Bundesbank Has Completed Gold Repatriation From New York Fed, Three Years Ahead Of Schedule

Tyler Durden's picture

In January of 2016, the Bundesbank announced that three years after commencing the transfer of some of its offshore-held gold from vaults located at the Banque de France in Paris and the NY Fed in New York, it had repatriated a total of 366.3 tonnes, bringing the German central bank's gold reserves held in Frankfurt to 1,402 tonnes, or 41.5% of Germany's total gold of 3,381 tonnes, for the first time greater than the 1.347 thousand tonnes located at the New York Fed, which as of January 27, 2016 held 39.9% of Germany's official gold.

"With approximately 1,403 tonnes of gold, Frankfurt has been our largest storage location, ahead of New York, since the end of last year," said Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank. "The transfers are proceeding smoothly. We have succeeded in once again significantly increasing the transport volume compared with 2014. This means that operations are running very much according to schedule," added Thiele last January.

As a reminder, according to its gold storage plan, unveiled in January 2013, the Bundesbank would store half of Germany's gold reserves in its own vaults in Frankfurt am Main by 2020 which would  necessitate a transfer to Frankfurt of 300 tonnes of gold from New York and all 374 tonnes of gold from Paris. It also meant that as of January, another 111 tonnes of gold from the NY Fed and 196.4 tonnes of gold from Paris remained to be transfered.

The "politically correct" motives for the transfer, as well as the logistics and the mechanics behind it were explained in a March 2015 video released by the Bundesbank...

... the real reasons, however, is that following several reports on this website which cast doubts on Germany's gold holdings, in late 2012 the German Court of Auditors demanded that the Bundesbank undertake an audit of its gold reserves. Specifically, the court wanted to ensure that the nearly 3400 tons of gold, of which more than 2,000 tonnes held offshore, is in fact in existence - 'because stocks have never been checked for authenticity and weight'.  The move to repatriate was only accelerate following rumors that much of the offshore-held gold might have been "rehypothecated", and not be there anymore, that it might have been melted down, leased, or sold.

Ironically, at the time, Bundesbank Board member Carl-Ludwig Thiele told the Handelsblatt that these moves were a “trust-building” measure, and he tried vigorously to put the rumors about the missing gold to rest. Of course, repatriating your gold from foreign central banks is precisely the opposite of a "demonstration of confidence."

What made matters worse is that at the end of 2013, the Bundesbank announced it had managed to repatriate only 37 tonnes of the total 700 scheduled for redemption, further spooking the local population and suggesting that conspiracy theories that the gold was missing were in fact accurate.

As a result, following blowback from both the media and the public, the Bundesbank accelerated its activity, and repatriated 120 tonnes in 2014 and another 210 in 2015, implying that the Bundesbank's faith in its foreign central bank peers had declined in inverse proportion to the following accelerated redemption schedule as of January 2016.

* * *

Then, in an update last December, Germany's Bild reported that in 2016 the Bundesbank has repatriated "more of its gold than planned", as it moves toward relocating half of the world's second-largest reserve at home. "We brought back significantly more gold to Germany in 2016 again than initially planned. By now, almost half of the gold reserves are in Germany," Buba president Jens Weidmann told the German publication. According to Bild, around 1,600 tonnes of Germany's gold reserves are now in the country, a figure set to rise to 1,700 tonnes by 2020. This, according to our recent calculations, meant that the Bundesbank repatriated roughly 200 tonnes of gold in 2016, comparable to the 210 tonnes its brought back to Frankfurt in 2015, and the total held domestically  amounts to 1,600 tonnes at the end of 2016.

Fast forward to today, in a press release, the Bundesbank provided an official update of its gold holdings, and our analysis was accurate: the German central bank said it had "successfully continued its transfers of gold last year", and in 2016, more than 216 tonnes of gold were transferred to Frankfurt am Main from storage locations abroad: 111 tonnes from New York and 105 tonnes from Paris.

This would make 2016 the year of fastest gold repatriation, with the 216 tons of gold transfered, higher than the previous record of 210 in 2015. Altogether, the Bundesbank, has now transfered a total of 583 tonnes, or 86% of the 674 tonnes planned in total.

Most importantly, as of December 31, the Bundesbank has now completed all of its scheduled gold withdrawals from the NY Fed, having repatriated a total of 300 tonnes, some 3 years ahead of schedule.

"The transfer of gold from New York was completed successfully last year," said Carl-Ludwig Thiele, Member of the Bundesbank’s Executive Board. "The transfers were carried out without any disruptions or irregularities. The gold storage plan for New York, which envisaged the transfer of 300 tonnes of gold from New York to Frankfurt, was fully realised in 2016," Mr Thiele stated.

The Bundesbank also said the repatriation of gold reserves back home was "considerably ahead of the origianal schedule" and as Thiele added "We will be able to complete the transfer of gold from Paris this year too." Which considering there is only 91t of gold left in Paris, or less than Germany withdrew in 2015 and 2016, should be relatively easy.

In summary, as of the end of 2016, the Bundesbank had 47.9% of its gold in Frankfurt - just 2.1% shy of the the planned 50% - 36.6% at the Federal Reserve Bank of New York, 12.8% at the Bank of England in London, and 2.7% at the Banque de France in Paris.

Why this unexpected scramble to repatraite so much gold 3 years ahead of the 2020 stated schedule, remains a mystery.

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IronSights on'um's picture

get yer metal before the paper dies

boattrash's picture

Yeah, let's see how a dull drill bit goes through a few of 'em.

Uchtdorf's picture

Of course the government, German in this case, could be lying.

NoDebt's picture

Just means that the Germans received everyone else's gold that's also being held at the Fed.  I think that Zee Germans were right to panic first.


NoDebt's picture

This should also be an object lesson for everyone here that when you build your own little gold stash you do so QUIETLY AND KEEP YOUR DAMNED MOUTH SHUT ABOUT IT.


Kotzbomber747's picture

So much for all the drama and "end-of-the-world" scenarios here on ZH...

"Why this unexpected scramble to repatraite so much gold 3 years ahead of the 2020 stated schedule, remains a mystery."

Simple: they provide a false time line in order to not upset markets and/or forewarn possible criminals who want to steal any gold. Watch the video from 5:55 onwards, the guy explains the security and insurance risks of the transports, so it's only logical that they want to confuse possible robbers who thought they had until 2020 to make their move, and now suddenly fund themselves too late at the party.

Pinto Currency's picture

Germany's repatriated gold wasn't from the NY Fed but from Swiss refiners - and that's well known.

J S Bach's picture

Great!  Now that our fears are fully allayed by this show of good faith with regards to Germany's gold... let's have that full audit of every bar presumably held in Fort Knox.

The Saint's picture
The Saint (not verified) J S Bach Feb 9, 2017 1:07 PM

All this gold!  I wish I had a ton of gold.  :-(

misterkel's picture

Does anyone have a source for this claim of the gold coming from Swiss refineries?

shamus001's picture

LOL - oh.... they've just begun!

Why did they repatriate ahead of schedule so grossly if the markets weren't going to completely collapse in 2017?

Why didn't they repatiate ALL of it at once? (that gold belongs to the govt/people so dont give me that $hit about insurance) - s single destoyer group could have sailed to NY on a visiting mission. (like the Russians did in 1990 to Fla) and 300 measly tons could have been transported in a cargo group no larger than the presidents escourt, which is very common, wherever he goes.

The gold DIDNT EXIST.  IT WAS REHYPOTHICATED and thats why they needed so much time to scrape it up. (without disturbing markets as you so elequently put it) because if the gold WAS STORED (with their original ser#s) there wouldn't be a single blip on the markets.  No it took this long because they had to buy it, steal it, and manipulate markets to get their greasy hands on it first. (not to mention stand in a chinese swiss line)

The first and second batches of bars look VERY SUSPECTING, ....(to put it extremely light) their colors range in variation (IE: purity) and the original ser#'s are not on those bars.  THIS ANSWERS YOUR QUESTION. = THOSE AREN'T THE BARS THEY DEPOSITED.

While im rollin with conspiracy facts here, I might as well add in that with Trump not continuing the globalist agenda, and nations everywhere turning inward, it is very likely that 1. Germany plans on becoming hostile towards America. 2. Germany plans on EU breaking up and needs ALL GOLD to back local currency 3. Germany doesn't plan on war with Russia (really) because it knows that America wont back it, therefor there's no need to hold gold overseas. or 4. Germany plans on LEADING the war machine which will be politically opposed by America, so they need their gold to finance a politically unacceptable position. (that's reaching a bit there, but don't rule anything out)


HowdyDoody's picture

So now we know the quid pro quo for the Merkel Muslim invasion and destruction of Europe.

Yog Soggoth's picture

Actually they just brought it back to share with all of the other EU members, that's how it works right? One big rich club.

Kotzbomber747's picture

So all the drama here on ZH was just bullshit again ey?

cheech_wizard's picture

Trust, but verify.


Ronald Reagan's ghost.

Buck Johnson's picture

Exactly, and there is n o guarantee that the German govt. is telling the truth that the gold has been given back to them.  When you only get 75 tons out of the 700 you where supposed to get aka defaulting on the first payment, then it doesn't show confidence.  The media and the banks are whistling through the graveyard on hope that nothing happens that makes a massive run on the banks.  But always remember, every monster they manage to take out there is always the one that is lurking  under the black ocean and waiting to emerge. 

We won't be ready for this monster that comes for us.


SafelyGraze's picture

the speakers at the beginning of the video are not very diverse

germany, you can do better than that

zwarte piet 

New World Chaos's picture

"This is a temporary lapse for which we profusely apologize.   We assure you that our hearts are in the right place.  We're working very hard to fix the problem of our existence.  Look, we pulled out all our gold just before Hitler could nationalize it, and we are going to give it to the Caliphate as penance for being German.  We're also helping the Swedes to tie themselves to the PC altar as atonement for their many sins- the worst of which is that they look like us (for now).  The French have 58 nuclear reactors upwind of us and we are helping them import a bunch of Somali nuclear engineers and give them affirmative action jobs in these power plants.  These Somalis are our retirement plan.  They will surely repay our generosity when we need someone to wipe our asses because we stopped having children in order to pay the Somalis to have 8.  The Jews told us all of this so it must be true.  They are an honest and forgiving people, chosen by God to lead us.  So sayeth the Jews."

shamus001's picture

I marked you up because most of what you said is funny and to date, pretty much on the mark.  But I have a question to those who are Jew haters (far beyond what is even acceptable) - Why would the jews lead the western tolerant world (which they supposedly rule financially and politically) to make the decision to destoy themselves, giving their lands over to the enemy (islam) which would have ahnniliated them long ago, if not for the protections of the WEST?

In the famous words of Jesus "If Satan cast out Satan, how can his kingdom stand?"

If Jew cast out jew ruled western lands, by filling them with the enemy, wouldn't jew be destroying jews rulership?  And why would jew give that rulership over to jews sworn enemy who desire nothing but destruction of all jews?

DUDE- THIS IS WHAT YOUR SAYING- AND THIS IS THE JEW HATE THAT FILLS THIS BOARD, It's ALMOST left-wing nuttiness!  I'm just a Portguee-American, and as a 3rd party here I gotta tell you, the 2-way hate speech doesn't make sense at all!  Especially when it comes from the same lips?  Like you, lol, your contradicting yourself in the same sentance lol!

New World Chaos's picture

The end goal is the world financial dictatorship described in the Book of Revelation.  In order to pull it off, they first need to eliminate the people who are most likely to figure it out AND do something about it.  White Christians must be destroyed.  They will do it by getting America and Russia to nuke each other, or by getting the West to bomb Muslims and then welcome them in, while pretending that Muslims won't take bloody revenge as soon as they have enough welfare babies to pull it off. 

They also know the world financial system is a giant Ponzi scheme on the brink of collapse.  They designed it.  They don't want to take the blame when it all goes down.  They need a scapegoat, like WWIII, or civil wars which the (((media))) will blame on the deplorables. 

If they have to, they will try to take advantage of fascism in the West so as to wage WWIII against the Middle East.  Google Albert Pike three world wars. 

They have multiple chess pieces lined up for mass slaughter, financial collapse, and getting people to beg for world goverment.

As for the whole Jew-Muslim thing:  At this point, they both hate us more than they hate each other.  You can see it in Liberal-Muslim alliance.  Seriously, WTF.  Yet there it is.  Pedophilia leverage might have sealed the deal at the top.  Muslims aren't squeamish about this.  There are quite a few other things that fit-  The Muslims are totalitarians.  They have their own version of the NWO.  They tolerate degenerate elites while beheading the little guy.  They aren't too bright but always willing to fight.  There are a lot of degenerate imams who will make any kind of fatwa.  I think the Jews see them as the next host.  If the puppetmasters get kicked out of the West, they will move to the Middle East and control the Western muslims as a 5th column for the NWO.

There is the Coudenhove-Kalergi plan, in which the Jews decided to flood Europe with hordes of munters, so as to make a dumbed-down mixed race that is easier to rule.


Jews believe that it is easier for them to hide in a multicultural society, it is easier to control a nation if there is no strong national identity, and it is easier to control people who can be divided against each other for scraps of free shit.


The big jews (the ones running the agenda) know that they will never be robbed by the diversity, so they don't care if the diversity attacks the little Jews.  Little Jews will still support the agenda though- most of them are Lenin's useful idiots, and they are also very loyal to their leaders, even though their leaders have thrown them under the bus in the past and will surely do it again.

We need to make sure they NEVER get such ideas ever again.  Unfortunately, the only way to do this would be to seal off the cities, stop EBT and watch everything burn.  Even then, thanks to (((education))), cultural marxism would come back within a few generations.

New World Chaos's picture

"Well, I think I pulled that off without committing thinkcrime <snicker>.  Let's close up shop.  Epstein is in town and he's throwing a pizza party at Merkel's place.  There will be plenty of walnut hot dogs with dominos on top.  You up for it?  Crap, is this thing still on?" <tap tap>

ShorTed's picture

If you can't touch it, you don't own it.  Congrats Bundesbank

actionjacksonbrownie's picture

Independent audit or it didn't happen.

Wang Dang SP's picture

The audit request is from the Greek Central Bank.

cossack55's picture

Is that not about the same amount that was liberated from Ukraine?

boattrash's picture

At first I was thinking Libya, but you're probably right, as The Clinton Foundation likely has most of that gold.

Peter41's picture

Only temporarily. The Clintons and their cash cow, their "charitable" foundation will soon be the subject of a special prosecutor's attentions, now that Sen. Sessions is the attorney general, instead of the Clinton crony, Loretta Lynch.

HenryHall's picture

I don't think it is known publicly what happened to Libya's gold.

We do know there was a huge amount of it because Muamar Gaddafi had announced his intention to take Libya's currency back onto the gold standard shortly before the outbreak of the civil war in Libya.

Some say there is still gold in vaults in Libya that no-one has been able to break into. I don't believe that for one minute.

boattrash's picture

Arkansas has Crater of Diamonds State Park, the only diamond mine in the USA that is open to the public. Many years ago WJC sent in a commercial mining company to "test mine" several strips through the field, in hopes of selling out to commercial operators.

The report on the findings was extremely detailed, with ONE exception...what they did with the diamonds. I'll bet you a Frankie that the Clintons wound up with some of them. If there's something to be stolen, the Clintons are on it like white on rice.

Yog Soggoth's picture
 Then gave to this guy to sell to Kahn? maybe. She still expresses interest in the local gems, and that one in particular. The Kahn Canary Diamond - The World of Famous Diamonds

famousdiamonds.tripod.com/kahncanarydiamond.html     Good pic of her glee at wearing it.

Kahn Canary Diamond Famous Jewelry - Internet Stones.COM


boattrash's picture

Thanks for the links. Can't wit to check 'em out.

Grimaldus's picture

I remember seeing a figure of 144 tons of gold in Libya before Hillary Clinton led the charge to destroy the country and Qaddafi's gold dinar.













HenryHall's picture

No, only 32 tonnes was liberated from Ukraine.

Suspiciously, and in the same month that it left Ukraine, the Bundesbank repatriated 31.5 tonnes from New York to Frankfurt.

The other half tonne of gold seems to have evapotated into thin air.

cossack55's picture

Thanks for the correction.  I have no memory left.

boattrash's picture

Henry, as to that other half ton, I like to call it "shipping and handling fees".

peddling-fiction's picture

More man-handling than shipping.

actionjacksonbrownie's picture

300 tonnes. Isn't that about the same amount that Venezuela coughed up last year as collateral for a loan??

Just a mere coincidence I'm sure.

actionjacksonbrownie's picture

Mere conjecture on my part, but it is plausible that citi received a boatload of precious from Venezuela as collateral for loans, then promptly leased it to the fed, who promptly shipped it off to Germany. Since we can't see the feds books, we will likely never be able to verify, but it makes sense, and is a win-win for the banksters. Now, citi keeps the Gold on it's books as an asset, and Germany also keeps it on their books as an asset. And the fed? They don't care - they are un-accountable to anyone (except their masters/owners).

HenryHall's picture

Yes, it appears that Germany has "completed" its repatriation of physical gold owned by Germany since the 1950s and held for it for safe keeping in New York and Fort Knox by acquiring the physical gold of Ukraine and of Venezuela. There is no evidence to suggest that any gold has been shipped from the German bullion alleged to be held in Fort Knox or New York.

Although its likely that when Venezuela repatriated its gold in 2011 that did come from Fort Knox etc. Perhaps the last of it. Venezuela does mine some gold also to add to the mix.

If Trump was any good he would order a public audit of America's physical gold. Irrespective of whether it exists or not, either way it is good for him to do this right away. If he delays he must delay forever, he is then ensnared.

shamus001's picture

To what purpose? Destroy the U.S. currency overnight? That doesnt siund like a wise way to prosperity.

Maybe he would like to be penned as the first president to single handedly destroy Americas currency by bringing its insolvency to light?

Hiw would that benefit you?

Bad things get brought into view, but why purposefully shine light on your own nations corruption which would cast your childrens future into a fiscal darrk age, likely followed by world starvation, financial collapse and world wars for hegemony?

Do you not know when yhe guy on top falls, there is a battle to take their spot? If your children MUST starve, if the game MUST end, why rush to meet it?

Raffie's picture

People have this mind set "I can go to Billy Bob's and still buy 3 silver coins so whats the big deal? I will wait and see." My reply is "Well once the announce the PM price going nuclear you will not be able to find it, so good luck with your method."

VIS MAIOR's picture

But before eu paper die )) no usd..   greeks prepare for drachma. lpen go up.. ))

Bill of Rights's picture

Ya but goldis not money we were told...

Raffie's picture

Exactly because you can't eat it.

So I will offer to buy all your gold for the generous price of $0.10 on the dollar, that is my solid square deal to you sir.

shamus001's picture

Those fools dont oen any REAL money. Thays why they dont understand it...or is it the other way around?

Like people who poke fun at drinkers. Thry themselves never had a drink and call the partiers fools. Finally when they embibe their first drink, they finally see what the fuss was about, and they stop judging.

I dont reccommed trying crack tho. Iys way overrated! /sarc