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Federal Reserve Confirms Biggest Foreign Gold Withdrawal In Over Ten Years
A week ago, when we reported that in a stunning move, the "Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed", and when looking at the NY Fed's monthly reports of gold deposits by foreign entities, we observed that "we can see that while the 5 tons outflow in 2013 was most likely Germany, the recent surge in gold repatriation from Liberty 33 was the Netherlands. That said, only 77.5 tons of NY deposits gold has been officially repatriated through September, which means the October update, when it comes out, will be a doozy." Yesterday, the long anticipated October update of "earmarked gold" held on deposit at the NY Fed was released, and sure enough it did not disappoint. Declining in dollar value from $8.305 billion to $8.248 billion, this was the equivalent of 42 tonnes of gold being withdrawn, in the process reducing net gold located in the vault of JPMorgan the NY Fed to 6,076 tonnes. The 42 tonnes withdrawal was also the biggest single monthly redemption from the NY Fed since 2001.
So with the 119 tonnes of gold withdrawn so far in 2014, it is now abundantly clear that the "logistical complications" excuse used by Germany to halt its own gold repatriation program was nothing but a lie to cover up what, as Deutsche Bank explained earlier this month, was an escalation of "diplomatic difficulties" between the US and Germany, one in which Germany has folded, if only for now.
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Germany: "We're gonna need a smaller airplane."
Everyone senses the that in the global gold game of musical chairs the music is about to stop, and have started looking for chairs.
Suck'em dry of Gold, Russia and China, and free us of the Fed Reserve Criminal Racket.
Not only will we have an interesting situation in the GOLD MARKET if the SWISS vote YES tomorrow, but we are seeing some fun also taking place in the silver market. Here are two articles worth taking a look at:
SILVER EAGLE & MAPLE LEAF RECORD SALES: Five Times Larger Than 2007
EXCHANGE WAREHOUSE SILVER STOCKS: Large Declines Across The GlobeWe're really fucked now
BECAUSE OBAMA!
But all is well cause fat slob American shoppers are beating the shit out of each other for moar cheap shit from China at Wal Mart
Because Obama? "If voting changed anything they'd make it illegal", doesn't only apply to US elections.
hopefully this is not a grand scheme to STEAL it from some second grade vault somewhere in Amsterdam ...
Even if the Swiss do not vote “Yes,” the fact a large portion of their people understand the Paper Ponzi is very impressive and suspect they will not lie down easily even if they lose.
The Swiss see their banking clients moving to HK and Singapore as Switzerland loses cred.
GOLD Has And Still Rules In Our World.
Deny, Deny, Deny, But All Evidence That "SLIPS" Out Confirms...
The "Backroom Scheming" Goes On 24/7 To Try And Contain...
Butt It's Enevitable... Back To GOLD Standard.
For a "barbaric relic" Gold is certainly in demand.
All That Said... It's Quite Incredible That GERMANY, An Apparent EU Powerhouse(?), Got Fucked Out Of Their "PHYSICAL GOLD"...
Way To Go, MADAME MERCKEL...
AND Nederlands Kicked Their A$$...
Funny thing is, this isn't just indicitive of gold at the Fed, but banking in general. People bring "THEIR" money to the bank, thinking the bank will keep it nice and safe for them. Little do they know, the money is now the "banks" money and the bank can do with it whatever they like, including LOSING IT. Gold at the Fed, held there for other foreign nations is the same thing. You gave the Fed your gold, and they spent it. Good luck getting it back.
beam me up scotty - which of course, you bring you assets to the bank for save keeping, and in fact they lose it. which of course, should be illegal. i think at one time it was. but today, it is not. we need to collectively change this. banks are 'sold' to us as 'safe keeping' your assets.
Funny thing about the 1974 article in the National Tattler where Nelson Rockefeller's secretary Louise Boyer said that US gold had been pilfered by bankers - the accusation at the time was that much of the pilfered gold had been stored in the Netherlands.
So was all of that 122 tonnes of Fed gold really recently secretly shipped to the Netherlands or was that gold already there and we are now then merely seeing desperate gold delivery theater and muddying of the waters / poo-pooing the Germans.
http://abundanthope.net/pages/Phoenix_Journals_61/PJ-86-MISSING-THE-LIFEBOAT-chapter-13-final_printer.shtml
"... DR. BETER IS former legal counsel for the Export-Import Bank and American Gold Association and a widely recognized expert on international monetary affairs.
One of his books, "Conspiracy Against the Dollar", was the culmination of years of investigating the Rockefeller family's financial activities. In the book, Dr. Beter accuses the Rockefellers of attempting to influence and control the economy of the United States.
In the TATTLER article that first reported the "missing gold" story, Dr. Beter flatly accused David Rockefeller, president of the Chase Manhattan Bank, as one of the persons responsible for what he termed "the looting of Ft. Knox".
Rockefeller denied the charge.
It is Dr. Beter's contention that an ad hoc committee made up of powerful persons in American politics and economics has allowed the secret sale of U.S. gold reserves to 13 individuals in Europe. These individuals, he says, are fronting for American speculators.
Dr. Beter charges that billions of dollars worth of U.S. gold has been sold and much of it stored in The Netherlands. ..."
Has anyone ever tried to quantify work/production, and peg currency to that?
Sure, interestingly one recent example was hitler...
We were not foolish enough to try to make a currency coverage of gold of which we had none, but for every mark that was issued we required the equivalent of a mark's worth of work done or goods produced. . . .we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank." -Adolf Hitler, 1937 (CC Veith, Citadels of Chaos, Meador, 1949.)
Yes, the meaning of the vote is significant but the MSM will barely mention it and report it in passing as a fluke of backward people seeking barbarous relics. Krugman and all manner of economists will state that the Swiss are fools.
The SNB has 4yrs to repatriate the gold so don't hold your breath waiting for some "change we can believe in"
There were 193 reasons for the Dutch to receive their gold.
Payoff/hush money.
I believe you are correct. They will most likely only admire it for a short time.
when you say "admire it for a short time" ...
the movie "How to steal a MIllion" comes to mind ...
Brilliant insight. Clap, clap, clap.
As much as I would love to see it happen, I don't think there's a chance that the vote goes through. Too much scaremongering from politicians. Besides, it matters more who counts the votes.
You never know. The Swiss people have been a defiant group throughout history...
what are swiss people?
and what is their language btw?
German, French, and/or Italian, depending on the Canton and Individual.
that explains their defiance, even hitler if not mistaken did not dare attack them ...
i wish we in the United States could learn from them to live together in peace ...
that's because even hitler wasn't crazy enough to attack his own banker.
And Romanch, only latin still spoken.
Yeah, I first came across Romansch when I was about three years old in Graubünden learning how to ski. That wasn't quite the last time I came across it, but those hillbillies are free to have whatever "official" languages they want - it's their Canton. The Trinity thing also sort of fits them. I'll stick to German (and struggle with the plethora of local German-like dialects) and standard Latin, thank you -- because I generally have no idea what those people are saying when I hear them speak (but that might be the point...). The gazillion distinct dialects are useful for identifying outsiders, and figuring out who came from where without a lot of unnecessary small talk and personal details. Of course the frog cantons speak relatively pure surrender monkey, which makes the shibboleths more challenging.
'speak relatively pure surrender monkey'
LOL!
They invited Napoleon in to conquer the place...which interrupted what otherwise would be about 800 years of sovereignty now (and apparently they take it personally when I point that out). All joking aside, they are good people (there's at least one from Geneva and one from Versoix who hang out at ZH regularly and I used to live in Geneva myself, but I really do fit in better over here, and we do a much better job of cleaning up after our dogs). Moreover, they are far preferable to the real frogs on the other side of the border.
However that surrender monkey routine vs. the predominately German and Italian speaking Cantons constantly rebuffing invasion (or the threat of invasion) from their foreign neighbors (fascists in the 20th century and monarchs before that) is one of the big reasons that mindsets in eastern Cantons are not compatible with speaking like foreigners.
You mean just like when the US crooks stong armed them the other day into giving up depositor info?
I suspect chances are the SWISS vote will turn out a NO. It only makes sense when we figure the control the establishment has over the system. HOWEVER, we just might be pleasantly surprised... especially if more of the poor and middle class show up to vote.
This is what the SNB is affraid of. The more of the public that votes, the more chance of a YES VOTE.
spoken like a true politico - either will rain or will be good weather ... either way, I told you so ...
i think there's merit in that. Usually when the poor and middle class dont come out to vote its because they think nothing will really change. With this issue,, many swiss must know this is one bill that will really pioss off the oligarchy, so they may well come out to play
2014 maple leafs are a sweet coin- except for that bitch on one side.
If it is gold, I am OK with the bitch on both side.
But but but but...........
Dollar Deflation will send gold to 100 an ounce and silver will be free, I thought???
This doesn't seem to correlate with the mad scramble for gold and silver world wide, both publicly and privately, now does it?
What's the hurry?
It won't matter if it's $1.00 per ounce if you can't lay your hands on the physical metals... Holding physical when the monetary reset takes place is the goal and the mad scramble is evidence that people know it's coming...
There is such a mad scramble that the price keeps declining and I can buy all I need at the local coin shops. Cabbage Patch dolls Christmas 1983. That's what a mad scramble looks like.
Let me clarify "mad scramble".........
I think the "mad scramble" is in the form of bars at the moment and in the quantity of tonnes, 1 ounce coinage is probably just at the "orderly accumulation" level:)
The reason it doesn't feel like or look like a mad scramble to the "average joe" is because of this little notion of "national security" that we've allowed our governments to go bat raving lunatic, with the use of!
...the #Briiics are stacking like no tomorrow
I have to stack bricks too?
Quick! to the building supply store!
Hey LL, like your thought but quit thinking with your tits and consider the long game. You might want to think about what happens when Russia and China are in control. Might be jumping from the frying pan into the fire.
How the hell does Merkel still have a job? Selling out the German people to the EU and blowing their tax payer dollars on bailouts to foreign countries for the better part of a decade now... folding like a lawn chair to the US on about every possible issue...
She is another political coward. The banking cartel must have a finishing school for these bastards. In America, ours is called Harvard.
Merkel is completely compromised by the NSA spying on her since 2002. Her status as an American vassal was confirmed with Obama bestowing the Presidential Medal of Freedom in 2011. Germany is an occupied country with American and British troops still on her soil and showing no inclination of ever leaving.
Germany Dropping Investigation Into Alleged NSA/GCHQ Eavesdropping on Chancellor Merkel’s Phone Callshttp://www.matthewaid.com/post/103361984911/germany-dropping-investigati...
https://cowpattie.wordpress.com/2013/11/14/angela-merkels-birthday-suit/
This would only be a significant problem in the peurile US.
Not that bad!
Merkel does not have a choice , because Germany is owend by America , if Amerika wants all Germanys money Germany has to had it over , see the treaty signed after the WW11.
She learned well from her political godfather: "Aussitzen"
she is a product of E. Germany
The original question was...
How is she still in power?
to rephrase ,, why the fuck do Germans still vote for her?
Germans are not blind to the lies.. 75% or around that do not believe in official 9/11 story.Why the fuck are they not switching political sides is amazing to me.
Germans see right thru lies beause they saw Pinocios' nose and thought it was a flying Audi !?
Germany and her people have been so de-balled with re-education since ww2, sad indeed, see the plan from "germany must perish"
Jim Willie (who usually refrains from any price target predictions in the metals) believes this is the beginning of a Gold move to $18,000/oz!
Big weekend with the Swiss vote...Friday's take-down is an indication the banksters are sweating...
Jim Willie is a fucking nut! Mind you he hasn't mentioned aliens for a while so maybe the drugs are working!
what #Briiics?....Viva Jim Willie
What better way to start a meteoric rise than dropping 2.5% in one day?
They're still minting it. 25 grand to be a dealer in silver.
Don't know where they're getting it from but certainly is supportive of a super strong dollar.
Took the USA six years to go from not minting silver coins to overcoming Larry Craig and Idaho. Got it done by 1986 though.
Measuring the price of gold against the monetary base is fucking stupid.
I own gold (see my avatar) but I'm realistic about it.
Gold is money. What you call a Monetary "Base" is CURRENCY.
As the value of fiat currencies (Value means UTILITY which is Purchasing Power in regards to currency) are subject to erosion and ultimate destruction, through fraudulent financing then that is not a firm foundation whatsoever.
Now you can be in denial about that. I really do not care if you are.
But, NOT IF, but WHEN the current paradigm crumbles then the value of today's currencies will be worthless.
That Day of Reckoning approaches rapidly.
Have you looked at the spike in Gold Lease Rates? Of course not. Have you considered what that data actually means?
This indicates a ever present growing LOSS of FAITH and CONFIDENCE in the World's Financial Institutions emanating FROM, NOT THE PUBLIC, but from the Financial Institutions. themselves
Check out the chart on Kitco's Home Page...It is actually quite laughable.
http://www.kitco.com/charts/popup/au0030lr.html
Furthermore the Crossovers of both the 1 Month Lease Rate and the 2 Month Lease Rate over that of the One Year Lease Rate indicates the ever growing LOSS of FAITH and CONFIDENCE that the banks will be able to deliver. Interest Rates are an INSURANCE PREMIUM if you have not studied Finance.
(Personally I have not once ever seen that phenomena I previously cited on those charts happen before. It is not to say that it has not happened...But I do not think so...)
Yes the price for Paper Contracts are in decline. This is actually another indicator of the present and ever growing LOSS OF FAITH and CONFIDENCE that the Futures Contracts will be honored. The quoted price from CME Group is One Hundreth of the price of a CME Group Futures Contract, after all.
The VALUE, again UTILITY, of a non performing contract is ZERO. In fact it actually DEPLETES YOUR WEALTH. For instance a Rental Agreement with a tenant who does not pay his rent, a non performing contract, costs the landlord through depreciation of his property with the added costs of eviction. The non perfoming tenant does not appreciate the VALUE of the property whatsoever. In fact he DEPRECIATES IT, Now that is a REAL ESTATE example.
Likewise it is the same with Gold Futures Contracts. When CME Group does not perform with timely delivery of Gold they DEPRECIATE the VALUE of their contract. That is the reason for the decline in price for those contract. CME Group has no Gold to deliver.
The shell game will become apparent and exposed as the quoted price will approach ZERO.
So no. I do not believe that you are being realistic whatsoever. You are in Fantasyland and you can remain there as you wish. Do not let EMPIRICISM sway your "opinion in any way, shape, manner, or form. Damned the Empirical Evidence, right?
Take your trolling elsewhere as the readers here actually read the charts. You may fare better on Yahoo Finance with that little propaganda slam.
Besides. I just used it as an opportunity to inform the readers as to the mechanics of what is going on. Your handlers will be disappointed.
We can start a miniseries. Tall Tom's Tall Tales.
Expanding the monetary base (issuing currency) creates inflation. That is a basic principle of economics.
However, and this seems to be the point on which we disagree, this excess of currency created by QE, which may alarmists like to cite, has not reached the general population. Wage inflation has not occurred. The bottom 99% do not have more excess cash, better salaries, etc., than they did before QE. The excess currency created by QE will sit on the Fed's balance sheet, and not affect the economy at this point in time.
If the T-Bills and MBSs are not held through maturity, and are sold instead, then we will see true inflation and the price of gold will rise accordingly.
The last thing these crooks want is for the "little people" to cash out their fiatscos for gold.
How else could the BLOOD SUCKING BANKSTERS continue to parasitize their productive work, resources, and land? No, it is easier to manipulate the paper price thereby preventing price discovery and flood the msm with anti gold articles.
In the background the truth remains constant. The pensions, ss, iras, medicare and all the other promises are a BIG FUCKING PONZI. Green spit was actually honest when he said the US wouldn't default but rather pay pennies on the dollar.
GREENSPAN THE US CAN PAY ANY DEBT BECAUSE IT 'CAN ALWAYS PRINT MONEY'
https://www.youtube.com/watch?v=jB0lcX-GtOU
'Parasitize'
Love it! That one word goes hand-in-hand with 'banksters'.
I wouldn't be surprised if some day we're told by GOVT that the terrists have perfected counterfeiting FRN's.
Therefore, all FRN's in circulation must be turned in at a Goldman Sachs Redemption Bureau by a certain date for something new and more patriotic.
Scrip change. Frequently done.
Germany needs to produce more BMW M5’s to ward off the Zionist Pigs. Smoke and gas kills their agenda.
http://www.youtube.com/watch?v=9u8OWS4g8XM
I wanna know where da gold at!
https://www.youtube.com/watch?v=IGYaFMFU63U
8 billion total! There are pimply-faced kids that trade that much every month. That is a fucking rounding error at JP Morgan. Let me know if gold ever breaks free of the manipulation enough to be financially significant.
CHECK MATE!
ya'll now everything thats been goin on in the phony paper markets of the only 2 forms of real money every since 08' has been nothing but bullshit...
desperation on behalf of the MoneyChangers to preserve the system that they created to bleed mankind blind..
DEATH TO THE MONEYCHANGERS.
Trust but verify, turning to blatant mistrust. It's about time.
Tyler, 57.5 tonnes year-to-September should read 77.5 tonnes.
biggest game of musical chairs ever-
I can see the bullion ads now: when the music stops, where is your gold?
Gold price should go up $100 @ ounce , for every tonnes removed.
Why? It was not a US asset but was merely being stored at the Fed...
Agreed. No money is being made. Just moving it from A - B.
The German public is smoldering, and Merkel and her crew are faced with a crisis of legitimacy. Repatriation of their gold is a matter of German sovereignty in the coming years, and the Fed's refusal is a potent symbol of German humiliation.
How and when this will burt forth is unknown, but it will.
It seems official: the Bundesbank can not get back their gold
11.24.2014 | Prof. Dr. Max Otte
Poor Google English translation from the German GoldenSeiten.de
https://translate.google.com/translate?sl=de&tl=en&js=y&prev=_t&hl=en&ie...
http://www.goldseiten.de/artikel/226461--Es-scheint-offiziell~-die-Bunde...
Holland got its gold back because they have the MH17 Black box. Now that's political leverage !
and how did he get his hands on it?
Holland and "The Netherlands" are two names for the same Nation.
It is just like America and the United States. Persia and Iran, Bombay and Ceylon,
Or, in the case of cities, Peking and Beijing. Or Instanbul and Constantinople.
Hollande is the name of a Finance Minister. The spelling of his name has a silent 'e' at the end.
'India imported about 102 t gold in the first half of Nov...suggests import of the precious metal will surpass Oct. record import of 150 t' willem middelkoop
India is buying at a furious pace as are China and Russia. Meanwhile, the Fed is attacking gold using high frequency trading. The cost of gold is approaching the cost of mining it. Deflation cannot be allowed for long as it will crush the high-debt economies of the West. So more printing and a move to inflation is the next logical move. The price swings in gold will grow larger and ultimately the price will break to the upside - but that could take years. Or it may happen soon with a Japanese bond market collapse. Who is crazy enough to hold Japanese bonds that pay negligible interest even as the currency collapses by 15% in just the last 3 months? If you are Japanese, you are insane not to have some gold to hedge your wealth.
India has scrapped controversial restrictions on gold imports that have triggered a spike in smuggling and crippled the country's jewellery industry.
On Friday the Reserve Bank of India reversed rules that force agencies importing the precious metal to set aside a fifth of all shipments for re-export, reports Avantika Chilkoti in Mumbai.
The restrictions were put in place in the middle of last year as a currency crisis swept through emerging markets and the Reserve Bank of India scrambled to control the current account deficit.
The move comes despite the recent increase in gold imports.
Official data show gold imports reached 106.3 tonnes, or $4.2bn, this October, almost four times the shipments in the same period a year earlier.
India overtook China to regain its position as the world's largest consumer of gold in the third quarter of this year, according to the World Gold Council, with demand reaching 225 tonnes in the three-month period.
http://www.ft.com/fastft/243352/post-243352
Germany is still occupied by the Allies.
Along with Gladio operatives, the current US force structure could take over Germany, albeit silently.
"US force structure could take over Germany", it has been taken over, Merkel is now taking orders from the Emperor and following them perfectly.
Germany forfeited its gold when it lost the war, it continues to exist as an occupied nation which will NEVER get back its gold. Its biggest financial institutions follow their orders from NY Fed.
Holland fought with American forces and has been given its gold back.
European Union and Nato are now, sadly also following orders from Wasgington DC. How long before Putin is destroyed? Or will he make a fight of it?
The Russian regard Obama's linking of Russia with ISIS and Ebola as a effectively a declaration of war. Putin has also stated Russia will not allow the Russian speaking people in east Ukraine to be exterminated by the Nazis. He is also looking to reduce the influence of the fifth column in Russia. Their support for these Nazis makes that relatively easy.
Does that answer your question.
The Russia's Ministry of Defense new defense doctrine states that any NATO attack on Russia will be reciprocated by the nuclear attack on the aggressor's territory (the US). No ifs, or buts...
+1 for the comment but i am going to be really pissed off if someone calls you Sam.
"European Union and Nato are now, sadly also following orders from Wasgington DC. How long before Putin is destroyed? Or will he make a fight of it?"
The Americans would be mad to even think fighting the Russians. They would never win.
The idea has occurred to other megalomaniacs, and they lived to regret the adventure.
the American behaviour is disgraceful and the EU are proving to be a nice little ankle biter. Idiots.
Its not americans that want a fight with russia
It might be dual citizens starting it, but the average moron is only too happy to go along with it.
Try asking a few people at random what they think of Putin. It's pretty disturbing how fucking deluded people are. "The antichrist" is the usual answer.
And the goal is not winning, but destruction...
the whole world will be a radioactive smolderin' heap before vlad is destroyed; count on it.
Bring it on...lets rad baby!
I'm thinking we microwave the Kremlin for openers
I read that as "Germany is still occupied by the Aliens" WTF: Christ that made me sit up straight!
in theory anyway, each time some rehypothecated gold is redeemed, and the chain of contracts is broken the price should drop which is exactly what is happening. physical gold becomes more scarce, and the price goes lower, (this is consistent as well). so we know whats happening, and our guess as to what the effect should be seems to have been verified. now that gold becomes more scarce, and more valuable, the rational thing to do is buy using fiat currency, which is what the CBs are doing. net net, that should cause a lot of inflation unless of course the shortage spirals into a black hole of sorts, where there is no gold at any price. then the(ir) world will end.
each time some rehypothecated gold is redeemed, and the chain of contracts is broken the price should drop
Explain, pls?
Thx.
leverage, hypothecation
A huge number of positions have to be liquidated.
rehypothecated means the gold is sold, to someone who in turns sells the gold again, to someone who in turn... its fractional reserve banking for PMs. we really have no idea how many times the gold the Fed was holding was actually sold, but when the gold is redeemed the chain is broken. now the bankers in the Netherlands can reset the contracts, and it might be they felt they werent making enough off their gold.
when you open a checking account at the close of business the banks sweep that money into an overnight which they can use. your deposit is lawfully considered a loan. why would the Fed want to hold everyone elses gold? to make money off it. the amount of gold paper far exceeds the amount of real gold held just as the assets of Treasury and Fed far exceed the amount of real cash (which can be printed, gold cannot) bottom line though is that despite appearances, the Fed wants higher asset prices. their job is levitating assets prices, so they want gold to higher, this is why at least for the moment paper assets keep going up with real assets are falling. that can not continue indefinitely as the paper assets eventually get marked to market.
I'll swoop in for a guestimation...
because the buyers come face to face with the issue of the contracts being ultimately redeemed in paper, perception of value is diminished, thus reduced demand of paper AU and lower price.
If you don't want PM's maybe this is for you:
Paraguayan sources have confirmed that George W. Bush recently bought 42,000 hectares (over 100,000 acres) of land in Paraguay's northern "Chaco" region.
The land, near the town of Chaco, sits atop huge natural gas reserves, according to sources in Asuncion.
Moreover, the land deal was consummated in a dinner meeting between Bush's daughter Jenna and Paraguayan President Nicanor Duarte.
Although Jenna, who was in Paraguay under the cover of a 10-day UNICEF trip to visit child welfare projects, put the Bush family seal of approval on the land deal, the actual legal papers were worked out by Bush family lawyers and business representatives. Jenna Bush is supposedly working for UNICEF in Panama City.
The Bush land is close to a new U.S. military installation, the Mariscal Estigarribia Air Base.
Article IV - Treaty of Extradition between USA and Paraguay. Signed November 9, 1998.
Bases for Denial of Extradition
1. Extradition shall not be granted by the Requested State if the
offense for which extradition is requested is a political offense.
How handy is that?
http://www.state.gov/s/l/treaty/tias/120094.htm
Very handy, now that you mention it. Good find/followup.
he bought the property before he left office, some thought to be a destination in exile. (he moved to dallas instead) still not sure what obama gets out of this, (i know some people say he blames bush, but i dont here that, and he hasnt had any problem continuing the bush wars, the bush fed chief, and now the bush immigration policy) better question what does goldman get out of it
The wise act.
Chat_noir....Get your fucking trolling ass and the others in here!
You got some 'splaining to do!!!!!!!
Sergeant Schultz: "I see nothing! I know nothing!"
https://www.youtube.com/watch?v=UmzsWxPLIOo
I can't help but wonder what month in 2001 was the last largest draw down of gold. It's probably nothing.
My question: Why does it seem that all nations store their gold outside of their own country?
America was seen as the safest holder due to its strategic location and military, but the henhouse is now guarded by the fox and so the inevitable! Countries are asking to remove their chicks from Foxy Brown's protective care.
Not to mention that the US was a very large gold holder, so there was plenty of US gold that eventually ened up being owned by other countries, and we kindly offered to store it for them rather than transport it. Remember when FDR took the US off the gold standard, it was only for the plebes, nation-level actors external to the US still go paid in shiny.
So the US went bankrupt, took the citizen's gold, and gave it to the foreign creditors... then WW2 broke out and those creditors needed to pay for weapons and later for rebuilding so the ownership went back to the US, all without the bars moving.And then counties worried about invasion in both WW2 and the cold war shipped it over for "safekeeping" (ha.) So essentially for multiple reasons the US became the largest repository for gold.
It's what happened when we shifted to a net importer where this story gets really interesting, and why we're talking about gold repatriation today: nixon closing the gold window, oil imports, financialization etc. I'm really hopling like when east Germany fell that post-collapse-US the whole story comes out of where the US gold went to and why.
My understanding to is that a lot of the gold 'redeemed' at 35/ounce to foreign holders of US dollars, that gold was given to the foreign entity in paper only. IE, the dollars were redeemed for US treasury (ft Knox) gold, but the gold was kindly held at the US fed rather than shipping it back overseas. So essentially out of the over 20000 tons that we used to have, much of that gold was transferred to foreign govts in paper only, when the actual bullion merely went from the treasury to the NY fed, where it is allegedly being held in 'safe keeping' for these foreign govts. In reality, much of us gold really transferred to the fed, who then did who knows what with it. it's probably been sold off to keep a lid on the price, since overall purchases have greatly outpaced mine production. But much of the gold owned by foreign countries, at least as I understand it, came from redeeming dollars at the fixed 35/ounce. So basically through this process, the fed ends up with physical possession of much of the former US treasury gold. And even if nations want to sell any of this gold or transfer it amongst themselves, they are just moving pieces of paper around. And since all the gold in the fed, rather it is there physically, or loaned, or leased , or whatever other bullshit word they call it, it's all counted as one number. There's no telling how much physical gold they actually have. I'm guessing not a whole lot.
Interesting that the fed is privately owned, then.
The Fed's relationship to gold held by the US is strange to say the least.
All due to using the civil legal system to circumvent the constitution.
Thx for the succinct addendum.
To extend the logic of your summary, have the same governments of Europe that historically retained their gold abroad as safe-keeping from being stolen by the forces of Continental Fascism and Communism now concluded that the predatory threat they sought to evade in Europe has infiltrated and seized the American Treasury to such a degree that having Putin on their doorstep is a lesser concern?
If Ukraine's gold had been in NY there would have been no need for it to leave the country in the dead of night!
Well...it's home now....(No better example of what Putin is up against)
USA bribed politicians or make puppets and stole gold - simple
"Let's be partners. Here. Put all your marbles in my bag and I will look after them for you."
It was a security issue.
It also once made international gold transactions easier - just move from one section of the vault to another.
It's even easier with paper gold. You just have to move a piece of paper from one filing cabinet to another. The upside is that the physical can be sold - sorry 'leased' - to third parties to bring in some profit.
Paper fiat bag holders are about to feel a lot of pain as more nations flee the dollar and/or as the dollar loses its global reserve status.
The currency war is coming to a head. It looks like we will have gold backed currency in 2015. Whether it is the Euro, Ruble, Frank, Mark, Yuan Renminbi, it won't be the USD, the race is on. The West has lost the sanctions war against Russia and Iran, the gloves are coming off, nothing like a bare knuckle fight/war, our skinny Emperor is going to get his ass beat badly again. I buying more gold today.
Maybe some overseas entity will play the COMEX card and force them to shut down due to not being able to deliver on all the physical PMs.
I believe prospectus allows for all settlement in paper. Some folks will have a chair and get the real deal, but it won't be you or me.
Settle in paper and shut the thing down is likely the end game...yes? Soon? Not likely. This can go on for a while yet.
I sorta wonder what would happen of the $US went gold-backed. They lie about everything else, why not gold holdings? If it never leaves the country when redeemed, it's always stored here, then it would seem an easy charade to carry off for these malevolent fucks.
So if the gold is actually in the vault at the NY Fed why didn't they ship it all at once, or say 20 tonnes a month over 6 months? It looks like the NY Fed simply maintains an account and has to go out and find some gold when a country wants its gold back. Who knows where the gold sent to the Netherlands was sourced from? Maybe when Germany wanted its gold back the NY Fed simply could not find nearly enough gold to satisfy the demand. It is just like a bank which physically holds only a limited amount of paper money and can not give you your million dollars when you show up and ask for it.
their bank can ALWAYS give you your money, they just have to wait until the ink is dry
How to manipulate price of phyzz:
Sell gold. Steal it back again.
How to hide manipulation of price of phyzz:
Sell gold to your enemies. Invent reason to invade. Steal it back again.
I speak from a position of ignoramousness. Feel free to show me the error of my ways.
This is why the "total" gold tonnage worldwide can never be accurately defined. How much was stolen during WWII from Asia And Europe? Where did it all end up? How much circulates among the triads, yakuza, mafia, South and North American cartels? How much has been siphoned off by the Vatican, Bush Crime Cartel, Mossad, CIA, Rothschild Empire, etc.?
The only thing we know for certain today is that gold is going back into hiding and will be a major player in the future.
If the federal reserves claims 6,000 tons of gold, how many tons of gold are claimed to be stored at Fort Knox?
It's more likely an information/data center, or a storage facility for chemical/biological weaponry.
With the amount of (mounting) debt & deficits this nation has, our leaders would be proud to facilitate an audit - or perhaps even a media event to show the world that we have something of value backing our market, IF we really had anything to show... The lack of said, says it all. It is not a complicated matter to sort out the solvency of the United States government.
If gold was nerve gas then yes.... Fort Knox is full.
Getting ready for the largest US public financial screw-job in Federal Reserve history.
The sheeple are prime for fleecing.
I hope when the music stops they start smashing each other on the head with the chairs. Screw these criminal banks.
When the music stops, all the four remaining players (USA, UK, Germany and Fance) will find themselves sitting on the four corners of an upturned chair courtesy of either Mr Putin or a world that they cannot any longer manipulate.
Merkel has been blackmailed. She has been bugged. She has been forced to damage her nation's economy through adopting US sanctions. She hasn't demanded the return of gold, she puts up with a large foreign US presence in her country and yet she strangely accepts all these things without flinching. She has been blackmailed and I am willing to bet a pretty penny on it.
It's a bet I wouldn't throw down against... Germany's 'allegiance' is the lynchpin of U.S. foreign policy - and by extension, the Wolfowitz doctrine - which Is our De-Facto foreign policy for the East, and by all practical purposes, the entire globe.
I disagree, Germany has never been a sovereign independent nation after losing the war. She knows the score, she will never rock the boat. One day, maybe, the german people might rise up, but it is such a conservative nation, I rather doubt it.
True. My state governor has more authority than Merkel.
If she is being blackmailed, it's not by that old nude picture. She looks quite fuckable there, in a horsey sort of way. Janet will weep with envy.
aaaaaaaaaaaaaaaaaaaand this means what ??? so they move " their gold " to another one of " their banks" and this is suppose to mean something ?
Its not YOUR gold and never will be .... debt Slaves !!
This gold was leased, rehypothicated and used as collateral for derivatives by the bullion banks when it was at the FED. Now all of those contracts are broken. In addition, the ability of said bullion banks to create more derivatives with gold collateral has diminished. Also add in reduced global credibility and the very real possibility that more CBs will demand their gold repatriated and you have a big problem for the FED and the bullion banks.
Why would I believe ANY figures put forth by the Fed?
They just printed over 1 trillion dollars in 8 weeks to pay off existing debt.
Why would I believe ANYTHING these people have to say?
And even if the FED had 7000 tonnes of gold, that still amounts to less than one ounce per head of population. That is how bankrupt the US and the rest of the world really is.
My bet is that Zero Hedge readers in reality have more gold and silver in total than the FED.
"That is how bankrupt the US and the rest of the world really is."
Indeed. Be your own central bank.
Indeed my friend. We already are.