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 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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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.

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.

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.

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.

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)

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?

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.........

flacon's picture

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

Pool Shark's picture



No Gold, Bitchez...


X.inf.capt's picture


one hell of a mint, makin' counterfeits

not just a.t.e.'s , 

goldfish1's picture

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

Spitzer's picture

The French got their gold last time.

cynicalskeptic's picture

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

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

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...

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...

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.

Newsboy's picture


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...

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.



FlyPaper's picture

Data.  Got data and data sources?  

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.


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)

Hammer Time's picture

Page 7 mentions a lot:


( 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.

pain_and_soros's picture

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

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.   

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!

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)

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!

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.

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).

anonnn's picture

Credibility gap? Ft. Knox, Tennessee?

Ft. Knox is in Kentucky, nearLlouisville.

NotApplicable's picture

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

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."

Reptil's picture

The questions are still valid.

sgorem's picture

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

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?


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


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

Solid's picture

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

Spitzer's picture

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

DoChenRollingBearing's picture


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.

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.

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.