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Bank of Spain Responds, Promises It Is Not Confiscating Catalonia's Gold

Tyler Durden's picture




 

On Wednesday, some were curious to know why a line of armored vans was stationed outside the Bank of Spain’s Barcelona branch.

Our interest was piqued when we remembered that on Sunday, Catalans will vote in what might as well be an independence referendum. 

We’ll spare readers a lengthy discussion of the history behind the independence movement and just note that CDC and ERC need 68 seats for an absolute parliamentary majority. If they hit that threshold, they’ll push quickly for an independent Catalonia. Based on the latest polls, it looks like it’s going to be close:

It doesn’t require a leap of logic to draw a connection between what looked like unusual activity at a central bank branch in the Catalan capital and this Sunday’s vote and so, we took the opportunity to ask the following: “Is the Bank Of Spain quietly pulling its gold from Catalonia ahead of this weekend's vote?”

The answer, according to The Bank Of Spain itself who was kind enough to send us a letter this morning, is “no.” We present their response below without further comment:

Good morning,

 

Regarding the story posted by Tyler Darden on 09/23/2015 under the headline Is The Bank Of Spain Quietly Pulling Its Gold From Catalonia Ahead Of This Weekend's Vote?, we want to point out the following:

 

Nothing extraordinary happened yesterday in the building of Banco de España in Barcelona. A number of armoured vans were stationed for a while in the street because of the increased movement of cash being distributed to the commercial banks prior to the banking holiday in Barcelona today (followed in many cases by another non-working day tomorrow or “Puente” as it is called in Spanish).

 

We gladly provided this explanation yesterday to the media which happened to ask us about the matter (which was not the case of VilaWeb, that did not contact the Banco de España regarding this –or any other- matter).

 

And, by the way, there is no gold in this site of Banco de España in Barcelona.

 

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Thu, 09/24/2015 - 16:49 | 6590158 tekhneek
Thu, 09/24/2015 - 18:00 | 6590471 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Thirty trucks to deliver some cash for a two day holiday. That must be the busiest bank in the world. Do they have 300 tellers working?

Thu, 09/24/2015 - 18:06 | 6590510 ZerOhead
ZerOhead's picture

"And, by the way, there is no gold in this site of Banco de España in Barcelona"

Well not anymore there isn't.

There probably aren't any euros or printing presses that can print euros either.

Thu, 09/24/2015 - 18:08 | 6590526 VinceFostersGhost
VinceFostersGhost's picture

 

 

Promises It Is Not Confiscating Catalonia's Gold

 

If you don't hold it.....you don't own it.

Thu, 09/24/2015 - 18:19 | 6590572 ZerOhead
ZerOhead's picture

If the Catalans want their euros back this looks like a good place to go knocking...

https://en.wikipedia.org/wiki/Royal_Mint_%28Spain%29

Thu, 09/24/2015 - 21:03 | 6591283 ImGumbydmmt
ImGumbydmmt's picture

...and its gone. Next customer please.

https://www.youtube.com/watch?v=-DT7bX-B1Mg

 

Thu, 09/24/2015 - 21:29 | 6591349 ImGumbydmmt
ImGumbydmmt's picture

"armoured vans were stationed for a while in the street because of the increased movement of cash being distributed to the commercial banks"

Oh wait just an effing minute!

Since when do COMMRCIAL banks need an influx of cold hard CASH?

Even in the third world large commercial transactions use electronic payment, and checks to each other and their creditors and debtors.

Cash is for the "little people"- i.e. stocking the retail branch banks.

When my broke ass pays my broke ass amigos, we all go to a local "retail branch bank" with our checks and direct deposits.

You cannot effing tell me Construction Company "Jose LLC" needs CASH to pay equipment and material supplier "Hose B Inc" ??

Hey Zeus Cheetosos !

Do I misunderstand something here?

No Comprendo Jefe!

 

 


https://www.youtube.com/watch?v=8aQv0Cjpzaw

My 3 year old Daughter Loves Skippy John Jomes!

Thu, 09/24/2015 - 16:50 | 6590162 Serfs Up
Serfs Up's picture

So, "yes" then?

Thu, 09/24/2015 - 17:11 | 6590250 HardlyZero
HardlyZero's picture

"Nothing extraordinary happened yesterday" == YES

Thu, 09/24/2015 - 16:51 | 6590173 debtor of last ...
debtor of last resort's picture

There is no gold ANYMORE in this site of Banco de Espana in Barcelona.

Thu, 09/24/2015 - 16:52 | 6590175 Sleepless Knight
Sleepless Knight's picture

And, by the way, there is no gold in this site of Banco de España in Barcelona -"now".

fixed it.

Thu, 09/24/2015 - 16:54 | 6590187 SgtShaftoe
SgtShaftoe's picture

I declare shenanigans.

Thu, 09/24/2015 - 16:59 | 6590205 willwork4food
willwork4food's picture

it's whats for supper!

 

Thu, 09/24/2015 - 16:55 | 6590193 wmbz
wmbz's picture

"because of the increased movement of cash being distributed to the commercial banks prior to the banking holiday in Barcelona today"

 

~ Right off the bat I would have called the guy a liar, they don't have enough cash/paper on hand to fill that many trucks.

Thu, 09/24/2015 - 17:35 | 6590346 MrPalladium
MrPalladium's picture

Bingo!! Plus you don't need trucks to haul around digital money that most spaniards use with their debit cards to make purchases.

I call BS!!

Thu, 09/24/2015 - 17:47 | 6590410 NotApplicable
NotApplicable's picture

Likely distributing Spiderman towels.

Thu, 09/24/2015 - 16:59 | 6590202 Thirtyseven
Thirtyseven's picture

I've been disapointed in Spaniards ever since the town of Castrillo Matajudios changed it's name to Castrillo Mota de Judios.

 

Thu, 09/24/2015 - 17:03 | 6590224 Salzburg1756
Salzburg1756's picture

The town was originally named Castrillo Motajudíos ("Hill of Jews Camp") in 1035 when Jews fleeing from a nearby pogrom settled there; it was changed to Castrillo Matajudíos ("Jew-killer Camp") in 1627[3] during a period of religious persecution of non-Christians in Spain (the Jews had been expelled from Spain in 1492).[3] In June 2015 the name was changed back to Castrillo Mota de Judíos[3] following a campaign led by mayor Lorenzo Rodríguez leading to a vote among the villagers in May 2014.[4][3]

I like Castrillo Matajudíos

Thu, 09/24/2015 - 17:41 | 6590381 MrPalladium
MrPalladium's picture

About to be renamed Castrillo de los Santos in honor of Jean Raspail.

Thu, 09/24/2015 - 23:02 | 6591619 Bemused Observer
Bemused Observer's picture

One letter makes the difference between Hill of Jews and Jew Killer?

Holy Christ, that is one unforgiving tongue, no?

Thu, 09/24/2015 - 17:14 | 6590263 Fractal Parasite
Fractal Parasite's picture

So Tyler Darden was kind enough to promptly publish Banco de España’s response unedited and with the same prominence as the original story.

Such fairness in journalistic standards could never be permitted in the mind-controlling mass media.

Thu, 09/24/2015 - 17:43 | 6590395 NotApplicable
NotApplicable's picture

"It's an like Dankey Kang!" -- Tyler Darden

http://i3.kym-cdn.com/photos/images/newsfeed/000/945/222/dbe.jpg

Thu, 09/24/2015 - 17:17 | 6590269 delacroix
delacroix's picture

so columbus was an exiled jew. no wonder they think they own america.

Thu, 09/24/2015 - 17:20 | 6590295 shovelhead
shovelhead's picture

It's important to have plenty of cash on hand for a 2 day banking holiday.

This explanation makes perfect sense.

Thu, 09/24/2015 - 17:38 | 6590368 RopeADope
RopeADope's picture

In case of a bank run after the vote.

Thu, 09/24/2015 - 17:23 | 6590303 nosoeawe
nosoeawe's picture

what do you expect from a country who's leadership was presided over by an inbred, infertile,  hapsburg retardo (charles II).

Thu, 09/24/2015 - 17:38 | 6590366 LostWages
LostWages's picture

And I only had 2 beers....Yes I love you and no I won't come in your mouth.

Thu, 09/24/2015 - 17:49 | 6590424 NotApplicable
NotApplicable's picture

Sounds like Monday oughta be a real hoot!

Thu, 09/24/2015 - 17:59 | 6590468 Herdee
Herdee's picture

 Spain should say they are sorry for not spelling Tyler's name right.

Thu, 09/24/2015 - 18:02 | 6590481 Omega_Man
Omega_Man's picture

bank holiday???

Thu, 09/24/2015 - 18:17 | 6590567 Dre4dwolf
Dre4dwolf's picture

Honestly, I never understood these drivers who haul gold bricks around for these criminal banks.

Just take the fucking truck and drive over the closest border you can find, it would take you 100 lifetimes to make what you are hauling.

If you manage to even take one truck.... who the fuck cares if you can never go back to your country.

 

Fri, 09/25/2015 - 02:55 | 6591925 savagegoose
savagegoose's picture

thats why all the guards are armed, to keep an eye on ea other as much as  everyone else.

Fri, 09/25/2015 - 04:15 | 6591962 Benjamin123
Benjamin123's picture

In Venezuela bank tellers often work in cahoots with armed thugs waiting a block away from the bank.

Thu, 09/24/2015 - 18:25 | 6590604 FlacoGee
FlacoGee's picture

"We keep all of our gold safely at the New York Fed and our good friends at JPMorgan"

 

"What could go wrong?"

Thu, 09/24/2015 - 18:53 | 6590748 Dragon HAwk
Dragon HAwk's picture

Bank Run... so to counter the story about stealing Gold, they suggest they are worried about a bank Run.. Got it..

  I guess that's the lesser of two evils..

 

Thu, 09/24/2015 - 20:48 | 6591231 nnnnnn
nnnnnn's picture

bank of spain responds, promises it is not confiscating catalonias gold, because there is no gold left anymore.

Thu, 09/24/2015 - 22:46 | 6591584 Government need...
Government needs you to pay taxes's picture

Just another corrupt fuckin .gov lying to the people.  I want some heads, rolling down the street.

Fri, 09/25/2015 - 00:13 | 6591725 ThorAss
ThorAss's picture

What's Catalan for pet rocks?

Fri, 09/25/2015 - 00:21 | 6591745 Peter Pan
Peter Pan's picture

The explanation was given after the vans were outside the bank, therefore the statement that there is no gold in the Catalonian Bank is correct. It had already been removed.

Fri, 09/25/2015 - 00:29 | 6591768 AR15AU
AR15AU's picture

The public needs to track the movements of gold in the hands of government.

As the 7 year emergency drags on, we can be sure that the powers will become increasingly cynical and increasingly likely to betray the public outright by selling or dumping the gold in a final act of hateful desperation. 

Fri, 09/25/2015 - 02:33 | 6591912 Joe A
Joe A's picture

And it's gone. Because it was already gone.

Fri, 09/25/2015 - 04:11 | 6591961 Benjamin123
Benjamin123's picture

Cataluña is its own gold.

Fri, 09/25/2015 - 06:00 | 6592017 Astur147
Astur147's picture

This is absurd since they want to be independent from Spain but with double nationality.  Can you imagine Washington or Lincoln talking about the States and saying "but well, we will be also British citizens"

Catalonia only wants independence like a la carte menu. Having rights of being Spaniards (for example they say Spain should pay their pensions, or Barça still play in spanish league) but not the liabilities. This is not claim for independence, this is a rude child in a tantrum

Fri, 09/25/2015 - 06:56 | 6592068 Overflow
Overflow's picture

¿Catalonia's gold? LOL

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