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The Real Reason Why Germany Halted Its Gold Repatriation From The NY Fed
Following the stunning announcement in January 2013 that the Bundesbank would repatriate 674 tons of gold from the NY Fed and the French Central Bank, a year later the Bundesbank followed up with a just as stunning revelation that of the 84 tons the bank was supposed to bring back home, it had managed to obtain just a paltry 37 tons, with only 5 tons originating from the NY Fed.
The reason given for this disappointing amount was as follows:
The Bundesbank explained [the low amount of US gold] by saying that the transports from Paris are simpler and therefore were able to start quickly." Additionally, the Bundesbank had the "support" of the BIS "which has organized more gold shifts already for other central banks and has appropriate experience - only after months of preparation and safety could transports start with truck and plane." That would be the same BIS that in 2011 lent out a record 632 tons of gold...
Going back to the main explanation, we wonder: how exactly is a gold transport "simpler" because it originates in Paris and not in New York? Or does the NY Fed gold travel by car along the bottom of the Atlantic, and is French gold transported by a Vespa scooter out of the country?
Supposedly, there was another reason: "The bullion stored in Paris already has the elongated shape with beveled edges of the "London Good Delivery" standard. The bars in the basement of the Fed on the other hand have a previously common form. They will need to be remelted [to LGD standard]. And the capacity of smelters are just limited."
Or, simply said, generic pretexts for a failure to follow through with the Bundesbank's original intention of redomiciling physical gold, especially after Zero Hedge posted in November 2012 proof of collusion between the 1968 Bank of England and the Fed seeking to defraud Deutsche Bank: 'Bank Of England To The Fed: "No Indication Should, Of Course, Be Given To The Bundesbank..."
The charade ended with a thud in June of this year, when instead of continuing the farce, Germany simply gave up, providing an even more laughable reason why it can no longer even pretend to collect its physical gold located at New York's 9 Liberty Street.
Germany has decided its gold is safe in American hands. “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.”
And that was it: not a single word more from Germany on the topic of its failed gold repatriation initiative. Until this week, when Deutsche Bank - the bank which is Germany's equivalent to America' Goldman Sachs in terms of policy decision-making - once again revealed just what the true reason behind the failure of Germany's attempt to bring its gold back. From Robin Winkler's special report:
... the gold community paid great attention to the decision of the German Bundesbank to “bring German gold home”. At the beginning of 2013, the Bundesbank announced it would repatriate 300 tonnes of gold stored in the US by 2020. It is well behind schedule, citing logistical difficulties. Yet diplomatic difficulties are more likely to be the chief cause of the delay, especially seeing as the Bundesbank has proven its capacity to organise large-scale gold transports. In the early 2000s, the Bundesbank incrementally repatriated 930 tonnes of German gold held by the Bank of England.
Because if anyone knows what really happened behind the scenes in Germany, and inside closed doors at the Bundesbank, it is Deutsche Bank.
And there you have it: it wasn't transportation, or "good delivery standards" concerns, or anything remotely related to Germany "decididng its gold is safe in American hands", but just the opposite: Germany was pressured to keep its gold in the US after a "diplomatic" line of communication was opened, most likely the result of the Fed making it all too clear clear to the Bundesbank not only who runs the show, but what the assured failure to repatriate Germany's gold would mean for "price stability."
Which has, for now at least, ended Germany's gold repatriation demands.
Now the question is, just how will the US pressure the Swiss "diplomatically" to make sure its own gold repatriation referendum does not succeed. Because if Germany failed miserably to obtain 674 tons of gold in 2013, it is assured that Switzerland will find absolutely nothing in its quest to obtain more than double, or 1,500 tons, of gold as a successful November 30 referendum outcome would require.
Then again, considering it was Obama's action that destroyed the Swiss banking sector after the US crushed the centuries-long tradition of "Swiss banking anonymity", this could be just the right action with which "neutral" Switzerland could finally take its revenge on the regime that cost it what was for centuries the primary source of capital inflow into the small and so very prosperous (until then) central-European nation.
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Germany should call their bluff while the US is weak. Horrible call by them.
Angela: Hello?
Xi: Herro, Agera, Xi here. I am in giant PRC vault. I have gorld bars with "German Central Bank" on them. Are you missing any Gorld?
Angela: they must be fake. Check them for tungsten.
Xi: No tngsten here, Angera. Onry Pure Gorld!! Hahha!
(Click)
@Tyler
I really would appreciate if you sometimes could explain why Germany could not sell some of its US bonds, buy gold in the "open" market and have it delivered to their vaults, thus avoiding the hassle about repatriating its gold from US, which might or might not exist there.
Obviously, China, Middle-East and Russia are buying with no difficulties as reported by you often, see eg. http://www.zerohedge.com/news/2014-11-13/putin-prepares-economic-war-buy...
The issue is not just gold, but theft. Selling off US bonds to buy gold would be an act of admission of the theft, and an act of rebellion against US rule. The considerations are not just economic but political.
So we come back to the question of Germany's internal politics. The Gold issue is one among many that are pushing the German public - or "publics" - toward rebellion against the Pax Amaricana. That rebellion will come, but when and how?
Still, yours is good advice to those who dream of a free and sovereign Germany - . If they hesitate to start rebuilding their actual physical gold reserves fast, now, while it's cheap, they won't be able to do it later when their paper reserves become worthless. So what they do now will shape their place in tomorrow's world, perhaps profoundly.
Assuming of course that there IS a "tomorrow's world" - and a Germany in it. Something else they need to take a stand on; Germany's role in Ukraine is helping put that in doubt.
Sure it would be a good idea for the Germans to have their gold but the real future of Germany is with her unique ability to produce quality products efficiently unlike so many other countries including China.
BuBa says they are still repatriating their gold from the US as planned.
welostyourgold
The real reason? Here it is:
https://socioecohistory.files.wordpress.com/2012/10/empty_vault.png
Lets not forget that Germany is still occupied by the US military and very much under thier yoke, hence they (Germany) has no say in anything much less demand their gold repatriated.
keine Eier...!That is the painful truth
The Germans will receive as much gold back as will the US public.
If you don't hold it, you don't own it.
If this article doesn't open your eyes about how deep ZeroHedge (and the average ZH commenter) has fallen in recent years, then nothing will. There's not a word of truth in it! The rumour that Germany had halted its gold repatriation has been thoroughly debunked long ago (see Koos Jansen, among others), and the bending over sideways ZH does here to try to make unrelated comments support the original falsehood is just depressing to behold.
We already have the mainstream media, ZH! We don't need yet another pointless "news" outlet spinning its own (or someone else's) agenda with no regard for facts or reasoning. We did need the independent and refreshingly sceptical site you once were, though.
Why is it untrue? What cannot the Fed simply give the Germans their gold? To put the logistics in perspective it would take fewer than 30 trucks to carry 600 tons of gold.
Well the problem is,
You cannot give back what you no longer have.
The Fed does not even have any of our own gold and you can be sure they spent all they got their mitts on.
Germany has to learn to do what they're told. Ze ponzi vill go on!
Did u ever ask urself how many Germans know, that their gov wants to repatriate their proper gold holdings from the US? To wit, there are 80 mio krauts, fyi,. Have a guess!
Dearest Angela:
ALL YOUR GOLD IS BELONG TO ME!!!
Regards,
Janet.
Wow 1,500 tons! That's a lot of nuts!
1oz = 33gr
1kg = 1000gr
1kg = 30oz
1t = 1000kg
1t = 30.000oz
1.500t = 45.000.000oz
from 1000$/oz : 45.000.000.000$ ( 45 billion )
to even in dream 5000$/oz = 225.000.000.000$.... ( 225 billion )
you think it balance any thing for the total amount of fraund in finance....
hmmm nop.
period.
Hedgers have given the gold ownership problem the solution over and over again.
We put 674 tons on a C5 Galaxy got over the deepest section of the Atlantic and ....wait for it....wait........ It's gone.
So sorry
The US leverage over the Swiss will be the same as to install FACTA which is 'do as we say else lose the US banking licence for Credit Suisse and UBS' failing that kiss goodbye to SWIFT.
The Swiss are smart people, unfortunately they have been sold out like the rest of us.
Interesting proposal. A Gedankenexperiment for you...
So, given the current global geo-political situation, what do you think would happen if the Swiss called the US's threat, and the US Gov revoked Swiss bank licenses to do business in/with the US? Would that hurt the Swiss? Or would it hurt the US more? Would we see a global rush for the door as global banks and corps fled the US jackboot and went to the Swiss? Or would the Swiss be alone on their mountains?
Paypal blocks the account of a Swiss sympathizer of the referendum because he is not recorded as a charitable institution.
See https://goldswitzerland.com/19279-2/
Quote
On Wednesday, October 29, we have received an unexpected simple template notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG; that they do not take these decisions lightly and that their decision is final which includes any future regular business. Their formal reasons:
we are not a registered charity in Switzerland
our product is a risk
. . .
Under Swiss law we are totally in compliance with our effort to raise funds in support of the goldinitiative. In fact under Swiss law we are not required to be a registered charity to raise funds for any kind of political challenge and PayPal is aware of this.
. . .
UnQuote
The pressure is mounting...
BTW : I'm not in any type of relationship with the above company. Didn't know they existed till today. Just in case :-)
Sounds like Operation Choke Point in action
Operation CockRing
"I vant to play a game
vit John McClane..."
*bells jingle eeerily as a Baby Gap explodes into indifferent terror*
This winter, it's 1995 all goddamned over again!
Acording to SNB Swiss gold reserves abroad are no longer in the US. (Its their gold abroad what they have been selling ). Now they claim to have 30% of their reserves in England and Canada, but not in the US. So repatriation would not come from the US. A different thing would be the effect of their gold purchases.
The Bank of Nova Scotia is doing its share
Leasing Swiss gold for the benefit of humanity.
Why do countries give other countries their gold to "hold" in the first place? If you are stupid enough to do that....maybe you should lose it.
Often wondered the same thing. It surely cannot be the physical security aspect?
Dont remember the Berlin wall huh?
“Germany was pressured to keep its gold in the US after a “diplomatic” line of communication was opened, most likely the result of the Fed making it all to clear to the Bundesbank not only who runs the show…”
Well, sure; and it’s probably a sham excuse. I suggest the real reason is indicated in asset-statement changes made by central banks of the world and the US Treasury around the year 2000. Prior to that time, the first item on each of their asset statements was “gold”; thereafter, it was changed to “gold and gold receivables (or “swaps”)”. This was a reaction to the so-called gold carry-trade, where central banks lent physical gold to bullion private banks, who immediately sold the gold to the market and invested the proceeds in interest-earning assets, primarily US Treasuries. Estimates of the amount of gold so lent ranged from 30% to 80% of central bank gold, all before 2001, at prices averaging $400 to $450/oz.
This, of course, indicates that none of those entities possesses physical gold equal to the total “gold and gold receivables” they report.
If this gold is not possessed by such central banks and US Treasury, should we expect them to publically announce such? Of course not. How, for instance, can bullion banks admit they sold gold at $400, with gold now fluctuating around $1200? It amounts to bullion banks squandering world reserves on a monumental scale. No, they have to invent a spurious reason for not delivering such gold.
More, the difference between $400 and $1200 is tiny when all monetary instruments that are collateralized by gold are considered. Corporate “cash equivalents”, on a world-wide basis, are so collateralized; so are US Treasuries ($16 trillion); so are Mortgage Backed Securities (MBS) held by the Federal Reserve; so are bank reserves held by American banks ($1.6 trillion, and counting); so are all outstanding Federal Reserve notes ($1.2 trillion) (the scrip you and I hold in our pockets); among other items.
Now, the real question: “What price is required for gold to make Fort Knox “gold and gold receivables” equal to all those monetary instruments listed in the previous paragraph… $7000… $70,000… infinity?”
It all leads to one conclusion: we stand on the cusp of utter destruction of every banking system on the planet… the inauguration of the next Dark Age… one that will last far more than a thousand years. You see, the first Dark Age did not have to contend with central banking; during that slaughter, money lenders could only ruin existing generations; with central banking, following generations by the dozens have been financially cannibalized.
<<It all leads to one conclusion: we stand on the cusp of utter destruction of every banking system on the planet…>>
Understood, but there is a little new detail to take into consideration : the introduction of the bail-in principle, whose emergence is not coincidental. And nothing tells us that the FED and its sisters abroad will be kept outside of the circle of institutions allowed to "bail-in" their clients' assets.
So, banks and financial institutions can now include the clients' deposits into their own assets. This will probably include physical gold. If or when needed, this simple principle would allow the bank to survive, and would settle the problem of the non-existing gold, once and for all.
<<the inauguration of the next Dark Age>>
…And there was no RFID to track people and their business in the previous Dark Ages, nor any GPS to determine their location : those may become heavily used in the future years.
…Which means that gold confiscation may become relatively easy since your every moves will not only tracked but stored for ever. Heard of metadata ?
Agreed, on each of your items. Now, HOW do we defend ourselves while those complicit eat each other? As I’ve repeated many times, ‘While Americans have the power to make these bankers, and their useful idiots, accountable for what they have done, and are doing, they (Americans) REFUSE to use that power.’ Please see, Failure of Power.
So let's quickly summarize
1. Nobody's getting their gold back from the US
2. The US is spying wholesale on everyone and everthing globally
3. US troops are spread thin around the globe
4. There is a prison system rat line with fascocommunists running wild in every alphabet agency all the way down to local law enforcement in the country. They are all lawless criminal gangs murdering and terrorizing everyone and everything in sight
5. The US economy and stock market has never been better. At least on the Enron-like books, charts and graphs
6. The NGO Fed in collusion with the US Treasury and CONgress have diluted the value of the country's fiat currency to new at horrific heights
7. The country is awash with poisons & Faux food (fracking, Pharma, GMO's, Pink Slime, Arsenic laced Chicken, Chemtrails, etc)
8. The daily encroachment and removal of God given rights that were in place only under the guise of a few pieces of parchment called the Constituion and Bill of Rights. And don't forget the 3 Branches of Government all willingly contributing to this removal as well
9. The US has outsourced their critical military infrastructure to their enemies through the complicit traitors in the government. These enemies are now capable of disabling these weapons systems at will
http://www.voltairenet.org/article185860.html
10. The children across the country are being terrorized and brainwashed so fast and furiously with hoaxes and psyops daily that they will all be on drugs and disarmed within 1 generation
http://patch.com/connecticut/newtown/breaking-st-rose-school-receives-th...
http://www.washingtonpost.com/news/national/wp/2014/11/14/i-thought-he-w...
What does the future hold for USA, Inc. and its human resources?
It holds an Enron-like future!
you forgot:
IT'S ALL THAT DAMN PUPPET'S FAULT!!!
I thought gold was a relic and just a tradition? Why is it so important that the NY Fed keep Germany's gold? Could it be that it is gone via the hypothecation route?
FED must be broke and trapped out of buying gold bitchez.
Gold Blast America
Because there isn't any Gold Theirs or the US' gold is long gone.
-- that is what all of this surreal seemingly insane shit going on around the world is all about and soon that chicken is coming home to roost.
tic-toc... tic-toc... The are drawing closer to the collapse very soon you won't be able to obtain physical metals for LVE or money.
Confidential Memo:
Clearly, Germany has not paid its gold storage fees. Therefore we have no alternative other than seizing stored assets for non payment. Should there be a surplus after stored goods are sold and said fees are paid any surplus will be delivered to Germany...in paper (good as gold or superior).
Janet
Oy vei!
Looks like the German gold was spent on WWII reparations to you-know-who by USA representatives of you-know-who.
I have a question. Let me preface this by saying I know the US gold paper markets may well be backed by zero gold. I also know that it is likely that Fort Knox is empty.
With that said, I wonder this: "Why do we believe Russia and China when they say they are buying the stuff hand over fist?" Why believe their claims over anyone elses?
China has immitated many of the scams the US has engaged in. They may be worse, I will get back to you on that one. Russia's Putin is a little too rich for me to be comfortable that all he is doing is on the level.
Again, I know we are fucktards. But why do we believe their claims?
Deleted dupe entry.
Because gold was routed to Switzerland (among other countries I guess) to be melted into standard 1 kg ingots, and then shipped to China or related territory. The main Swiss refineries even worked 24/7 during a certain period of time to face the workload. That may be one of the evidences.
The Jew Haters gather around the ZH anti semitic honey pot like bees. Sometimes I feel like I am reading a Berlin newspaper 1930.
the ziocon jews started world war 1, world war 2, what's there to hate? they destroyed the wtc with nuclear devices, and have used nuclear weapons in the middle east over the past 10-15 years. what's there to hate? and they tried valiantly to sink the uss liberty because the spy ship intercepted the radio transmissions from the idf butchering egyptians in the sinai. what's there to hate? and have i started on the rothschild communist revolution in russia, 1917? or the soros butchery in ukraine, funded in part by dual citizen victoria nuland's state department? or the genocide in the gaza? or the holocaust hoax? telling the truth is not very jewish. oh and what about the 700,000 - 1 millions arabs who were butchered by the zionists in the 1940s-50s?
of course the jews did all that
and the WWF is real too!
this is a good outlet for bad flakey info
thanks for your stupidity
zion did all that
amen too
you are distracted
by the word,
jew.
not a jew
just not stupid enough to believe half the crap here
seems to me a good part of ZH=KGB+KKK
Which half of the crap are you smart enough to believe?
went to London last year and stayed at the K&K George Hotel.....they said" welcome to the K&K"...I said "hey, I thought it was the KKK" when I booked!
i predicted that the rothschild's sock puppet fed would release no gold. perhaps i was off by 5 tons, but i suspect that germany didn't even see that much. yes, the fed threatened murder and financial reprisal in the event that its colony insisted upon having its gold back. the swiss are smoking swiss cheese if they expect their referendum to amount to more than an exercise in futility. more murders and economic reprisals from the rothschild satanists will follow.
There's some pretty funny and smart ideas on this thread.
We all know Germany wants it's finite, shiney, "solar system building" element back.
All I see is (3) monkeys. Hear, Speak, See ~ nO EVIL selling me some "horse shit"... Bitchez
Does ISIS expect to have any problems with the Fed in repatriating its gold?..
they have been known to get mean when they do not get what they want.
Germany well and truly the fuck doll of the US.
Germany has no ability to make its own choices.... you wont have your gold, ever. You will put sanctions and sanctions on Russia. You will suck my dick.
Merkle another sell out.
Seems to me a good part of MSM is.... TPTB and nothing else. The MSM is old USSR Pravada on steroids.
Laugh that people whine that ZH providing opposing, often diametrically opposite views, as well as providing data that the MSM regularly fails to report.
MSM pretends to be reporting truth, ZH reports that the MSM are a bunch of lying sycophants of the TPTB. Which none can deny.
MSM reports Putin evil, ZH reports US playing its usual geopolitical games and making themselves look like tools. Reports Putin making Obama look like a whiny schoolboy.
ZH posters report...we are not fucking US sheeple...we can make up our own minds on what is and isn't.....now that we have a range of stuff to look at.
Trust no one, especially the ones you are used to trusting, think you can trust - its all bullshit with various perspectives.
Rickards says that Germany only asked for the gold because of popular pressure but the bankers and politicos didn't really want the gold back. So, they let it die on the vine after pacifiying popular sentiment by deciding to get the gold back. German sentiment has subsided and it's now forgotten.
Please do not worry. https://www.youtube.com/watch?v=TxFOrB9_rb0
Last week Karen Hudes, Atty with World Bank
Karen Hudes says, with full confidence, that humanity's gold is being released. This woman is a Whistle Blower who had worked at World Bank (and her husband does as well). I have seen her on Greg Hunter but not of late. She does make the circuit.
Do you here her tell us that if we do not move on this soon, we will lose out on our gold and it will be too late. As a consequence, we will be thrust into a period not unlilke the dark ages.
She writes e-mails to leaders and diplomats.
With 40,000 well armed US troops in Germany, I think it's fair to say Germany is still an occupied territory (i.e. they'll do as their damn well told!).
Considering how much gold the chinks er Chinese have been buying they probably have dibs on that gold.
Looks like a simple case of "If you don't hold it, you don't own it."
There are three sides to every story:
1- Yours
2- Theirs
3- And the truth
ZH brings articles that you would find absolutely no where else- that is why we are here. There will always be extremists on both sides. However with today's media the majority is propoganda for the left. Because the wall came down in Berlin in '89 doesn't mean communism stopped. Actually it infiltatrated every aspect of the greatest country ever conceived and ZH is one of the last bastions that providss an outlet for great debate.
The BuBa's various explanations for the delay never made any sense, and the concluding "we have decided we can trust the Americans after all" was almost lough-out-loud funny. No-one believed a single word of these communications, including people who normally take conspiracy theory type stories with more than just a pinch of salt.
As an aside, this German subservience is also on display in the country's dealings with Russia over Ukraine. Many people have been looking around to find Merkel, in the expectation that she might perhaps emerge from Obama's colon at some point - to little avail thus far. Clearly, many in Germany's government - including vice chancellor Garbiel and foreign minister Steinmayer - would prefer to engage with Vladimir Vladimirovich in a more friendly manner. Every time Steinmayer announces new sanctions, he looks as if he has a painful abscess somewhere. Naturally, they are all aware what a bunch of gangsters is in charge in Kiev. Poroshenko actually may be in a situation somewhat comparable to Steinmayer's - he also appears to be inclined to remain on good terms with Vlad, but is often forced by domestic political contingencies and constant US pressure to do and say things against his better judgment. The same cannot be said of that rabid weasel/fascist automaton "Yats", i.e., "our" boy. That guy has psychopath written all over him, in glaring neon letters. Not surprisingly, under his supervision, Ukraine's gold has reportedly disappeared into the "safe hands of the Americans" overnight, with nary a logistical hicc-up.
If like your gold, you can keep it ... --obama
.... ooops sorry, we will keep it for you.
Read this to find out why Germany's helicopter buzzed the US Consulate in Frankfurt:
http://deutsche-wirtschafts-nachrichten.de/2013/09/17/whistleblowerin-geheime-machenschaften-der-finanz-eliten-zerstoeren-die-welt/ translation at https://s3.amazonaws.com/khudes/germanyarticle2.docx
I told the US attache in Tokyo that I knew how to prevent Germany from leaving NATO, and he sent me this email:
From: WalkerJW@state.gov
To: O'learyJD@state.gov
CC: karenhudes; WeltonDA2@state.gov; WebsterJM@state.gov
Subject: Phone Conversation
Date: Wed, 16 Jul 2014 06:55:06 +0000
Jim,
I just spoke with Ms Karen Hudes, Acting General Counsel of the World Bank. She would like to establish contact with you concerning an initiative she’s working with the US DOD in several countries throughout the world.
She is currently in Japan participating in Joint Committee activities. Her phone number is 080-6843-7509.
Thank you,
Jon
JON W. WALKER, Colonel
USAF Air Attaché, USDAO TOKYO
DSN (315) 224-5382
Comm 03-3224-5382
Cell 090-9003-0195
This email is UNCLASSIFIED.
I sent a draft of this press release to Germany the day before it was issued. Note the date of these leaked memoranda.
http://presswire.com/pr/hudes/hudes_250714.html
http://www.thetotalcollapse.com/shocking-german-move-to-join-brics-spell...