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Withdrawals Of Gold From NY Fed Jump To 20 Tons In September, Total 276 Tons Since 2014
First it was Germany who redeemed 120 tons of physical gold in 2014; then it was the Netherlands who "secretly" redomiciled 122 tons of gold; then this past May, we learned that Austria would be the third "core" European nation to repatriate most of its offshore gold, held primarily in the Bank of England, redepositing it in Vienna and Switzerland.
Thanks to the latest NY Fed data released yesterday, we now know that beginning in 2014 and continuing through yesterday, the gold "bleeding" from the vault located 90 feet below street level at 33 Liberty Street (and which may or may not be connected by a tunnel to the JPM gold vault located just across the street at 1 Chase Manhattan Plaza) is not only continuing but accelerating.
As the chart below shows, while central banks assure the population that there is nothing to worry about when it comes to paper money, and in fact it is the evil ISIS terrorists who plot and scheme to crush the benevolent Fed with their terroristy "gold dinars" and if not that then their made in Hollywood propaganda movies, they have been quietly pulling gold from the biggest centralized depository of global gold in the world: the New York Federal Reserve.
According to the latest just released monthly update of foreign official assets held in custody at the NY Fed, in July the total holdings of foreign earmarked, i.e., physical, gold declined to just over $8 billion when evaluated at the legacy "price" of $42.22 per ounce. In ton terms, this means that after declining below 6000 tons in January, for the first time since FDR's infamous gold confiscation spree...
... the total physical gold held at the NY Fed dropped another 19.9 tons in September, down to 5,919.5 tons.
This was a doubling in gold withdrawals from 10 tons in August, and
is the highest withdrawal since January.
At just under 5,920 total tons in NY Fed inventory, this is the lowest amount of gold held in NY Fed custody in decades, and is the 20th consecutive month of flat or declining gold, and when added to previous outflows, amounts to 199 tons of gold withdrawn in the past 12 months, and a whopping 276 tons pulled since the start of 2014.
Indicatively, during the last crisis period, starting in March 2007 and lasting through November 2008, foreign central banks withdrew gold for a total of 20 out of 21 consecutive months, repatriating a grand total of 409 tons of gold. The last period of peak redemption culminated with the failure of Lehman in September 2008, the near failure of AIG in October and November 2008, coupled with the Fed's bailout of the western financial system.
If past is prologue, one should ask: what current or future event is driving the ongoing redemption of gold from the NY Fed this time?
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You didn't withdraw that! ;-)
Looney
Wolfram, putaz!!
YOU buy GLD and I buy gold........
We need to have a come-to-jesus moment with gold inventories, the black budget, the break-away society, what's going on at S4, why do we put up with a debt based monetary system, why are we paying taxes when the Pentagram lost $8.5T, etc.
Speaking of, has Texas finished repatriating its gold or is it still in NY?
Good question. I was wondering about Germany, how much they finally got out. Ask for too much and you won't get much if anything. Have to resort to taking out small amounts at a time. Maybe the Fed won't notice. Shhhh.....
The cool moment will be when the vault gets run to zero.
What happens to paper gold holders ?
They get zero, too.
Bag holders or leaky boat owners are the future.
Bullish on boating accidents.
I am the fucking Gold standard but I own a shit load of Silver and 10 troy platinum and 1 paladium just incase the stupid Nazi fuckers forget and leave Paldium out when they come for me.
I am waiting for metals traders to report a tungsten shortage.
wow,kinda dead in the comments dept
sumptin else must be going on
theyre all trying to load the isis missile video (watch?v=wYvZ0u6vqQY) but it got shut down by youtube
Very true. YouTub (meant it that way) now requires the you subscribe to said "service". Fuck you, YouTub, and the donkey you rode in upon.
The video is back up .... it's kinda fuzzy and jerky .... no visible markings .... no missle contrail .... I'm guessin' bomb in the baggage .... by Eqyptian IS ?
Obama must be being to pack up to leave the white house with his billions
It makes more sense to me to think that the Americans are right in there buying gold like the Chinese and the Russians...the only caveat? The Americans are paying back their physical gold debts as opposed to stockpiling ozT.
In spite of what Alistair MacLeod says about who is buying what and where is all is, he admits that there are huge gaps in such knowledge of gold's actual location and ownership.
It certainly would explain the actions of price suppression at the Crimex Futures Exchange a lot more than any other hypothesis I've heard to date.
In fact, it wouldn't surprise me to discover the Chinese are selling gold to the Americans at this point! :D
No gaps in the knowledge of my gold. I've got GPS co-ordinates for the places where my unfortunate boating accidents have happened.
GPS co-ordinates of lost gold...
You REALLY need to rethink that. Electronics should NEVER be between you and your precious.
Why keep your gold with a foreign central bank if gold is just a tradition and we are not even under a gold standard? Why would the New York Federal Reserve Bank even want to hold any of this shitty pet rock?
There was still gold to withdraw ?
They have been blowing up a lot of the ancient tombs for gold lately so it will still trickle in for a while.
look at it this way even if all the gold was sold off...we are still in debt for $20 Trillion
What the hell why even store any of that old ass worthless shit?
J.P. Morgan said...:"Gold is money"
The Bernake said..."Gold is not money"
So who you gonna believe? Some dead super rich guy, or some piece of shit punk tool?
If you don't possess it, you don't own it.
Andy Hoffman interview with Turd Ferguson. The dude gets it, and says it better than most gold analysts out there.
http://www.tfmetalsreport.com/podcast/7240/a2a-andy-hoffman-miles-franklin
"If you don't possess it, you don't own it"
That goes for the "dollar bills" in your bank account as well.
America should force it's convicts to work in the goldmines to collect more.
You'd be amazed what a simple whip and some brutalities can do to keep a good worktempo going.
And if they run short on convicts, just start to arrest the rapists, pedophiles and real criminals.
or just allow a small oligopoly to control all aspects of the economy
Who would run our country then? Hmmm?
They obviously want to pay off their debt with gold at some time.
Gold to Monetary Base Ratio (aka fed balance sheet is beyond anything in history):
http://www.macrotrends.net/1444/gold-to-monetary-base-ratio
Regardless of anyone's biasis it's high time everyone got thier hands on physical gold. I've been using the affiliate system to accumulate significant amounts of gold over the past 12 months. All from commission income. Get in touch with me it's easy done and costs nothing
www.teamramgold.com/about-us
if i was a central banker who could issue all the worthless fiat i wanted and i could buy gold with it i would buy all i could.this is all gold held in custody, (jail) and now somebody paid the bail, the real story is how much are they buying and where is it, and whats with that chart that ends in 1950? this is all beside the point, which is central bankers around the world are buying gold, and we know that because the IMF will base its new SDR issuance on your countries gold reserve. china has been secretly adding gold, they buy stocks out in the open brazenly, but they buy gold covertly. now of course we want to open the SPR, which is real insanity, why sell at these low prices, and the threat of a global oil shutdown is not any less likely, probably more. its like repealing glass steagel in 99, just when we really needed it. draining the SPR may be this generations pearl harbor, and they are probably selling gold as well, the two move together when they should be buying. the price of gold seems to correlate with the supply, more gold higher price, less gold lower price. oil ditto. but all this selling is captilution in my book
"what current or future event is driving the ongoing redemption of gold from the NY Fed this time?"
Deutsche Bank's collapse.
"20 tons? No problem. Have it for you in the morning.
Let's go, Elwood."
If you like your gold, you can keep your gold. Wait, no you can't. Fuck you, it's ours.
Before it was there, now it is here.
Gold is alas fiat as well. Bottom line its agreement in its value that determines the price seeing as a commodity for industrial uses there are only some.
We all agree gold is a hedge but if this is where the money goes as a ditched effort to hedge...what's after that?
Good grief. Gold isn't fiat. It is the numeraire.
Is it not true that JP Morgan are holding vast gold contracts? If so the lower oil price would force countries to sell some of their gold reserves at current prices which in theory should be much higher given gold is typically an asset of desire during financial troubling times.
Could the price of gold be being repressed so that it gets sold off cheaply relative to its likely higher value?
If other countries want their current based on gold they'll need a lot more of it than what they have or the price per ounce needs to go up to about 5,000
Americans should just read what their Constitution says about gold and silver.Today's so-called funny "money" is a Federal Reserve Note and it is only money to the banks or bank-money.The Federal Reserve is a banking cartel and is no part of the Government.They adopted the name for deception purposes at a time when Americans distrusted banks.Read what the Office of The Controller of The Currency under The Treasury Deapartment says.Gold is a Currency in The United States.It should be used today as a form of insurance protection on your assets and stored outside of the banking system so that it cannot be confiscated during a paper currency collapse.Many even store their gold overseas outside of the U.S. in places like Canada,Singapore,Switzerland or in a safe bolted to the basement floor of your home and kept secret.Check-out BitGold,it is also recently listed on Toronto.
Now that's odd. The FED admitted to Ron Paul that they hold NO GOLD. They only hold gold certificates
https://www.youtube.com/watch?v=qtq0JqUCdTI
So what's this bullshit propaganda about gold draw down.
I think people don't have that long to get their gold into their own physical control. The US cannot go on borrowing money, what idiot would loan any government money in this insane world?
https://thinkpatriot.wordpress.com/2015/10/27/ignoring-the-absolutely-in...
Meanwhile, new scientific theory, not off the presses. Your genetic heritage came from this.
https://thinkpatriot.wordpress.com/2015/10/31/african-advantage/
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Does this mean O is following Maduros' economic policies?
Who didn't vote 5 on this outstanding article? Snarky and full of facts, just the Tyler style. If it had a dog, it could be Shakespeare.
Fire Angel