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The Dutch Ask Their Central Bank: "Where Is Our Gold?"

Tyler Durden's picture




 

Think Ron Paul is the only person asking questions about the actual gold supposedly backing the currency in circulation. Think again: the "ask your central banker where his gold is" tour just went global after the Dutch the Dutch Socialists Party (SP)’s spokesman for financial affairs, Mr. Ewout Irrgang, asked the Dutch Secretary of the Treasury 10 detailed questions about the gold supposedly held by the Dutch Central Bank. Questions vary from: where is the gold? why are gold and gold receivables one line item? how much gold is loaned out? As Dutch website Vrijspreker.nl points out, "This is potentially a big breakthrough for global awareness on how central banks hide crucial info from the public and the disastrous effects central banks have on society." Is Belgium next to ask the same question in a vain attempt to understand just how much of its gold is permanently "lent out"? And after Belgium, everyone else with a central bank perhaps?

The Questions:

1 Did the Dutch Central Bank (DNB) loan part of their gold? If yes, how much and to whom?

2 Why are gold and gold loans stated as one line item in the annual report 2010 instead of mentioned as 2 separate items?

3 Can you give an overview of the yearly yields of the gold loans during the past years?

4 Where IS the physical gold of DNB? At which locations and how much is where? What is the reason that the gold is still at these locations?

5 What was the most important reason for DNB to sell the gold in the past? Are the storage costs a reason? What are the actual costs to store the gold?

6 Can you confirm that since 1991 of the 1700 tons of gold about 1100 tons have been sold? Is the remark of journalist Peter de Waard correct that because of these historic sales there is a loss of about 30 billion euro? If not correct, what is the right amount?

7 How much of the National Debt has during the past 20 years been paid off with the proceeds of the gold sales? Are you of opinion that the sustainability of the national debt will be improved by paying off the debt and at the same time selling the gold?

8 What is in your opinion the present function of the gold stock?

9 What is the relation between the size of the market of the gold stock and the size of the market of gold derivates? What are the possible consequences of this?

10 Can you confirm that recently a number of countries have even enlarged their physical gold stock? Do you have an explanation for this development?

h/t Paul

 

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Sun, 09/18/2011 - 15:13 | 1682430 Thomas Jefferson
Thomas Jefferson's picture

Germany knows who has their gold.  All 6000 tons of it.  Uncle Sam b_tchez!  Lets just call it war reparations.

Sun, 09/18/2011 - 15:18 | 1682448 Spitzer
Spitzer's picture

I doubt the Euro gold will be there for long. Bretton Woods 1 collapsed and gold left New York. Looks like Bretton Woods 2 is collapsing and it looks like the Dutch will be shipping gold out of New York.

Sun, 09/18/2011 - 15:21 | 1682458 unky
unky's picture

All they will get is gold plated tungsten. But that even wont happen. The Fed will soon bail out Europe and take the Gold which is already in New York as colletaral. In that way they dont need to show to the public that they dont even have the real stuff.

Sun, 09/18/2011 - 15:44 | 1682542 Thomas Jefferson
Thomas Jefferson's picture

Indeed.  Take as many crates of FRN's as you need.  Hell we will throw in shipping and handling.  We will take that shiny stuff you have in the bed rock of NYC as collateral.

Sun, 09/18/2011 - 15:57 | 1682590 X.inf.capt
X.inf.capt's picture

who's got the gold?

the evil ZH'ers, thats who!

 

(unless they made tungsten gold plated eagles, A.T.E.'s)

Sun, 09/18/2011 - 16:46 | 1682751 Pladizow
Pladizow's picture

Dont the answers depend upon what the person answering defines "Gold" as?

The first question should be: How do you define gold?

Sun, 09/18/2011 - 17:24 | 1682802 X.inf.capt
X.inf.capt's picture

my good lookin' redheaded girlfriend, secondly my silver junk dimes.

someday ill tell ya'll what some of these new vets said they found 'overthere' early in the war.........

Mon, 09/19/2011 - 17:58 | 1686306 Smiddywesson
Smiddywesson's picture

nm

Sun, 09/18/2011 - 17:03 | 1682817 flacon
flacon's picture

"It depends upon what the meaning of the word 'isis"

Sun, 09/18/2011 - 20:30 | 1683268 Pool Shark
Pool Shark's picture

 

 

No Gold, Bitchez...

 

Mon, 09/19/2011 - 00:21 | 1683545 X.inf.capt
X.inf.capt's picture

DING, DING,DING

one hell of a mint, makin' counterfeits

not just a.t.e.'s , 

Sun, 09/18/2011 - 22:37 | 1683551 X.inf.capt
X.inf.capt's picture

.

Sun, 09/18/2011 - 21:25 | 1683384 goldfish1
goldfish1's picture

Gold in the bedrock of NYC? It is said that gold was removed prior to the collapsing of the towers.

Sun, 09/18/2011 - 16:00 | 1682602 Spitzer
Spitzer's picture

The French got their gold last time.

Sun, 09/18/2011 - 16:40 | 1682735 cynicalskeptic
cynicalskeptic's picture

The French had nukes.....just sayin...... despite all the 'cheeze-eating surrender monkey' cracks, DeGaulle was willing to kick ass

Sun, 09/18/2011 - 17:00 | 1682804 Caviar Emptor
Caviar Emptor's picture

He called their bluff. So did the Brits. Both of those countries knew what end-of-empire looks like. When the Vietnam war went into it's 2nd decade with committment of 1/2 million troops, they knew money printing would go nuclear

Sun, 09/18/2011 - 23:52 | 1683649 Tompooz
Tompooz's picture

The Dutch also know a thing or two about "end of empire".  Mostly that initially it is cause for despair, but later it is found to actually be a relief. Now about that gold...

Sun, 09/18/2011 - 21:37 | 1683419 DoChenRollingBearing
DoChenRollingBearing's picture

@ Spitzer

+ $1840 and green

Yes, NOW would be a good time for one of the depositors of gold there at the NY Fed to ask for their gold back.  Call it a test run.  First time there is a FAIL in physical gold delivery, that might be the time when we see the huge price spike.

So, yeah, Holland or Belgium (or even Germany): tell them you want your gold!  At least some of it.  Let us know in advance so we can buy our popcorn...

Sun, 09/18/2011 - 22:54 | 1683576 Ahmeexnal
Ahmeexnal's picture

There is a reason why Europe's gold is in the US: Uncle Sambo took Europe's gold as collateral for the Marshall Plan...which Europe has never paid back.

Sun, 09/18/2011 - 23:49 | 1683644 Newsboy
Newsboy's picture

Ahmeexnal,

You are misinformed about the payment of Mashall Plan debts.

Why German gold may be in New York, as Max Keiser was told at the Bundesbank the day Bear Stearns went down, is another question...

Mon, 09/19/2011 - 00:37 | 1683692 Ahmeexnal
Ahmeexnal's picture

You believe the version the governments hand out to keep the masses under control.

If the masses knew the truth....

So you have never questioned why there are still US bases in the eurozone?

You must think it's to protect euro citizens from "big bad red Russia".  It's what "they" informed you.

 

 

Mon, 09/19/2011 - 02:44 | 1683767 FlyPaper
FlyPaper's picture

Data.  Got data and data sources?  

Mon, 09/19/2011 - 05:20 | 1683839 Léonard
Léonard's picture

Uncle Sambo took Europe's gold as collateral for the Marshall Plan...which Europe has never paid back.

WHAT ?!!! Europe is paying for 60 f***** years !!

60 f***** years of American occupation that weaked Europe and destroyed the European cultures and identities. 

When will the USSA paid for their woldwide crimes and the extermination of the Native Americans ? THAT's what we all want to know.

 

Mon, 09/19/2011 - 13:19 | 1685251 earnulf
earnulf's picture

Ah, the misinformed of the world.

The "native Americans" as you call them, are opening and running casinos all across the nation on "tribal lands" and sucking the retirement and unemployment checks from the masses.     They have not been exterminated and have spent the last hundred years figuring out the system so that they don't have to work and get free services because they belong to a tribe.

Trust me, the 24 dollars worth of beads is coming back in spades (and diamonds and clubs and hearts)

Sun, 09/18/2011 - 15:58 | 1682457 Hammer Time
Hammer Time's picture

Page 7 mentions a lot:

 

http://www.dnb.nl/binaries/goudbeheer%2520van%2520DNB_tcm46-146095.pdf

 

( Google translation )

In the 2003 annual report, President DNB Wellink, the Dutch announced plans for CBGA II. Apart from the overflow of 65 tonnes from the first agreement, DNB will also sell another 100 tonnes. In January 2005 with the first installment of this started. Early 2005 had DNB 777.5 tons of gold, after the sale of 165 tonnes in 2009 to 612.5 tonnes of gold held thus.

Where is the Dutch gold?

In the conversion from dollars to gold, the gold received DNB at the Federal Reserve Bank New York. This setting served as the Bretton Woods exchange counter. because the vaults of the Federal, built upon the rock of Manhattan, is the strength of the vault floor and, therefore, very much gold in the vaults are stored. Since the central banks that received the gold in their vaults often inadequate storage capacity, they let it lie in New York. The vast majority of Dutch gold stock was initially held at the Federal Reserve Bank of New York and not, as so often thought of in Fort Knox in the U.S. state of Tennessee. This safe, familiar from the James Bond film Goldfinger, is the U.S. gold stored. In addition, DNB gold lie with the Bank of Canada and the Bank of England. A small part of the Dutch gold is in the vaults of the Frederiksplein DNB in Amsterdam. The DNB gold sales have so far been mainly borne by the stock in New York.

http://www.dnb.nl/binaries/goudbeheer%2520van%2520DNB_tcm46-146095.pdf

Sun, 09/18/2011 - 16:33 | 1682706 pain_and_soros
pain_and_soros's picture

Dutch should have no problem with their gold being stored in old New Amsterdam

Sun, 09/18/2011 - 16:44 | 1682745 cynicalskeptic
cynicalskeptic's picture

Except it's in FRBNY vaults - if 'Possession is 9/10's of the laqw" than the NY Fed has a hell of a lot of gold - even if technically it''s owned by independent sovreign nations.  Was still there as of the late 1980's - segregsaed in nice little cages.  Most of European gold had those little Reichsbank Nazi Eagles stamped onthem - a souveneir of former 'temporary' ownership.   But now?  can't vouch for it.   

Sun, 09/18/2011 - 16:49 | 1682763 Pladizow
Pladizow's picture

As most of the gold is at Fort Knox and West Point, and as you said "Posession is 9/10's of the law - the US Military therefore owns the gold!

Sun, 09/18/2011 - 17:22 | 1682860 flacon
flacon's picture

Pardon me if I am mistaken, but doesn't the gold belong to the Treasury, NOT the Federal Reserve Bank (according to Jim Rickards)?

 

...then again, the Fed and the Treasury are about one and the same (re: Geithner double dipping in both vaginas)

Sun, 09/18/2011 - 18:32 | 1683034 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

In a republic the gold is owned by the citizens.  Those in the government are supposed to be our servants.  They are overseers.  We are the owners!

Sun, 09/18/2011 - 22:28 | 1683529 cynicalskeptic
cynicalskeptic's picture

"Those in the government are supposed to be our servants. "

Yeah..... and the meek inherit the earth. Dream on.  The new serfdom is coming, a new dark ages where freedom is surrendered for a bowl of gruel.

Mon, 10/03/2011 - 13:12 | 1733659 NotApplicable
NotApplicable's picture

Will it be warm gruel?

Mon, 09/19/2011 - 03:01 | 1683778 FlyPaper
FlyPaper's picture

Treasury is supposed to own the gold, but it is all under the control of the Federal reserve, either at Ft. Knox or Manhattan (per several sources).  I believe the American people own the gold.  I would not be suprised if the Fed has "bullion banked" the gold and sold or leased the gold multiple times and/or liquidated the metal to suppress the price (conjecture, obviously, but based on other C-banks and recent cables and admissions that the Fed suppressed the price of gold).

Sun, 09/18/2011 - 17:38 | 1682907 anonnn
anonnn's picture

Credibility gap? Ft. Knox, Tennessee?

Ft. Knox is in Kentucky, nearLlouisville.

Mon, 10/03/2011 - 13:14 | 1733664 NotApplicable
NotApplicable's picture

Ssshhhh!!!! It's all part of the super-secret disinfo campaign to confuse the foreigners.

Sun, 09/18/2011 - 17:42 | 1682918 zhandax
zhandax's picture

Can you imagine the shitstorm if the Treasury Secretary told the truth?  "We knew we would never get the metal back from FRBNY so we sold what was there."

Mon, 10/03/2011 - 13:14 | 1733667 NotApplicable
NotApplicable's picture

A hundred times over.

Sun, 09/18/2011 - 20:13 | 1683227 Reptil
Reptil's picture

The questions are still valid.

Sun, 09/18/2011 - 21:08 | 1683350 sgorem
sgorem's picture

Fort Knox, Kentucky....................

Sun, 09/18/2011 - 17:01 | 1682807 William113
William113's picture

Nope your WRONG BITCHEZ!!! The joose have it at the NY Fed. If the German gold is war reparations then why does the Fed have our gold?

Sun, 09/18/2011 - 17:39 | 1682908 EINSILVERGUY
EINSILVERGUY's picture

Did I miss something ? The Dutch is the country of the Netherlands. Germany's a little to the east

Sun, 09/18/2011 - 17:40 | 1682911 EINSILVERGUY
EINSILVERGUY's picture

Did I miss something ? The Dutch is the country of the Netherlands. Germany's a little to the east

Sun, 09/18/2011 - 19:46 | 1683170 Solid
Solid's picture

11) What are we going to do when we discover that there is no gold, are we completely fucked?

Mon, 09/19/2011 - 06:05 | 1683852 Prometheus418
Prometheus418's picture

That's what silver is for.

Mon, 09/19/2011 - 18:13 | 1686347 Smiddywesson
Smiddywesson's picture

Then let them eat cake

Sun, 09/18/2011 - 15:14 | 1682433 Spitzer
Spitzer's picture

2 seperate answers for each question. The physical answer and the unallocated answer.

Sun, 09/18/2011 - 15:22 | 1682463 Freewheelin Franklin
Freewheelin Franklin's picture

100:1?

Sun, 09/18/2011 - 21:40 | 1683424 DoChenRollingBearing
DoChenRollingBearing's picture

Green

I have seen this approximate ratio in one or two other forms as well.  They all speak to a severe shortage of the real thing: physical gold.

NOW is a good time for those without any to get some.

Sun, 09/18/2011 - 15:15 | 1682436 unky
unky's picture

It doesnt even matter where the Gold of one's coutnry is. THe people will never see it anyway as the people in power keep it all for themselfes.

Sun, 09/18/2011 - 15:16 | 1682439 Captain Benny
Captain Benny's picture

We won't get answers to these questions.  If we do, you sure as hell can bet the answers will be deflecting responsibility on others.

Sun, 09/18/2011 - 15:22 | 1682460 DeadFred
DeadFred's picture

Sorry we no longer have any gold. It was sold by a 31 year old Nigerian intern.

Sun, 09/18/2011 - 16:03 | 1682613 pvmuse
pvmuse's picture

Hey, but no worries, he's in jail now, satisfied?

Sun, 09/18/2011 - 15:17 | 1682441 CapitalistRock
CapitalistRock's picture

Those who use a fiat currency as a store of wealth are phenomenal idiots. History has shown this to be a mistake going back thousands of years.

Own some gold or be sorry. It's not gonna be different this time.

Sun, 09/18/2011 - 17:05 | 1682821 Caviar Emptor
Caviar Emptor's picture

Yup. Trust me. I'll give you paper in exchange for those products you sell. This paper is worth more than the paper it's printed on. Trust me. 

Sun, 09/18/2011 - 18:09 | 1682989 porrannor
porrannor's picture

Well, Uncle Ben doesn't think so. He thinks that gold is a trinket.... And he knows best... Our Uncle Ben...

Sun, 09/18/2011 - 15:17 | 1682442 Haole
Haole's picture

The gold is under that walnut shell.  Well... On paper.

Sun, 09/18/2011 - 16:05 | 1682619 Manthong
Manthong's picture

The gold is around the fingers, wrists, necks, and ankles of a half billion Indians. 

Sun, 09/18/2011 - 20:37 | 1683283 ik999
ik999's picture

smelly gold!

Sun, 09/18/2011 - 15:17 | 1682444 Buckaroo Banzai
Buckaroo Banzai's picture

Socialists asking where the gold is? Won't be safe with them, LOL

Sun, 09/18/2011 - 15:24 | 1682471 The_Euro_Sucks
The_Euro_Sucks's picture

Lol, politics is fucked up over here. Atm the left is more pro small business and freedom minded then the official defenders of it (the liberals). The liberals are only there for the Euro kleptocrats and the policestate. Fuck the regulars love the elite they stand for. So sad... A well we will have to cope someway.

Sun, 09/18/2011 - 15:19 | 1682449 malikai
malikai's picture

Question: Where is our gold?

Answer: Venezuela.

Sun, 09/18/2011 - 20:14 | 1683233 Reptil
Reptil's picture

ouch

Sun, 09/18/2011 - 20:27 | 1683259 Long-John-Silver
Long-John-Silver's picture

Not yet! JPM and HSBC are still scrambling to find enough to placate Hugo Chavez.

Sun, 09/18/2011 - 21:11 | 1683355 sgorem
sgorem's picture

via Libya a couple of weeks ago...............

Mon, 10/03/2011 - 13:21 | 1733703 NotApplicable
NotApplicable's picture

Or stalling, while waiting for his "treatment" to take effect.

Sun, 09/18/2011 - 15:18 | 1682450 Fix It Again Timmy
Fix It Again Timmy's picture

Matters not, peons.  Why show interest in a barbaric relic? Move along, nothng more to see....

Sun, 09/18/2011 - 15:19 | 1682451 Hman
Hman's picture

These are conspiracy minded questions, we will address them in a closed session... Next question please.

Sun, 09/18/2011 - 15:20 | 1682456 Hman
Hman's picture

How Dare You ....

Sun, 09/18/2011 - 15:27 | 1682483 richard in norway
richard in norway's picture

question 9 got my attention

Sun, 09/18/2011 - 15:37 | 1682523 Bam_Man
Bam_Man's picture

And NOBODY knows the answer to that one.

Sun, 09/18/2011 - 16:47 | 1682755 cynicalskeptic
cynicalskeptic's picture

Given the size of the total derivatives market,  it's probably an absurd ratio........

Sun, 09/18/2011 - 18:42 | 1683058 Temporalist
Temporalist's picture

They don't want to know.

Mon, 10/03/2011 - 13:26 | 1733720 NotApplicable
NotApplicable's picture

Just wait for the follow-ups. They're far more difficult.

“What is the air-speed velocity of an unladen swallow?”

 

Sun, 09/18/2011 - 15:27 | 1682484 americanspirit
americanspirit's picture

What matters is that the coalition of silence in high places is breaking down. I lived in the Netherlands for years and I can assure you that this gentleman is not playing games - he will keep at it until he get the answers he demands. May he inspire many, many others to do the same.

And until you actually understand what 'socialist' means in the context of Dutch politics may I suggest you keep any snarky comments on socialism to yourself? Hint - it's kind of like the meanings of 'liberal' and 'conservative' in the UK.

 

Sun, 09/18/2011 - 17:24 | 1682869 toothpicker
toothpicker's picture

He should probably avoid airplanes, helicopters and cars from now on

Sun, 09/18/2011 - 22:59 | 1683582 Ahmeexnal
Ahmeexnal's picture

Pim Fortuyn started making similar questions.

His corpse ended up floating in a canal in A'dam's RLD.

 

Sun, 09/18/2011 - 20:15 | 1683236 Reptil
Reptil's picture

100% correct.

Sun, 09/18/2011 - 15:28 | 1682486 PontifexMaximus
PontifexMaximus's picture

I had my doubts about his question raised, reading his name: Irrgang. But he asked the right question.....although his name could lead .....

Sun, 09/18/2011 - 15:29 | 1682492 Freewheelin Franklin
Freewheelin Franklin's picture

I thought Socialists and Progressive Economics were some sort of neo-Greenbackers like Ellen Brown. Why would a greenbacker care about gold?

Sun, 09/18/2011 - 15:30 | 1682496 Little John
Little John's picture

This is better than a picture show - or even the state fair.

Sun, 09/18/2011 - 15:37 | 1682519 MrBinkeyWhat
MrBinkeyWhat's picture

The Dutch had gold until they spent it all on tulips...Sorry, I couldn't resist. ;-)

Sun, 09/18/2011 - 16:52 | 1682778 Pladizow
Pladizow's picture

I'd prefer tulips on my organ, over roses on my piano!

Sun, 09/18/2011 - 15:40 | 1682531 gwar5
gwar5's picture

Would love to ask Geithner those questions but he won't sit still long enough to get an answer, and they all just lie anyway.  It's time we give them the Dutch treat.  Soon, very soon.

BTW, fiat currency and deficit spending has always been a friend and ally to the socialists, and the welfare state, so I would say this is definitely a real breakthrough.

 

 

Sun, 09/18/2011 - 15:42 | 1682535 kito
kito's picture

Lets hope those "where is your gold" questions dont find their way to u.s. citizens via the federal govt

Sun, 09/18/2011 - 20:30 | 1683267 Long-John-Silver
Long-John-Silver's picture

My wife took all my gold and silver to Vegas and gambled it away.

Sun, 09/18/2011 - 21:00 | 1683340 DoChenRollingBearing
DoChenRollingBearing's picture

Yours too???  Damn, what with bad visits to Vegas and boating accidents, it is a wonder we can hold on to any of it at all.

I feel really bad that I have no gold left, Sir.

Sun, 09/18/2011 - 15:47 | 1682544 Haole
Haole's picture

Ba dum  *chingggg*

 

Oh sorry, the joke's on you too... =(

Sun, 09/18/2011 - 17:55 | 1682950 ba dum tiss
ba dum tiss's picture

...you rang?

Sun, 09/18/2011 - 15:46 | 1682550 Mister Ponzi
Mister Ponzi's picture

"Is Belgium next to ask the same question in a vain attempt to understand just how much of its gold is permanently "lent out"? And after Belgium, everyone else with a central bank perhaps?"

@TD: The Belgian central bank - a publicly listed company (!) traded on the Brussels Stock Exchange - recently published how much gold it has lent out. I can look it up in office tomorrow, but if I remember correctly it was something around 40%.

Sun, 09/18/2011 - 15:48 | 1682559 Flore
Flore's picture

They already asked it in Belgium.. 42 % has been lend out. Still nobody seems to know who lend it out.. and to who exactly

Sun, 09/18/2011 - 15:48 | 1682560 Flore
Flore's picture

They already asked it in Belgium.. 42 % has been lend out. Still nobody seems to know who lend it out.. and to who exactly

Sun, 09/18/2011 - 15:48 | 1682561 interbanker
interbanker's picture

HEY TYLER, OR ANYONE PLEASE EXPLAIN, WHAT HAPPEN TO THE GOLD THAT HUGO CHAVEZ REQUESTED ? WHAT IT DELIVER ? OR ARE THEY NEGOTIATING PAPER IOU'S ? WHY NOTHING HAS BEEN SAID ABOUT THIS ISSUE ? AS IF IT DIN'T MATTER .....THANKS....

Sun, 09/18/2011 - 15:53 | 1682579 The_Euro_Sucks
The_Euro_Sucks's picture

No need so shout dude, here a pic of chavez holding his gold http://www.google.nl/imgres?q=chavez+gold&hl=nl&biw=1680&bih=957&gbv=2&t...

Sun, 09/18/2011 - 17:07 | 1682683 Hulk
Hulk's picture

It was mistakenly delivered to antigua, which caused the island to tip over...

Sun, 09/18/2011 - 16:32 | 1682700 mr66
mr66's picture

There is NO gold to give him...impasse...sell the front month, buy the back month w/ small posn.

Sun, 09/18/2011 - 18:02 | 1682971 cramers_tears
cramers_tears's picture

You won't hear anything about it from here on in.  Several theories have been posited - but for risk management there will be no further news of this.  http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/

You may hear at some point years from now, that VZ actually has the gold within their borders but it will be well after the fact.

Sun, 09/18/2011 - 21:09 | 1683354 DoChenRollingBearing
DoChenRollingBearing's picture

Green!  Excellent link, highly recommended.

Sun, 09/18/2011 - 22:15 | 1683498 goldfish1
goldfish1's picture

From the article:

"...the market in physical gold is tiny, and largely comprised of nutcases."

"...Which leaves one final alternative. ...Venezuela could enter into an intercontinental repo transaction, where it sells its gold in the Bank of England to some counterparty...and then promises to buy it all back at a modest discount, on condition that it’s physically delivered to the Venezuelan central bank in Caracas."

Sounds like a nutcase.


Sun, 09/18/2011 - 15:50 | 1682562 interbanker
interbanker's picture

 

Sun, 09/18/2011 - 15:50 | 1682568 The_Euro_Sucks
The_Euro_Sucks's picture

Accoring to the fight club 41% of the Belgium gold has been leased out http://www.zerohedge.com/article/41-belgian-central-bank-gold-has-been-l...

Sun, 09/18/2011 - 15:51 | 1682571 nmewn
nmewn's picture

They trusted serial currency manipulators with gold?

Sun, 09/18/2011 - 21:24 | 1683383 DoChenRollingBearing
DoChenRollingBearing's picture

+ green

We did, they did.  Time to trust ourselves now: buy gold!

Sun, 09/18/2011 - 21:31 | 1683403 nmewn
nmewn's picture

Our path is clear...we must relieve them of such a heavy responsibility ;-)

Sun, 09/18/2011 - 15:55 | 1682588 navy62802
navy62802's picture

8 What is in your opinion the present function of the gold stock?

This is the central question today. It is the question that no one is asking publicly. Central banks are stocking up on gold because they know that gold is the only time-universal currency. Gold is a currency now and has been for thousands of years. But they're afraid to acknowledge this fact. All we need is for the question to be asked.

Sun, 09/18/2011 - 15:59 | 1682597 Pool Shark
Pool Shark's picture

 

 

It follows logically that since Belgium has no government; they also have no gold...

 

Sun, 09/18/2011 - 17:37 | 1682902 Sudden Debt
Sudden Debt's picture

The question of "where is the gold" here in Belgium has been asked hundreds of times to the national wallet.

They refused to answer it every single time.

Officially this is one of the largest stocks of gold in the world. The Leopolds gold.

I bet it's all gone.

 

Sun, 09/18/2011 - 21:27 | 1683391 Epicurus
Epicurus's picture

The Belgian central bank sold 1085 tonnes of gold from 1988 till 1998 at $300-400 price range and handed proceeds over to the government to pay off debt and pay for entry ticket into the Euro.

They now have about 218 tonnes left.

Sun, 09/18/2011 - 23:06 | 1683592 Ahmeexnal
Ahmeexnal's picture

It was never Belgium's gold. It IS the Congolese people's gold.

Sun, 09/18/2011 - 21:30 | 1683402 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1840 and green

Sudden, so many times you raise a good point that is valid everywhere.  I cannot think (offhand) of ANY central bank or Treasury anywhere in the world who will let their people see their gold!  What gives here, .govs of the world?

It is a prefectly reasonable question for ANY citizens to ask to be shown (in one way or another, to ensure security of the stash) their country's gold!  Where the hell is OURS (USA)?

And they refuse to answer.  Hmm.  Is that a signal that many are short of their physical gold?  Hmm.  Could be.  What to do about it?  Keep asking and KEEP BUYING GOLD!

 

Mon, 09/19/2011 - 03:42 | 1683798 Sudden Debt
Sudden Debt's picture

Actually France does. This weekend I went to Paris and got a guided tour at the central bank and they took us down to see the country's gold.

Not that it looked that impressive and nobody got close enough to see any markings but they did show it.

 

Sun, 09/18/2011 - 15:59 | 1682598 Haddock
Haddock's picture

Maybe someone ate it.

Sun, 09/18/2011 - 20:29 | 1683263 Pool Shark
Pool Shark's picture

 

 

Oh, c'mon. You can't eat,.. uh,.. er,...  oh nevermind.

 

Sun, 09/18/2011 - 16:02 | 1682609 Smiddywesson
Smiddywesson's picture

Banks need liquidity, and yet they are stacking gold.  Probably a coincidence.

Gentlemen, I think we are running out of time to acquire cheap gold.

Sun, 09/18/2011 - 21:13 | 1683359 DoChenRollingBearing
DoChenRollingBearing's picture

+ green

I think you are right Smiddy. Gold is cheap.

If ANYONE (the Dutch, Chavez) has trouble getting their physical, they will kick up a fuss like you have never heard.  That will set off a panic rush for the real thing.  Keep stocking up!  While you can...

Sun, 09/18/2011 - 16:08 | 1682628 Reptil
Reptil's picture

Hell yeah it's about FUCKING TIME SOMEONE ASKED.
did someone put the MDMA in their lunch or something.. did they REALLY think that ALL dutch citizens would just roll over?

 

Sun, 09/18/2011 - 16:26 | 1682680 digalert
digalert's picture

Remember "where's the beef?"

Where's the gold? Damn't

Sun, 09/18/2011 - 16:46 | 1682750 hunglow
hunglow's picture

The other white meat.

Sun, 09/18/2011 - 16:29 | 1682692 mr66
mr66's picture

I have not heard of Chavez at Venezuela getting his gold at all.  delays, delays, delays...He'll never see it.

Sun, 09/18/2011 - 16:51 | 1682773 cynicalskeptic
cynicalskeptic's picture

The 'tragic boating accident" hasn't occurred yet?  A shame about all that tungsten at the bottom of the ocean - at least Lloyds of London will pay off in paper - probably on a market low day.  

Get ready for a huge dip in the price of gold when you hear that Hugo's gold has been lopaded on the boat.

Sun, 09/18/2011 - 17:33 | 1682895 Doña K
Doña K's picture

I think that it would be panic and a price spike.

Sun, 09/18/2011 - 21:16 | 1683365 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1 green

That would be my thought as well Doña K.  ANY blip in delivery of expected physical will have a whole lot of rats running around for their gold.

Bang!  Gold goes to $2500 - $3000 (as an example).  Soon after we might enter FOFOA country:

fofoa.blogspot.com

(Disclaimer: I contribute to his blog)

Sun, 09/18/2011 - 16:51 | 1682765 FinalCollapse
FinalCollapse's picture

To my nice Dutch friends,

Sorry to take all your gold, but I needed it. I am currently in Tel Aviv enjoying Russian hookers. Thanks for your gold - and fuck you all.

Goldmember

PS - you still got the windmills left.

Sun, 09/18/2011 - 17:20 | 1682858 Freewheelin Franklin
Freewheelin Franklin's picture

They got lots of hookers and blow. In the grand scheme of things, isn't that much more valuable than gold?

Sun, 09/18/2011 - 17:36 | 1682900 Doña K
Doña K's picture

May be true for a night or two. But after the high is gone and the orgasms are done. Zero

Sun, 09/18/2011 - 16:50 | 1682769 willlaughforfood
willlaughforfood's picture

i kid you not, if you go on the half day amsterdam bus tour offered by keytours, they take you past a govt building where they say 25% of the dutch national gold is located. it's this building surrounded by water.  i couldn't believe they were dispensing that factoid to tourists, but hey i was impressed, guess others would be too.  have to say though that what really broke out the cameras was the drive-by of the heineken brewery. "liquid gold "

Sun, 09/18/2011 - 16:57 | 1682795 Getting Old Sucks
Getting Old Sucks's picture

Where does the U. S. Mint get the gold for making Gold coins?

Sun, 09/18/2011 - 18:30 | 1683030 Asymptotic Asylum
Asymptotic Asylum's picture

Mount Useful, Strategic Tungsten Reserve

Sun, 09/18/2011 - 23:12 | 1683600 Ahmeexnal
Ahmeexnal's picture

They pan for gold at Knott's Berry Farm.

Sun, 09/18/2011 - 19:11 | 1683128 paleofartus
paleofartus's picture

They buy blanks from Kitco.

Sun, 09/18/2011 - 17:07 | 1682825 Caviar Emptor
Caviar Emptor's picture

Duch have plenty of gold coins. Chocolate gold coins. 

Sun, 09/18/2011 - 17:27 | 1682877 monoloco
monoloco's picture

Brother can you spare a barbarous relic for a cup of coffee?

Sun, 09/18/2011 - 18:01 | 1682966 LawsofPhysics
LawsofPhysics's picture

Dutch;  " Ollo! where is our gold?"

Banker; "Annnnnnnnd,  it gone..."

Sun, 09/18/2011 - 18:17 | 1683002 porrannor
porrannor's picture

if the lawmakers can't get the answers to these questions what's the point of having goverment. Do we have any or it's just phantom....? Matrix comes to mind... And Imaging, most laughed at Ron Puaul when he brought up the issue of gold. They still do... They also laugh when he questions the existance of FEDs... 

Sun, 09/18/2011 - 18:22 | 1683010 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Thanks goodness we don't have to question our gold supplies here in the U. S.  That 1953 full audit of our gold in Ft. Knox should still be accurate.  What can happen in a half century?!

Sun, 09/18/2011 - 18:42 | 1683059 honestann
honestann's picture

predators DBA government
predators DBA corporations
predators DBA central banks

All central banks are nothing but illusiory fronts for gangs of predators.  Virtually ALL gold from ALL countries has been stolen and hidden away in private stashes of the top level bankster predators-that-be who control the politician-level predators-that-be.

The ONLY way to have even a tiny chance of revealing the fraud is to elect RonPaul.  Even that is a risky proposition, since the top-level elitist predators-that-be would likely try to have RonPaul killed, just like they did with Kennedy.  However, given how many millions of people know what the central banksters are about today, they might be terrified that millions of gun-toting individualists would come after them.  So it is worth taking the chance.  We need something to get the re-revolution going full force.

Sun, 09/18/2011 - 21:22 | 1683375 DoChenRollingBearing
DoChenRollingBearing's picture

+$1840 and green

If Ron Paul were to win (yay!) or even if he were seriously in the running AND then they tried to "off" him, that would be a Black Swan that would drive the price of gold way high.

Quite right about the Central Banksters being worried that by stealing the gold, well then they must surely know that some of the 80,000,000 gun owners might have a bone to pick.

Yes to Ron Paul.  An even bigger YES to getting gold while you still can, at these cheap (yes, cheap) prices.

Sun, 09/18/2011 - 18:45 | 1683066 PulauHantu29
PulauHantu29's picture

Ah yes, the Yellow Metal.

If that Barbaric metal is so "unimportant" according to the bernank, why are so many CBs buying and perhaps even stealing it?

Sun, 09/18/2011 - 19:31 | 1683148 Dr. Gonzo
Dr. Gonzo's picture

What?  That's weird. Those are the same questions I would be asking if I was in the business of representing the interests of my people. Oh. right. It's not really that far fetched for normal people who have a fucking brain in their head to want to know and understand about important things that will affect their future...Like GOLD!!!  The way we roll over here in Amerika is The Fed pretends Ron Paul doesn't even exist and that they can't hear any of the questions he shouts at them. That way they pretend like it's so absurd that they don't even answer the question. Like our gold is a "barbarous relic traditon" that it's not even worth our time to keep track of so we never think about it cause we view it like baseball cards. That's the vibe I get from our Fed when really it's probably all the think about during their waking hours. 

Sun, 09/18/2011 - 19:52 | 1683178 LeonardoFibonacci
LeonardoFibonacci's picture

"The more I see of the moneyed class, the more I understand the guillotine." - George Bernard Shaw

Sun, 09/18/2011 - 19:57 | 1683190 Anarchyteez
Anarchyteez's picture

Man, I don't want to be in the northern hemisphere
when this clusterfuck unwinds! I mean really, can anyone
here even imagine a more corrupt, ass fucked situation than
what we have today. Oh, an escalation of war...proly baked in
the cake.

Sun, 09/18/2011 - 20:15 | 1683235 Tunga
Tunga's picture

To which the bank replied; "If it was up your ass you'd know!"

Sun, 09/18/2011 - 21:29 | 1683397 Lux Fiat
Lux Fiat's picture

Well, if what is good for the goose is good for the gander, the DNB has very little gold....   However, guess it could squeeze a few more pension funds ahead of an audit if need be.

http://www.zerohedge.com/article/here-comes-executive-order-6102-qe-generation-dutch-central-bank-orders-pension-fund-sell-it

Mon, 09/19/2011 - 02:28 | 1683760 Stpierre
Stpierre's picture

A part of the Dutch Gold is in my place (I'm Dutch), Silver as well.

Ha,ha,

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