Deutsche Bank's Modest Proposal To Central Banks: "Purchase The Gold Held By Private Households"

Tyler Durden's picture

From the bank that a few days ago informed us that "People Are Talking About Helicopter Money And Debt Cancellation Being The End Game", comes the logical next step. Here it is, without commentary and the key section highlighted:

From Deutsche bank Behavioral Finance: Daily Metals Outlook

Although gold market operators are currently pre-occupied with the prospect of the SNB finding itself obliged by referendum to buy large quantities of bullion, another central bank raised the same possibility yesterday: the ECB. As odd as it sounds, given the contentious internal debate this year over asset purchases in general, ECB board member, Yves Mersch, reminded journalists that the Bank could in theory buy any asset within a QE program. This could mean government debt, equities, ETFs, or even gold. Indeed, within an effective asset purchase program it matters not so much what the asset is, than who the seller is. Given that the eurozone banking system still appears to be a bottleneck in the monetary transmission mechanism, there might be some wisdom in bypassing it. Banks do not hold gold. However, this ‘theoretical’ possibility would quickly run into practical constraints, not least the volume limitations and the problem of having to pick winners and losers.  


However, the idea of gold purchases has merit because of the possible sellers. Much gold is held in private households, especially in countries like Germany. In some cases these are unwanted remnants of crisis-driven investments five years ago. A program that targeted these holdings would liberate dormant liquidity, some of which might even flow into consumption.

In other words, all the world's central banks would need to do to "liberate dormant liquidity" , held, as DB suggests, by private households in various "unwanted" troves of physical gold, and in the process also build up their gold holdings, would be to make said gold unattractive to hold. 

And if that fails, well, FDR already showed the world how to deal with an intransingent public which does not want to part with its gold in Executive Order 6102, something which the Dutch Central Bank which also made the news recently when it secretly repatriated 122 tons of gold from the NY Fed, already did years ago when it advised pension funds to sell their gold: confiscation.

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yrad's picture

Ive read this story before, cant remember where...

blackholes's picture

Who needs to confiscate when they can just convince you to sell it up?


If there was ever a time to get your hands on the physical...

mvsjcl's picture

These fuckers are scary.

PartysOver's picture

Did Germany ever repatriate all their gold from the vaults in NY.  Hmmmmmm.....

Maybe this is the path of least resistance for them to gold.

Philo Beddoe's picture

Gold shall be known as unwanted remnants from this day forward. 

SWRichmond's picture

In some cases these are unwanted remnants of crisis-driven investments five years ago. A program that targeted these holdings would liberate dormant liquidity, some of which might even flow into consumption.

So in other words, all we have to do is drive the price down low enough so that people feel like they're taking losses on their privately-held gold, and then we print up enough "money" to buy that gold, and THEN let the price discovery begin, and then we own valuable gold as capital again!

ParkAveFlasher's picture

Hey HSBC, I'll trade you  a few ounces for you calling off my mortgage.  Whaddaya say?

hedgeless_horseman's picture



A program that targeted these holdings would liberate dormant liquidity...

...and just might be The Final Solution (to collateral shortages).

knukles's picture

When I was a young man living in England, we'd gone onto the continent for a holiday and dad was mixing in a few days business.  I think it was in Switzerland, that he had to meet with some bankers.  He and his people went to a meeting and one of the bank staff took mom and me on a tour of the building.  In one of the sub vaults, there were gold bars stacked.  Behind bars.  Looked ever so quaint.   Until I noticed that many of the bars had the swastika etc., imprints.  It was rather.... disturbing.  Sickeningly, disturbing.

BaBaBouy's picture

SOME Of My GOLD May Be For Sale... $45,000 "USd Paper Fiats Somebody Elses Liabilities Currency".

I Know I Know Its A Risk...

AE911Truth's picture

DB, good idea. I will sell you 10% of my stash for $55,000 per OZ.

Which I will use to buy more silver..

Buzz Fuzzel's picture

Yet another sign the crash of fiat money is drawing near.  J.P. Morgan was right gold is money and nothing else.

tarsubil's picture

Just think of how much it would stimulate the economy if they paid 100K per oz? Sounds like a great idea to me.

MalteseFalcon's picture

How much gold is actually held by households?  Do these bankers bozoes think they will top up their balance sheets with household gold?

Oh, they want to pick the fucking gold out of our teeth?  Well I thought ahead.  My fillings are porcelain!

SilverRhino's picture

Hah, all the weak hands have already sold it off.   The only citizens with gold remaining are going to hold onto it quite nicely.   

The wealthy (jewelry) and the smart, STRONG hands.   

Four chan's picture

only a fucking idiot would trade gold for paper.

nmewn's picture

You can smell the desperation:

"A program that targeted these holdings would liberate dormant liquidity, some of which might even flow into consumption."

Yes, you see because savings are just locked-up dormant liquidity really, not a product of ones saved labor and not to be used at the savers discretion or need but at the end of our centralized fiat ponzi...and of course stupid savers just might throw some of their savings into consumption instead of doubling down.

Fat fucking chance.

espirit's picture

Molon Labe.... also with a little Pb.

nmewn's picture

Indeed and they better pack a months supply or double check their supply route my friend. And note the premise behind the enticement, they will never consider it yours, even after you earn it and save it lawfully.

Moar Keynesian socio-economic bullshit.

They never tire of promoting it and I will never tire of slicing it to pieces ;-)

manofthenorth's picture

They can have my shiny when they pry it from my cold dead fingers !!

northern vigor's picture

I never see those ads anymore where you can send in Grandma's old jewry...they must have picked the low hanging fruit, and now there isn't enough to pay for the ads.


achilles5008's picture

Still, I'd love to see the Cash for Gold sign hanging off the local Chase branch

Bobbyrib's picture

Cash (and your pitiful existence) for gold.

August's picture

In most ways I admire the Swiss but, while they were reasonably prosperous in preceeding centuries, the Swiss only became rich in the 20th century.

It only goes to show what light manufacturing and dairy products can do for hard-working people!

MontgomeryScott's picture

Until the 20th century, the Swiss made cukoo clocks.

Later, they discovered 'Swiss Army Knives'. Those things cost a fortune now, you know.

If cheese (a dairy product) is cured correctly, it looks just like GOLD. Add a delicious TUNGSTEN center, and 'VOILA'!<sarc>

I wonder how much Nazi gold was held in Geneva during the war.

I wonder how much European (other country) gold was shipped to New York during the SAME war (and during the aftermath).

I wonder how much still resides in the CHIMERICA (oops, I mean, the former J.P. Morgan) vault in NYC. I wonder how much was taken out ('transloaded') via the WTC6 conduits, during the 9/11 thingie.

FORCE the purchase, Deutschebank. Isn't THAT what you REALLY mean? A little Merkel 'emergency order' giving the 'citizens' two weeks to trade in the gold at 'farce value' before it becomes 'illegal' to hold? Roosevelt's order in '33 REDUX? $20 an ounce (raised to $35)? How about $1,200 an ounce (raised to $2,100)? SAME RATIO.

THE ('THEY', 'THEM', 'THOSE') stupid mother fuckers always use the same playbook (not an original thought available in their empty and wholly corrupted heads). Infantile pukes...

Big Corked Boots's picture

Your images are powerful.

Here is a distillation of words - so that their power can live on, as well:

"Unwanted remnants of crisis-driven investments that... would liberate dormant liquidity."

If that doesn't put a chill down your spine, nothing will.


Bangalore Equity Trader's picture


Wow. I didn't know that hedgeless_horseman was a jew. Funny what you can learn on The Hedge.

Not there is anything wrong with the anti-Hitler "MESSAGE".


Trogdor's picture

I think the vast majority of people are still bedazzled by the non-stop propaganda surrounding Nazi Germany and what we're told went on - so I try not to fault anyone for it - you do have to dig for your own answers.  It would be nice if people would actually read primary source history - like the transcripts of the Nuremburg trials or even the '88 Ernst Zundel trial - and realize what Kangaroo Courts they were.  A few logical questions would be in order as well, such as "Why is it illegal to even question the Holocaust in so many countries?"  You won't go to jail if you question Pol Pot, Stalin, or Mao's mass exterminations - only the supposed "Holocaust."  Why?  If it was a true historical and documented progrom, wouldn't every question anyone asked have a logical and well documented answer? And wouldn't they (the Tribe) be willing to allow all the documents they claim they have to be open to public scrutiny as opposed to secreted away like the Shroud of Turin?  Or, is it possible that when certain questions are asked, they lay bare the very nature of the myth that has been reinforced for so many years?  A myth that is used by Israel and the Tribe to this day to beat down any serious scrutiny into the evil they bring into the world?  A person could even take the time to read "The Protocols of the Learned Elders of Zion" disregarding the "who" while reading it - and ask themselves "Are these things happening today?" -and if the answer is "yes," then ask - "Who originates these ideas and is in charge of these programs and industries?" (

Bangalore Equity Trader's picture


Funny how many "HOLOGRAM" museums are popping up around the worlds....

I for one am glad the Americans gave all that TARP money to proliferate the "HOLOGRAM" museums. Excellent job "GUYS".

Au Member's picture

Trogdor, I see your point. Something I've been looking into myself only recently. Why is it that the one country that stood up to the banking community is now equated to satan itself. Then I found this documentary and it gave a different historical perspective. Obviously the words 'Anti-Semite' and 'Neo-nazi' still carry some power but I don't regard myself as being either. I don't even know what a semite is to be honest.

Bangalore Equity Trader's picture


I love that "YOUR" Einstein was such a fucking idiot, but so many ignore that. Yes, indeed, particles can travel faster than the speed of light but the brilliant Einstein(jew) said no it cannot happen.

I love that no one understand that time, yes time, is not a fucking constant, time is a variable. When you are young time goes so fucking sloooooow, yes?? When you are older a year passes as if it were a minute.

Yes in "YOUR" formula 60 seconds make up a minute but no one has, as of yet, acknowledged that as "YOU" become harmonized with the matter that makes up the universe, that relationship makes "TIME" speed up. A minute when you are 5 years old is not a minute when you are 70. The universe, expanding quicker and quicker, you are pulled in that direction at that speed.

That's what I luv doooode. And only that. As of Tuesday Nov. 25th, Bangalore, India.

Bangalore Equity Trader's picture


Good, good. I hope I helped you fill in the "PROFILE".

MontgomeryScott's picture

The 'IDIOT' Einstein gave the Indian pricks the constant 'E=MC squared' that allowed them to experiment with nuclear weapons so that they could use them to threaten their neighbor Pakistan with total annialation (because they BOTH have religious differences, of course). He never stated that the 'speed of light' could NOT be exceeded. He DID state that he did not have the mathematical knowledge (by HIMSELF) to solve the problem (and therefore, it was insurmountable to HIM PERSONALLY due to restrictions regarding his conceptualizations.

Every year the Monsoon season comes, and every year, the River Ganges floods, and thousands of your countrymen die. You seem to be intelligent (NOT!), so try to divert your energies into solving this simple problem.

Oh, sorry.

What are YOU anyway? A fucking EINSTEIN? Of COURSE you're not.

You're just a stupid, ignorant little man, trying to compensate for your ignorance by belittling people whose shoes you are not fit to polish.




bullchit's picture

'And if your Universe is expanding, you're just as much a "fucking idiot" as Einstein.
Halton Arp (and many others since) disproved red shift as a velocity indicator decades ago. 

TheAnalOG's picture

Modest proposal to Deustche Bank:

Get fucked and buy Bitcoin!

new game's picture

so the kings and queens "print" and buy gold whilst you and i toil for fiat to buy gold. SOMETHING ABOUT THIS  REALLY PISSES ME OFF. and he talks like qe can be used however they desire- yeh you fuck head and i can use my rope however i choose...

Bro of the Sorrowful Figure's picture

As odd as it sounds, given the contentious internal debate this year over asset purchases in general, ECB board member, Yves Mersch, reminded journalists that the Bank could in theory buy any asset within a QE program.

something should really piss you off. mersch describes QE in its simplest and easiest to understand form, and yet 99% of fucking people still dont fucking get it. they are openly talking about counterfeiting for the purpose of buying assets. can you imagine if i wrote a fucking essay outlining how i could print some money and go start buying things and tried to pawn it off as beneficial for other people. the motherfucking hubris of these people. how does no one fucking notice this!



new game's picture

oh i read what you read! and coming back pisses me off once a fucking again.

i think zhers understand the criminal act of qe. fucking qe, why don't we call it larceny?


MontgomeryScott's picture

"so the kings and queens "print" and buy gold whilst you and i toil for fiat to buy gold. SOMETHING ABOUT THIS  REALLY PISSES ME OFF. and he talks like qe can be used however they desire- "

It isn't 'larceny', or even 'theft', 'new game'.

It's RAPE. That's akin to MURDER, but far worse (because the victims bleed, and forced to beg for more while they die).

The world is FULL of 'kings' and 'queens'; who blind your eyes and steal your DREAMS (and your very LIVES).

SHIT. I feel a 'ROCK WARS' moment rising, 'new game'.

A little BLACK SABBATH with Ronnie James Dio:


Learning brings ideas. Ideas bring reason. Reason brings thoughts of action. Actions can be either positive or negative. Positive actions will either forestall or eradicate negative actions. Making thoughts and ideas into reasonable positive actions is quite difficult. The rationalization of the killing of people who only wish negative actions upon their fellow men for the sake of all humanity is difficult, but necessary (sometimes). A serial rapist or a serial murderer is not to be allowed to continue raping or murdering, for the good of the whole; and the only way to stop such is to eradicate them with extreme prejudice.

If HITLER was still alive, the 'human rights groups' would be lobbying for a 'humane' treatment of him, this day.


outamyeffinway's picture

Here's what they're missing:


It is undesirable to hold gold at a HIGH price because that's when I want to sell it.


It is undesirable to sell it at a low price, therefore I hold it.



divingengineer's picture

If that isn't a quote for the history books, I don't know what is.

jaxville's picture

  Like others here have said....the weak hands have already sold.   So that begs the question of what they are willing to pay to entice the strong hands to sell? 

    I might let a few ounces go for $14,000-$16,000 each.  I would want more for them if the BMW motorcycle I want goes up in price this Spring.  Something tells me that the way we value our labor, goods, property and all our assets is going to change dramatically and soon.

johnQpublic's picture

No onion?


Maybe its in that relish..