuck off. (Das Fools is an understatement).
Here are the results of the Sucker Olympics - Germany Gold!!!!
German Customs Operation exposes British Queen funding Osama Bin Laden German newspapers have reported that Osama bin Laden banked with the UK Queen’s bankers Coutts, which is part of the Royal Bank of Scotland. The accusation follows an operation by German customs officials seized documents from the Caymen Island branch of Coutts as it arrrived in Hamburg port. The two containers inspected by German officials contained an estimated 14,000 documents. The officials moved in to discover details of suspected tax evasion by German nationals.
After GreatGameIndia in it’s explosive report exposed how the 2014 Indian LokSabha Elections was a British Intelligence PsyOps now an operation by German Customs official led to another expose that of the British Queen funding Osama Bin Laden.
Following the accusations DailyMail in it’s 23 June 2014 report titled Queen’s bank forced to deny that Osama Bin Laden had an account there after 14,000 documents seized from Cayman Islands branch reports that the Queen’s bank has denied claims in European newspapers that Osama Bin Laden ever held an account with the organisation.
In 2012, Coutts was fined £8.75million for ‘serious and systematic’ failings when handling money from suspected criminals or foreign despots.
German Customs Operation exposes British Queen funding Osama Bin Laden
"Germany" has given up regarding their gold ?
Nothing but b.s. collectivist language ("Germany") to protect the guilty. (Like talk of 'America's' actions in the middle east.) Some individuals or individual made that decision, if this account is accurate. (Prompted by personal bribes or threats ?)
I would think there are a lot of German people who woudn't agree with such a move one bit.
Wow !! Every day I read something more fucked up then the day before !!!!
This would be the que for everyone to panic.
German media has done a full 180 on the NSA thing recently as well. Something has changed for sure.
Wonder if "what changed" has anyting to do with future natural gas shipments from Uncle Vlad?
So the jig is up? Perhaps the great derivatives unwind begins. Watch out - Avalanche!!!
this is just them talking in code to agree to a tie thursday.
+1 (2-2)
>>what changed
WWIII has now started in earnest (Ukraine, Iraq, Syria). Zato minions will toe the line or else.
Foreign media reported the Germans were busted listening in on everyone as well and were ridiculed for attacking the NSA.
+1
but, i don't think our reality simulation programmer will allow that to happen.
Das Age of Gold has ended, let the Age of Platinum begin ! Ja ja !
US kindly shared reports of pirates off the East Coast including the Long Island Sound and Germany wisely agreed to keep it in safe hands in NYC.
Martha's Vineyard might as well be called Pirate's Cove. rrr
Herr Bitchez
Germany has now confirmed their gold is long gone. Another conspiracy theory (fact) proven.
another conspiracy: This is related to the fact that no new bankers need to be killed now.
What has "need" got to do with that?
Either the NSA has some juicy tidbits on those involved in Germany or the FED threatened a financial Samson option.
But as CPL has stated, its getting time for everyone to panic...
Let us just say, even with the SD surveying the USA just as the NSA did vice versa, and Germany having several more nukes than the US, and gold would not be in demand at all...the tptb of the US would not be able to have that gold or transport it back.
It is an issue beyond their command.
Germany has more nukes than the US? I'd bet the US has more nukes in Germany, than Germany has under their control...
Care to take the over/under on that one?
No, it was a hypothetical example with the same "economic" system in place, but with slightly different parameters.
Even if Ron Paul seized power tomorrow, ordered an audit of the government...there would be no gold.
nukes are kinda like brylcreem (http://www.youtube.com/watch?v=o6F4GtyRfto) just a little dab will do you !!! Don't matter who has more...
Come on... when we are talking about nukes it is always better to have MOAR! Must be, because that has been policy for 70 years.
No. Not really.
The reason plutonium and uranium have a "Half-Life" is because their "Full Life" is limited.
So, having a nuke doesn't mean much. It is enrichment capability that means something.
Plutonium's half life is about 90 years. But to be usable as a nuke it must be highly enriched to form a 'fissionable mass' at anthing like a reasonable weight for a missile. To keep the weight reasonable you can't have lots of extra fissionable masses of it in the bomb.
Put those two facts together and a nuke stops being a bomb after a handful of years.
So if you don't constantly keep enriching it, you don't have bombs anymore, just radioactive candidates for fuel rods in a reactor.
It would have been far better for the Germans to lie and say they received the gold from the Fed. At least that would have helped preserve the illusion for the masses that everyone's gold actually exists.
I don't know what frightens me more... the fact that there is little gold (hence time) left or that these clowns are clearly incompetent.
little time left for what? economic collapse? never going to happen. another great war is already on the move.
Everything is fine. Might as well store their "gold" at Disneyland.
Do like I do... just laugh about it and keep stacking.
What a bunch of chickenshits. I actually used to think Germans had a backbone. Guess I was wrong. Heil Merkel!
Ever since the US and Russians messed beat them into the ground they have been push-overs.
No one wants to point out the obvious " The Emperor is wearing no clothes" Plus his bling has been nicked!
The emperor is naked and the weiner is small.
Hahahahahahahahahahahahahahahahaha! This further proves that there is no gold in "US hands" as we sold all the shit to the east (mostly China) in the hopes that we could paper drive the price down causing the Chinese to panic and sell and buy it back on the cheap. Too bad for the west that the east doesn't sell, they ignore those pixels that represent a "price".
They sell it for heroin... at least they did the last time. They also give it up to gunboats, though this time may be a bit different.
A song for Germany:
https://www.youtube.com/watch?v=JGZnIBwe4_Y
Double Talkin' Jive, get the money motherfucker cause I got no more patience. Double talking liar, no more patience... man.
Once the gold gets into China proper from HK, the export limit is 50 grams per person.
The only gold exported in mass would be by the PRC government.
On a per ounce basis it ia quite possible No Such Agency files considerably exceed the value of gold in dollars
I can only imagine that someone important in the German system has been suicided, compromised or bribed.
winter is coming...
Banksters must be in prison or killed. I still can't understand how people can fuck off own country...
US give immorality and suicide to the countries
I guess President Pillow Biter informed them of the potential "costs" of their requests.
LOL..Basically the U.S. said "Listen guys..the jig will be up if you presist on this and with China & Russia trying to end round the dollar from here on out and dumping bonds..this is going to be very bad for all of us"
We are not far from the end now.
That supposed delicious piglet in that poke has been making suspicious yowling noises for quite some time now.
Hahahahahahahah.....Crap this shit is funny. Yet another conspiracy theory turns out to be fact. Now let's talk about JFK.
You mean the man who got waxed immediately after he tried to put the US back on the silver standard?
"There is no there there."
--Gertrude Stein
Losers
Just incredible...
Why doesn't Germany start buying gold in the open market, and then shortly thereafter sell or swap an equal amount of their Fed-held "gold" for dollars?
For the same reason as they decided to leave 'it' where it is now, someone somewhere has blackmail leverage over them. Nukes, financial armageddon, NSA transcripts of their vices, who knows what the leverage is. We just know it has to exist.
The yield on the 10 year UST is basically propping up Deutsche Bank, if that pops meaningfully above 3% for more than a few weeks, said bank is in very, very deep shit.
Now consider who controls said yield.
in the grand scheme of things, deutsche bank would be the least of everybody's problems if this scenario would really unwind. most of the major banks would be insolvent. but it won't happen. war will take care of everything.
I picture a slew of Alpine styled kiosks cropping up all over the US, staffed by cheerful blondes named Gunther wearing green felt hats with feathers...
"Vee pay ze highest prices!"
it ends in a wet fart
he wise send out little "tester" farts first...
....from the bunghole of bath house barry.
"What if I told you there was no gold" Morpheus
What a pity! It appears that, like the US, German foreign policy has become a function of domestic politics. Does it not seem a little ridiculous that Germany should forego the opportunity to repatriate its national treasure just to frustrate the hopes of a minority party?
The NSA must have hit some serious dirt on Angela....
her favorite slave girl/boy was probably sacrificed at a Bilderberg conference in order to DRIVE a point home. The point? Your ass belongs to the MASTERs. Make too much noise and something will happen to you, kinda like what happened to JFK.
Hmmm, what do you think the Bilderberg prefers, old school knife on a stone slab, orrrr perhaps something kinkier...
Check out "Speed Grapher" a Japanese anime of extra good quality...
;-D
that is for sure!
FRBNY: "Look, dipshits, your gold has been rehypothecated to the nth degree, we been doing that since we got it. You think China just figured out that Qingdao CCFD shit on there own? Hell, they learned that shit from the best! So you're gold's gone, and yeah, that's a real bitch. But here's the deal. You can make a stink about this, cry and bitch, and bring the whole fucking system down. Or, you can be good boys and girls, keep your fucking mouths shut, and we can keep going on like nothings wrong, and the world will be just fine.
So what's it gonna be?"
Germany caved in because it would upset to many apple carts. The Chinese would be furious they couldn't pick up world mined supply at a fraction of its cost, along with Russia and the rest of the east.
I guess pretending you have 3500 tons of gold is better than wet cold empty hands and no friends.
Fed's safe hands = oxymoron
Fed banker :
https://www.youtube.com/watch?v=-DT7bX-B1Mg
Raise your hand if you didn't see this one coming.........um yeah, your gold is in China now so whadda ya gonna do about it?!
The Chinese will eventually be able to buy Porsche's and Benz's for an ounce of gold.
More than that.
At the depth of the Weimar currency crash, there was one reported instance of an entire block of downtown Berlin being traded for 25 ounces of gold.
So, soon enough I should be able to get one of those new Royal Enfield motorcycles with a Maple.
......perhaps the gold is actually in the Secret Vault of the Red Shield Clan.
German government feeding it's people into the banker meat grinder.
Doing just that since 1871.
germany just needed to save face. when someone tells you fuck you in a nice way in front of crowd in words that are not actual 'fuck you', you tell them thanks and have a nice day.
works best for everyone.
It is the conclusion that even with the USA with the noblest intentions, which it does not have, will not able to return the gold.
So in effect Germany has ceased to play pretend.
https://resistanceauthentique.wordpress.com/2014/06/22/des-manifestation...
Maybe you should translate that ...
It means that Germany (and EU) and russia will kick USA ...
" 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."
And what is this great threat? The threat that drove the German Gold to New York was the threat of a Soviet Invasion.
Who could possibly militarily threaten Germany today? Who could...
...Oh.
Now Ukraine makes perfect sense from the Western Regime's point of view.
more like america swapping there dick from germany's ass , to germany's mouth.
ass to mouth----it's really something else!
If there's one thing that the USA is still good at it's 'pressure'...
world class!
kingworldnews is going to have a field day with this one !!!
yea king world news will be so much different today now that this story is out.....it's gonna sound like this.
THIS IS KINGWORLDNEWWWWWWWWS. GOLD GOLD GOLD gold gGOLD goldminers GOLD GOLD GOLD! GOLD GOLD GERMANY GOLD GOLD GOLD THE FED GOLD . !!!
OLD GOLD GOLD gold gGOLD goldminers GOLD GOLD GOLD! GOLD GOLD GERMANY GOLD GOLD GOLD THE FED GOLD . !!!
OLD GOLD GOLD gold gGOLD goldminers GOLD GOLD GOLD! GOLD GOLD GERMANY GOLD GOLD GOLD THE FED GOLD . !!!
OLD GOLD GOLD gold gGOLD goldminers GOLD GOLD GOLD! GOLD GOLD GERMANY GOLD GOLD GOLD THE FED GOLD . !!!
OLD GOLD GOLD gold gGOLD goldminers GOLD GOLD GOLD! GOLD GOLD GERMANY GOLD GOLD GOLD THE FED GOLD . !!!
OLD GOLD GOLD gold gGOLD goldminers GOLD GOLD GOLD! GOLD GOLD GERMANY GOLD GOLD GOLD THE FED GOLD . !!!
This is a default. The order was placed, man.
The citizens of Germany may not be so agreeable to this deal. They were behind the repatriation move. Now they get a big, fat 'nein' from their sold out pols.
Its probably to instill confidence in the other countries looking at Germany and saying.."sheeeit..if Mother Germany wants their shiney back, we do too"
US probably told germany, "you tell the world you trust us, we'll get you your gold...eventually. ...if you dont play, well, we will say like everyone else says..it went down in a boating accident"
its a default
Why would a country store it's gold in a country other than itself?
That's like saying to my neighbor....here is all of my money, I entrust in you it's safe keeping.
Clearly blackmail, skeletons, and closets are involved here at the highest echelons of power. The NSA is not involved.
That "free" US military protection wasn't so free after all. Kick the bums out.
As you lot realise, none of this ends till fractional reseve banking ends.
Inducing a man for his labour for nothing is a mortal sin. Fuck the gold, give a man his worth.
Your money changing printing the cunt from thin air is running short.
Never mind gold you cunts, you might want to worry about your necks.
Fucking bastards. Everything youve got coming, you earned, cunts.
;-)
There has not been enough 'cunt' on this site lately. Welcome back itm96.
I second that Terminus. Mixy gets me fired up with his rants.
Yes, welcome back, ITM96.
The solution is-- fractional reserve gold!
/s
So its like the Chinese situation... Turns out there is a shortage of the ( insert finite metal here) than previously thought.
This seems to be the truth sooner than expected. THE big secret.... There is a much larger shortage of metals ( and other resources) than has been let on. When that realization hits...year or two... It will be very ugly. Temporary stabilization is the game. Distraction via small conflict will be the mantra...
The interesting wildcard could be some peripheral and even main ( think France or even portions of US...border) issues, riots, etc.. Things are about to get very interesting.
" THE big secret.... There is a much larger shortage of metals ( and other resources) than has been let on. When that realization hits...year or two... It will be very ugly."
How convenient that the IMF has suggested, and many nations have legally formalized, the concept of "bailin" wherein paper reciept holders have the neceassary portion of their holdings simply confiscated to make up for any shortfall suffered by any too big to fail entity (hell, any entity)
The sad thing is, the original IMF papers on the matter called for executive punishment at the same time, but this part has not made it into the laws of places like Canada.
As always, those who trust what the authorities say will be hurt the most. Those with no trust will be hated, but hurt the least. This is the reason for these moneyshot quotes:
“Objectively, there’s absolutely no reason for mistrust.” "German gold abroad is stored “only at central banks of the highest international reputation”"
If you don't hold it... aw fuck it, whats on TV?
If they wanted to cover and make the US Federal Reserve look good they would have surpised the markets and said they had all their gold back.
This means something else is going on here.
That transfers the lie from the Fed to Germany. Maybe they would rather maintain the option to collect in the future than just say they have it and lose it forever. It is gone for good regardless. This system is done. All these clowns have is people's confidence in their ability to run a ponzi scheme.
Fucking idiots, they deserve to be eaten alive by the Chinese and Russians now.
Bend over Fritz....if you want to survive.
WOW.
Now that's a sham layered upon a sham.
"We'lll deliver ya's gold, sure thing bawss. Jus as soons as we finds it"
... time passes...
"Izz now okay Amayreekahn friends, vee haz no furder need of zee gold but in your mozzt safe handz!"
"Thank ye kindly Mister Franz, you knows we got yer full faith'n'credit of da Yooknighted States behind ya's!"
"This is not the gold you seek................Fritz."
There is a tiny country that sits in the southwest corner of Europe that back in the 1990's lent 17 tonnes of gold to Drexel Lambert. Drexel Lambert went bye bye and so did the gold of that poor tiny country. Apparently Germany, a country that should never forget history, appears to have forgotten this little bit of European history, or they are simply too afraid of the big bad USA to demand the immediate return of their gold. Because, make no mistake about it, just like Portugal lost its gold to Lambert, so shall Germany lose theirs to the U.S., or more accurately, China. The German people should be outraged about this, as should have the Portuguese, as should we about our own reserves having left Fort Knox for eastern shores. But I fear that the sheeple of the world are more alike than I thought.
another story from the north-east corner of europe:
I did some research on Estonian gold reserves (or how we lost it). It’s another example how we were liberated from our gold reserves (probably by the west) after gaining the independence from Soviet Union. I also found some interesting information on bolshevik's gold.
Currently we are one of the countries with least gold in the world, with meager 233,9 kg.
The First Estonian Republic was established in 1918. After defeating Russian invasions during War of Independence 1918-1920, on 2nd of February 1920 Tartu Peace treaty was signed, according to which Russia was to give Estonia 15 million gold rubles for war reparations equaling 11 tons 613 kg and 510 grams in pure gold. Considering the size of the country and the population, it’s not an insignificant quantity.
For obvious reasons, it was stored for safekeeping in United Kingdom and in Swedish Kingdom. It proved to be a wise strategy as during WW2, from 1940-1944, Estonia witnessed Soviet Union military invasion and occupation following by German military invasion and occupation, ending again in Soviet occupation in 1944. As Estonia was again a battleground for two major forces during WW2, the country was in ruins and had no military might to withstand another invasion like it did after WW1. Estonia was finally annexed to Soviet Union without a shot fired. Even though Sweden and UK betrayed our trust and gave the gold to Soviet Union, after regaining our Independence in 1991, it was promised to be returned to its legal owners. The gold was given back by UK and Sweden, not by Russia. Was there a special deal that they agreed to give over the gold twice?
Estonia started the money reforms in 1992 and the gold was supposed to be collateral for our new currency, Estonian Krona, but reparation stalled and instead the currency was backed by forest (timber as a resource) which Estonia has plenty, covering 50% of its territory.
So finally when the gold returned to home, it had no use in the minds of Estonian politicians and central bankers. Only god knows where they got this idea. 3,9 tons was sold immediately, bought back within few days with higher price, and then sold again with another loss, costing us 12 million Krona’s.
State auditors were denied access to any central bank documents regarding the gold transactions. Later rest of the gold was sold to unknown buyers and there is no further knowledge about these matters.
Btw, bolsheviks had 1,101 million gold rubles after WW1 but because it was taken by force from citizens, aristocrats and from czar et al, exchanges were not accepting it due to the economic sanctions established by Western governments. So Estonia was quite a convenient place to launder bolshevik’s gold as it had already received large quantities with Tartu Peace Treaty repatriations.
Tallinn became one of the main windows for the bolshevik’s imports. For example, in 1920 local bolshevik representative office in Tallinn had more than 6,5 kg of stolen brilliants, sapphires, and other precious stones, while Estonian central bank, along with some commercial banks, was used to launder gold, different previous Russian state rubles, foreign currencies, and other valuables, with the exchange loss up to 40%. It was to buy anything from herring to potatoes, from scythes to gatling guns, though most of it was weaponry and other military equipment.
The commerce was so heavy that it clogged Tallinn harbour and Narva-Petrograd railroad transit capacity couldn’t meet the demand. The high concentration of gold in Tallinn attracted carpetbaggers from all across the world and thus Tallinn earned the name of ‘International Cloaca’.
All the fun came to an end in 1921 when England established temporary free trade agreement with bolshevik’s government.
During 1920-1921 Estonia laundered at least 683,5 million gold rubles which equals 700 metric tons of gold in coins while excluding bullion. Approximately 80 million gold rubles was the commission Estonians earned on this shadow economy which was just shy of earnings on official exports during those 2 years. It also nearly equaled the sum Estonian War of Independence cost to us.
Ve haf no need of ze barborous relic
Putin to Merkel: "Don't worry about the gold. Join us and China in the Eurasian Union and you will see more gold than ever..."
Realized it was just some gold-tin foil and really rancid chocolate underneath left over from Easter '68. Operation 'Golden Egg' will come available via a FOIA request in 2248.
One lone assassin could get the gold back, but a government of a country can't.
this is news? non-surprise.
now, here is something that should get your reading attention.
deals have been made.
now time to implement.
the EU's summer of surprise is coming to a theater near you ;-)
http://www.ft.com/intl/cms/s/342ef1a6-f7b9-11e3-b2cf-00144
http://www.telegraph.co.uk/news/worldnews/europe/eu/10918134/Italy-to-pu...
http://euobserver.com/foreign/124695
http://www.ibtimes.co.uk/uk-will-be-forced-join-euro-leave-eu-if-brussel...
Face it fellas awful tough to rely too much on stackin I mean christ NOBODY can pin down how much gold exists and who owns it. ALL of the data on this is in some way connected to TPTB.
Farmland in S. America primarily
Bitcoin
Another compelling entry point likely approaching between 540-560 if it drips down on low volume and without a legitimate "news" event again emphasis on legitimate. Probably won't sit there for long as others see what I am seeing, no?
So you don't fancy silver at $20? I think we probably can pin down how much exists, but that was never a pre-requisite for real money anyway. I don't see what you're seeing, and I never saw a bitcoin and I never will.
We disagree on BTC. Good luck bro. I am referring to the chart and price action.
I've been very consistent. I completely agree PMs are a very legitimate store of value SO LONG AS the markets and society place a value on them for serving some type of purpose(s). They have very little practical use.
Silver at $20? Meh. Let's see if this is just a headfake. If so new lows should follow that. If not it ain't skyrocketing overnight it will pop and come back to test key levels after a new trend is established. At that point maybe I get long with a much better risk/reward scenario than buying right here and right now hoping this is a real breakout.
So what does your hard-headed technical analysis of bitcoin say? Doesn't really make a lot of sense that you scrutinise historical money and say "Meh" as we bottom out nicely on the chart... and then say we have an entry point in bitcoin on low volume. Maybe it's just a low volume Meh formation?
I love you guys, I guess SO LONG AS you bitcoiners keep dreaming of a techno utopia you will continue to think that you can supplant real money with yet another substitute, and I also suppose if you can sell the idea to enough people you can get another leg up in the price and some greater fools to sell to. That's what I'm seeing. I also think that you really do have balls to bring your bitcoin obession to a post about the Fed's failure to deliver gold to a very significant sovereign state. I mean, that takes a level of devotion to bitcoin to think it's more important than the bundesbank's gold basically going missing! So you've "been very consistent" and that's good - keep taking the pills, consistently, as directed by your physician.
Seems like you are taking this a bit personal. First of all, I am not a "Bitcoiner". I am trying to be realistic about how society and mankind can potentially move its way forward through and past this enormous shit show created by central bankers and politicians. One conclusion I've drawn is that literally the ONLY way to have a sustainable and sound financial system is to eliminate humans from having control of the "printers" if you will among other areas. Bitcoin to me is the most likely way for us to accomplish this. Farmland in certain parts of the world along with Bitcoin are very appealing to me not just from a value and potential price appreciation standpoint but also given the risks of confiscation and utter collapse of the entire system. They also work synergistically as well in my humble view (Bitcoin saves the global financial system thus allowing population growth to continue thus creating huge increases in demand for calories).
I use all kinds of TA but in short using a logarithmic scaled chart this motherfucker could be sitting on a major launching pad when one uses reasonable trend lines and important MAs. It's actually very easy to see in particular if you view a weekly chart (emphasis on log scale).
You and others may feel silver has "bottomed out" and perhaps it has. I'm not convinced. We can be mature adults and disagree on that one. I would rather "lose out" or "miss out" now and wait for more confirmation because if this is a headfake then yes I do feel new lows will come into play.
Bitcoin is relevant to a post about the fact that the almighty Fed is completely full of shit and not only does it not have Germany's gold the US does not have the gold it claims to have. Criticize Bitcoin all you want but at least it's transparent and predictable with regards to the supply of Bitcoin now and moving forward.
The last thing I'll say is that I don't feel most people truly understand what Bitcoin can do potentially. I didn't either at first. Now I do.
I don't understand bitcoin. I tried to start understanding it, but when I got to the part where the value of a bitcoin is set by something apparently more arbitrary than even what sets the price of PMs, I immediately backed off. Then the lost bitcoin reports started coming in.
Again, I DON'T understand, but it APPEARS there are [too] many moving parts to consider bitcoin a store of value. One-off, anonymous transactions, whereby the bitcoin is only retained for a few moments... yeah that makes sense.
And sure, gold/silver coins may have no value for some period of time when things breakdown. People may be willing to accept only food and the means to make food. Bottom line, the end of the logic chain puts you at real goods. Containers full or real goods. Food, seed, energy makers, medicine, trade items, etc.
Am I completely out to lunch here?
I don't think you are out to lunch. In an Armageddon scenario with no electrical grid or energy infrastructure then weapons and the basics such as food rule. At that point who cares you will spend your life fighting to protect your food and trade items.
I feel QE and all this other "extend and pretend" bullshit is part of a plan to provide a parachute. They know this thing is going down. They are trying to delay it as long as possible and people are jockeying for position. Maybe the free market can come up with some options before the parachute ride down ends.
Bitcoin is a platform and an infrastructure for a new system. Think of disabling someone's car if they don't make the payment on the loan. Think of raising capital for a project in a remote part of Africa and recording all shareholder data And documentation on the block chain. This type of stuff is possible with an entirely new system.
Bend over Fritz....if you want to survive.
Essentially what this guy has been told.
John Travolta & Olivia Newton John
http://www.youtube.com/watch?v=wcdcciNsQbg (2:42)
Hey Rocky! Watch me pull a Middle East war out of my hat. Nothin' up my sleeve...Presto!
Bullwinkle's Hat Trick- All 4 animals
http://www.youtube.com/watch?v=kRW7pITY5Cg (1:02)
No doubt about it... someone needs to get a new hat.
They didn't want to have to go to Beijing for it.
Yet another nail in the coffin of the reserve currency dollar.
If it really is not there the Germans now know and if they can stiff a country with the power of Germany then every other country with gold 'safe' at the Fed now knows for certain that it is just ink on a piece of paper, a memory.
Time for anyone outside the US to convert anything they have denoted in dollars into something else whilst they still can. Bit like financial pass the parcel.
And the US wants Germany and the EU to meaningfully sanction Russia for the Ukraine? They have to be joking.
Germany will side with Russia in the near future - just a matter of time - the UK will as well - heck they are all probably in cahoots to rob the American people blind
I guess Goldfinger didn't understand rehypothecation and other modern tricks of the trade. Otherwise he wouldn't have gone to so much trouble to try and grab the tungsten bars at Ft. Knox
This Norbert guy would look a lot better with a nice baseball bat super slow motion to side-of-head jpeg over and over.
If you don't hold it, you don't own it. This is as true for the Germans as for the Fed. Because it ain't there! So they try to keep up the pretense.
No gold and perhaps no gas. "Fuck the EU", after all.
WWHD
What would Hitler Do?
I don't know. But this is what happenned when Hitler got a margin call. https://www.youtube.com/watch?v=eVB-SSkkLnY
Hilarious. They aren't willing to fake it? Reality has no place in Crime Syndicate Feudalism and Imperialism 2.0.
I'm surmising there are numerous older Hollywood directors and writers that are out of work or underemployed as a result of CGI. So let's add some professionalism.
Sure suspension of disbelief and yes plot holes happen, but an Ed Wood revival?
Austria will fold next!
Kick the globalists out of Germany. Long live the Kaiser.
The gold is not there.
Just as the money to honour all those American issue Treasury Bonds isn't there either.
Sure it is there. The Fed will have the Treasury create as many federal reserve notes as are need to cover it.
Too bad you won't be able to buy a cup of coffee with a trillion dollar note afterward ...
"Roosevelt and his Jew-ridden government have absconded with our Gold. After I have defeated the half-American Churchill, we will see who keeps that gold!"
(Applause in Reichstag)
Bugs Bunny Cartoons Full Episodes 8 Ball Bunny
http://www.youtube.com/watch?v=01K9xectoOM (7:05)
If I can find Newman's hideout, I can rescue the LC55 Rabbit.
Plop Goes The Weasel 1953)
http://www.youtube.com/watch?v=3qT8mAbsHI8 (6:42)
The leaders of the world are all corrupt - all - they may go in with honorable intentions but are soon swayed by greed and power - we need a global revolution to throw them all out on their asses! Only when the people have had enough and stand up will we be free of the parasites - it will happen - just a question of when
Sorry, had a finger spasm here...
If history is any kind of a teacher, that is exactly what has happened 100% of the times in the past... ;-D
Of course getting rid of despot Statists is like quitting smoking. What was it Rodney Daingerfield said? Oh yeah, "Quitting smoking is the easiest thing in the world to do. I've done it a hundred times...".
I don't know, but it was Richard Prior who claimed he'd been snorting cocaine for 15 years and still wasn't hooked.
In the year 2050, anarcho-syndicalism had won the War of the Oligarchs. Man was Free.
Only those individuals with a good record and NO desire to hold offfice were allowed to hold office, for 1 term only.
Anew law, first promulgated in the Texas Republic, allowed anyone to shoot a politician if he could prove the politician had Lied about public policy.
(LC, wake up, it is your turn on guard duty.)
So if Poland's alliance with the US is worthless then Germany's is........
The Poles are starting to figure that out.
Germany figured out that they where used as lubricant - and they are accepting it wholeheartedly?
So the Germans have realized that they are not going to get their gold back and are putting the best possible face on the pig that they have.
Yup. And I'm sure Merkel extracted some favor for dropping this.
More like threatend with Sanctions.