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The Real Reason Why The Netherlands Repatriated Its Gold
In what could definitely be called a stunning move, the Netherlands has announced it has repatriated in excess of 120 tonnes of gold from the vaults of the Federal Reserve in New York to the Dutch Central Bank in Amsterdam. Officially a move made to rebalance the locations where the gold is being stored, one cannot ignore the fact that the Netherlands only repatriated a large part of the gold which was stored in New York and it did not touch the gold stored in Canada and London.
Additionally, it’s not just ‘some’ gold being brought back home, no, the total amount is 122.47 tonnes or almost 4 million ounces with a market value of $5B. This will reduce the exposure of the Dutch Central Bank to the US financial system as now just 31% of its gold is being stored in the vault of the Fed, coming down from 51%. We have the impression this won’t be the last repatriation as the Dutch Central Bank is keeping its shipping route secret ‘in case more gold needs to be repatriated’.
So what was the main reason why the Netherlands brought the shiny precious metal back home? The central bank wants you to believe it’s just an ordinary decision, but believe it or not, the only reason for this move was to restore the confidence of the public in the Central Bank. By publishing this statement, the Dutch Central Bank basically admits that holding gold increases the public trust in the central bank as an institution, and that’s an statement which should not and cannot be underestimated as it basically means that only physical gold can be trusted and that the gold should be stored inside the country. ‘He who owns the gold makes the rules’ once again seems to be up-and-coming again.
The best place to store your gold is obviously in your own back yard, and it looks like the Netherlands aren’t agreeing with the Germans which also wanted to repatriate most of its gold which was stored in the vaults of the Federal Reserve. However, after bringing just a fraction of its gold back to Berlin, Germany publicly stated it would not repatriate any more gold as it ‘fully trusts the Federal Reserve as an institution’ and ‘the Americans are taking good care of their gold’. That’s obviously a bogus reason as the Fed obviously wasn’t suddenly taking better care of the gold than a year before. It’s also interesting to notice that the Netherlands and Germany used a different approach. Whilst Germany was boasting about its attempt to repatriate the gold, the Netherlands chose the ‘stealth’ way and repatriated it first before announcing it.
President Knot of the Dutch Central Bank with 'his' gold.
This strategy isn’t surprising as the Dutch always have been quite savvy. Keep in mind it was one of the most powerful nations right after the middle ages when the VOC really ruled the world shipping five times more goods to and from Asia than its main competitor in Great Britain. This savvy business mind is still in place and we wouldn’t be surprised if the Netherlands would be the frontrunner in a worldwide move to repatriate gold.
Keeping the German repatriation story in mind, the Netherlands are basically giving the Federal Reserve the finger. Unlike Germany, it does not trust the Federal Reserve more than its own central bank and it prefers to ‘sit’ on the gold in Amsterdam rather than store it in a foreign nation. This is a huge policy shift which cannot be underestimated, especially not if you look at all pieces of the puzzle.
As you know, China is still buying gold like crazy and was recently joined by Russia which has bought more gold every month since the beginning of this year. People were fast to dismiss this increased interest in gold as those were ‘special’ countries. Well, that argument is no longer valid. Germany wanted to repatriate its gold last year (but came under pressure to drop its plan), the Netherlands have now successfully repatriated almost 4 million ounces of gold, and there’s a Swiss referendum which asks the opinion of its citizens to increase the gold holdings once again. It’s unlikely the Swiss will approve this proposal as the latest polls show 38% in favor and 47% against the proposal with approximately 15% undecided voters.
The main takeaway here is not that 47% of the people are against increasing the gold reserves, but that 38% is strongly in favor of backing the Swiss Franc with Gold and an additional 15% might consider it. We are sure that a better explanation of the proposal would reduce the amount of opponents. Additionally, a lot of nay-sayers are voting against the party which proposed the idea and aren’t necessarily against the renewed gold standard.
This gold repatriation isn’t an isolated case. All signs are pointing in the direction that several central banks are now getting increasingly interested to increase their gold holdings and to have the gold inside the country instead of somewhere else. The Dutch repatriation is the first step, but we expect more pieces of the puzzle to fall into place soon. Very soon.
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"Harry, make up a load of that tungsten fill...that'll shut them up for a while.
Those frikkin Dutch are too cheap to drill a bar anyway."
So the Dutch know what happened to MH17, which gave them enough leverage to demand the gold back, or else a certain American propaganda pretense might have a nasty accident.
That seems fairly clear.
Next question: How much of their gold did the Dutch actually demand back?
Because if they demanded ALL of it, using the threat of exposure, but only got about half back, that means there really isn't any more in the US vaults. Perhaps the situation is now "wait, wait, give us more time, we'll find the rest of your gold somewhere! Just a little more time, pleeeese."
ANOTHER question no one seems to be addressing: Did the Dutch receive the same serial number bars as they originally sent to the US? Were any of them stamped 'Property of Kiev, if found please call Porky'
I think we all know what happened to MH17 as the silence of the "investigation" results were quite deafening.
"Property of Kiev"...hehehe.
$5 billion worth? Man, any more, that ain't shit.
"Because the New King doesn't just want a piece of Russia but wants the whole thing!"?
No one wants to be the last one out of the burning theater. If there's to be a "run" on the Fed gold bank, then it's best to be among the first out. Let's see who wants to be second.
MH17..........that is why the Dutch got their gold. It's their payment for covering up the real story.....
Maybe they are preparing for the fallout from Washington when their Aviation Crash Investigation refuses to go along with the "official" story of who is to blame.
THE DUTCH!
What's the matter? You've never heard of 'Going Dutch'?
I guess in the future it will mean the Dutchman pays, 'cause they've got the gold.
It's a Goldmember reference.
Well, it is Sinterklaas time of the year again where there are plenty of chocolate coins with a layer of shiny gold-like foil is going around. I do hope they checked every bar that is it indeed is gold and not Tungsten (or chocolate)
Anyway, quite a surprising move. Not so much that they wanted it back but that they got it back. Make no mistake: The Netherlands and the US are joined at the hip belonging to the same financial and philosophical mindset and relations go back a long time. First country to recognize the US and the Dutch Republic at that time provided much financial and military support to the American Revolution.
" The Netherlands and the US are joined at the hip belonging to the same financial and philosophical mindset and relations go back a long time "
House of Winsor / House of Saxe-Coburg and Gotha and House of Orange are closely related, also the US "royal" families of the Bushs, Clintons and even Obama are all distant blood relatives of the British royal family.
Also Gore, Kerry, so no matter how you voted it would have been for a member of the Royal Bloodline.
Apparently we are all descended from the same specimen a couple of hundred thousand years ago. There is no royal bloodline.
Yep. Doesn't get much closer to the hip than that.
One other thing - this is the Black Swan we've all been waiting for folks - or at least the harbinger of the Black Swan. The whole system can't last 12 months now. We are entering the endgame - likely mid 2015.
http://www.theeventchronicle.com/finanace/china-russia-accuse-u-s-not-gold/
Although potentially some interesting monkey business, I can't see how a $5B gold shipment can qualify as "the Black Swan" event. I think the harbinger was the final release of AR5 on 02NOV14, specifically when the Secretary General of The World Meteorological Organization, Dr Michell Jarraud said:
"Now we are at the point where some of the excuses which were used in Copenhagen 2009 for not taking action, which was basically some uncertainties on some of the questions, although there was a lot of evidence on many of them, now is no longer valid.
It's no longer tenable. Ignorance can no longer be used as an excuse for no action and this is a fundamental difference compared to 2009. Why? Because in 50 years from now, actually in 30 years from now, governments, but not only governments, decisions makers at all levels can be held accountable for the decisions which are not taken now. Because knowledge is there. WE KNOW. We have no excuse for no action. Thank You."
Why? Because every nation on Earth just got their wake-up call. If they can't come to terms in Paris in December 2015, then there is almost zero prospects for them coming to terms before the completion of the Sixth Assessment Report, if there ever is one, and AR6 would likely not be ready for some 5 years. The evidence presented in AR5 metaphorically speaking is that we are at one minute to midnight and that the clock will strike before a 'meaningful' global agreement is ever reached, if we allow Paris to turn into Copenhagen 2.0.
Jarruad's statement is everyone's clue that the bullshit that went down in Copenhagen is plain for all to see. Powerful forces are aligning to prevent a repeat...
I keep saying all roads lead to Paris because the unfolding events, as many here at Zero Hedge talk about, make it fairly obvious that the world is gearing up for a fight. I see this pot-stirring shit-disturbing WTF? stuff we read about everyday as unconscious reactions to the coming showdown which all of global societies will be attending which is UNFCCC COP 21 in Paris. Keep this in mind as we watch what goes on in Peru this December at COP 20.
I am worried that if we don't come to terms, we will find ourselves at The Great Divide and that destabilization on a global scale puts us into unknown territory...
02NOV14 was THE Black Swan event. Too bad Zero Hedge missed it. NO LULZ
"Because knowledge is there. WE KNOW."
"Hide the decline".
NO LULZ.
"There is no pause"
2014
climategate was the bullshit that was used to distract you from the serious bullshit, kinda like feces on police cars and rapists in the park.
But thanks for the ridiculous reply.
yeah, pay no mind to the completely captured peer review process, any rumors of it being comprimised are...
LOL....right.
you discredit yourself by saying anything whatsoever in support of the carbon dioxide scam.
I love it how AGWers love to paint the government as all anti science, until it comes to things like this, then its all about some supposed scientific integrity.
who made that observation again...
"it is interesting to note that since these methods rely very heavily on statistical manipulation, that there was not a single professional statistician amongst the entire group" concerining any of these farcical AGW "reports" or fantasy models.
I was paying a little mind to peer review (and funding) just the other day FYI 5471117
Funny, I was just trying to locate the clip in James Burke's 1989 documentary 'After The Warming' where he says nobody agreed with the computer models anyway (sound familiar detached.amusement?) when I caught clips that only now ring bells with me. One is where he says a series of nuclear accidents in 2008 resulted in policies for phase out, and the other, a PMA status report which noted "special relationships developing between Europe, Russia, and South America.
I kept at it, because it's important for you so here's what JB said TWENTY FIVE FUCKING YEARS AGO:
"With a colossal number of calculations to do a simulated ten year run could take a supercomputer a hundred hours and even then the results were pretty primitive AND NOT EVERYBODY AGREED WITH THE END RESULTS ANYWAY"
and ironically he continues:
"The aim of all the models was to work out something WE ALREADY KNOW..."
for those who will never watch, 'After The Warming' it is a history lesson in the James Burke style of 'The Day The Universe Changed' and 'Connections' ... but from the year 2050!)
So cling to your computers and your stats detached.amusement and let your copy of AR5 gather dust.
Just wondering, are you a decision maker at some level? LULZ
But the gold evangelists have been telling us that Germany couldn't have its gold because there was no gold left...
There are more existing claims on Gold than there is Gold.
Do you want to know where that Gold is?
Go into Ferguson and you will see it being worn.
The Gold was leased and SOLD on the open Market. The United States EXPORTED that Gold to Italy. The Italians made a lot of 14K Jewelry and then sold it back to the Americans.
If you are honest and check out the numbers...
The USA was the World's LARGEST GOLD EXPORTER in the 1980s and 1990s.
The USA was also the World's LARGEST GOLD IMPORTER in the 1980s and 1990s.
What the USA exported was near to what the USA imported.
It was just imported back into the USA as JEWELRY and Americans bought it up on the cheap.
Target and Wal Mart were selling it for NOTHING.
It was distrbuted TO THE AMERICAN PUBLIC.
Where is the German Gold?
What has not yet been scrapped, melted, and refined is sitting in American Jewelry Boxes. However what has been scrapped out and refined has been sold to CHINA.
That is where the German Gold is at.
There is no way those wooden shelves can support that much gold. No way.
2" steel web frame under the 1-1/2" wood makes it not a problem.
You got to look at it. It ain't magic.
I'm glad I wasn't the only one to recognize that. Each gold bar weighs about 27 pounds. There are approximately 50 per shelf on those wooden shelves in the pic with the Dutch Banker. 1,350 pounds on a single wooden shelf is ludicrous.
So then the shelves aren't made of wood.
Did the Dutch make large purchases of US Treasuries lately?
Maybe in conjunction with Belgium?
Interesting comment RTTB.
Most pundits were suggestng Belgium was buying on behalf of the Chinese, if I recall correctly.
Do you think there is any chance the Dutch were getting squeezed by the Russians and Chineese to clean out the US vaults?
If that were the case, I could see and overnight doubling in the spot value of gold. But, I've been waiting on the explosive event for a decade.
The Dutch are very intelligent. Good move.
I can see the U.S. being far less willing to give up Germany's hostage gold, than the Dutch.
The U.S. created war with Russia requires Germany to toe the line. A big chunk of their gold, held hostage can help keep the German government more in line.
Whether the gold physically exists or not. The easy financial blackmail of it does.
Maybe Putin can arrange a type of swap?
Ship Russian real gold to Germany in equal amount to what is in the hands of the U.S. Germany transferring ownership of what is in the U.S. to Russia. Then Russia can consider what games it might like to play with that gold. Like demanding it back, NOW! Then very publicly asking why it can't be done. Where is it?
Hmm.
Of course the U.S. could / would, put some sort of sanction on it.
Maybe a more involved transaction with Germany has to be calculated. Germany converting the U.S. gold to another security, swapped for Russian gold, but the security in a form more harmful to the U.S., if it tries to put a sanction on it.
I think there is some creative financial solution that gets Germany it's real gold and leaves the U.S. vulnerable.
Even swaps of some sort with countries friendly / controlled by the U.S., might get Germany it's hard gold. Leaving the U.S. with only the imaginary gold value that it currently has. No involvemnet with Russia. Just the evaporation of even the mirage of real gold being there. Transformed into real gold in Germany.
Would YOU trade gold for some worthless paper just to make some point that the emporor has no clothes?
Ain't nobody that stupid.
The real reason?
The Dutch learned the truth about what happened to MH17 and that 193 Dutch Nationals were murdered by a combination of Ukies (Kolomoisky)/ CIA/ Israel-Mossad and they want otu before the whole thing blows up in their face.
That's the real reason, and it's also why the Dutch have toned back their anti-Russian rhetoric in recent months.
The Dutch want to do a credible report on the downing of MH17 to honour their citizens - they will not participate in a "snowjob" cover-up for the sake of some Ukie fascists.
If the US/Israel want to wash their hands of the Ukies, good luck to them, they might be able to get away with it. But the Dutch aren't going to be the patsies who participate in a coverup of Kolomoisky. Why should they dishonour the memory of 193 murdered Dutch citiznes?
In other words, the Dutch are saying, "You Zionist American and Israeli scumbags are responsible for that plane crash. We don't have enough muster to really crush you, and we do not benefit in any way by making this public, but this withdrawal will help ensure that you now know we know exactly what happened."
Good for them.
Another way of saying it is, "Fuck You Obama, Fuck You Netanyahu. We are no longer putting all our eggs in one basket - and we just took $5 billion worth of our eggs out of your basket. Good luck dealing with that shit, Goldman, Federal Reserve, etc."
I guess it only takes an international scandal to get some leverage on the true new Nazis. Who would have thought that the Zionists would be equated with Nazism?
Unfortunate for the Germans, Spanish, French, etc. that they still put up with our shit. They are paying the price for it now, and I could see them calling the deal off pretty soon.
What do you mean? Obomba told us that Putin shot the plane down, they knew an hour (before) after it happened. Then Obomba immediately went to the UN and said Russia was as bad as Ebola.
The real reason ? Everyone is finally catching on. The jig is up. He has the most gold gets the best SDR's. The rest are third world countries.
Idiots say that gold isn't really money, it's just a commodity like any other. I see that position taken by a number of paid shills and trolls on various websites. Naturally, if you're a central bank finding itself way short of real assets, your only defense is to say the assets you're missing aren't important anyway.
@xizang777
Gold is money, (so is silver).
But money is also a commodity, when money is used in a transaction people are just exchangimg one commodity for another. (In the case of gold a commondity that is fungible, accepted (5000 years +), portable, and storable).
Gold is the commodity best suited as a proxy for peoples work and crativity. Has been for over 5000 years and will likely be for 5000 more.
Some people really want to believe it though, they're so far behind the eight ball.
"the Dutch Central Bank is keeping its shipping route secret-"
I have it on good authority that the gold was smuggled in Kim Kardashian's bottom.
Check her passport, the itenerary is all there. I heard it took two trips.
Wasn't the character in one of the Austin Powers movies a Dutchman named "Goldmember"?
Coincidence?
It's just like the Simpson's predicting 9/11 or Mandela dying twice or something.
Contrary to what its title suggests, this article is a lot of hot air. It contains nothing what's not been published for days, already. "... the only reason for this move was to restore the confidence of the public in the Central Bank." Come on! For the greater part, the Dutch couldn't care less where "their" gold is stashed. There happen to be two political parties in the Dutch Parliament rooting for gold repatriation, but they're a minority outside the government.
If the Dutch CB is offering an explanation this lame, chances are it's only a smokescreen. Yes, I'm curious to know the genuine reason for their surprising coup, and I'm still wondering how they led the NY Fed into delivery of 122.5 tons of the stuff from reportedly EMPTY vaults, where the mighty Germans failed.
Obama likes little Dutch boys?
Did they have to buy our treasuries to get their gold?
http://www.zerohedge.com/news/2014-04-15/shocking-buying-spree-americas-mysterious-third-largest-treasury-holder-ramps-higher
If the Dutch were so savvy, they wouldn't have been selling their gold at bargain basement prices around the turn of the century, like all the other dumb-ass nations doing the same thing.
-A Dutchman
UPDATE 14:36: Minister of Finance Jeroen Dijsselbloem confirms to RTLZ that the government has indeed prepared for a return to the guilder at the height of the euro crisis. According to Dijsselbloem it was not possible to speak openly about this at the time, because it could cause panic on the financial markets. "So you prepare yourself, but you do not make it known. Very wise. "
Great! With Euro Crisis II just around the corner, they're fully prepared for the reintroduction of Dutch Guilders. The Dutch people are safe from a Euro collapse.
Germany - are you paying attention? The Ameican people don't have an ounce of your gold - you're storing it with our banking mafia. They are not part of the U.S. - we'll be happy to extradite them for trial, imprisionment (and execution if you like) on German soil if they can't come up with your gold.
It would be even better if the new guilder money would be made out of gold and silver.
Why did the Netherlands and Venezuela get their gold back in a few days but Germany has got nothing after years of trying?