• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

Head Of German Gold Repatriation Initiative Responds To Bloomberg Story About Repatriation Halt

Tyler Durden's picture




 

Just hours after we noted Bloomberg's story of Germany's decision to halt its repatriation of gold from the NY Fed, the gentleman at the center of the story, who Bloomberg quoted as saying his 'Repatriate Our Gold' campaign was "on hold" - Peter Boehringer - has come out swinging... The Bloomberg story is "a 'non-news' article with a wrong headline, strange interviewees, old news, and with a clearly apologetic ideological approach." and that's just the start...

From Peter Boehringer (via Bloomberg Businessweek),

 

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"

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Mon, 06/23/2014 - 22:00 | 4887961 Stuck on Zero
Stuck on Zero's picture

That article was no accident.  Someone is testing the waters...

Mon, 06/23/2014 - 22:06 | 4887975 Five8Charlie
Five8Charlie's picture

 “Objectively, there’s absolutely no reason for mistrust.”

Objectively, if someone starts saying there is no reason for mistrust, you can bet there damn well is a good reason. 


Mon, 06/23/2014 - 22:10 | 4887986 0z
0z's picture

If they really want their Gold, they're gonna have to go and get it themselves.
#WAR 

Mon, 06/23/2014 - 22:21 | 4888020 SumTing Wong
SumTing Wong's picture

Someone is testing the waters.

First there's the rehypoteciation shit going on in China. Now Deutschland isn't going to get back their gold. Trial balloon. And it's going over like a lead zeppelin.

Mon, 06/23/2014 - 22:28 | 4888037 disabledvet
disabledvet's picture

His was what I was gonna say.
"The Chinese want their gold back too."

Actually...they probably want it to exist in the first place.

"Somewhere in the vaults in Deutche Bank there is a piece of paper...
(Cue Twilight Zone intro)

Mon, 06/23/2014 - 22:47 | 4888074 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

This is all the evidence you need to realize America is nothing more than an empire hell-bent on conquest. Every nation it “liberates” quickly finds its gold looted and shipped off to New York City under the guise of eternal safekeeping. The game hasn't changed much since Rome, except the subtleness of it thanks to more sophisticated propaganda.

Mon, 06/23/2014 - 23:01 | 4888105 wee-weed up
wee-weed up's picture

 

 

We need to get Frau Merkel to comment about this on the record so...

German citizens can hear her official opinion on their "never-to-be-returned" gold.

Methinks they might be pissed!

Mon, 06/23/2014 - 23:08 | 4888123 kliguy38
kliguy38's picture

This is all very normal procedure for the Fed once sovereign gold has been sold over 100 times. I really believe they will return this gold eventually once hell freezes over or Corzine goes to jail.

Mon, 06/23/2014 - 23:18 | 4888143 SafelyGraze
SafelyGraze's picture

so .. just to be clear .. basically this article is confirming that germans are happy with leaving their gold in the safe care of the fed, which has proved itself to be a trustworthy steward

or did I miss something

 

Mon, 06/23/2014 - 23:27 | 4888168 BobPaulson
BobPaulson's picture

Can you say "illiquid"?

Mon, 06/23/2014 - 23:53 | 4888201 Pinto Currency
Pinto Currency's picture

 

Don't think all the central bankers didn't notice those street protests in Germany.

They and the banking industry must be truly frightened given that it is plain for even Helmut Q Public to see how badly they've run the world off the rails.

And Bloomberg is right in there trying to market the paper pusher agenda.

It all goes back to those who took the US and the world off of gold money and onto trading pretend gold.

The central bankers are just the screw-ups at the scene of the accident - although even those screw-ups at some point know exactly what they are doing.

Mon, 06/23/2014 - 23:58 | 4888233 DoChenRollingBearing
DoChenRollingBearing's picture

This whole sordid matter of Germany NOT getting their gold back should serve as a warning.  If Germany is having trouble getting they gold that they own, how much trouble would any of us have getting gold we "think" we own if what we have is really "paper gold"?

Liquidity is important!  And I believe that everyone should have liquidity OUTSIDE of the "financial system" (banks, etc.).  This would include gold, cash and Bitcoin (and there have been some fast moving developments just in the past few days).

The below article is a little basic for many of you here at Zero Hedge, but it covers three forms of liquidity that everyone should consider owning:

"Liquid Alt: Gold, CA$H and Bitcoin"

http://goo.gl/SA91C6

Tue, 06/24/2014 - 00:05 | 4888242 Soul Glow
Soul Glow's picture

Fuck, the Fed doesn't even have their gold, let alone Germany's.

Tue, 06/24/2014 - 00:15 | 4888256 Pinto Currency
Pinto Currency's picture

 

If the Boehringer comments are authentic and true then there must be something very, very wrong with the gold market - the Bloomberg piece is that pathetic.

Tue, 06/24/2014 - 00:26 | 4888269 Soul Glow
Soul Glow's picture

Of course the Bloomberg piece is pathetic.  They are the new mafioso.  Not Italiano crime families, not Russian drug runners - the media is the new Kingpin.

People on the Left or Right only respond to Hegelian Dialectic memes; good vs bad, black vs white.  And no one is acting rationally when oil is cheap (it still is) and labor is cheap (third world).  Everyone, except us on ZH, will squeeze the system dry if they can.  Pensions are deserved.  Invest in stocks while they're going higher and praise the system.  Go travel, buy dinner at a resturuant.

America rules!  Praise Jesus.

Tue, 06/24/2014 - 00:29 | 4888285 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

The Angry Pink Unicorn has spoken!  

I would suggest that you all comply.

Fishez!

Tue, 06/24/2014 - 00:32 | 4888287 Pinto Currency
Pinto Currency's picture

 

 

The latest Bloomberg pap - gold is going down because interest rates are staying low for a prolonged period:

http://www.bloomberg.com/news/2014-06-23/gold-euphoria-won-t-last-with-yellen-s-rally-fading-commodities.html

 

 

Tue, 06/24/2014 - 00:39 | 4888300 Soul Glow
Soul Glow's picture

I've been out on the farm the last week so exceuse me when I write....

....gold bitchez!

Tue, 06/24/2014 - 00:43 | 4888305 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

Grazing good this time of the year?

:P  

;-)

|;.!

Tue, 06/24/2014 - 01:31 | 4888371 zhandax
zhandax's picture

Fuck, the Fed doesn't even have our gold, let alone Germany's.

 

FIFY

Tue, 06/24/2014 - 02:34 | 4888417 Supernova Born
Supernova Born's picture

Au-länder raus!

Tue, 06/24/2014 - 03:21 | 4888445 Occident Mortal
Occident Mortal's picture

If the gold was all there and accounted for, the New York Federal Reserve would have publically come out with empirical evidence by now to refute the rumours.

 

There are only 2 possible conclusions;

 

1). The Fed does have the gold yet they are fanning the flames of this conspiracy.

2). The Fed does not have the gold.

 

Which is it?

Tue, 06/24/2014 - 04:23 | 4888481 zhandax
zhandax's picture

They have enough to fill that little room they always show on tee-vee. One doesn't empty the showcase until they are ready to jump on the plane for the last time.

Tue, 06/24/2014 - 05:04 | 4888499 MeMadMax
MeMadMax's picture

hehe, you guys are still screwed...

Tue, 06/24/2014 - 06:56 | 4888576 GetZeeGold
GetZeeGold's picture

 

 

 

You'll find Germany's gold right next to the lost IRS emails.

Tue, 06/24/2014 - 09:21 | 4888855 Burticus
Burticus's picture

No, everyone knows the bars in the TV room are gold-plated tungsten, courtesy of the Rubin gang.

Tue, 06/24/2014 - 09:57 | 4889045 saveandsound
saveandsound's picture

I wrote an email to the author of the bloomberg-article. She is confirming her story, no hoax.

Keep on stacking, I suggest. But be careful of confiscations to come.

Tue, 06/24/2014 - 09:23 | 4888861 LostandFound
LostandFound's picture

3) Possession is nine tenths of the law, so fuck you Germany! what are you going to do about it?  nothing thats right you pussies (viable conclusion?)

Tue, 06/24/2014 - 10:10 | 4889097 JRobby
JRobby's picture

They lent it all out to SWNWEFI at a hansome profit.

Tue, 06/24/2014 - 06:22 | 4888551 lakecity55
lakecity55's picture

100%!!!

Have plenty of stuff to barter as well.

Something is fishy with the latest run-up in PMs. There has been no smackdown yet back to sub-1300.

Tue, 06/24/2014 - 07:02 | 4888586 ilion
ilion's picture

I see something has been fishy in financial markets for at least decades. If you know what i mean!

Tue, 06/24/2014 - 09:54 | 4889032 Panafrican Funk...
Panafrican Funktron Robot's picture

There has been a pretty big run up in the "official" count of depository stocks, it would not surprise me if this coincided with a run up in the dollar price of gold over the next few months.  

Tue, 06/24/2014 - 09:00 | 4888789 Bro of the Sorr...
Bro of the Sorrowful Figure's picture

Germany aka world war three wild card

Mon, 06/23/2014 - 23:44 | 4888202 Four chan
Four chan's picture

i zee nothing!

Tue, 06/24/2014 - 01:20 | 4888359 PenguinMan
PenguinMan's picture

You may see nothing, but I call a spade a spade.

German Gold in Fed Vaults is about as real as that pic of yours....I bet they are plastic.

 

 

Tue, 06/24/2014 - 06:20 | 4888549 The Limerick King
The Limerick King's picture

 

 

Here's what the Germans were told:

Get lost, you cannot have your gold

We needed the cash

For a Keynesian bash

Your barbarous relic was sold

Tue, 06/24/2014 - 10:13 | 4889116 JRobby
JRobby's picture

Hogan! Where is the fucking gold?

Tue, 06/24/2014 - 01:00 | 4888332 RaceToTheBottom
RaceToTheBottom's picture

"This is all very normal procedure for the Fed once sovereign gold has been sold over 100 times."

100 to 1 is hard to recover from, especially in the middle of a run....

 

Tue, 06/24/2014 - 11:06 | 4889332 JRobby
JRobby's picture

+1000 when insanity is "normal procedure"

Tue, 06/24/2014 - 08:29 | 4888708 petolo
petolo's picture

NSA is working on it. It takes a bit longer now that she has that new Chinese cell phone.

Tue, 06/24/2014 - 05:01 | 4888498 Divine
Divine's picture

Gaius, 

 

This is all the evidence you need to realize America is nothing more than an empire hell-bent on conquest. Every nation it “liberates” quickly finds its gold looted and shipped off to Tel Aviv under the guise of eternal safekeeping. The game hasn't changed much since Rome, except the subtleness of it thanks to more sophisticated propaganda.

 

There, I fixed it for you. Remember this is ZH afterall

Tue, 06/24/2014 - 06:39 | 4888563 stacking12321
stacking12321's picture

shipped to ny or london perhaps.

not tel aviv, there's no substantial gold exchange there, as far as i know. if you have info otherwise, please post a source.

Mon, 06/23/2014 - 22:29 | 4888038 Payne
Payne's picture

just sell US treasuries and buy some gold.  sell some dollars too.

Mon, 06/23/2014 - 22:41 | 4888066 DoChenRollingBearing
DoChenRollingBearing's picture

Payne

If I were running Germany, that's exactly what I would have been doing, starting a year ago.

Mon, 06/23/2014 - 23:19 | 4888144 Handful of Dust
Handful of Dust's picture

It's pretty obvious there is no gold to be returned at this point. Who in their right mind is going to believe this crap? It's like me going into a bank and asking for $50k of my money and the teller saying, 'here, you can have $500.00 now and next year we'll give you another $500.00 ... and so on.

WTF ?!

 

NFW !

 

Herr Hans und Fraulein Heidi better stock upon the KY to minimize the pain.

Tue, 06/24/2014 - 00:26 | 4888275 motorollin
motorollin's picture

Fractional reserve safekeeping.

Tue, 06/24/2014 - 02:49 | 4888431 mt paul
mt paul's picture

Fractional reserve safecracking...

Tue, 06/24/2014 - 07:48 | 4888624 mccvilb
mccvilb's picture

How much egzactly are ve talkink about? 

If 1 tonne (Metric) (t) of gold equals 35,273.96 avoirdupois ounces (oz) in gold @ $1,325.60/oz, then 1500 tonnes equals 70,138,742,064 one dollar federal reserve notes. If 1 one dollar Federal Reserve Note equals 16.0254 inches in area, then @ 144 sq in per sq ft, 70,138,742,064 one dollar FRNs equal 7,805,565,257 sq feet of US currency, or @ 41 sq ft per roll of TP, equals 190,379,640 rolls for an EU estimated population of 81,799,600 people, or 2.32 rolls per person.

Schultz sez, "We owe nuttink." Zo, why's everyone gettink zo egzited?

Tue, 06/24/2014 - 04:40 | 4888490 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

The main worry for Germany is that the American government may end up confiscating the nation's gold reserves (which are held in New York) by an act of force majeure.

Tue, 06/24/2014 - 05:51 | 4888516 stacking12321
stacking12321's picture

The slowly dawning realization for Germany is that the American government will end up confiscating the nation's gold reserves (which are held in New York) by an act of force majeure.

FTFY

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