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Gold Held In NY Fed Vault Drops To Lowest In 21st Century After Biggest Monthly Withdrawal Since 2001
Exactly one month ago we observed that, as expected in the aftermath of the Netherlands' shocking and still not fully-explained gold repatriation from the NY Fed, the amount of foreign earmarked gold on deposit with the Fed had just experienced a 42 ton withdrawal: the single largest outflow of gold held at the NY Fed in over a decade, going back all the way to 2001. This had brought the total amount of YTD gold withdrawals from the NY Fed to a whopping 119 tons: the most since the Lehman collapse.
However, because this total was insufficient to cover just the Dutch repatriation of gold from the NY Fed (which amounted to 122 tons), we knew there would be more activity when the November data hit. Sure enough, earlier today the Fed reported the total amount of earmarked gold (or gold "held in foreign and international accounts and valued at $42.22 per fine troy ounce; not included in the gold stock of the United States") for the month of November: at $8.184 billion, this was a $60 million drop from the previous month (or it would be at the $42.22/ounce "price"; at market prices the value of the withdrawn gold is about $1.7 billion).
In actual tonnage terms, this means that in November some 47.1 tons of gold were withdrawn from the NY Fed, bringing the Fed's total earmarked gold to just 6,029 tonnes: the biggest single monthly outflow going back to the turn of the century. This is also the lowest amount of gold held at the NY Fed vault located at 33 Liberty street (and just across from the even bigger vault located at 1 Chase Manhattan Plaza) in the 21st century.
But even more notable is that with the November data, we now know that all of the Dutch repatriated gold is fully accounted for.
Which brings up a far more important question: net of the Netherlands withdrawals, there is some 44 tons of extra gold that has been also quietly redeemed (by another entity). The question is who: is it now the turn of Austria to reveal in a few weeks that it too, secretly, withdrew some 40+ tons of gold from "safe keeping" in the US? Or was it Belgium? Or did the Dutch simply decide to haul back some more. Or did Germany finally get over its "logistical complications" which prevented it from transporting more than just a laughable 5 tons in 2013? And most importantly, did Germany finally grow a pair and decide not to let "diplomatic difficulties" stand between it and its gold?
We should have the official answer shortly, but we know one thing: it sure wasn't Ukraine.
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what gold?
So who is next in line to get Corzined/rehypothecated?
6,039 tons?
Is that “gold” or “gold and/or gold receipts”?
Fuck the tribe.
Its time to panic
Where is the Fed Window where you can buy Fed gold for $42.22 an ounce?
It's okay. The Bernank said gold isn't money so these suckers demanding delivery of their gold in China, Dubai, and Europe are just getting shiny well painted Tungsten bars anyways.
Some assets are underpriced, like gold. Others still need to correct, like RE. I am guessing, this carry trade thingy combined with the thousands of solid paying jobs in the O&G world will be the straw that breaks the camels back, as they say.
and i am to believe a single word written today from the ny fed. are you or i that stupid?
i don't believe anything about gold, just no way to prove any of the lies. its like knowing how much blow is moving around at any given time.
all poppycock...
"... with the November data, we now know..."
We now know diddly-squat. Same as it ever was. You have that right, new game.
So, Tyler, it's dropped what, 10% in 10 years? Gee.
Meanwhile, why isn't Putin buying phyzz hand over fist? Anyone would think he's happy to play along with the NWO, or, at least, the NWO's banker chapter.
Big Jim, look at Russian mining output plus very little gold leaves Russia, and they are sitting on the old gold as well. My guess Russia is one or two in gold holdings. They are flat in trade deficits too. What's gold in Russia stays in Russia !
If I rehypothicate 10 tonnes of gold at $42 I can loan out 9/10s of the collateral at a price set by decree of the central bank which means I profit at such and such a degree.
Folks, We Sold Some GOLD.
What's up with copper? Nary a mummer.
http://www.kitcometals.com/charts/copper.html
And then there is
BITCOIN?
"But there's one currency that did worse in 2014, depending on whether you think virtual currencies are real money," wrote Bloomberg. "A bitcoin has lost 58 percent of its value in U.S. dollars this year, and 72 percent since last November. If you'd invested $10,000 in bitcoin at the beginning of 2014, it would be worth $4,202 today."
http://www.newsmax.com/TheWire/bitcoin-worst-investment-2014/2014/12/29/...
Bitcoin is for short term (spending, speculating) and fleeing the country without anyone knowing about it.
Gold is for long term, crisis proof.
Here's a story Zerohedge seems to have missed http://finance.yahoo.com/news/china-bans-gmail--is-this-what-brings-the-... no doubt is mostly google sponsored propaganda
Where is the Fed Window where you can buy Fed gold for $42.22 an ounce?
I've heard it's right next to the Lost Dutchman's Mine...but I've never actually seen it.
a kilo in hand
is worth a few in the bush...
Straw that breaks the back, is when rest of world no longer wants US treasuries. They convinced/coerced Japan to be a buyer. My guess that line is getting shorter everyday. Who really wants a UST ?
Everyone who has a gun pointed at their head.
I don't think that doillar sign has anything to do with fiats. Wait for the blue money or a reset.
I'm sure they will sell anybody gold at $42/ounce as long as they are paying for it with sound money (like gold eagles and double eagles). With fiat money you will only get your monies worth (very little, if anything).
at that price of $42 which producer/miner will be still operative ? My guess is ZERO . Even at this level of about $1200 most miners just break even !
So the $42 for one once is an impossible dream !
No. The Gold Window was closed on August 15, 1971.
Besides the One Ounce $50 Gold Piece, if traded for Gold at $42, would give a person roughly an Ounce and an Eighth for an Ounce.
They are not giving it away...even if it is a "Barbarous Relic".
Where is the Fed Window where you can buy Fed gold for $42.22 an ounce?
Closed by Richard M. Nixon on August 15, 1971.
The US Government has never revalued Gold since that time. Thus the US Government Official Price stands...BY STATUTE...BY LAW...at $42.22.
Not to get all "tinfoil-hatty" but when exactly in 2001 did this previous record withdrawal take place?
About a month before 9-11. And it was the Saudis. And nobody wants to cover this because witnesses got the Marcy Park tour.
No tinfoil hat, just redacations in the official investigation that was published.
hey John,
Do you have a source for the saudi Gold withdrawal?
Im Not doubting this claim.I would just like a good source of study!
Thanks
Just FOAF who claimed to see the unredacted 9-11 report. Until those black marks are removed, the public will never now the truth. As long as Bushies, Clintons, and Obamas are in office, the Saudis have purchased protection to cover up their activities. Including the active slave trade from Christian parts of South Sudan.
Seriously, fuck the Wahabbis. Zionist-cock suckers
Anything coming out of a largely neocon-infested government as to Saudi should be treated with a healthy amount of skepticism.
https://wikispooks.com/wiki/Document:Invasion_of_Saudi_Arabia
I'd be interested in the source of that claim, as well.
Anything coming out of a government should be treated with a healthy amount of skepticism.
There! FIFY!
From your link.
'In reality there has been no hard evidence linking Saudi Arabian leaders and officials to terrorism, little evidence of Saudi subjects playing a mindful role, and far less financial ties to terrorism than could be found in most nations with a banking system.'
They're cunning b'stards, I'll give them that.....
finally the barbaric relic can be replaced with high quality Fiat
...and just in the nick of time, too!
I've just started reading The International Jew by Henry Ford. It is a prophetic work.
"That's as good as money Sir. Those are I.O.U's."
Classic. Didn't even have to click on the link to know what it was(I did anyway because that clip never gets old)
Dumb & Dumber, Right?
It is simply amazing that ANYONE can click on that link and recognize the absurdity of the statement. Yet when the Fed says the same thing the vast majority of people will accept it at face value and never question it.
THAT in its simplest form is the CON in the confidence job the Fed and the banking system are pulling. Of course no CON is complete without someone(s) accepting what they think is true for actual truth. The CON is nothing without someone(s) willing to go along for the ride for any one of a million reasons.
Part of the con is always the john
Ha ya that's true. But no one gets it. I forget who said it, but it's much easier to fool someone than it is to convince them that they've been fooled.
+1 One has but to look at various institutional religions and cults to know the truth in your statement. Manson still has followers.
"It is simply amazing that ANYONE can click on that link and recognize the absurdity of the statement. Yet when the Fed says the same thing the vast majority of people will accept it at face value and never question it."
CD - you have to put the Gun into the algorithm for the algos ... give the dummer the gun and you will see the other guy smile and ohhhhh yes, IOU are fine too ... just let me get out of the room
The amazing thing is how the writers of the scene/movie hit a literal gold mine in terms of pyramid scheme and economics that are tought nowadays. Did they really know, or at least the depth of the con-game? Probably not. But doesn't matter because I know people who love that movie so much and they still have no idea what they are doing in their own financial world. That's the comedy of it all.
@ ManThong,
Fuck'n IOU Notes.
@cog ~ because nearly everyone goes along with it .... until they don't, Russia and China will pull the cord simulataneously in my opinion. In America's case it's very different and we will have our head in the sand, debating over the size of Kardashian's ass and cop 'killers' until we can't go along because reality is too inconvenient.
I still don't think that's necessarily happening. China goes along with it because it's too their benefit. They need us and Europe because they need us to sell their cheap shit to. If we go down, so does the EU, and there isn't another realistic market of about 850 mil people to sell their cheap shit too. I know their are other places with a similar sized population out there, however their own people are borderline slave wages just like the Chinese, so there's no reason for them to need china to make it for them. While it might give them a sense of satisfaction to collapse the dollar since they are sick of US dominance, once we stop buying their manufactured goods, they're going to have several hundred million pissed off peasants to answer to once those factories shut down. Not saying it's a good situation , nor that it's sustainable, that's just my take on it.
Corresponding with the fll of the US dollar will be a rise in the value of China's fiat. This will give the Chinese populationgreater buying power. China will have gotten an industrial base for FREE from the west over the past few decades in exchange for cheap labor INSTEAD of BORROWING BILLIONS as every nation in the past has done. China has also acquired technology pretty cheap as well - requiring tecnologt sharing with their manufacturing ventures - cheapp labor for western compaies (for now) while China profits in many ways.
It's a pretty briiant strategy actually... they put millions of peasants to work, raising their living standard - even if it still is much lower than other industrial nations while collecting trillions in foreign exchange to BUY power and influence throughout the world. They've converted much of the $US they've gotten into tangible assets like mining companies in Australia and South America, farmland in Africa and long term energy contract all over. The Chinese Comunists DID manage to transform China - even if screwing up big time with the great Leap Forwar and more. They transformed themsleves without ever admitting it and got the West to py for their transformation. Possession is 9/10's of the law. All those factories shiped lock stock and barrel to China are CHINESE and all they make is part of China's GDP earnign moeny for CHINA. Some western 'owners' or 'partners' may be making a profit off them - for now - but they've done so at the cost of cripplingg their own national economies in the West.
China has a LONG memory. They view their displacement as the head of the civilized world by western 'barbarians' as a temporary and unfortunate break - soon to be restored. They remember the Opium Wars and other humiliations and WILL get 'even' in the long term. And if you don't think the treasure looted from China by the Japanese, recovered by the Americans (and kept) is a sore spot.....
Expect the West to collapse through their own hubris - leaving a newly industrialized China with a population that will now be able to afford to buy all the things they make. They won't NEED the US to buy stuff. The US Empire has squandered trillions on a military that has only po'd the world - you can't simply take what you think you 'deserve' indefinitely. We're Rome at the end - mercenaries do our dirty work - and are all too ready to trurn on their employer when not paid, our money has been debased and the populus is held in check only through massive spending on bread and circuses. The senators in Rome as a self-centered debauched lot growing more and more afraid of the masses, knowing that revolt is an all too real possibility when the bread runs out.
Europe - having directly suffered two world wars on the last 100 years is not too keen on going through another so may be a bit saner but you've got people pulling the strings that seem to think they can get away with anything. They will get desperate to prop up the US but...... are they insane enough to start WWIII? It's NOT the path China Russia and others want to take - but whether they can short circuit those efforts is another thing.... Seems like some would rather have the world a smoldering pile of ashes thant see the rational course of their past actions (failures)- and the rise of others - play out/
Fortunately, "They" have opposition to contend with.
"Expect the West to collapse through their own hubris"
Well I think the banking mafia helped as it was them who offshored America's industrial base to China.
we all are already via suppressed value...
Gold IOUs dropped to the lowest this millineum but the physical gold has been long gone.
"gold and gold deliverables"
Same thought, same time.. it’s getting harder for them to keep the scam under the rug.
They can just say nein, like they did to Merkel.
No sweat. They'll just print up some more
Federal Reserve Bank New York Lost 47t Of Gold In November
https://www.bullionstar.com/blog/koos-jansen/federal-reserve-bank-new-yo...
Its on ............bitches
The shit has been extracted, and now only needs to be thrown at the spinning fan
Just keep buying physical, fuck em.
So, how much is in Ft Knox? (Hint: not what they say their is)
Your avatar is gold to most guys.
It's probably just an innocent co-incidence.
Don't want the gold? a barbaric relic? well that's fine we know some people and countries that will happily take the physical from you.
Maybe they decided to put back into the WTC vault?
http://911research.wtc7.net/wtc/evidence/gold.html
See, I remember.
Maybe we can get John McClane to check on this for us....
He's got some experience with this issue.
Why did zee Germans get their greedy mits on it?
does it matter?
and why?
It matters because:
they can't hide the shortage of physical gold forever, and
there are so few investments left that make any sense at all,
Because the Fed.
Gold is NOT an investment. The banking community and US fed has turned it into an ETF/investment/futures POS so that people lose sight of what it really is. Make no mistake, other nations know what gold really is. Gold is the only real money on earth that:
has outlasted generations;
has outlasted civilizations;
has outlasted wars;
outlives political malfeasance;
does not discriminate by color, race, or creed;
has no borders;
can not be duplicated by central bankers;
is recognized globally;
is demonized by the Feral Reserve to support the petro dollar.
The US dollar may have one of the above traits, but gold has it beat in every other department.
Gold certainly is NOT an investment.
Hmmmm. Nope.
If gold were money, you would be willing to spend it, and you won't. Neither will I. Remember Gresham's Law, bad money drives out the good. As long as we have fiat, we will all spend the juden confetti, and hoard PMs as we should.
Now gold can and should be the backing FOR a real currency, but that would take all the fun and criminality out of Central Banking. As to investments, that's a more personal choice. For me Land and PMs are the ultimate investment, and will stay in the family as long as I have some control.
I have learned in this crisis from the Bernanke that gold and treasury bonds are ASSETS not money
and dont forget a little traditon
Well of course you can't spend your gold or silver, because the US FED has outlawed it. And that's precisely why instruments are available to "invest" in it, so that you don't recognize it's historic relevance and true power.
Go to India, China, Brazil, or the ME and offer someone the choice between physical gold or silver and a GLD certificate, and see what happens. lol.
Confusing money with currency
You can argue that silver is money too. May also explain why the Morgue could possibly have 300M ounces of physical now.
http://www.silverseek.com/commentary/perfect-crime-13944
Sure you can, but money is, by definition, a medium of exchange.
Get a lot of silver dollars in change, do you? If so, I want to live in your hood;)
Good article with PCR and Dave Kranzler,
"Historically, the role of gold and silver has been to function as a means of exchange and a store of wealth during periods of economic and political turmoil. Since the bullion bull market began in late 2000, It rose almost non-stop until March 2008, ahead of the Great Financial Crisis, which started with the collapse of Bear Stearns. When Bear Stearns collapsed, gold was taken down over the course of the next 7 months from $1035 to $680, or 34%; silver from $21 to $8, or 62%. The most violent takedown occurred as Lehman collapsed and Goldman Sachs was about to collapse. This takedown occurred during a period of time when gold should have been going parabolic in price. The price of gold finally took off in late October 2008 from $680 to $1900 while the Government and the Fed were busy printing money to bail out the banks. While the price of gold rose nearly 300% from late 2008 to September 2011, the U.S. dollar lost over 17% of its value, falling from 89 on the dollar index to 73.50."
http://www.paulcraigroberts.org/2014/12/22/lawless-manipulation-bullion-...
I exchange silver for fresh produce at the (now indoor) farmer's market. I want to make more friends in my 'hood.
@ nope-1004,
Gold build Nations. Silver is a Gentleman's Currency.
+1. And the US dollar is a military weapon. Sanctions, SWIFT, derivatives, Treasuries, and FOREX are all tools to control the world.
Nothing will change until a new system arrives and wipes the slate clean, ending the financial repression of BILLIONS of souls.
Posted the following on another Thread. Worth re posting.
Copy & Paste and begin educating others. For starters "We" collectively must begin starving the Beast. Peaceful Non Compliance / Non Participation into the Criminal Fraud UNITED STATES, CORP. INC. System of Debt Bondage & Enslavement.
UNITED STATES OF AMERICA, INC.
Non-profit Delaware Corporation
Incorporation Date: 4/19/89
File No. 2193946
The corporation is registered in the state of Delaware.
STOP CONSENTING (Black's Laws Dictionary) either by Silence or Contracting with the Criminal Fraud.
-Stop paying Taxes.
-Stop buying their GMO Poison. Fast foods, sodas, Sucralose etc...
-Take your $ out of the Criminal TBTFBANKSTERS CIA drug money laundering Banks & transfer it to your Local Credit Union,
-Buy Local.
-Stop Voting or revoke your voters registration cards.
-Stay out of their Criminal Fraud Maritime / Admiralty Courts.
-Stop Contracting (CONSENT) via signature with the State.
-Educate, educate, educate.
-Home School. Stop the Indoctrination.
And, most importantly.
It's been proven time & time again on ZH the markets are manipulated. It's one huge Global Ponzi Scheme.
-Cash out. It's eventually going to collapse. Cripple the Criminal Fraud System as much as it's Crippled you.
-Store your wealth. Purchase food, precious metals, barter items. You'll need them.
-Have a Barter Skill. Mine is Physical Therapy.
"We have 8300 tonnes of gold"
James G Ricktards
Just a book keeping entry unless they let a third party in there to do a audit.
There was a tv show on history channel not to long ago about ft Knox . About the security and that there was all those tanks there a d soldiers. Well the only tanks there now are at the Patton museum. Everything's been moved to ft Benning. Just administrative stuff left at ft Knox. And last time I saw the depository it needed pressure washed and weedeated
That's 8,300 tonnes of gold missing...Prop for FRN' and Oil...Saudis lower oil price we stick metal rod up Asad's ass....Quid pro quo...I love this shit,,,reminds me of ,,,,,,victory!! Muammar Gaddafi...Sleeps with the virgins...
Pretty sure Merkel already has a pair. If not she can borrow some from the First "Lady".
That wookies pair and Hillarys pair, if put in a burlap sac, could not be lifted by Atlas and Hercules combined.
We should have the official answer shortly.
Official answer: we're short a lot of gold.
Did they drop-ship Ukraine's gold directly to Germany?
I thought they shipped Ukraines gold to the Netherlands in exchange for propping up that story of MH370 mysteriously re-appearing full of Dutch people in Europe.
if true ... those dutchman didnt come cheap ... somehow, i just dont buy it. in their eyes people's lives count as pennies
Tyler,
Do you have any idea to whom the withdrawals from 2007-2009 on this graph went?
Thanks,
f22
Harvey Organ tracks such movements.
http://www.silverdoctors.com/tag/harvey-organ/
The Dutch will lease their repatriated gold into the market (James Turk). Why not the others. The central banks are all one incestuous snake pit.
Get it while you can CBs
China forclosed on the Fed. LOL.
nope it was me
Soon they will have a negative reserve
The good news is with all that prime located vault space they could open a Starbucks for $100 per sq. ft or a trendy new restaurant called "The vault"
I only see upside for the Fed...
A college dorm mate of mine opened a place called the vault. It is a vault where the very rich can bring their valuables
and store them with 24 hour access. His mother is a duPont. It's good to be the king.
What's the Address?
Greenville Delaware
.
Fuck, they've got another 85 years to knock it down further, give 'em a chance.
Quietest Bank run in history.
And the funny thing, A lot of this gold was kept with the US to keep it out of the old Soviet hands when they expanded into the satellite nations of eastern Europe. Now they want it back with a potential for a war in Europe with Russia.
Says a lot about who Europe really trusts no matter what they say publicly.
Watch what they do, not what they say.
I feel like there is one giant pile of gold in a London church somewhere, with a Rotheschild swimming in it.
RedShields go nowhere near churches... unless there is an alter to Lucifer.
Are you trying to say that Scrooge McDuck was hasbara?
Excellent point
agree, but it's only part of the story
how did european gold happen to be stored in the US? was it shipped to the US? yes, but... most of it as American gold, gained against goods and services
big chunks of that gold became only "european" or just "foreign" while sitting prettily in American vaults
and the reason was: trade. specifically, trade against dollars, and then conversion to gold... without a back shipment
until French warships in NY harbour actually did start to load, and Nixon closed the conversion. and the dollar started to be our problem, and then, later, China's too
all this thing about the dollar is just that: should trade flows balance... or not? the US Congress believes it shouldn't, ever. BRICS disagree, we europeans... say it depends
not to worry. there's nothing to repatriate. at least most of eastern europe is liberated from the shiny burden by the gracious west.
estonian case study
. sorry for the copy-paste. it's from my old comment as the link is not working
another story from the north-east corner of europe:
I did some research on Estonian gold reserves (or how we lost it). It’s another example how we were liberated from our gold reserves (probably by the west) after gaining the independence from Soviet Union. I also found some interesting information on bolshevik's gold.
Currently we are one of the countries with least gold in the world, with meager 233,9 kg.
The First Estonian Republic was established in 1918. After defeating Russian invasions during War of Independence 1918-1920, on 2nd of February 1920 Tartu Peace treaty was signed, according to which Russia was to give Estonia 15 million gold rubles for war reparations equaling 11 tons 613 kg and 510 grams in pure gold. Considering the size of the country and the population, it’s not an insignificant quantity.
For obvious reasons, it was stored for safekeeping in United Kingdom and in Swedish Kingdom. It proved to be a wise strategy as during WW2, from 1940-1944, Estonia witnessed Soviet Union military invasion and occupation following by German military invasion and occupation, ending again in Soviet occupation in 1944. As Estonia was again a battleground for two major forces during WW2, the country was in ruins and had no military might to withstand another invasion like it did after WW1. Estonia was finally annexed to Soviet Union without a shot fired. Even though Sweden and UK betrayed our trust and gave the gold to Soviet Union, after regaining our Independence in 1991, it was promised to be returned to its legal owners. The gold was given back by UK and Sweden, not by Russia. Was there a special deal that they agreed to give over the gold twice?
Estonia started the money reforms in 1992 and the gold was supposed to be collateral for our new currency, Estonian Krona, but reparation stalled and instead the currency was backed by forest (timber as a resource) which Estonia has plenty, covering 50% of its territory.
So finally when the gold returned to home, it had no use in the minds of Estonian politicians and central bankers. Only god knows where they got this idea. 3,9 tons was sold immediately, bought back within few days with higher price, and then sold again with another loss, costing us 12 million Krona’s.
State auditors were denied access to any central bank documents regarding the gold transactions. Later rest of the gold was sold to unknown buyers and there is no further knowledge about these matters.
Btw, bolsheviks had 1,101 million gold rubles after WW1 but because it was taken by force from citizens, aristocrats and from czar et al, exchanges were not accepting it due to the economic sanctions established by Western governments. So Estonia was quite a convenient place to launder bolshevik’s gold as it had already received large quantities with Tartu Peace Treaty repatriations.
Tallinn became one of the main windows for the bolshevik’s imports. For example, in 1920 local bolshevik representative office in Tallinn had more than 6,5 kg of stolen brilliants, sapphires, and other precious stones, while Estonian central bank, along with some commercial banks, was used to launder gold, different previous Russian state rubles, foreign currencies, and other valuables, with the exchange loss up to 40%. It was to buy anything from herring to potatoes, from scythes to gatling guns, though most of it was weaponry and other military equipment.
The commerce was so heavy that it clogged Tallinn harbour and Narva-Petrograd railroad transit capacity couldn’t meet the demand. The high concentration of gold in Tallinn attracted carpetbaggers from all across the world and thus Tallinn earned the name of ‘International Cloaca’.
All the fun came to an end in 1921 when England established temporary free trade agreement with bolshevik’s government.
During 1920-1921 Estonia laundered at least 683,5 million gold rubles which equals 700 metric tons of gold in coins while excluding bullion. Approximately 80 million gold rubles was the commission Estonians earned on this shadow economy which was just shy of earnings on official exports during those 2 years. It also nearly equaled the sum Estonian War of Independence cost to us.
Pretty nice accounting gimmick for everyone to have gold on the books at $42 still.
Maybe they'll monetize Ag and reset the GSR to 42? /sarc
we corzined some folks
We've been polishing those German gold bars for 50 years. If Merkel takes them out there in that rain, they'll rust up on her. [/Cowboy, Kelly's Heroes]
Independent audit. Independent audit. Independent audit.
Now that the IRS has been weaponized, I'd only trust the word of an auditor domiciled elsewhere (e.g. Dagong Global Credit Rating).
They call it the relic of savages.
Just makin' space for digital dollars.
In other news, trust between central banks is at its lowest in the 21st century...
Da Bundesbank Says;
Wie kommt es, uns dumm Deutschen nicht alle unsere Gold-zu erhalten, aber die Holländer zu über 100 Tonnen .... wir sind dumm, oder was?
und ... es ist vorbei!
two reasons they could be short 47 tons.
#1. gods work doesn't come cheap, and the boys out back don't accect dollars.
#2. their making comex deliveries out of the frbny.
heh heh heh, the End is Near, Bitchez.
If the bar has a (T) after the serial number it means tungsten core.
If Gold is such a worthless relic then why is it guarded with such severe security? Make no mistake, gold is the finest collateral on Earth, otherwise there would be no reason for its secure storage. But the Fed and BOE got greedy and rehypothecated it.
And outsiders won't know until a non-existing audit transpires- never. Nothing to see here folks, the gold went to the East while what is left was acquired through financial war and classic NATO intervention- Ukraine, Libya and Venezuela. Remember the Benghazi central bank for auditing Gaddafi's gold? Neither do I.
Before gold there were sea shells. After gold there is BITCOIN !!!!!
Bitcoin was over $900 a year ago. Around $300 now, and at yearly lows. No wonder the pumpers dont troll these threads anymore.
It doesn't pay a dividend I don't weant it.
I confess I don't understand Bitcoin one Bit. All I do know is it's up, it's down and then it's GONE
Cant imagine why the FED wouldn't be a safe place to keep sovereign wealth. Cashing out T-Bills next?
Unfortunately QE and currency swaps makes those figures meaningless, but they're not growing like the used to.
The ratio of paper to physical is 110. Let there be a run against the COMEX (surely nobody will let that, but that's another issue) and the price goes beyond $100,000/oz before it stabilizes.
Why would you say no one would allow a demand for physical. How could they stop it. When they can't produce that amount of gold they will offer to pay in paper currency. No one will accept this and the fruad will be exposed once and for all. The price will moon shot, those with gold will do well. The nations with the most gold will make the new rules and set the price. The East wins. No shots fired. McLame objects, McDonald gets to keep his web site,Rand Paul smiles,he and dear old dad have gold, Boehner pours another drink and Edurado Cruz gets to be president of Cuba and the a priest here in the states selling snake oil. Marshall law, no food,no gas,no oil,concentration camps etc.etc.etc. Ahh it is a ponderous chain.
Wake me when they're withdrawing thousands of tons.....
Also, wake me when Merkel's marbles are bigger than BB's....
The gold has, is, flowing east.
"Those with the gold make the rules. Those with the tungsten, obey."
The banksters need to repay us.
Led Zep is going to have to rewrite Stairway: "All that glitters is gold-plated tungsten."
There’s a Fed Chair who’s sure
all that craters is gold,
and she’s printing a stairway to Hell
When she gets there she knows
if our stocks have been sold,
with a word she can get us to buy more
Oooh-ooh. ooh, ooh, and she’s printing a stairway to Hell
Let me tweek it for you by replacing hell with Hades. See how the two syllables help you. Don't drink so much.
I predict seveal more countries ask for thier gold back this next year...its a security trend...and a good one I think...we will see if they can produce it all....then the small fry will start asking for delivery..they will be screwed I think..the Comex and London will screw them over...
Better go put all of your money into physical gold bullion even if it may go to $700 per oz who cares ZH runs a lot of gold stories so believe it...
Let me guess. You just returned from China and they're not buying any gold.
https://www.bullionstar.com/blog/koos-jansen/sge-withdrawals-a-whopping-...
Well ZH favorite Martin Armstrong says a close under $1150 for the year "guarantees" gold will heat to the $700 range, and he routinely lambasts gold pumpers as fools destined to lose.
As for China yes I was in China twice recently and discovered a huge gold "Mall" in Shanghai next to their old town, which was EMPTY totally devoid of customers. A Chinese lady business associate told me that only tghe older generation likes gold - younger people don't buy. The whole concept that Chinese individuals earn money then rush out and guy as much gold as they can, this is a fallacy and a joke.
Armstrong is an ex-felon who thinks JPMorgan was an idiot. But wasn't it JP that said only gold is money?
Armstrong is a fuckwit. He hasn't written a good article since 2005.
Absolutely idiotic question by a stupid idiot like me:
Who counted the gold bars?
Who tested them?
Who saw them?
For all the countries that allegedly don't want their gold back there sure seem to be an awful lot of other entities interested in accumulating at a rapid rate