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Here Comes France: Right-Wing Leader Marine Le Pen Demands Central Bank Repatriate French Gold
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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Hey! who's next ? Canada is now 91st in total gold reserves. Why not give the Swiss and French a boost by signing the petition : Restore Canada's Gold Reserve ...at the following url:
http://www.thepetitionsite.com/405/184/709/restore-canadian-gold-reserve/
Annnnd, it's gone!
http://www.youtube.com/watch?v=-DT7bX-B1Mg
All this French/gold stuff has me asking two questions.
1.The gold belonging to the World Bank / Bank of Internetional Settlements (BIS), is being held for various nations like a vault, or is it just holding paper with a country's name on it? I read once it had over 8000 tons of gold and was using it to back up Special Drawing Rights (SDR) an international paper currency, the currency of the central banking tribe or ??
2. Was the fatal accident to the CEO of Total in Russia an accident as proposed or a technique to make sure Total wasn't cooperating with the Russkies in oil deals and thus alarming the NATO/US tribe. Next time I hope they use a nail gun on those who are not playing the game according to their? rules as it might seem more like a normal construction accident.
Note: Are we becoming paranoid, in order to provide answers to ourselves, and prove to ourselves what is going on is not random, but well planned. It doesn't help me sleep knowing we are part of a giant plan which we are not aware of or a party to. It is like the central banks, once our saviors are now our addiction. Time to RESET the systems and open up the books so we feel part of the system and can vote with some assurance we have the information needed to vote in the best interest of our tribe and the world community.
Russia and China are actually engaged in foreign policy, where the US (Obama) is not. Is it possible that some of these very recent gold-related stories (France wanting gold back and 20% gold in reserves, ditto Switzerland, Netherlands gold repatriation, etc.) could be the result of China/Russia persuasion? And, if so, what does this mean for the future of gold prices. Hmmmm......
I don't think that understanding the vulnerability of the fiat currency system, or Gold's role as a durable money, requires political allignment with either Russia or China (who are at best temporarily moving in the same direction).
gcjohns1971 - That's not the point I was making. A country can do a small "favor" for another country without being completely politically aligned with them. Russia and China both have goods to move and Europeans have reasons to want good deals on those goods. On your last point, I never said Russia and China are in bed together for good, but for right now, yeah, they temporarily have a lot of common interests. That's my point. That's what I'm talking about, right now, not 20 years into the future. Russian and China both know they need to act quickly while the US has an unengaged, weak, friendless moron running it...... You read a lot of things into my comment that were simply not there.
It'll take 7 YEARS to get just a little bit....... GOLD is very heavy to transport .. thats why germany has to wait ...
HIDE YOUR GOLD... Central BANK Fuckers will do anything to steal it
After the Dutch decided to keep their mouth shut and keep the report on MH17 investigation a secret, Netherland got 122 tons of gold.
I infer if Germany really want their gold repatriated. They would need to sacrafice a few hundred Germans. They can do that by committing their troops to fight the pro-Russia Ukraninan separatists.
YES ... that would indeed help the BANKS with their FAKE WAR scenario ! ... Hopefully the FAKE leader PUTIN and the FAKE NATO org can get together and make the BANKS alot of Money !
Please feed the war machine with your babies !
etherium gold
the ethereum ether sale has now concluded.
Estimated ether purchased:
60,102,216 ETH
The 'Repatriation Request' part of this missive is unimportant. There is no gold to repatriate. There may have been no physical gold deposited in the first place as they have been paper-trading gold for a long time.
What is important is that it is PERILOUSLY close to an official admission that the current world-wide fiat-currency regime is beyond salvage.
What happens when everyone understands, really understands, that their fiat-wealth is vapor that will disappear as soon as the sun shines? I don't think anyone really knows except that the impact will be catastrophic.
I would submit to you that an official admission that the fiat currency system is unsalvagable is the last thing that happens before people act en masse on the imminent dissolution of their paper-wealth, one minute before the midnight of financial armageddon.
This missive would seem to be only one or two steps removed from that official announcment - such that I believe it puts us, perhaps, two or three minutes from midnight.
The 800 lb gorilla sitting on the couch next to the average American with a beer in his had who is yelling at da footbah game (Neanderthals). Barbaric repatriation is probably just one of many -- perhaps futile -- attempted methods for protection of the sovereign until such time that JP Goldman Suks and the other primary dealers of the petro-war-dollar debt and death paradigm convert over to physical assets and MIC funding in a big way. When all the faux paper stawks, leveraged and hedged CDx's and subsequent paper derivatives stacked on top unravel, antimony, lead, and brass will probably be the most desired metals of that then current period in time. No choice for the average Neanderthal human, too late to wake up then -- the government thugs control the debt and death. Until Neanderthal Joe Sixpack and Bubba turn away from their bread and circus spectacle to see that gorilla on the couch and question the sight, expect more and more distraction, WAR and debt, until it doesn't work any more and civil unrest due to 100 Trillions of unfunded liabilities are upon the US ( and you'll need to pay an exit tax and have an exit Visa to get the F out of the US).
My family refused expatriation and the establishment of a foreign homestead idea, so my futile attempt at protecting my sovereign is lead, PM, and some limited off-grid supplies, as well as some small amount of hard currency USD and RMB and crypto BTC/LTC/DOGE. My interest in stawks went away years ago after getting screwed several times via short stops by millisecond HFT plays. The fiat illusion will continue until the Neanderthals see the barbarian for what it is worth.
The Barbarian (ELP Live in Switzerland 1970)
http://youtu.be/ey9OhwZ_QgA
Ever go to or read about estate sales?
If they are any indication, and you are right about lead, antimony and brass, then the government will no longer be the 800lb gorilla. The 'Authorities' are always a tiny minority. In our case they are a tiny minority of URBANITES. They'll need all the lead, antimony, copper, and brass they can get just to make it to the airport.
Never ever forget that all the government's "muscle" are joe-six-pack types.
One more straw on the camel's back...
The central banks want currency devaluation and massive inflation. It's why they want their gold. They know what the plan is.
Two separate issues.
They want inflation so that the banking powers can be preserved. With inflation they can wipe out all the Bank's liabilities while retaining its assets. Banking is the premier tool of social-financial control. They want to preserve the tools they have.
Alternatively, they want the Gold, because that is real wealth.
If you are the banker in monopoly, you can't restart the game unless you have the majority of the wealth.
Gold repatiration and seizure is not about preserving the current system.
It is about certain people and groups retaining their place in the social heirarchy.
Writing for Mediapart, Marine Turchi reveals that the far right French Front National (FN) has secured, already in September this year, a 9 million Euros loan from the First Czech-Russian Bank (FCRB). The party led by Marine Le Pen has already received 2 million Euros. The information on the loan to the FN, according to Mediapart, has been confirmed by a member of the FN's political bureau. This development supports my earlier argument that "European right-wing extremists seem to benefit financially from their cooperation with the Kremlin".
http://anton-shekhovtsov.blogspot.it/2014/11/the-french-far-right-secure...
Russia's Big Bet on the French Far RightIt literally pays to be a European friend of Russian President Vladimir Putin. At least that's the experience of Marine Le Pen, whose far-right National Front party has secured a 9 million-euro Russian bank loan in what appears to be a Kremlin bet on the future of French politics.
http://www.bloombergview.com/articles/2014-11-24/russias-big-bet-on-the-...
Putin regime buys it's goons out side Russia.
"Putin regime buys it's goons out side Russia."
you know you're losing when you start making comments such as these.
LMAO
we are finally at/close to the finale. Gold is going to be go back to its historical place of importance! I think alot of people are swimming naked, when SHTF it will be very entertaining to watch and profit from. Sounds cruel but people were forewarned.
Very correct. Gruber all who laughed and laughed at the goldbugs.
( Gruber: Verb, noun, adjective, replaces f--k as the favorite, most used four letter word in the world. Usage: Anywhere formerly widely used four letter words f--k, s--k, c--t, s--t would be appropriate or inappropriate language, depending on your breeding, background. outlook on world affairs, etc. ie: gruber 'em, I've been grubered, what the gruber, gruber her brains out, gruber you, gruber-face, we're all grubered.)
Its more important she requests the bank to print Euros to wipe out the French private debt.
Then they can return to village life.
Anybody noticed this :
http://www.france24.com/en/20141123-france-far-right-turns-russian-lende...
Yes, look 2 posts before you.
If true, then it is obvious TPTB in Europe are trying to crush her party thru funding (lack of).
Any time a Nationalist raises their head in Euroland, TPTB go on attack.
But, if you think about it, and have ever been to Europe, those countries are all pretty proud of their history as individual states. I'm talking about the regular people, not the elites, IMO.
You don't ask, you don't get! Then again you can ask as much as you want in this case and you still won't get!
It's gooooooooooooooooooooonnnnnnnnnnnnnneeeeeeeeeee ffs, asking will just cause embarrassment
Isnt' it the same party that got 8 mil euros from "brother" putin?
good he is finanacing far-extreme parties instead of taking care of his own people who work their asses for 200 eur/month. Ah, and ha is constanlty increasing his army thinking we live in 1982 or so. what a piece of crap...
The amount of paper gold outweighs the real stuff and at least you can wipe your arse with it. s/c
I can hear the Central Bank Chief cry MERDE!
WOW this news really caused a change in the price of GOLD... Hahahaha.. OH i forgot, its a completely FAKE and Manipulated Market of FAKE Paper !
So price stays the same no matter what the news... unless they can make some money off it
Fuck you FAKE BANKER WORLD
Where is freedom?
This week there were signs that some of the residents of the Donbas are getting frustrated with the standoff between the separatists and Kyiv. Small anti-separatist protests mounted mainly by women and pensioners have been appearing. The so-called “hunger protests” are mainly springing up in the smaller towns.
In Sverdlovsk on Monday about 2,000 people participated in an anti-separatist protest and held up pro-Ukraine banners. They demanded Russian troops - the fighters say they are “volunteers” - to leave the town.
http://www.voanews.com/content/pro-moscow-separatists-face-health-crisis...
And Faschivtsi, Chornuhinomu Krasny Luch and locals with materials at hand demanded the Russians to leave the cities and withdraw military equipment, spokesman of information-analytical center Andrei Lysenko National Security Council briefing on November 25.
“In temporarily occupied territories of Donbass increases the resistance of local residents, which becomes more and more organized. In particular, in Donetsk yesterday hosted the presentation, organized by the so-called women’s battalion united opposition “- he said.
” Local women outraged existing situation with supplies of food and the lack of any social security from terrorist power, and the appearance of counterfeit money management so-called NPT, which does not accept any store, “- said Lysenko.
“Activists protest movement put the so-called ultimatum premiere DNR & ndash; for 2 months to get out of the city” - he says.
Lysenko said that similar protests of local residents over the last days Amvrosiyivtsi , and Yenakievo Torez Donetsk region and in Anthracite, Sverdlovsk, and Chervonopartyzansk Rovenky Luhansk region.
“In addition, in the occupied settlements Faschivka, Chornuhine and Krasny Luch, where Russian troops directly placed in the midst of residential neighborhoods positions for fired power plants ATO “Grad”, the locals came out of the materials at hand, requiring Russians leave their cities and bring with them all the military equipment, “- said spokesman NSDC.
http://ukrainiancrisis.net/news/5675
try and stay on topic. understand it is difficult for you. do your best.
you could, for example have referenced this article.
where are the Ukie gold reserves?
http://rt.com/business/207347-ukraine-gold-reserves-gone/
or maybe assured us that the 6+ tons of LV gold hasn't been confiscated by the ussa - yet. LMAO
The VOA (voice of America) is not a very creditable source
But of course only Ruskies Today is credible for you :)
Sophisticated as they are, Kievan Yatzi 'latvian' citizens prefer propaganda and fantasy.
Admittance of basic reality is too primitive man for them.
ahhh my own personal ruskie troll is here :) always at my comments, trusty as little puppy and yes as little puppy look what you have left there on the floor ... Bad boy... Bad... Well thats what happens when they get to nervous :) but you are trusty one... Will be at my side allways :) i know. That is why i like you.
look i will give you one plus, no go on shooo... play
Glad you can visit your own fantasy.
Deeper in fantasy, hard to connect with reality...
Viedoklis
i see that you are from Latvia. I have visited your lovely country and was very glad that you regained independence after many years of Soviet occupation. I have visited many museums in Riga that showed the heroic efforts of the Latvian people to regain their Independence after the long days of Soviet occupation. My country, the United States of America was one of the few countries in the world which never recognized the illegal soviet occupation of your country. However you statement regarding news sources is not correct,
Amazing how Kievan Yatzi 'latvian' citizens are able to cling to pure fantasy when they are surrounded by a contradictory reality.
As Kievan Yatzi 'latvian' citizens do not speak of what they do, they can easily come up with strawsmen, unloading their own failures onto others.
VOA News, a collaboration of the CIA and right wing Jewish neocons?
Go fuck yourself.
The last gold-backing law in the US called for 40% reserves in Gold.
Nixon closed the Gold Window because De Gaulle knew this was a bluff, and called for the Gold.
Assuming Fed money supply numbers of three years ago were correct, Gold would have to be $54K / Oz (minimum) to get a 40% backing.
This calculation needs to be repeated.
I guess the Germans don't have to worry about repatriating their gold any more... they can just take France's the next time they invade.
Woudn't that imply the Germans would
a) go to war again against France
b) and win?
Why do you think would Germany do that? After we've given nearly everything to the EU and are thos which do pay the most for all this "rescue actions"....
Bring it on home
Jim Willie has said 'isolation' for the U.S. is what's on the menu for quite some time, not that it isn't readily apparent.
the interesting thing about gold is that it doesn't matter where it is kept as long as the owner knows it is in a safe place. the only reason an owner of gold needs it in personal possession is if the security of the gold was questionable or it is intyended to be spent.
the questions to ask then are, are there security fears and what are they? do they need their gold in possession because the new system requires some periodic settlement of account deficits with gold? do the owners just need a provable quantity of gold to reset the new currency? is this tied to the new yuan basket of commodities approach to forex?
if these questions have no merit then all this gold repatriating is just political show.
an ounce in hand is worth ten in the Fed vault
yesterday zerohedge posted this thread
Russian Crew Boards 1st Mistral Carrier As France Quietly Completes Construction Of 2nd ShipToday France postpones delivery of the 1st warship. If the Russian sailors are already abroad the ship, maybe the French will let the ship go "by accident,"
It will be interesting to see what the reaction is, if any, from Le Pen's French political opponents to her demand.
For the most part the public everywhere is unaware of the situation concerning gold. Most citizens are probably oblivious to the fact that their country's central bank have deposited their gold in another country.
I'm glad that politicians in various countries are now going public with demands for the repatriation of their country's gold. It might encourage the citizens in those various countries to take a deeper interest in this.
Somewhat off topic questions for knowledgeable ZHers:
1. If taking gold eagles out of the U.S., do they need to be declared on FinCen form 105? If so, do you declare them at their face value of $50, or at their bullion value?
2. Having taken the gold out of the U.S., how easy is it to sell it abroad?
ONE WORD!
Smuggle
Thomas Jefferson saw the privately subscribed central bank as an engine for speculation, financial manipulation, and corruption. Nothing has changed. The possibility of France getting its gold back is zero, simply because it has all been stolen or rehypothecated to use the jargon. The question is, does the Fed and its subscribers have any gold left in reserve? I think it is already down to its last few bars because the thieves have been desperately scrambling for gold in vulnerable places (Iraq, Libya, Ukraine) whenever they needed to repatriate gold to its owners, or simply told the owners like Germany to fuck off with ridiculous delivery schedules.
Historically, when private central banks were on the verge of being revealed for what they are: A den of thieves, there were two things in store: High profile assassinations and all out wars.
In a Ponzi, he who withdraws his money first leaves unscathed. If all the political heads around the world have not understood the Ponzi of the Fed by now, they are too stupid to breathe. There are over a hundred countries with the major part of their gold reserves in the States and it is going to be interesting to see the printing house of the USA mired in its own bullshit. A list all the subscribers to the Fed, in both foreign and domestic banking will quickly reveal which entities will need to be punished in the unlikely event of the world coming to its senses. One can only hope.
Marine Le Pen:
"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."
Mssr. Noyer:
"Merci! That is just what it says on the Central Bank bathroom wall!"
If the French people do not wish to become an ethnic minority in their own homeland, that is clearly just racism.
But if immigrants wish to retain their language and culture in a foreign land, and to demand welfare and education and health care benefits they never kicked in for - why, that is merely preserving their culture, and what 'diversity' is all about.
Got it?
Jacques Rueff would be proud.
The word is getting out: "If you don't have it, you don't got it."
Am American, not US subject.
I think grand jurys should issue all government statistics. That way zero hedgers will believe it and go back to sleep.
Some of the translation is a bit rough. I believe this part:
"A suspension of any financial commitment or loan contract would wager that our gold reserves."
Would be better translated as:
"Ceasing any financial commitment or contract which results in a decrease of our gold reserves."
I have advised the Department of Defense of the risk of permanent gold backwardation.
@KarenHudesThere is a solution, and we are all responsible for its implementation https://s3.amazonaws.com/khudes/fdod52.pdf
is Le Pen mightier than the sw(Hoard)?????? we shall see...
Let them eat cake!
Be f***ed if they are getting their gold back tho!
Hey, why not take euros instead? Why are you laughing?
With all the repatriation of gold lately, the Industrial Military Complex is going to be busy going after all those "rouge" nations to [loot] rescue from themselves.
Wow. The predators-that-be really are losing their battle to convince everyone on the planet that "gold is an archaic relic". No wonder the SNB is desperate to have that referendum fail, because passage could indeed be the straw that breaks the back.
But don't worry all you central bankster lovers. The predators-that-be have total control of ballot boxes everywhere on the planet at this point, including Switzerland. And so, the predators-that-be will flip the "yes" and "no" counts to assure the referendum fails big time.
I have to admit. It would be a bit fitting if the Swiss people were to start the revolution (that I claim "ain't gonna happen"). I'd so love to be wrong.