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Head Of German Gold Repatriation Initiative Responds To Bloomberg Story About Repatriation Halt
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.
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I guess the Germans didn't read that part of the storage agreement that the gold could be redeemed in Federal Reserve Notes at the behest of the Fed.
Gunther got pwned, same as their gold! Merkel was up for re-election, so she pretended to go along with the gold repatriation thing. The whole gold repatriation was a just a massive bait-and-switch.
The headline is correct, although it might have misrepresented the opinion of the gold repatriation campaigner, he is basicall a German version of GATA. How long has GATA been ignored in the US? The politicians are happy for the gold to stay in NY, and the BU-BA will do whatever the FED wants. It's all among cheesepopes.
We can't give them their gold - descendants of holohoax survivors still have to make their claims. My family is in the process of converting to Judaism.-I have a contract with Abe foxman and have assigned 75% of my take to ADL so they can catch all the nazis who have evaded justice all these years. Some of that gold belongs to me.
Russia follows the yellow brick road and adds to the collection
The Metals Report notes that the Russian Federation surpassed the U.S. as the world’s number three gold producer in 201
For 2013 China comfortably retained its position as the world’s No. 1 gold producing country with a figure some 65% higher than second placed Australia.
http://www.miningaustralia.com.au/features/the-world-s-top-10-gold-produ...
http://rt.com/business/russia-gold-reserves-june-729/
http://englishrussia.com/2009/11/23/russian-gold-reserve/
http://www.silverdoctors.com/russia-adds-another-600000-oz-of-gold-to-re...
______________________
take not it does not matter how much America produces as it all goes to London vaults. The same may be said of silver in Mexico which sits on a variable ocean of silver deposits. We must incorporate Mexico into the union as they have metal. (See open borders) Their newly entered 65,000 infants taken under control of the good catholic church will be schooled in radical change for America. Rome lives!!!!!!!!!
PRC Au mining is Secret.
Angie Rothschild is working for the pyramid, gold and silver is all that counts.
wow
Having the Fed keep your gold is like having your Uncle Freddy keep your beer stash. You got to be a fucking idiot to think it's actually going to be there when you really need it.
Well, I'm pleased that's been cleared up. We now know Germany will be repatriating its gold as originally planned at the same time as it will leave it in the US Fed for safe-keeping.
First you see it, now you don't.
He's screaming at the top of his lungs
THE GOLD IS GONE.
THE GOLD IS GONE.
THE GOLD IS GONE.
Admit it?
We admit nothing, says every politician on planet earth.
Rome is finished
https://dublinsmickdotcom.wordpress.com/2013/10/24/the-roman-empire-stil...
Hey Mick,
You left out the banjo playing aliens.
For you shovelhead, I will throw in a rapidly evolving banjo playing monkey. Put the tooth under your pillow, the fairy is coming tonight.
Perhaps BuBa can get the Pope to excommunicate the Fed.
Do Germany have to pay a storage fee for the US and A to not hold there gold?
of course, it's a service with real value, strangely enough the fee will equal or be a bit more than the value of the gold.
If you're having to explain, you're losing.
The Bloomberg article is an attempt to explain. It's a rather lame attempt at that.
The German public smell a rat. Hopefully the German public will demand that their country's politicians insist on the repatriation of their gold back to Frankfurt.
Only believe it when it is officially denied.
:) absolutely
but he just needs to be a little patient: at the current pace (5 tons a year), it's only going to take 300 more years for the 1500 tons to be back
Perhaps Germany should just consider themselves "bailed-in". LOL.
Bloomberg's report is an attempt to limit the damage caused by America reneging on the repatriation of Germany's gold.
The German politician party to that damage limitation will cop a lot of flack
You could be right on that. Da man would be Norbert Barthle according to the Bloomberg article:
" "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." "
OR it may be Merkel herself if the NSA have dredged up some old truths about her past life and are using it as leverage...
Fuck it
I'm going long gold Krylon
Tungsten 4 sail!
1800LC55GOLD
Fuck the Fed.
You heard it here first.
https://www.mises.org/books/fed.pdf
and officially, BuBa is independent from political influence...
Haha, weasel words!!
but not the other way around... as polish CB recently proved
Methinks he doth protest too much....
"Its wrong because I said so..."
I see gold has made a little pop this morning. Cant wait for the market to realize how little is actually in the banks...
Lot of denials about one little article saying their repatriation efforts are fugged. Umm we have the gold, you can't see the gold cuz it's a security risk but trust us as bankers we have the gold and can get it at any time so everything is back to normal is basically what they're saying. Umm I call BULLSHIT!
If there is no gold, and we do come closer to WW3 at some point, the US is going to find itself in a very lonely place.
I think the Fed's print room would be pretty crowded(!)
I have a solution.
Load a few containers up with a potentially believable quantity of bars of gold (OK electroplated tungston), 2-300 tons sounds about right, with maximum publicity at Fort Knox. Send them by road in a mega protected convoy to New Orleans where they are loaded onto a (CIA) ship.
From there turn left for the short route to Hamburg which means that it will have to transit the Bermuda Triangle.................
Or turn right for the long route that will take it through Somali pirate territory...................
Problem solved.
Even this fellow Peter Boehringer is posting under the Bloomberg story threads, at least someone posing as him. Check the commets section.
http://www.bloomberg.com/news/2014-06-23/german-gold-stays-in-new-york-i...
This is a very well connected family name, and very well known drug company as well.
Why would FED sell gold when they can print dollars?
To keep the value of their paper fiat in demand.
Given the traditional nature of gold accumulation, and its lack of relevence to modern banking and finance, the desire to undertake the repatriation of an asset that is safely stored in one location, and difficult to move, is puzzling.
These non U.S. countries gold that is being stored here in the U.S. is also being melted down and then resold to suppress demand prices of the physical metal. The FED does not want gold to be view more stable then FIAT paper.
Louise Auchincloss Boyer
I don't understand why they persist calling it Germany's gold.
Any fool would know by now that it's no longer theirs.
Tungsten for the win!
GOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOALLLLLLLLLLLLLLLLL!
The Germans are not a warlike people, but even they have their limits.
Not "FALSE" - just - "Oh my God you can't say that out loud!"
i gets der feelin dat if fritz keeps makin noise like dis den der cia gonna have to unleash der isis kraken on dusseldorphs,dusseldorfs,duseluffs.
gonna have to release isis on frankenfurts
Here's a clue to when the Fed Sold (okay...Permanently Leased) The Gold.
Germany's Gold was last independently audited in 1950.
The US Gold in Fort Knox and the Fed was last independently audited in 1953.
The US would have sold (okay...Permanently Leased) it's own Gold first.
We know the London Gold Pool was opened in 1962 to try and supress the Gold Price.
We know the London Gold Pool was closed in 1968 because they no longer could supress the Gold price.
We know the Fed participated and in part directed that gold pool.
We know that the US Treasury still had gold and was exchanging it for EuroDollars through the Gold Window in 1971 when Nixon closed the Gold Window.
We know that there was some relatively significant amount of gold left in the 1980s because Volker's memos as Fed Chief reveal that the Fed was still selling it to supress the Gold price while exercising high interest rates - both activities intended to save the Dollar.
We know that there was at least SOME gold in the system when Venuzuela demaned their 168 tons back
And we know that there have been several events that added Gold to the Fed's vaults in the last two decades - notably Iraq and Libya.
So... Here's my hypothesis:
The US financed the cold war throughout the 1950's by printing money. De Gaulle actively stated in the 1960s that the US didn't have the Gold that Bretton Woods demanded, and sought to exchange all France's EuroDollars for Gold. Other countries also used the Gold Window. Some of them probably were content to let the gold lie in the Fed's vault.
US Gold in Fed Vaults was probably leased 1964-1968.
US Treasury Gold was probably used up 1964-1971, or they would not have closed the Gold Window.
So, what did Volker - as the Fed - use to support the Dollar in the 1980s? They probably used the Gold stored by foreign nations as reserves with the Fed. So that's likely when Germany's gold was actually sold...er...Leased.
I imagine they would have used British Gold before using Gold belonging to others due to the 'Special Arrangement' the US has with Britain.
I also note that when Gordon Brown sold half the UK's Gold in 1999, Gold was already at the bottom, largely demonetized, and forgotten. But what is interesting is what the sale of this horde did to the Gold price... apparently nothing. Gold started rising from the point of the sale.
Could it be possible that the UK did not sell the Gold 1999-2002? Could it be possible that the UK Gold had been 'Leased' away nearly 20 years before, and that the low price seemed an opportune time to book the reduction in inventory?
I expect that whatever Gold was not expended in manipulation schemes leading up to closing the Gold Window in 1971 was probably expended in saving the Dollar in the 1980s.
The JPM vault in New York was empty at sale. Supposedly there was a lot of Gold there on the books, with no explanation of how it got elsewhere before sale.
For this reason I expect that Gold repatriations over the last 15 years have been possible only because of newly captured Gold from nations who cannot demand it back - like Iraq and Libya. Thus, Venuzuela actually most likely got Libyan and Iraqi Gold.
And all remaining signs are that there is no gold left at all.
Yes yes yes and yes, but don't forget Ukraine's and Ecuador's gold, which kick the can a bit, but then there were those tungsten plated bars in China which supposedly could only have originated from Fort Knox.
How could a fudiciary leave gold it is responsible for unaudited for so long? Conducting annual audits is the minimum requirement, I'd say.
In a word - yes.
It indicates that the "Fix was in" as they say, from the very beginning.
And given the context under which Bretton Woods was intiated, it is no surprise. All the countries of Europe had, over the preceding 30 years, inflated their currencies to such an extent that they could not resume the Classical Gold Standard without very public and dramatic devaluations of their currencies.
Everyone in these countries would have found that they were not only war ravaged, but also destitute.
Keynes led the ideological way in repudiation of the 'barbarous relic'. In the aftermath of war, with the ideological ground work already laid by Keynes, the question became, "How do we abandon Gold such that people will retain confidence in our currencies and the national banks?"
The answer was certainly Bretton Woods.
I believe it is highly probable that Bretton Woods was always intended to end with freely floating fiat currencies. Virtually all the evidence points to the gold actually being sent to market much earlier than generally thought.
Never forget, that people actually believe that wealth comes from a printing press rather than from a factory floor or an inventors mind.
I suppose for a tiny fraction of 1% of people, it does.
Germany cannot get its gold back...for some unknown reason.
We cannot get emails back from the IRS....for an obviously known reason.
Top to bottom, the folks in D.C. make the mafia look like petty thieves.
If you read the articel at "Bloomberg Businessweek" carefully you will find the following quote:
BuBa plans haven't changed at all. The article has a misleading headline, but doesn't claim a policy change. I suppose Liberty Blitzkrieg and Zerohedge know that. Otherwise they are not researching their stories thoroughly.
Btw, I gave Buba a call and they confirmed that repatriation plans and progress haven't changed.