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Here Comes France: Right-Wing Leader Marine Le Pen Demands Central Bank Repatriate French Gold

Tyler Durden's picture




 

First Germany, then the Netherlands, perhaps Switzerland this weekend, and now the French right-wing Front National, which shockingly came first in May's European parliament elections, and whose leader Marine Le Pen is currently polling in first place in a hypothetical presidential election (in both a first and run off round), ahead of president Hollande, has sent a letter to the governor of the French Central Bank, the Banque de France, demanding that France join the list of nations which have repatriated, or at least tried to, their gold.

From her letter, here is the full list of French demands (google translated):

  • Urgent repatriation on French soil of all of our gold reserves located abroad.
  • An immediate discontinuation of any gold sales program.
  • Conversely, a gradual reallocation of a significant portion of foreign exchange reserves in the balance sheet of the Bank of France by buying gold at each significant decrease in the price of an ounce (recommendation 20%) .
  • A suspension of any financial commitment or loan contract would wager that our gold reserves.
  • At the patrimonial and financial balance of the 2004 gold sales transactions ordered by N. Sarkozy.

Her full letter below (link)

Mr. Christian Noyer

Governor of the Banque de France
31 rue Croix des Petits-Champs
75049 PARIS Cedex 01

Nanterre, November 24, 2014

Open letter to Mr Christian Noyer on the gold reserves of France

Dear Governor

On behalf of the French and in my capacity as the main opposition leader, I am writing to you because it is my duty to present a petition on the gold reserves of France, under the best interests of our nation.

Even before the outbreak of the 2008 crisis, the National Front had anticipated and informed the political institutions of the future worsening of the macro-economic and geopolitical context. As part of the business model increasingly libertarian adopted by France under pressure from Brussels, no economic fundamentals may not sustained improvement. All French can see that the austerity policies demanded by the EU and the ECB and implemented by the government are a proven failure and serious for our country.

The monetary institution you lead a historic mission to be the custodian of national central bank monetary reserves including gold reserves. According to our strategic vision and sovereign, they are neither the state nor the Bank of France but the French people and in addition serve as the ultimate guarantee of public debt and our currency.

In monetary Cold War played between the Western countries and the BRICS countries, gold gradually takes an important role. According to the World Gold Council, China's official gold reserves, India and Russia have increased significantly between 2007 and 2013.
For these reasons and because of the rapid growth of global systemic risk, it is of utmost importance to the future solvency of our nation to engage, by mid-2015, a detailed audit procedure, the results will be the subject of a report. This report must obtain validation of French macro-prudential authorities, ACPR, and will be made public in the year.

This comprehensive audit should contain:

  • A complete inventory of physical gold amounts to 2435 tons currently displayed and their quality (serial number, purity, bars 'Good Delivery' ...), conducted by an independent French body (to be defined). This inventory, under supervision of a bailiff, must indicate the country in which the gold reserves are stored in France or abroad.
  • A census of all formal financial employment agreement or secret vis-à-vis private banks and corporations, or bilateral loan between France and national and international institutions, having pawned the gold of France to ensure rescue of the euro. In this case, the comprehensive audit should contain the conditions of agreement or loans.

Furthermore:

Whereas, on 30 November, will take place in Switzerland a vote on a request from popular initiative referendum "Save gold for Switzerland" of the UDC party (Democratic Union of the Centre) which provides for the repatriation of their reserves of gold on their soil.

Whereas at the request of some national central banks informed, this country phenomenon for the "return of national gold reserves" and democratic control exists since 2013 in Germany (Bundesbank), Poland etc.

Whereas the Dutch Central Bank recently said it had repatriated 122.5 tons of gold.

Whereas, on 19 May 2014 the Bank of France along with other banks of the Eurosystem, announced it has signed the Washington Agreement gold sales CBGA 4 (Dirty Gold Under the Central Bank Gold Agreements) which provides no transfer of quotas on this five-year period (2014-2019), in contrast to the three previous agreements.

Whereas in fact, the Bank of France already independent, conducted as part of the agreement CBGA 2 on gold sales agreed in 2004 by Nicolas Sarkozy, then Minister of Economy and Finance of the Raffarin government .

The declared official target of more actively manage the foreign exchange reserves of the state to generate € 100 million in additional tax revenue in 2005. N. Sarkozy also said that gold sales would be used "either to finance investments that prepare the future, either to reduce the debt, but in no case to fund operating expenses. "

Over the period 2004-2012, about 614.6 tonnes of gold were sold by France, while at the same time the other central banks of the Eurosystem with the ECB have agreed to limit their gold sales. According to a report of the Court of Auditors in 2012, this operation is extremely costly for public authorities and constitutes a serious violation of the national heritage, made without any democratic consultation.

Mr Governor, according to your statements, "gold remains an important element of global monetary reserves." For the French, you are considered the ultimate guarantor of the security of this gold reserve and therefore the stability of our currency and national financial stability. As a result, your responsibility is huge.

Also, depending on the situation we discover, I urge you to do it:

  • Urgent repatriation on French soil of all of our gold reserves located abroad.
  • In immediate discontinuation of any gold sales program.
  • Conversely, a gradual reallocation of a significant portion of foreign exchange reserves in the balance sheet of the Bank of France by buying gold at each significant decrease in the price of an ounce (recommendation 20%) .
  • A suspension of any financial commitment or loan contract would wager that our gold reserves.
  • At the patrimonial and financial balance of the 2004 gold sales transactions ordered by N. Sarkozy.

The implementation of these measures is crucial for the future of France face socio-economic problems that may occur.

Just like your heroic predecessors of the Bank of France in 1939 and 1940 had organized the evacuation of French gold, you need to undertake this vast national treasure of the security operation, patriotic act which will be recognized in due time by the public opinion.

I sincerely hope that, respectful of your duties as a senior official in the service of the state, you demonstrate lucidity and courage necessary for the defense of the general interest of our country. The stakes are high, it is the future of France in question!

Please accept, Excellency the Governor, the assurances of my highest consideration.

Marine Le Pen

 

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Tue, 11/25/2014 - 08:56 | 5485467 SpanishGoop
SpanishGoop's picture

Too late, the  Dutch got the last of it.

*gniffel,gniffel*

 

 

 

Tue, 11/25/2014 - 08:59 | 5485485 Divine Wind
Divine Wind's picture

 

 

 

Au Oui

 

Tue, 11/25/2014 - 09:04 | 5485499 MonsterBox
MonsterBox's picture

A real run on real money. Good luck.

Tue, 11/25/2014 - 09:05 | 5485509 Haus-Targaryen
Haus-Targaryen's picture

I wouldn't be flying Air France above Ukraine these days. 

Tue, 11/25/2014 - 09:09 | 5485521 GetZeeGold
GetZeeGold's picture

 

 

Not sure where these politicians think all this gold is going to come from.

Tue, 11/25/2014 - 09:24 | 5485560 Latina Lover
Latina Lover's picture

Memo from Vicky Nudelman/Nuland to Marine LePen:

You can get your gold back provided you are willing to send a French Passenger Jet over Moscow, to be shot down by Russian Rebels. Suggest you fill the plane with corpses and political enemies.

PS Hillary wants to meet you, she likes butch blondes.

 

Tue, 11/25/2014 - 09:27 | 5485571 philipat
philipat's picture

Perhaps the sheeple might even start to think why the sudden interest in getting the national hands on Gold? The worst nightmare of the CB's is a sudden resurgence of interest in physical Gold in the West, because there is simply no way to source the Gold and the price would explode.

Bring it on.....

Tue, 11/25/2014 - 09:37 | 5485610 SWRichmond
SWRichmond's picture

It's so barbaric...and trusting fiat issued from computers is so modern, educated, and fashionable.

Tue, 11/25/2014 - 09:47 | 5485635 economics9698
economics9698's picture

Fuck the tribe. 

Tue, 11/25/2014 - 09:51 | 5485647 Save_America1st
Save_America1st's picture

Sounds like we've got us a world-wide vault run going on, "folks".  This Swiss vote must have a lot of people spooked.  If it passes Switzerland is going to have to scoop up an average of 300 tonnes a year for the next 5 years to meet the 1500 tonne obligation.

I think some bitchez are waking up to this fact and wondering what the hell they're doing not stackin' that phyzz now while there might still be some available.  And it's dirt cheap right now too.

The musical chairs song is winding down and it's looking like America and England are going to end up being the two dumb bitchez left standing with no fucking gold when this is all said and done.

Have you stacked some phyzz lately???  ;-)

Tue, 11/25/2014 - 09:58 | 5485670 FinalEvent
FinalEvent's picture

It's even better, all this news will make the swiss vote YES

Tue, 11/25/2014 - 10:00 | 5485671 Save_America1st
Save_America1st's picture

And if you want to listen to an excellent interview on current gold holdings and other gold issues going on in the world, here's a great 2 part interview from the DailyCoin.org with Alisdair Macleod and Rory from SGTReport.com:

Part One:

http://thedailycoin.org/?p=12109#sthash.OrgDIDzd.dpbs

Part Two:

http://thedailycoin.org/?p=12187#sthash.AE0oS5gZ.dpbs

 

The part where Alisdair states that by his insider calculations he now believes China has amassed 30,000 tonnes of gold is something to pay attention to, especially with all these other countries now waking up to need for owning their own phyzz in substantial quantities. 

Stack up!!!

Tue, 11/25/2014 - 10:47 | 5485809 Killer the Buzzard
Killer the Buzzard's picture

Queue up the South Park "And... IT'S GONE!" video.

Tue, 11/25/2014 - 11:02 | 5485834 BaBaBouy
BaBaBouy's picture

GOLDIE GOLDIE GOLDIE...

Well Lookie Here...

ALL Of A Sudden, Everybody Wants Their "REAL PHYSICAL" UnPaperLike GOLDIE Back ...

Tue, 11/25/2014 - 11:32 | 5485953 palmdetroit
palmdetroit's picture

Clearly When they can't get it.. they will just make laws to take it,like every time before.

Gold - the bankers money  Cryptos - created for and by the people.

Tue, 11/25/2014 - 11:58 | 5486094 manofthenorth
manofthenorth's picture

"gold remains an important element of global monetary reserves."

'nuff said

Tue, 11/25/2014 - 14:32 | 5487030 Buzz Fuzzel
Buzz Fuzzel's picture

The grand scheme to end all future wars by collocating and mingling all the nations money i.e. GOLD will end when one of these nations wanting to repatriate is told they can't have their gold and they decide to use their guns to come and get it. Of mice and men.

Tue, 11/25/2014 - 10:58 | 5485843 Citxmech
Citxmech's picture

30k tons?  That would be llike 20% of all the gold mined on Earth.

If they could actually swing something like that, it would be pretty amazing. . .

Tue, 11/25/2014 - 11:28 | 5485935 Save_America1st
Save_America1st's picture

yeah almost 20%, if you go by the 166,500 tonnes of gold ever mined in the world so far on Demonocracy:

http://demonocracy.info/infographics/world/gold/gold.html

who knows?  I guess we'll probably never know for sure unless the Chinese find it advantageous one of these days to prove how much they really have stashed away at the bottom of their lake.  ;-) 

I've heard China mines around 400 tonnes internally every year and that never leaves their border.  Not sure how many years they've been able to achieve that average.  But what if they've been doing that for the last 15 years?  That's 6000 tonnes right there.  Add on the many thousands of tonnes they've accumulated from the rest of the world in that timeframe and it's really not hard to imagine they might have at least 20,000 tonnes. 

It's easier for me to believe they have between 20,000 and 30,000 tonnes than it is for me to believe we've still got 8000+ tonnes stashed in Fort Knox or anywhere else at this point.  I think most of it is all gone to China. 

Tue, 11/25/2014 - 11:33 | 5485956 HedgeHammer
HedgeHammer's picture

Kinda funny when you look at the last 16 centuries, China or rather Asia was the financial center of the world for 14 centuries. Just seems to me the pendulum is on its way back.

Tue, 11/25/2014 - 14:07 | 5486871 Citxmech
Citxmech's picture

The scary part of a physical gold-based economy is that oil/coal producers would end up in the seat of power - at least until the big players realized that all their hard-earned money was being exported for energy imports - and then the military campaigns begin.  

So what happens?  Mexican stand-off between the US, Russia, and China over the OPEC nations, or does Saudi Arabia get turned into a sheet of glass so nobody gets the spoils?

Tue, 11/25/2014 - 14:35 | 5487055 Buzz Fuzzel
Buzz Fuzzel's picture

The grand scheme to end all future wars by collocating and mingling all the nations money i.e. GOLD will end when one of these nations wanting to repatriate is told they can't have their gold and they decide to use their guns to come and get it. Of mice and men.

Tue, 11/25/2014 - 09:33 | 5485589 philipat
philipat's picture

I though Hilary preferred skinny, pretty middle-eastern origin brunettes also involved in sham marriages?

Tue, 11/25/2014 - 09:33 | 5485588 SafelyGraze
SafelyGraze's picture

just to be clear, missus le pen is not asking that the nation's treasury hold the nation's gold

she is asking the bank to hold the gold

because gold belongs in the bank

not in the treasury

that is to say, a *record* of the gold belongs on the *balance sheet* of the bank

the gold itself belongs in a bunker in the antarctic. but don't tell.

cheers,
the central banks of europe

 

Tue, 11/25/2014 - 09:40 | 5485615 philipat
philipat's picture

That should be "Gold and Gold instruments" belongs as a single line item on the CB Balance Sheet. Much more "Flexible".

There ya go, fixed it for ya...

Tue, 11/25/2014 - 11:48 | 5486019 Took Red Pill
Took Red Pill's picture

all this fuss over  unwanted remnants of a barbaric relic 

Tue, 11/25/2014 - 10:53 | 5485823 Squiddly Diddly
Squiddly Diddly's picture

It's called deep storage gold...........very deep.

Tue, 11/25/2014 - 09:30 | 5485586 TheReplacement
TheReplacement's picture

Air France uses Airbus, not Boeing.

Tue, 11/25/2014 - 09:35 | 5485603 tc06rtw
tc06rtw's picture

 . . . and they're bulletproof?

Tue, 11/25/2014 - 09:46 | 5485630 philipat
philipat's picture

No, but they don't have the Boeing system which allows remote overide of all systems. Ask Malaysian airlines.

Tue, 11/25/2014 - 10:25 | 5485737 Gold Eyed Cat
Gold Eyed Cat's picture

This is for the poster who junked Phil.  Maybe you didn't get the message?

"The Boeing 777 along with other Boeing models, can in fact be flown remotely through the use of independent embedded software and satellite communication. Once this advanced system is engaged, it can disallow any pilot or potential hijacker from controlling a plane, as the rooted setup uses digital signals that communicate with air traffic control, satellite links, as well as other government entities for the remainder of a flight’s journey.

This technology is known as the Boeing Honeywell ‘Uninterruptible’ Autopilot System."

Tue, 11/25/2014 - 11:34 | 5485963 fuu
fuu's picture

https://www.federalregister.gov/articles/2013/11/18/2013-27343/special-c...

 

"The proposed architecture is novel or unusual for commercial transport airplanes by enabling connection to previously isolated data networks connected to systems that perform functions required for the safe operation of the airplane. This proposed data network and design integration may result in security vulnerabilities from intentional or unintentional corruption of data and systems critical to the safety and maintenance of the airplane."

Tue, 11/25/2014 - 11:36 | 5485967 GetZeeGold
GetZeeGold's picture

 

 

 

Boeing Honeywell ‘Uninterruptible’ Autopilot System."

 

Don't forget the engines report location and operating conditions.....we've had GPS for a while....why not use it?

Tue, 11/25/2014 - 13:22 | 5486578 Socratic Dog
Socratic Dog's picture

Yep.  And there's places that monitor the continuous data stream in real time, with real people looking at it.  I'm not talking about the NSA.  Rolls Royce has a facility that does this, I was told by a guy that worked for them (several years ago, beore this happened), and that plane had RR engines.

Tue, 11/25/2014 - 21:02 | 5489027 philipat
philipat's picture

I think you Guys are missing the point. It's fine for transponders and engines to report location and performance. But having a system which, once activated, essentially locks out the PIC (Pilot in command) is another entirely. It CAN be used for good, for instance in the event of a hijack, although even then if a hijacker cannot redirect the flightpath, there is a risk of more violence onboard and/or just shooting up all electronic systems. But it MIGHT also be used for for more evil purposes because it can be activated remotely to take over the aircraft. So it solves one problem by creating several new ones. Of the major commercial carriers, only Germany's Lufthansa recogised the problem and refused to have the system fitted on any of its Boeing fleet.

Tue, 11/25/2014 - 09:04 | 5485500 Au Member
Au Member's picture

Marine Le Pen diagnosed with cancer in 5..4..3..2.....

Avoid light aircraft, nail guns, knives, tall buildings, bathtubs, etc etc

 

Tue, 11/25/2014 - 09:17 | 5485544 TheFourthStooge-ing
TheFourthStooge-ing's picture

Wouldn't be the first time such subterfuge was tried. The US/NATO made dozens of attempts to assassinate President De Gaulle, which pissed him off to the point that he booted NATO out of France.

http://www.globalresearch.ca/the-lessons-of-history-in-1966-president-de...

It's no wonder he began exchanging France's dollar holdings for gold, prompting Nixon to close the gold window in August 1971.

Tue, 11/25/2014 - 09:39 | 5485608 SoilMyselfRotten
SoilMyselfRotten's picture

C'mon Au, winters around the corner, gotta have snow plows on that list!

Tue, 11/25/2014 - 09:49 | 5485641 kridkrid
kridkrid's picture

The world should have reset then. Can't believe it has taken 40+ years to reach a climax.

Tue, 11/25/2014 - 14:41 | 5487087 Seize Mars
Seize Mars's picture

Wow, I didn't know about the assassination attempts.
Thanks

Tue, 11/25/2014 - 09:24 | 5485568 msamour
msamour's picture

The list is starting to be quite long. Pretty soon people will have to watch out for everything!

Tue, 11/25/2014 - 09:08 | 5485513 NoDebt
NoDebt's picture

Ah, non non.  Pas d'or por vous!

(I haven't tried out my French in 30 years.  I'm sure I butchered that.)

Tue, 11/25/2014 - 09:14 | 5485533 Alpo for Granny
Alpo for Granny's picture

-First Germany, then the Netherlands, perhaps Switzerland-

and Venuzuela

 

Tue, 11/25/2014 - 11:55 | 5486074 Took Red Pill
Took Red Pill's picture

that we know about! We only heard about the Dutch after the fact. I'll be many countries are trying to get their hands on their gold.

Tue, 11/25/2014 - 10:53 | 5485829 bustdrs
bustdrs's picture

BOOM.

Is the straw that breaks the camels back?

Never really quite worked out why the camel always cops it but......

Tue, 11/25/2014 - 13:11 | 5486508 flyingpigg
flyingpigg's picture

France has a reputation of breaking a camels back. In 1972 it was France which pushed Nixon to decide to leave the gold standard by asking delivery for the French dollar reserves. They didn't like the money printing to finance the Vitnam war. That was the end of the Bretton Woods agreement. 

Tue, 11/25/2014 - 11:23 | 5485920 m1a2lk6o
m1a2lk6o's picture

Yep, but there is still 74000 tonnes of Dutch gold in Switserland. Stolen by the nazis in WWII.

Can we still get it back after the Swiss Referendum?

 

Source:

Ons door de nazi's geroofde goud dreigt voorgoed te verdwijnen
(Dutch): http://www.telegraaf.nl/dft/nieuws_dft/23336447/__Ons_door_de_nazi_s_ger...

 

Our gold looted by the Nazis threatens to disappear forever

Google Translate (English) https://translate.google.nl/translate?sl=nl&tl=en&js=y&prev=_t&hl=nl&ie=...

Tue, 11/25/2014 - 18:02 | 5488178 Aeternus
Tue, 11/25/2014 - 08:54 | 5485468 Headbanger
Headbanger's picture

Oui!

Tue, 11/25/2014 - 08:55 | 5485469 buzzsaw99
buzzsaw99's picture

good luck with that

Tue, 11/25/2014 - 09:05 | 5485505 Tall Tom
Tall Tom's picture

The last time that the French wanted their Gold, back in 1971, they sailed two Warships into New York Harbor in order to get it.

 

Now I can imagine them shelling Wall Street.

 

BTW...They got their Gold.

 

Yeah...The French do have some balls...when their Gold is being held hostage.

 

I wish Germany would grow some balls...again.

Tue, 11/25/2014 - 09:06 | 5485511 Haus-Targaryen
Haus-Targaryen's picture

Slowly they are coming back.  Don't forget though, with over 100k American troops in Germany -- Germany is hardly a sovereign country. 

Tue, 11/25/2014 - 09:27 | 5485572 msamour
msamour's picture

With the correct amount of cyanide added to the GI food chain, the troop count can be brought down to 0...

 

Just saying!

Tue, 11/25/2014 - 10:43 | 5485799 moriarty
moriarty's picture

Supplied by I G Farben no doubt

Tue, 11/25/2014 - 11:16 | 5485895 tvdog
tvdog's picture

Spare us the Holohoax bullshit, Jewboy. There were no gas chambers, and anybody who has considered the issue knows it.

Tue, 11/25/2014 - 08:56 | 5485472 PartysOver
PartysOver's picture

Guessing the Swiss vote this weekend has a few peeps on edge.   Is this possibly the first steps to returning to the gold standard.  If so, thinking it will take decades to complete.

Tue, 11/25/2014 - 09:00 | 5485486 tarsubil
tarsubil's picture

Not returning to a gold standard. Returning to reality. Gold and silver are money. Paper is a lie and an empty promise.

Tue, 11/25/2014 - 10:21 | 5485727 Save_America1st
Save_America1st's picture

If the Swiss vote passes though that puts the Swiss Franc on a very good path towards strength and stability as well as breaking the peg to the Euro.

Ya might say that the Swiss Franc could one day become the defacto Reserve currency if they play this right. 

Tue, 11/25/2014 - 11:58 | 5486093 Took Red Pill
Took Red Pill's picture

if you believe the poll numbers, never going to happen

Tue, 11/25/2014 - 12:54 | 5486420 Savvy
Savvy's picture

Yeah polls said Scotland didn't want independence from Britain and VOILA!!

Tue, 11/25/2014 - 09:00 | 5485492 Debugas
Debugas's picture

no gold standard but taxing sale of gold is coming to EU very soon

Tue, 11/25/2014 - 09:12 | 5485527 SilverDOG
SilverDOG's picture

No worries, black market coming to EU very soon. For GOLD.

 

Tue, 11/25/2014 - 09:42 | 5485621 Urban Redneck
Urban Redneck's picture

Zürcher Freilager AG.  The billionaire's black market, all you have do is get past EU customs trying to impose another Nazi Exit Tax on gold.

Tue, 11/25/2014 - 10:58 | 5485845 Squiddly Diddly
Squiddly Diddly's picture

"Guessing the Swiss vote this weekend has a few peeps on edge. "

A few Chuck Hagel voting machines could fix that, and I hear he's not too busy to help. It's how we roll.

Tue, 11/25/2014 - 08:56 | 5485473 Sudden Debt
Sudden Debt's picture

I've been buying 20fr gold coins for the last 5 years because there where simply so many for sale.

so...

sure... the gold is still there... just not in 1 location anymore...

 

Tue, 11/25/2014 - 09:29 | 5485583 Freddie
Freddie's picture

I heard there is a lot of gold at the bottom of many lakes in America.  Guns and ammo too.  Boating can be dangerous.

Tue, 11/25/2014 - 09:33 | 5485600 GetZeeGold
GetZeeGold's picture

 

 

I've been buying 20fr gold coins for the last 5 years because there where simply so many for sale.

 

I'm sure that seems like a lot to you....but in the grand scheme of things....it's not even a drop in the bucket.

Tue, 11/25/2014 - 15:48 | 5487440 Sudden Debt
Sudden Debt's picture

It's indeed sobering to see how much a year salary only gives you in gold. The volume kind of small to be honest. When I began, I expected it to be larger in volume.

Like when you see those old pirate movies when they dig with their hands in golen coins? 1 hand full of coins is a full years pay.

Tue, 11/25/2014 - 10:35 | 5485764 Save_America1st
Save_America1st's picture

I think I'm going to get one of those today...maybe it'll be good luck for the Swiss vote!

Tue, 11/25/2014 - 08:56 | 5485475 IPURDOM75
IPURDOM75's picture

Go MARINE!!!!!

Tue, 11/25/2014 - 08:56 | 5485476 Kina
Kina's picture

Well if they gotta go out and buy all that gold to give back to everyone...better make it cheap as ..

Tue, 11/25/2014 - 09:16 | 5485541 SilverDOG
SilverDOG's picture

Tungsten anyone?

 

Tue, 11/25/2014 - 08:57 | 5485477 delbutler
delbutler's picture

Well played, Monsieur Le Pen. Just make sure no-one does a "Gordon Brown" with it once it's all back in France.....

Tue, 11/25/2014 - 09:01 | 5485496 Global Hunter
Global Hunter's picture

Madame Le Pen

Tue, 11/25/2014 - 08:57 | 5485478 tarsubil
tarsubil's picture

What? Someone say something about gold?

https://www.youtube.com/watch?v=cFERPDn3i0o

Tue, 11/25/2014 - 09:14 | 5485534 GetZeeGold
GetZeeGold's picture

 

 

The tribe tried to draft Chappelle. He said.....oh hell no!

 

Some things just aren't worth 50 million dollars.

Tue, 11/25/2014 - 08:57 | 5485481 Max Damage
Max Damage's picture

When does she have an "accident"

Tue, 11/25/2014 - 08:58 | 5485483 Notsobadwlad
Notsobadwlad's picture

And, why not? If the US is being destroyed on the altar of Satan, why not take the gold out of the building before collapsing it?

Just like 9/11.

Tue, 11/25/2014 - 09:00 | 5485487 Debugas
Debugas's picture

as France got mentions again my first thought was about Mistrals

Holland refuses to deliver Mistral ship to Russia

Russians threaten to go to court over the break of the contract

Tue, 11/25/2014 - 09:00 | 5485490 NoWayJose
NoWayJose's picture

The French are so 'barbaric'

Tue, 11/25/2014 - 09:01 | 5485493 ncdirtdigger
ncdirtdigger's picture

Obviously a terist. Arrest her!

Tue, 11/25/2014 - 09:01 | 5485495 JulienFR
JulienFR's picture

She has no power , then no risk 

Tue, 11/25/2014 - 11:20 | 5485903 tvdog
tvdog's picture

She's going to be the next president of France.

Tue, 11/25/2014 - 09:03 | 5485497 A82EBA
A82EBA's picture

everybody gets it but americans

Tue, 11/25/2014 - 09:05 | 5485502 ...out of space
...out of space's picture

too late. ECB already take over all EMU banks under pretend of supervision. so there is no more france central bank with france gold.

Tue, 11/25/2014 - 09:04 | 5485504 pitchforksanonymous
pitchforksanonymous's picture

Sure. No problem France. We'll pencil you in for say . . . . 2036. Not a day later.

Thu, 11/27/2014 - 12:55 | 5494322 Analyse2
Analyse2's picture

For the French gold repatriation would be marginal: it is nearly in its totality already in France.

 

 

Tue, 11/25/2014 - 09:05 | 5485506 Notsobadwlad
Notsobadwlad's picture

It would be well worth giving every bit of gold to the Sumerian gods as they pass the earth on their next time around as long as they take the elitist parasitic trash with them when they leave. Maybe each elitist piece of parasitic trash wants his own stash of gold to give their pagan gods as tribute.

Tue, 11/25/2014 - 09:06 | 5485508 Bokkenrijder
Bokkenrijder's picture

FN (Front National) is pathetic and even has to beg Russian banks for money: http://www.france24.com/en/20141123-france-far-right-turns-russian-lende... http://www.bloombergview.com/articles/2014-11-24/russias-big-bet-on-the-...

BTW, ironic how the Russians are supposedly 'protecting' us from Ukrainian fascists, but now extend FN a €9m loan to, a party known for it's anti-semitism.

Tue, 11/25/2014 - 09:31 | 5485565 IPURDOM75
IPURDOM75's picture

the reason why they had to ask foreign bank is because no French Banks wanted to loan them any money. How democratic is that for the fisrt party in the poll ? And you want to know the reason? Check Le Pen's program for the last presidential election in  2012. Mostly in the Monetary policy part! If you're not too stupide you'll understand easily.

 

However for Sarkozy who cheat on his campaign donations, not an issue. Bank loaned him all in style!!

 

Tue, 11/25/2014 - 11:44 | 5485985 Jonathan Equine...
Jonathan Equine Phallus's picture

'anti-semitism' gets thrown around a lot - do you happen, seriusly, to have any evidence of the bona fide kind?  Like the kind of actual anti-Semitism supported by Ukraine's oligarchs as the means for street support for their coup?  In that case - fuck 'em.


BUT: if you basically just mean opposing the organized, disproportionately wealthy and politically connected Jewish Zionist community - you can go right ahead and fuck yourself.

 

[Eng] Alain Soral: The CRIF, the french AIPAC (eng subtitles)

 

 

Tue, 11/25/2014 - 11:48 | 5486023 IPURDOM75
IPURDOM75's picture

Soral is the man!

Tue, 11/25/2014 - 12:34 | 5486282 Bokkenrijder
Bokkenrijder's picture

Well...keep on dreaming Gold Bugs! About Russia coming to the rescue, about the Netherlands coming to the rescue, to Switzerland coming to the rescue and now, to France coming to the rescue of ever falling prices. Oh sorry, you probably now come with the excuse that it's all about "value" and not about price. Well, anyway, "BTFD" and "this time it's different" is obviosuly not something that is exclusively reserved for stock buyers, but apparently also counts for Gold Bugs.

Oh, and on a side note, most here probably never lived & worked in France, Switzerland, or the Netherlands, nor have they ever been to Russia, China or any other rogue country that they hope will 'agree' with them and introduce a new gold standard. Most here probably couldn't even point these countries out on a map, unless they have an iPhone app for it.

Dream on folks, or go and watch King World New for a stiffie about the next "imminent" black swan that will land in your gold and silver paved back yard.

Yeah, go on! Give me more red fiat kudos! ;-)

Tue, 11/25/2014 - 09:06 | 5485512 thatthingcanfly
thatthingcanfly's picture

Ever notice how they routinely refer to Front National as "right-wing?" They use this term as if it were a curse word.

Nevermind the fact that, 30 years ago, the Front National's platform would be considered mainstream French.

Tue, 11/25/2014 - 09:18 | 5485542 Big Corked Boots
Big Corked Boots's picture

True in this country as well.

If you ever examined John F. Kennedy's speeches and policies, he'd be kin to Ron Paul. Now look what has happened to the K clan...

Tue, 11/25/2014 - 09:31 | 5485590 Freddie
Freddie's picture

Anyone who is for the people of that country aka the citizens is right wing or any other insult they dig up.

Tue, 11/25/2014 - 12:08 | 5486137 Latitude25
Latitude25's picture

Part of their platform is to send muslims back where they came from.  If they want to live in France then they should be French, not living in some alternate midieval reality.

Tue, 11/25/2014 - 15:09 | 5487299 Ghordius
Ghordius's picture

"right-wing" isn't a curse word everywhere
in fact, the "political right" label is often used as synonymous for conservative, for politicians from Putin to Sarkozy to Berlusconi to Rajoy to Merkel

Right/Conservative vs Left/Socialist being the main political front, in the european continent, with "liberal" being the third component

Note how Ms Le Pen speaks of the "libertarian" policies of the EU and the ECB. She would as well use "liberal" and/or "globalization promoting", depending from the angle

"far right" is more the "curse" continental term, denoting a certain disdain for democratic principles and personal liberties, particularly in front of the law, or national interests

Tue, 11/25/2014 - 09:08 | 5485515 skbull44
skbull44's picture

Boy, if only my homeland (Canada) had gold to repatriate....Liberal government of the '90s liquidated it all. The geniuses in charge here have us down to a paltry 0.00155% of our international reserves in gold.

http://olduvai.ca

Tue, 11/25/2014 - 09:19 | 5485546 Big Corked Boots
Big Corked Boots's picture

Your reserves are still there - in the ground - just harder to steal that way.

Tue, 11/25/2014 - 10:05 | 5485686 Rock On Roger
Rock On Roger's picture

Deep storage, but we have the tar sands to use to dig the gold out.

 

Lulu Amelu, bred and born to dig the gold.

 

Stack On

Tue, 11/25/2014 - 09:08 | 5485516 youngman
youngman's picture

Good for the French...the first one that do this wins....the last ones might be a little short...IMHO

Tue, 11/25/2014 - 09:08 | 5485519 Apostle of Unknown
Apostle of Unknown's picture

Regardless of this, the Front National and Le Pen is not 1 but 2 steps backwards for France.

Tue, 11/25/2014 - 09:19 | 5485551 falak pema
falak pema's picture

Spoken like the Apostle of the KNOWN. 

Tue, 11/25/2014 - 09:32 | 5485597 msamour
msamour's picture

Remember 2 steps back means the kick in the nuts will hurt even more when the foot comes flying forward...

Tue, 11/25/2014 - 09:54 | 5485655 GeezerGeek
GeezerGeek's picture

I wish the US would take a few - or a dozen - steps backward. When one is standing on the edge of a high cliff it is often better to go backward than forward into the abyss.

Tue, 11/25/2014 - 09:11 | 5485525 LostandFound
LostandFound's picture

Is it me, or is gold getting some momentum lately?

The Netherlands repatriating half of there gold could be start of a trend, if Swiss does vote yes, then this trend could move quickly.

In the interim China / India and Russia continue to increase there reserves at record pace......

Some countries must be getting nervous.....one country has jumped out of the room, another may follow on Sunday, then who knows what....

Tue, 11/25/2014 - 09:13 | 5485530 Schmuck Raker
Schmuck Raker's picture

How long did it take the Germans to give up on getting their gold back?

How fast can the French do it?

Tue, 11/25/2014 - 11:04 | 5485865 Bastiat
Bastiat's picture

What did they get in return, I wonder?

Tue, 11/25/2014 - 09:14 | 5485535 falak pema
falak pema's picture

Since we are talking about France here is an update about the Mistral ships that were allegedly released for delivery to Russia yesterday.

In fact, Hollande has indicated today that delivery is "on hold" sine die, awaiting that Russia conforms to "all aspects" of the Bielorussian accord of Minsk concerning cease fire treaty in Ukraine, aka he moves his troops OUT of Donetsk region and allows Ukrainian rule there-in; something that will not happen in a month of Sundays!

So, the arm wrestling between EU and Putin continues. 

Meanwhile in Strasbourg, Marine LePen asks for Juncker's resignation for his implications in Luxlaundry mat shenanigans for over 10 years. Which makes Juncker push the junk button on her. Juncker has a majority of the EU Parliament on his side against the euroskeptics. So his past corruption is just a sign of the times; aka when things get serious you have to give the Oligarchs tax breaks, and tell the people little "sweet nothings". 

Tue, 11/25/2014 - 09:16 | 5485537 Seasmoke
Seasmoke's picture

I would stay out of the Eiffel Tower for the next few days. 

Tue, 11/25/2014 - 09:56 | 5485662 GeezerGeek
GeezerGeek's picture

Can they move it to the US, where it will surely be kept safe?

Tue, 11/25/2014 - 09:16 | 5485540 Joenobody12
Joenobody12's picture

" ...serve as the ultimate guarantee of public debt and our currency. "

What currency ? Does she mean the currency after the euro is no more ? Seems like most EU members are preparing for the demise of the Euro.

Tue, 11/25/2014 - 09:23 | 5485563 Debugas
Debugas's picture

euro demise will be sealed as soon as USA and EU sign free trade agreement

Tue, 11/25/2014 - 09:18 | 5485545 WTFUD
WTFUD's picture

I would trade every piece of shit in the House of Commons and Lords for ONE Ms LePen.

Signed Me Darkie

Tue, 11/25/2014 - 09:18 | 5485547 Son of Captain Nemo
Son of Captain Nemo's picture

Between Yves Mersch's announcement about entertaining the the possibility of seizing personal holdings from Germany's taxpayers to Marine La Pen's announcement to the Central Bank of France....

You can hear a pin drop!  Either that or lots of pen(s) looking for a "signature"!!!

Tue, 11/25/2014 - 09:19 | 5485548 SickDollar
SickDollar's picture

Trust me she is just making noise. NOTHING WILL HAPPENED

 

 

Tue, 11/25/2014 - 11:43 | 5485983 where_is the_nuke
where_is the_nuke's picture

Noise she makes while sucking jew cocks.

Tue, 11/25/2014 - 09:22 | 5485555 silverer
silverer's picture

He must have happened across ZH a few weeks back.

Tue, 11/25/2014 - 09:21 | 5485557 alexmark2013
alexmark2013's picture
JIM WILLIE — CLIMAX EVENTS: Stealth QE, Currency Wars, Dollar Demise & Gold Demand Meets No Supply  http://investmentwatchblog.com/jim-willie-climax-events-stealth-qe-currency-wars-dollar-demise-gold-demand-meets-no-supply/
Tue, 11/25/2014 - 09:24 | 5485567 overmedicatedun...
overmedicatedundersexed's picture

why would any modern economy and state want gold? answer that and you may come to think owning it is not so bad an idea..non? but the time for getting it is very short if nations continue to want their gold back, cracks cracks in modern money theory..ask greenspan what he thinks of gold.

Tue, 11/25/2014 - 10:17 | 5485717 escapeefromOZ
escapeefromOZ's picture

Greenspan said recently that gold is MONEY . 

Tue, 11/25/2014 - 09:32 | 5485591 Sizzurp
Sizzurp's picture

The central bankers, knowing how bad they've screwed up in leasing and selling the national treasure chest, are going to deflect the coming storm and suggest confiscation as a remedy for their fraud.

Tue, 11/25/2014 - 10:30 | 5485752 photonsoflight
photonsoflight's picture

They may try but thanks to modern society we no longer have to follow their laws, just ask obama. If he doesn;t have to follow the law why should anyone else. I went fishing the other day with all my gold and guns and guess what happened?

Tue, 11/25/2014 - 14:56 | 5487203 crazybob369
crazybob369's picture

Leaky boat???

Tue, 11/25/2014 - 12:20 | 5486207 nidaar
nidaar's picture

If one buys a stolen item, he's forced to give it back according to law right? Although he might claim he didn't know it was stolen and paid legitimately.

If banks claim they leased the gold, while bullion banks 'sold' it to people, how does this end when 'leases' are called back?

Just askin..

Tue, 11/25/2014 - 09:33 | 5485595 Hobbleknee
Hobbleknee's picture

"Conversely, a gradual reallocation of a significant portion of foreign exchange reserves in the balance sheet of the Bank of France by buying gold at each significant decrease in the price of an ounce (recommendation 20%) ."

 

So they think gold will drop 20%, multiple times?

Tue, 11/25/2014 - 09:41 | 5485620 TheReplacement
TheReplacement's picture

Portion of fx reserves, 20%, not a 20% price drop.

Tue, 11/25/2014 - 10:16 | 5485718 skepsis101
skepsis101's picture

Ouch!!!  I doubt that.  I'm pretty sure she was suggesting purchasing 'up to a 20% allocation of reserves, similiar to the Swiss referendum, and not 'purchasing each time gold might decline by 20%.  Probably a less than expert translation of the French original.

Tue, 11/25/2014 - 09:34 | 5485599 Peter Pan
Peter Pan's picture

All nations need to repatriate their gold and their soldiers.

Tue, 11/25/2014 - 09:40 | 5485612 Dragon HAwk
Dragon HAwk's picture

Yeah every country repatriate their soldiers and let the citizens of each country handle the stragglers,  what a strange concept..

Tue, 11/25/2014 - 09:46 | 5485633 Peter Pan
Peter Pan's picture

I don't quite follow you and I am not sure you follow me. Would you care to elaborate?

Tue, 11/25/2014 - 11:26 | 5485930 tvdog
tvdog's picture

"All nations need to repatriate their gold and their soldiers."

Good idea. Then abolish the WTO, the World Bank, the IMF, NATO, and the UN, and take back control of the borders. People vote in national elections. Every international organization is by definition undemocratic.

Tue, 11/25/2014 - 09:45 | 5485629 wstrub
wstrub's picture

Keep your eyes on silver.................that's where the problems are. 

Tue, 11/25/2014 - 11:26 | 5485933 tvdog
tvdog's picture

Please elaborate ...

Tue, 11/25/2014 - 14:52 | 5487182 crazybob369
crazybob369's picture

Large commercial banks, hedge funds and speculators are short some 500,000,000-600,000,000 oz of silver in futures contracts. Considereing that only about 600 mil oz of silver get mined anually (and declining), what's going to happen when even a small percentage of those contracts stand for delivery. I'm guessing a collapse of the Comex and a reset of phys silver prices somewhere north 0f $200.

Tue, 11/25/2014 - 09:51 | 5485639 JPMorgan
JPMorgan's picture

LMFAO!

Looks like the players are starting walk away from the table and want to cash in their chips (IOUs), the casino better have the goods on hand or there be hell to pay.

Tue, 11/25/2014 - 09:48 | 5485643 The Wizard
The Wizard's picture

Remember what was discussed prior concerning the Swiss legislation. Do they want their gold reserves returned or gold bullion? There is a difference

Tue, 11/25/2014 - 09:50 | 5485644 Ban KKiller
Ban KKiller's picture

Because no one trusts accountants anymore? Because derivatives are about to implode? Fiat currency is backed with endless QE? Bankster have corrupted all that does glitter so grab it all back....just to be SAFE! Makes too much sense. Audit the Fed? Sorry, above the law!

Tue, 11/25/2014 - 09:50 | 5485645 SMOOCHY SMOOCHY...
SMOOCHY SMOOCHY CARLO's picture

Bonjour mes amis... Ecoutez bien. Elle est conne comme tout.  Rien se passe.  L'or c'est pour les connards qui suivent The Blaze, et des bagues d'alliance.  En France, c'est le cake.  Comme "let them eat."

Tue, 11/25/2014 - 11:09 | 5485881 WTFUD
WTFUD's picture

Smoochy Yer Ma's got Bazz

Tue, 11/25/2014 - 09:52 | 5485651 jvetter713
jvetter713's picture

"You sissies again? Shut your mouth and go take a shower. You'll get nothing and like it."

That is the reply to the French I might expect.

Tue, 11/25/2014 - 09:58 | 5485668 AE911Truth
AE911Truth's picture

Have the EU nations realized if they print money to buy Gold driving up the price, they will have more good collateral without counterparty risk? Sounds like a win win.

Tue, 11/25/2014 - 11:04 | 5485863 gcjohns1971
gcjohns1971's picture

Yes.

However, doing that leads to instant hyper-inflation such that there will result massive social instability.

They're trying to avoid that.

But...

This letter would indicate that official capitulation is near.

Tue, 11/25/2014 - 10:01 | 5485680 yogibear
yogibear's picture

And the German people should be asking the US Federal Reserve:

"Where is our gold?"

Looks like the Fed wasn't delivering.

 

Tue, 11/25/2014 - 11:50 | 5486032 tvdog
tvdog's picture

The German parliament wanted the gold returned. The German central bank essentially ignored the government. That's "central bank independence" for you.

Tue, 11/25/2014 - 10:04 | 5485685 shovelhead
shovelhead's picture

What a bunch of nervous Nellies...

This is the US were talkin bout here, not some 3rd rate banana republic run by gangsters.

Your gold is perfectly safe.

Trust us.

 

Tue, 11/25/2014 - 10:08 | 5485700 GetZeeGold
GetZeeGold's picture

 

 

Your gold is perfectly safe.

 

Yeah....it's protected by our new army of legal illegal aliens.

Tue, 11/25/2014 - 10:26 | 5485738 escapeefromOZ
escapeefromOZ's picture

The USA is a banana republic now . The bully is involved in too many wars and scandals . Nobody trusts the US government . I do not believe anything that comes out of government officials . I lot of people are like me . Trust ? USA you have to earn it and too much water has passed under the bridges and too many lies have been told . 

Tue, 11/25/2014 - 10:36 | 5485777 doc333
doc333's picture

forgot your sarcasim symbol 

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