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A Tidal Wave of Gold Repatriations Could be Unleashed
Nathan McDonald for Sprott Money
A tidal wave of gold repatriations may have begun. As speculated in my last post, I raised a concern that should be shared with all western Central bankers…a widespread flood of countries demanding their gold back to their home soils.
Thisnotion sounds logical to any sane individual, but to a central banker who is gold negative, this is their worst nightmare. To understand why, you need to step back and see the big picture, which shows the stark reality of how rare gold truly is and how little of it remains in western vaults, despite what the mainstream media would have you believe.
First it was Germany, then it was the Dutch. Soon it could be Switzerland depending on the results of their gold repatriation referendum, which central bankers are nervously awaiting the results. Now, there is France.
There is a strong possibility that France, which is currently part of the problem, could become an ally of the gold community going forward.
Marine Le Pen, the leader of the French right-wing Front National party, and who is currently leading in preliminary polls, ahead of president Hollande, wrote a letter to the Central bank of France, which detailed a list of demands.
These demands have set central bankers on edge, as they are anything but friendly to their current fiat power structure and which include the following:
- Urgent repatriation of all of our gold reserves located abroad back to French soil
- 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 (with a recommendation of 20%)
- A suspension of any financial commitment or loan contract of our gold reserves
- At the patrimonial and financial balance of the 2004 gold sales transactions ordered by N. Sarkozy
Given the current polling numbers, there is a strong possibility that Marine Le Pen and her party could be elected into power. This letter indicates how she feels towards gold. Clearly, she does not perceive gold as a barbarous relic.
Given this fact, you can expect a strong, organized effort to discredit and bring her popularity down. Western central bankers know how fragile their current fiat system is. Their power rests predominately in their ability to print endless amounts of funny money out of thin air, and gold is their Achilles heel.
The double whammy of a YES vote in the Swiss gold referendum and the repatriation of Frances gold from the NY FED, will be more than what the current manipulated system can handle. You will see widespread shortages of gold as the FED “attempts” to fill in the holes that they have drilled in their vaults throughout the years.
Remember, France is no minor player in the gold market scene. They “officially” hold the fourth largest gold reserve in the World. We aren’t talking about a couple of tons, we are talking about thousands of tons!
Given the monumental demand that the recent price drop has ushered in, the continued accumulation by Russia and China, and now the rapidly unfolding gold repatriation demands of Germany, The Netherlands, Switzerland and possibly France; gold seems poised for a comeback.
The question is how long can the manipulators keep their boat afloat? Leaks are springing up in all directions and they are running out of plugs. The rising price of gold is a tidal wave that no one can stop. It is only a matter of time before the free market unleashes itself and sets the price free. Until then, sit tight and continue to be right.
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Read somewhere that before the IMF gives a handout it requires possession of that countries gold.
Hard to tell if the music is just slowing down, or has stopped.
"We confiscated some folk's gold": Ukraine's gold has disappeared, Libya's gold has disappeared, Iraq's gold in Mosul disappeared. Egypt? Afganistan? Is Syria next? Greece? Cyprus? Do we know where all this gold is? No. The Dutch might want to be very careful where they put that stuff.
Of course the great confiscations happened in WW-II. The USA (and probably the Russians) got the Nazi gold. The Japanese scoured China for every ounce they could find and vaulted it in the Phillipines. Some of that gold was returned to mainland Japan, but in either case, the USA took all of it. At the end of the war we had 25,000 tons officially, with wispers that we actually had more, but chose to keep it as a secret slush fund for the CIA to influence folks. As Europe recovered after WW-II, they ran a trade surplus with the US, which they were able to exchange for gold. The gremans remained a vassal state and kept it all in NY. The French got cocky and started repatirating their gold, which caused Nixon to close the window. However, there are 14,000 tons of foreign gold still at the NY Fed, which when added to 8100 tons held by the Army at Ft. Knox and West Point comes to 22,000 tons, almost all the gold we had after WW-II. And as Jim Rickards said: possession is 9 tenths of the law.
Canada CB Had 25 Million Ozs GOLD And They Outright Sold It ALL...
They Must Be The ONLY G8 Nation Without ANY CB GOLD Reserves.
Just Imagine If CANADA Were FORCED To Buy 900 Tonnes Of GOLD On The Open
Market Just To Get Back Into The Game...
http://www.miningglobal.com/top10/811/Top-10-Gold-Producing-Countries-in...
We leave it in the ground mostly, up to our necks in the stuff.
And this..
http://247wallst.com/special-report/2012/04/18/the-worlds-most-resource-...
The author left out the Venezuela gold repatriation that took place and the demand for Greek gold to secure a bailout.
The Greeks have so far never confirmed that their gold is still there.
THERE. IS. NO. GOLD. TO. REPATRIATE.
For the French gold a repatriation would be marginal: it is nearly in its totality already in France.
True, but that letter was the most intelligent and intelligible gold policy I've seen put forth by any public political official to date.
(I don't usually say nice things about the pedophile Catholic frogs who occupy the dirty crime ridden western cantons of Switzerland, much less the French in France)
GIve your gold to the buyer before he gets hold of rapatriated gold... when he's filled he doesn't need your gold anymore
Musical Chairs... Musical Gold.. who has the Gold.. Bring it on.. let the Game Begin..
as my father used to say, those who look rich aren't necessarily Rich and those who look Poor aren't necessarily Poor
Is Die Bold counting the referendum votes in Switzerland?
Anyone on ZH who lives in Switzerland can go and observe their local count on Sunday (at least where I live... out in the 'burbs). The citizens handling each ballot or keeping the official tally are designated before hand.
Guess what I'll be watching Sunday... (certainly not American football)
No. It will be Herr und Frau Müller.
Why do we still live in the illusion that voting does anything??????? Switzland has already been occupied by the anglo/american fascists and over their dead body would they let this gold vote go YES.
I'm not holding my breath for this BS theater. I believe it when I see it. VOTING is a good idea but people always forget the RIGGED COUNT!
It's not always rigged... Eric Cantor, the Anti-Euro parties, and all of them Dems who just lost... there's lots of things that happen that shouldn't.
Voting still matters... they want you to keep thinking it doesn't so you won't do it. People spread this nonsense and it only discourages more people from voting making the issue worse and better for them...
Think about it.
Just thought about it.... now show me what good it has done and what good it will do now that Boehner and McConnell are the head dicks in Congress? They already both said they cannot do anything about such anti legal moves as writing laws from the Executive branch....
How did the vote matter again?
I am listening.....
Good old gold is simply gold
If LePen wins outright or wins a consensus on the demand by a French ruling coalition ti repatriate the gold, and if, as seems likely, the Fed cannot or will not deliver, will France back down the way Germany did?
If so, what then? What does that do to France's credit?
If not, what then? What power does France have to extract from the Fed the gold it can't produce?
The only thing left to do might be to tacitly admit the gold is gone, and start urgently trading dollars and dollar-denominated paper for physical gold. Which could quickly become a race for the exit.
At what point do the holders of the actual gold that's nominally at the base of the pyramid scheme admit the game is up and put that on the market too?
At what point do the holders of actual gold admit that the game is really seriously up, and refuse to sell gold for dollars at any price?
And what then does the Empire do with its vast global military machine, when nations, agents and soldiers won't take dollars?
When the reset comes, the Empire will rugently have to reclaim and disencumber its gold to back a new currency, and try to lay hands on enough to remain the dominant player. They will inevitably resort to confiscation - from their corporations, from their citizens, from each other! Laws, contracts and solemn promises will mean nothing in the ensuing titanic struggle of ruling elites with each other for survival.
Arguably this has already begun. Exhibits: Ukraine, Libya - and Canada! Countries with major gold holdings but minor military machines like Venezuela, would seem to be in extreme danger. Posession of gold may require posession of nukes, or a strong alliance with a nuclear power, which may require surrendering gold to them.
The people of the world need to find another scenario and a way to win it. This one will not end well for us.
If the Feds won't produce metal then each day France sells 1% of the paper gold held for France by the Feds and immediately spends the money purchasing gold metal.
If (hah!) that drives the price of gold metal up then the next day, when the next 1% of French paper gold is sold it is sold at [i]yesterday's[/i] price for gold metal. Always a day behind on the price, but in the end only 1% of the gold is lost to the indirect dealings. If the price of gold goes sky gih, well so what, they end up with 99.0% of their gold and at a high valuation.
Sadly, never gonna happen.
PTB control the sheep, be they Scot, Swiss, or Murican. And sheep are for fleecing and then eaten.
But I hope I'm wrong and the Swiss kick some ass.
Lets help out the process: sign the below petition : "Restore Canada's Gold Reserve!"
http://www.thepetitionsite.com/405/184/709/restore-canadian-gold-reserve...
I believe all those countries will soon find that the gold they are requesting, like America, does not belong to them but to the central banks and is no longer owned by nation-states of the NWO. The politicians of what used to be called nations long ago signed the rights to the gold over to the central banks i.e., Goldman Sachs.
The myth of a monolithic world ruling class controlled by a single cabal of bankers, while a big step forward from the schoolbook version of history and society, is still a mirage, one that serves to keep us passive. It posits unity of the top predators, a kind of global Cosa Nostra able to police itself indefinitely - an unlikely scenario in a failing system built on greed and fear. The only thing that ever united them for long was fear of communism. Now that fear has been lifted, the Empire's claim to leadership has evaporated, and the thieves are again turning on each other.
Q99,
Bernanke said the FED does not own any gold.
"they" tried to kill Andrew Jackson; had a hand in killing Lincoln; most undoubtedly financed or helped plan the Kennedy assassination, and I'm sure were responsible for the deaths of many other sovereign leaders and politicos who dared to question "their" control of money and power.
If I were Marine Le Pen, I'd be a tad concerned.
sell the news
if the swiss say yes, you have a last chance to sell at a decent price for the next years to come.
gold is going back to 700 before the uptrend resumes
I thought it was $600...
Mr. Silver himself David Morgan says gold is going to $10,000 an ounce.
https://www.youtube.com/watch?v=IGYaFMFU63U
Maybe the French will save us.
That would be so Contrarian Funny....
Wars have been fought over less.
What this article forgets is that European Central banks always cooperate on gold, either through the BIS venue or via their membership of the ECB.
When the current monetary system falls apart do you believe the Bank of International Settlements and the European Central Bank will survive? For that matter do you think the EU will survive? Germany has got to be tired of being the engine of the union. How long will the German people put up with sanctions against Russia- an important trade revenue that is being missed. The U.S. is not the same nation it was at the end of WWII. The greatest creditor has turned into the greatest debtor. If something like the 9/11 official narrative is finally rejected by enough citizens worldwide the U.S. will go into a tailspin. The great unraveling could lead to war but citizens of all nations are waking up to the fact that the ruling elite have more in common with each other than they do the rest of us. The word of the coming century is decentralization, in my opinion. The New World Order desired and already designed by the elite is going to crash and burn. They have no one to blame but themselves. They pushed too far- citizens are just beginning to push back. The next few years are going to be exciting.
do you have any historic precedent of a "monetary system falling apart" which is the base of your point?
Zimbabwe managed to destroy it's old currency. have a look, it's national bank is still there. it's main concern is now foreign currencies
meanwhile, what has the EU to do with the "current monetary system"? what does the EU? regulate products and services. and pretend to be more then that
there is a real economy out there. it clothes and feeds and shelters billions. don't mistake the engine for it's various optional turbo-chargers, like the current financial system
of course the elites have more in common with each other then the masses. that's why they are the elites. the very day the masses have the same in common with each other, we would stop having elites and non-elites
Is that first sentence of yours a serious question or are you just being sarcastic? My question back to you is multi faceted but let me start with "What fiat currency throughout history has EVER survivied?" <--- Name ONE!
Here is a bit of history but the first fiat currency (if you care to do some history research yourself) was around 500ish BC with the Greeks. Interesting bit of history on the first known case of "Printing Money". Here is a link that (if you were serious about that first question of yours) will help you do your own research to learn about what is really going on right now with the CB's and the manipulations of virtually ALL MAJOR currencies and what I and many others believe is an inevitable collapse (sooner than later)!
http://dailyreckoning.com/fiat-currency/
Making blind statements out of ignorance is one thing but refusing to see the light right in front of your eyes is another......
Take care and happy learning.....
Mikey
As to your first point I have no historical reference of what happens when the "monetary system falls apart." However, your point regarding Zimbabwe is not applicable as it was not the world's reserve currency, the U.S. currently has that status. I do know that when it became obvious to other nations that the U.S. was creating more fiat than it had gold to back it there was a push to dump dollars and redeem them for gold- I think at $35.00 an ounce. When Nixon closed the gold window (for fear of running out) the U.S. was on firm footing with the military might to keep things together. Now we print, Japan prints, the EU talks about printing- the point is citizens are wanting their gold back to their nations. France, Germany, Netherlands, Switzerland are not working together to get their gold they are working separately. If a nations' people begin to say the hell with the other nations- let's get our gold, let's take care of our people the elite will be forced to separate to remain a viable political leader. It is in the people's best interest to keep the people who gravitate toward power positions apart. Globalization, if left unchecked, will find few thriving and many struggling. Decentralization will even the playing field. Central bankers have pushed the system too far by not regulating the banking system. This lack of oversight and demand for compliance to laws is destroying the very system they once profitted by. They have killed the system and the people are ready for change. There is no precedent for the times we are in- that's what makes it exciting.
ghordius, welcome back...I see PM's as a way to circumvent taxation and debt fiat systems..you i know are in love with paper euros..you have the whole economic system behind you, I like the american west of old have only my freedom and skills to make my way ..you have your state and your laws and your elite to pave your way and it goes right to hell.
Update to my last Swiss Gold Vote comment:
My Swiss GF was unsure (thinking it's too radical) and was siding on the NO side for the Swiss gold vote.
After thoughtful consideration yesterday evening however, she finally voted YES.
Bring it home Bitchez
Most have voted already; you usually go vote on Sunday morning only if you've forgotten to mail your vote in (you have until Friday 18h to send it). The Yes campaign was quite vocal, every household in the Canton I live in (and probably elsewhere too) has received a very well written 5-page "newspaper" explaining the ideas behing the initiative (Austrian economics, Bretton Woods, SNB lies since 1992, German repatriation, etc.). And everyone who votes receives with the bulletin a booklet where the initiants explain their position and arguments. And the arguments just so happen to be compelling.
Headwinds are that the whole establishment (all major parties, Federal Council, EconomieSuisse, the SNB, etc.) all reject the initiative (and have voiced their opinions in the mainstream media). Swiss people mostly trust their institutions, although not on all issues (e.g. immigration recently, UE, etc.). Anyhow, there'll probably be a linguistic divide (German speakers tend to accept "populist" initiatives such as this one more frequently; they're the ones that saved the country from joining the UE in 1994).
We shall see.
That "very well written 5-page newspaper" was the only piece of election propaganda that made it past the "Keine Werbung!" sticker on my home mailbox this cycle.
I don't like crap in my home mailbox, or anyone who disrespects my cleary stated wish not to waste their propaganda (and good paper) on me, that's why I use a postbox.
Early results will be available on Sunday afternoon on www.rts.ch (French), www.srf.ch (German) and www.rsi.ch (Italian). They will probably be also available in English here (Swissinfo).
I wonder how many Swiss have voted already (postal vote) - and are now discovering that one who acts in haste may very well repent at leisure.
Where is proof that foreign sovereign gold vaulted at the NY FED is no longer there?
"Where is proof that foreign sovereign gold vaulted at the NY FED is no longer there?
That's what we are about to find out dumbass.
If the German gold was there and freely available, why didn't the Germans get it back upon request? It could be there, and it could not be there, kinda like Shroedinger's cat. In all likelihood, it is being leased out and rehypothecated similar to other banking scams such as fractional reserve lending. If this is the case, it is as good as "no longer there" because the request can not be honored to the true owners of the gold.
the american public is slowly becoming very dissatisfied with the new police state..not just getto kids but the middle class kids see freedom being taken from them and injustice of how police and judges treat the rich and powerful while shooting kids in the street like dogs..with unemployment and lowered living standards staring them in the face while they try to pay off massive education debt..what does this have to do with gold? well gold is something they can turn to, to try to avoid the massive tax and debt system proping up the .gov and the elite banksters, who they hate, gold keeps wealth from the state, that is why central banks and .govs hate it..and that will never change.
But that's not the issue. The issue is how many entities each think they own the gold vaulted there.
But you already knew that.
We rapatriated gold for some volkes.
Keep hearing that 20%...back reserves by 20%... so much so it's almost as if... it's been decided.
Anyone have the figures available on the price of gold in dollars if the US actually has 8K tons (not hard to do, assuming you just steal all the gold you've been safeguarding) if you divide the number of dollars in existence by said 8K?