Federal Reserve Confirms Biggest Foreign Gold Withdrawal In Over Ten Years

Tyler Durden's picture

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 Declining in dollar value from $8.305 billion to $8.248 billion, this was the equivalent of 42 tonnes of gold being withdrawn, in the process reducing net gold located in the vault of JPMorgan the NY Fed to 6,076 tonnes.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So with the 119 tonnes of gold withdrawn so far in 2014, it is now abundantly clear that the "logistical complications" excuse used by Germany to halt its own gold repatriation program was nothing but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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Cacete de Ouro's picture

Germany: "We're gonna need a smaller airplane."

So Close's picture

Everyone senses the that in the global gold game of musical chairs the music is about to stop, and have started looking for chairs.

Latina Lover's picture

Suck'em dry of Gold, Russia and China, and free us of  the Fed Reserve Criminal Racket.

SRSrocco's picture

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:






Headbanger's picture

We're really  fucked now


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


Harbanger's picture

Because Obama? "If voting changed anything they'd make it illegal", doesn't only apply to US elections.

Arius's picture

hopefully this is not a grand scheme to STEAL it from some second grade vault somewhere in Amsterdam ...

847328_3527's picture

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.


BaBaBouy's picture

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.

ebworthen's picture

For a "barbaric relic" Gold is certainly in demand.

BaBaBouy's picture

All That Said... It's Quite Incredible That GERMANY, An Apparent EU Powerhouse(?), Got Fucked Out Of Their "PHYSICAL GOLD"...

AND Nederlands Kicked Their A$$...

Beam Me Up Scotty's picture

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.

lotsoffun's picture

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.



Pinto Currency's picture



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.



            "... 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. ..."


Ass Burger's picture

Has anyone ever tried to quantify work/production, and peg currency to that?

nidaar's picture

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.)

Stuck on Zero's picture

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.

MansaMusa's picture

The SNB has 4yrs to repatriate the gold so don't hold your breath waiting for some "change we can believe in"

agNau's picture

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.

Arius's picture

when you say "admire it for a short time" ...

the movie "How to steal a MIllion" comes to mind ...

Government needs you to pay taxes's picture

Brilliant insight.  Clap, clap, clap.

shenni's picture

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.

johngaltfla's picture

You never know. The Swiss people have been a defiant group throughout history...

Arius's picture

what are swiss people?


and what is their language btw?

Urban Redneck's picture

German, French, and/or Italian, depending on the Canton and Individual.

Arius's picture

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 ...

safe as milk's picture

that's because even hitler wasn't crazy enough to attack his own banker.

Winston Churchill's picture

And Romanch, only latin still spoken.

Urban Redneck's picture

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.  

JoeSexPack's picture

'speak relatively pure surrender monkey'



Urban Redneck's picture

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. 

jvetter713's picture

You mean just like when the US crooks stong armed them the other day into giving up depositor info?

SRSrocco's picture

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.

Arius's picture

spoken like a true politico - either will rain or will be good weather ... either way, I told you so ...

Squid-puppets a-go-go's picture

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

Millivanilli's picture

2014 maple leafs are a sweet coin- except for that bitch on one side.

zerozulu's picture

If it is gold, I am OK with the bitch on both side.

Renewable Life's picture

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?

Keyser's picture

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... 

Bangin7GramRocks's picture

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.

Renewable Life's picture

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!

screw face's picture

...the #Briiics are stacking like no tomorrow

Rootin' for Putin's picture

I have to stack bricks too?
Quick! to the building supply store!

Beowulf55's picture

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.

XqWretch's picture

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...

lunaticfringe's picture

She is another political coward. The banking cartel must have a finishing school for these bastards. In America, ours is called Harvard.

JustObserving's picture

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 Calls


HowdyDoody's picture

This would only be a significant problem in the peurile US.