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Germany to Review Bundesbank Gold Reserves in Frankfurt, Paris, London and New York Fed
From GoldCore
Germany to Review Bundesbank Gold Reserves in Frankfurt, Paris, London and Federal Reserve Bank of New York
Gold’s London AM fix this morning was 1682.50 USD, 1278.69 EUR and 1068.53 GBP per ounce.
Yesterday's AM fix was USD 1,685.60, EUR 1,282.24 and GBP 1,068.26 per ounce.
Gold fell $31.20/oz or 1.8% in New York yesterday and closed below the $1,700/oz level at $1,674.10/oz. Gold has traded in a range between $1,670/oz and $1,680/oz in Asia and early European trading and is now trading at $1,677.40/oz.
Support is at the 200-day moving average at $1,677/oz and below that between $1,650/oz and $1,660/oz. A more severe sell off could see gold fall to $1,600/oz and then to $1,500/oz but this is unlikely given continuing strong demand especially from Asia.
Volume yesterday in most active April futures topped 237,000 lots, making Tuesday the third highest day in terms of turnover in a month. This compares with Feb. 29's 343,493 lots of volume, the largest for one day of trade since Sept. 23 2011.
Asian shares fell for the third day in a row on Wednesday as investors grew more risk-averse, with renewed uncertainty over Greece's bailout and mounting worries about slowing global economies overshadowing support provided by ample liquidity. European shares have eked out gains in early trading.
German lawmakers are to review Bundesbank controls of and management of Germany’s gold reserves. Parliament’s Budget Committee will assess how the central bank manages its inventory of Germany’s gold bullion bars that are believed to be stored in Frankfurt, Paris, London and the Federal Reserve Bank of New York, according to German newspaper Bild.

CDU foreign policy expert Philip Missfelder (left) and Ralf Schuler BILD reporters in front of the Federal Reserve Bank of New York
The German Federal Audit Office has criticised the Bundesbank’s lax auditing and inventory controls regarding Germany’s sizeable gold reserves – 3,396.3 tonnes of gold or some 73.7% of Germany’s national foreign exchange reserves.
There is increasing nervousness amongst the German public, German politicians and indeed the Bundesbank itself regarding the gigantic risk on the balance sheet of Germany's central bank and this is leading some in Germany to voice concerns about the location and exact amount of Germany’s gold reserves.
The eurozone's central bank system is massively imbalanced after the ECB’s balance sheet surged to a record 3.02 trillion euros ($3.96 trillion) last week, 31% bigger than the German economy, after a second tranche of three-year loans.
The concern is that were the eurozone to collapse, Bundesbank's losses could be half a trillion euros - more than one-and-a-half times the size of the Germany's annual budget.
In that scenario, Germany’s national patrimony of gold bullion reserves would be needed to support the currency – whether that be a new euro or a return to the Deutsche mark.
The German lawmakers are following in the footsteps of US Presidential candidate Ron Paul who has long called for an audit of the US’ gold reserves.
It is believed that some 60% of Germany’s gold is stored outside of Germany and much of it in the Federal Reserve Bank of New York.
Germany and other central banks may follow in Hugo Chavez’s footsteps and repatriate their gold to Germany so as to have direct possession of and ownership of their gold reserves in order to be better prepared for a systemic or monetary crisis.
Jim Rickards has outlined possible plans by the Federal Reserve to commandeer Germany’s and all foreign depositors of sovereign gold at the New York Federal Reserve in the event of a dollar and monetary crisis leading to intensified “currency wars” and the ‘nuclear option’ of a drastic upward revision of the price of gold and a return to a quasi gold standard is contemplated by embattled central banks to prevent debt deflation.
OTHER NEWS
(Reuters Global Gold Forum) -- Gold holdings are at a fresh record of 70.795M oz, having risen by a net 27.24K oz overnight following inflows into COMEX Gold Trust, while silver holdings are down 1.36M oz following an outflow from iShares. Total silver holdings are at their highest in 10 months, having risen by more than a net 6M oz in the last month, although almost all of this is thanks to inflows into iShares, which have risen by 5.9M oz in this time.
March 6 (Bloomberg) -- The European Central Bank’s balance sheet surged to a record 3.02 trillion euros ($3.96 trillion) last week, 31 percent bigger than the German economy, after a second tranche of three-year loans.
(Bloomberg) -- Gold Fields Production Stopped by Cosatu Strike in South Africa
Gold Fields Ltd., the world’s fourth-largest producer of the metal, had production stopped at its South African operations by a one-day strike by the Congress of South African Trade Unions over road toll fees and labor- broking.
“Attendance at our mines for the morning shift is around 15 percent,” Gold Fields said in an e-mailed response to a query today. “Effectively our staffing is therefore limited to essential services.”
(Bloomberg) -- Volkswagen, Gold Fields Shut by South African Workers’ Strike
Volkswagen AG, General Motors Co. and Gold Fields Ltd. halted production in South Africa as workers went on a one-day strike to force the government to scrap short-term work contracts and highway tolls.
About 15 percent of workers arrived for the morning shift at mines run by Gold Fields, the world’s fourth-largest producer of the metal, the Johannesburg-based company said in an e-mailed statement today. Volkswagen, GM, Ford Motor Co. and Daimler AG shut their local plants, according to the companies.
The Congress of South Africa Trade Unions, an ally of the ruling African National Congress, is pushing President Jacob Zuma to ban labor brokers that arrange short-term contracts and curb costs as inflation erodes wage gains. The nationwide strike may shut down 30 percent to 40 percent of Africa’s biggest economy, according to Mike Schussler, chief economist at Economists.co.za, a Johannesburg-based advisory service.
“It’s all systems go for the biggest mass protest in years,” Cosatu’s spokesman, Patrick Craven, said in the e- mailed statement today.
Workers began gathering in various cities around the country to start 32 planned protest marches, Cosatu, the nation’s largest labor federation representing about 2 million workers, said in an e-mail. Protesters are due to march to the Chamber of Mines in Johannesburg and to Parliament in Cape Town. The nation’s biggest mining, manufacturing and transportation unions have backed the one-day protest.
For breaking news and commentary on financial markets and gold, follow us on Twitter.
NEWS
Reuters
Gold snaps 3-day loss, Greek debt fears linger
Bloomberg
Gold May Extend Drop in Worst Run This Year as Europe Debt Woes Resurface
The Financial Times
Bernanke’s QE silence a blow to gold price
The Financial Times
IIF warns on €1tn cost of Greek euro exit
COMMENTARY
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Some Observations On Recent Gold (And Silver) Volatility
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Zero Hedge
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Time for another Hitler in the bunker moment . . .
Vee vill enforce GAAP.
Unlike the Fed.....the Germans can actually count and pull off an audit.
Ronny - Audit the gold
Benny - You mean actually go count it? You're clearly a madman sir.
... and its gone
THIS CAN'T BE!!!!!!!
THEY STOLE IT FAIR AND SQUARE FROM THE JEWS AND THE REST OF EUROPE!!!
THOSE GOLD TEETH BELONG TO GERMANY!!!!!
http://picasaweb.google.com/lh/photo/XqXXBRqFnw7Lppd291JTlQ?feat=embedwebsite
Who got da gold bitchez
my favorite part about that picture is the big black guy smiling. He has no idea whats going but hey, he is happy to be their.
their what?
Looks like they have 5%, who knows where the rest physically is.
I'd like to see what would happen if they asked for it back.
No,no,NO! Das gold teefe we sold to da Sviss to finance death camps and war effort. We know nuhzing about teeth and hair or soap. If ze gold is not accounted for, ve vill present our sight draft in proper form--and insist on repatriation.
No that's the Swiss.. (well some of them). The occupying forces made damn sure they got everything that was in Germany at that moment. This gold was earned during the "Wirtschaftswunder" in the sixties. It was put in London and New York for "safekeeping" because of the communist countries.
De Gaule saw this coming. An old story essentially. But with the US the biggest proponent of a "Global Economy" (and enforcement) they better think twice before confiscating german and dutch gold.
it might look bad.
You know, with all of the urgent and important things they have to do over there, you would think that they have more pressing matters and would not be wasting valuable time diddling around with pieces of useless decoration from less civilized and enlightened times.
I believe that's been the current argument for the last 50 years.......getting by with it so far.
The Germans have 3 traditions:
1. Bradwurst
2. Beer
3. Gold
Why and how come nobody knows, but tradition is tradition!
AYGABTU
<sub>bitchez
You make it sound like heaven. Throw in 4. Beautiful blue-eyed German girls and I'm pcking my bags
The doublespeak is rich, ain't it? Here we have the Fed Chairman testifying to Congress that central banks only hold gold because it's "tradition," but when the dark clouds of sovereign default on the horizon start to loom large, everyone inexplicably scrambles to check on their stocks of barbarous relics.
What a stupid joke. They are lying to you, and every other person they see as a peasant in this world. At the end of the day, he who holds the gold will make the rules of a new currency order. They all know this of course, but would never admit it. They want people to give up on holding gold, so they can gather it all and use it as they see fit. They hate the idea of private individuals hording what could become the backing of a new currency, because then it's out of their control. These maniacal assholes have been fucking with our currency for a century, with the last 40 years of it in total fantasy fiat land, and despite bringing us to the event horizon of a keynesian debt spiral black hole, still think they and they alone should hold all the cards. Fuck these psycho oligarch dictators. Unelected pricks who price fix time and money, the most fundamental and universal factors for any participant in the system. Their time at the helm must end, one way or another.
s o l i t a i r e
rothschild plays with itself, pretending Glencore is raising a new $6 billion syndicated loan to back its $37 billion merger with miner Xstrata and is also extending . . . q marc rich
http://af.reuters.com/article/metalsNews/idAFL5E8E73ZP20120307
. . . same feigned finance through main foreign ffronts JPMorgan Chase, Morgan
Stanley and Goldman Sachs [as if] locked in an increasingly frantic struggle with
q dimon, brodsky, blankfein
the Federal Reserve . . .
http://www.reuters.com/article/2012/03/02/us-fed-banks-commodities-idUSTRE8211CC20120302. . . as rotschild here roto-reuters all their own holy-owned A,K,Q,J through all their own holy-owned interALPHAbet all comin-up-roses and smellin like ___ well, you know, kinda like how all le rouge et le noir smell comin outta they ffudge factory
"
"Jim Rickards has outlined possible plans by the Federal Reserve to commandeer Germany’s and all foreign depositors of sovereign gold at the New York Federal Reserve in the event of a dollar and monetary crisis leading to intensified “currency wars” and the ‘nuclear option’ of a drastic upward revision of the price of gold and a return to a quasi gold standard is contemplated by embattled central banks to prevent debt deflation."
No wonder they all want to know where their ASS-ets are. We will return the value of your gold in federal reserve notes....you see there is simply not enough gold in the world to satisify the accounting numbers.
and when they hold it all they can create paper gold and short the fuck out of it and keep the price down so its not worth what it should be to us little people.
Their master plan is going perfectly to plan.
(feindish rolling hands together)
Wouldn't change a word...well put!!
Thank you. Now back to our regularly scheduled global gold confiscation.
RSA is a total clusterfuck at this point...nonstop strikes and a nation in collapse. Their hyperinflation is coming inexorably. The white people left cannot stop the forces of nature.
The other thing I noticed is that nobody is auditing national silver reserves. Must be because silver is an industrial metal only loved by shameless pumpers on internet forums trying to create more bagholders to get blowtorched.
RSA is heaven compared to USA...
Ah, no. Here the Black Undertow only pretends to rule. It's for real in SA. Whites will leave, or they will be eaten. Literally.
@trav7777 Being here in South Africa I fully agree. They're bleeding us dry.
Yeah, just like you bled them dry!
you fuckin idiot...how did the whites bleed RSA dry? The whites established what africans were incapable of, a MODERN CIVILIZATION in Africa. The whites CREATED all that was RSA, the roads, the plants, the mines, the EVERYTHING. They didn't even use slave labor to do it, they did it themselves by the sweat of their own brow.
In order to preserve that civilization, they had to limit participation in it to the civilized, which excluded most africans, as, according to Jared Diamond, evolutionary pressure selected against civilization for them due to various factors.
Just take a look at Zimbabwe's import/export balance if you want to know what's coming with all those "hardworking," "bled dry" africans now having taken over all the formerly white owned farms (where they EMPLOYED people for wages).
You fuckin DWLs are the most insane, stupid, self-destructive pieces of shit on the planet. Africans were used as low-end labor in the USA until the advent of the cotton gin and the influx of the irish and other cheaper labor resources. In RSA, they were merely kept out of the areas of civilization to prevent their destruction of it. Now that those fences have been torn down, the outcome is INEVITABLE.
Those whites who remain in RSA, and I know some well, are simply by their own admission doing no more than waiting for someone to put them out of their misery. They have to sleep in armed compounds, behind steel security doors...wtf kind of life is that?
@trav7777 Exactly! I couldn't state it better myself. We're so sick and tired of the lies and propaganda. This is the sort of thing we have to keep up with here in South Africa nowadays: http://www.adslsouthafrica.co.za/white-genocide.html This is what they're doing to us every bloody day. This is what happens when the majority of Whites fall for so called 'Judeo-Christianity', waiting on a fake long hair Judeo Jesus to save their sorry asses. The majority of Whites are nothing short of sheep being led to the slaughter... to be put out of their misery. It's a disgrace to say the least and a really fucked up way of life, but it's a reality we've got to face on a daily basis. Needless to say, we are not going to go down without a fight. They must just push us far enough. I personally believe that the collapse of the U.S. dollar and other fiat currencies, including the South African Rand, will be the event that will shake Whites out of their deep sleep, because then all the luxuries and other shit will fly out of the window, it will then be a matter of death or survival. Hopefully Whites across the globe will then unite to turn the world the right side up again.
bullfuckingshit. Black vs white is about as meaningful as left vs right or pro-choice vs pro-life. Fucking distractions for the morons to keep the oligarchs in power. It's rich vs poor ( or more accurately, master vs slave ). Always has been, always will be.
Yeah, that's what the JewMarx said. But history has proved the Jew wrong. Race trumps class every time, and will again. In fact, Bolshevism is Jewish.
Yer almost there; it's more like the Intelligent vs the Stupid. Unfortunately, the Intelligent know that they're obligated by their own intelligence to help the Stupid break the chains of their own ignorance.
You are one fucked up prick. You arrogant cunt. Fuck off back to your rascist hell hole pig shit.
@Rubicon Thank you for the 'compliment' Mr. Brown. You can give me all the 'compliments' in the world, but my kind will never sit around the same fire as your kind. It is forbidden by our Law to mix that which is good in its kind with that which is bad in its kind. Now crawl back into the dog house, there are plenty of other dogs' arses to lick.
central banks dont hold silver, the military does. That info is classified. It is a strategic necessity with all future military advances.
It is in our national interest to keep silver, oil, etc cheap via paper manipulation. Got to keep the empire strong ya know.
Gold Paranoia is for zee likes of dictators...like zat Chavez tyrant. Vee kent afford to have zee vorld thinking vee are becoming Hitler again. I sink vee should just keep playing zee farmville and all vill be guud.
Ï am sure you mean, "and all will be gut"?
Unlike the Fed.....the Germans can actually count and pull off an audit
how, this-late-in-the-count, KO, can anyone this down-for-the-count still be talking in terms of germans belgian french irish italian spanish portugeuse etc and now even chinese as if they were a separate entity
Ockham. Razor
holophrastikos
R O T H S C H I L D
"...all those who own bullion, leave the room..."
Look at how gold exploded to $1900 last year when Chavez asked the Bank of England for his gold back! The Venezuelans have one tenth of the gold that the Germans have. Can you imagine what it would do to the price of gold as the "paper boys" are forced to cover their shorts if the Germans were to tell Mr Bernanke that they wanted delivery of all their gold forthwith?
Might be a good reason to do it... Just for the fun of it.
Where would they get the precious to redeem that much?
I don't think Iran and Syria have that much 2 to 3K tons?? I dont' think so.
Dear Switzerland: I hope you have nukes.
GOLDFINGER, he's the man, the man with the Mitus touch...
where is Oddlot when you need him most? Down in the vault.
art, life or the other way around? Which comes first?
Midas...and Oddjob...sorry, that was bugging me.
At least the Germans know where their national gold is. We don't. Suspect: Israel.
Hey german sheeple...I'll give you a weiner shitzel tomorrow for your gold today...thats fair right?
Germany to NY Fed: " were is my gold?", NY Fed: "ahhh it was has to be here somewhere.."
Dudley, "We replaced all gold with these massive stacks of iPads. That way you have value and a snack if you get hungry."
A new tungsten audit is on
Just part of the Kleptocrat con
I hope they don't faint
From all the fresh paint
Their national gold is now gone
Germany to NY Fed: " were is my gold?", NY Fed: "we put it with the MF global client funds."
Free Jon Corzine!!!!
Oh wait.......he is.
NY Times headline: "Germany's gold in NY FED evaporated just before audit of NY Fed holdings"
"Press 1 to request the repatriation of your gold..."
111111111111111111111111111111111111111111111111
111111111111111111111111111111111111111111111111
111111111111111111111111111111111111111111111111
111111111111111111111111111111111111111111111111
"Our lines are very busy at the moment, please hold and an operator will deal with your call as soon as possible..."
*click*
dial tone.... Rut Roh
" It is believed that some 60% of Germany’s gold was stored outside of Germany and much of it in the Federal Reserve Bank of New York."
Fixt.
Yeah ~ "Mr. Wilson" was holding it for them until "Dennis the Menace" came along...
http://www.youtube.com/watch?v=SKGuO1O8rew
I bet they politley ask for it back...
Well that's the end of that gold.
Don't forget to bring a hacksaw...
'Jim Rickards has outlined possible plans by the Federal Reserve to commandeer Germany’s and all foreign depositors of sovereign gold at the New York Federal Reserve in the event of a dollar and monetary crisis leading to intensified “currency wars” and the ‘nuclear option’ of a drastic upward revision of the price of gold and a return to a quasi gold standard is contemplated by embattled central banks to prevent debt deflation.'
It's only tradition. If Germany can never see that gold again, how is it German gold?
the Fed has likely already commandeered it to lease into the forward market. Nobody really knows who has the claim tickets for this gold nor how many times it may have been sold. I mean, shit, it's STILL THERE, ain't it? So let's lease/sell it again! Keep doing that until it disappears or something.
Possession is 9/10ths of the law, right?
Exactly. And, I'm confident that there is a paper claim out there, somewhere that gives plausible deniability to the FED keeping it... or, alternatively, a fucked up chain of title sufficient to allow the FED to keep it. Probably where they got the idea to blow up the mortgage market...
For Au I think it's 10/10ths. At least that is what a guy named Hugo told me.
This is final confirmation for me; the most bullish news about gold's place in the hierarchy of worth you can imagine.
So, The US can 'declare' some sort of currency stability 'event' & commandeer any gold holdings - no matter who or what country owns it? ? That's an incredible statement to be in the public domain.
Forget about the silly charts & short/long positions/manipulations etc. etc. now - that's all noise & nonsense - the real news is about the desperate Germans trying to nuance their gold
back from off-country locations & the US PTB saying "whoaa.. slow down Hans.. we may have other plans for it..."
Hey, I just saw Bernanke in Ace Hardware buying up all the cans of gold paint in inventory.
And I thought Benny was lying when he said he did his own shopping! Whoodathunkit
Better hope JP Morgan isn't a counter party.
No they just, well...er...umm....how should I say this....they just borrowed it...they are trying to locate it at the present time and we are highly confident that they will be very dilligent in their attempts to locate it....
There is a good scientific reason sometimes: It's called evaporation.
It's called a fortified warehouse in Singapore
Yo Germans! Why y'all care about some barbaric relic? Just print some Euroze bitchez!
Friggin Krauts. They never trust anyone...
Why should they?
too late i got the last one
The US has 100,000 troops in Germany. As long as the troops stay in Germany, the gold stays in New York.
Besides, the greenback is real money - the most powerful military in the world says so.
wonder when the troops in the most powerful military in the world will begin kindly requesting their pay in gold.
Once they have to demand that, they aren't
well, the number is presently about half that, but the point still stands. A lot of the installations there are scheduled to close in the next few years. It's amazing if you think about it, we've got 50k troops and like several dozen military facilities in a sovereign, foreign nation. It'd be incomprehensible to Murkins to be occupied like that.
I agree that we wouldn't take too kindly to that, but if we lose at our grab for world domination, commit countless crimes against humanity, get conquered by a foreign military, AND agree to the occupation, then the whole thing seems a bit different...
We haven't had real money since 1913.
Gib mir meine Wolfram.
Schade, wir koennen Ihr Gold leide nicht finden. Den ganzen Hort hat man wegen eines Umfalls in den Rhein versenkt. Moechten Sie Banknoten?
Judenfetzen aus Frankfurt? Nein Danke.
--------thoughtcrriiiiimmmee--------
Sehr komisch.
Manchmal freue ich mich das ich ein bischen Deutsch kenne!
> Germany to Review Bundesbank Gold Reserves
NY Fed has long ago swapped them for spam. You know, spam is editble and stuff...
Germans, it ain't there. Be prepared for a "payment-in-kind."
A note with Ben and Obongo's picture on it.
That's as good as money, sir. Those are IOUs.
http://www.youtube.com/watch?v=7GSXbgfKFWg
Just wait to see what happens to gold prices when nations start reporting their metal was stolen long ago.
So, approximately 1.8 thousand tons at the N.Y. Fed. Can't make that up by stealing gold from Lybia or somewhere.
Auditing your gold...what a novel concept.
Repatriation now.
Germany will never repatriate any gold. Firstly there is no gold, only bookkeeping entries.
In the very unlikely case any German government considered repatriation, these paper certificates would trasnmutate into dust, and there would be nothing the Germans could do about it.
The partners in crime and evil twins Buba and FED have to keep the smoke and mirrors that the gold is there, and that it could be retrieved if need be. The whole thing is however a farce.
Oh there IS gold--the question is who has it.
Point taken.
The Chavez tradition, Bitchez
Hugo Chavez made his gold repatriation public. I wonder how many private requests have been made?
Yes, also there is a rumour that chavez made his repatriation public AFTER he had already recieved all his gold.
He was talking his book...
maybe they can take ipads instead? at least you can eat those you know...
They've stolen me gold!!!!!!!!!!!!
Might be a good idea for Zee Germans to check their inventory for some of those bars that have the surprise Tungsten filling, not that they will ever even see their gold because we all know that the response to any country that demands their gold is the liberation of their oppressed people.
Wait... Tungsten? Is the shortage of Tungsten the reason light bulbs are forbidden all over Europe for some time now?
Who has the gold anyway? Fort Knox/fed is supposed to be empty or full of tungsten fakes, a la China, Hugo has his, Gordon sold UKs, NATO stole the colonels etc. and now Jerry wants their stash repatriating. Why isn't it in Germany to start with?
Somebody somewhere has got a lot of gold that ain't theirs to be had.
The paramount question in my mind is, why?
private banks hold most gold of the world.
So the question is: who owns the private banks?
That gold vaporized at the TT collapse along with all paper---except the passports.
....aaaaaand the end game begins.
This just tells me that Deutschland is preparing to leave the Euro. Can't say I blame them.
I hope you're right. If they walk out that means that the whole rotten EU fake money structure will collapse.
Go Deutschland!
Gold Hündinnen!!!
"Hey Larry, where did we put that German gold again?"
Bob Rubin
That was Moe speaking, not Rubin.
"Ein tragischer Boot fahrender Unfall."
Is this a stupid question - why the f*ck is Germany storing their gold in the United States?
Well, for starters, Germany lost a world war 67 years ago and had its government abolished after surrender. After 4 years without a government, the allies "recommended" the establishment of governments in the Western as well in the Eastern occupation zones.
During the so-called Cold War, under the pretext that the russians could take over the gold in case they took a stroll down the Fulda gap, German gold reserves were safely stored in Rothschild owned or related vaults in Paris, London and New York.
German surplus exports could thus be rehypotecated ad infinitum for the great satisfaction of high finance cliques all the while giving credibility to the dollar gold-exchange system until 1971, and the naked dollar-fiat system since then. Pax Americana, if you will.
Nothing with the name Rothschild is safe. They are natural born thieves.
Actually, during the cold war it probably made some sense.
right, as if FDR, Rockefellers and Rothchilds disliked Stalin and didn't promote marxist economics every chance they could get...I see what you are doing there...pretending the cold war was real.
It is interesting to note that the Eurodollar market was created in the City of London to settle grain exports from the US to the USSR.
The bankers love a contrived war or rivalry for that's when margins soar.
If there was a true cold war, wouldn't the US Gov simply tell the russians to grow their own bread? Of course that would mean a lot less fat cats in the military industrial complex in the West as well. Moreover, why on earth has the US government recognized then supported and then allied itself with the communist revolutionaries in Russia if not for high finance's unbreakable tribal bonds?
At the very top there is no such thing as government, that's just a cover to distract us into thinking we have leaders who work in the interest of us and whatever our country of origin.
They planned World War One in the 1890's and during the roaring 20's when everybody else was snookered into thinking the war was over and good times were back they were busy planning the second bloodletting since they made so much money on the first one.
They turn wars on and off like a faucet. It's the only way they know how to make money. They are walking talking roaches.
My apologies to six-legged roaches everywhere.
Not only audit it to find out where it is....but how many times it has been leased out...I think this a smart move....
New York is with London the capital of the Tribe, they will never allow that gold to return to Germany....they will serve themselves and keep it as "war reparations".
If the Germans want it back they will get it. If they are refused there will be a crisis of confidence that will shock the markets. I think the Germans have way more leverage than the USA.
German citizens have near zero leverage with their Federal Government, and the German Government has less autonomy vis-a-vis the US Federal Government than a US state like California.
In a better, parallel universe:
" US lawmakers are to review Federal Reserve and Treasury controls of and management of US gold reserves. A joint senate and house committee will assess the management America's gold bullion bars that are believed to be stored in Fort Knox KY, the Federal Reserve Bank of New York and other undisclosed locations, according to Bloomberg. The GAO has criticised the Feds lax auditing and inventory controls regarding the world's largest official gold reserves – more than 8,000 tonnes of gold. There is increasing nervousness amongst the American public, politicians, and indeed the Federal Reserve itself regarding the gigantic risk on the balance sheet of America's central bank and this is leading some to voice concerns about the location and exact amount of America's gold reserves. The US central bank system is massively imbalanced after the Fed's balance sheet surged to over 3 trillion dollars caused by repeated assett purchases following the 2008 financial crisis. The concern is that were the US dollar to collapse, Fed losses could be more than a trillion dollars, triggering instability in the bond market that would make funding the world's largest deficits impossible. In that scenario, the US national patrimony of gold bullion reserves would be needed to support the currency – whether that be a new gold-backed dollar or participation in some global currency. The US lawmakers are following the lead of US Presidential candidate Ron Paul who has long called for an audit of the US’ gold reserves."
Jim Rickards on debt and gold, "It looks like 1919"
http://www.youtube.com/watch?v=y0b2bEY8_iw&feature=related
... and we want our gold back stolen by the US after WWII.
So Gold does have value. I just thought it was a short term trading vehicle.
Long tungsten.
It makes one wonder why loads of countries keep their gold reserves with the Fed and BoE. I thought gold was supposed to be a barbaric relic? Methinks the gold is kept in London and NY so that the BoE and the FED can use it to manipulate the price of gold.
How soon we forget!
From 2009 http://gata.org/node/7713
The Deutsche Bundesbank can withdraw gold from its holdings with foreign central banks at any time. The Bundesbank’s gold is stored in the form of individually identifiable bars. “probably packed with tungsten”
From 2009 http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=7113
Germany calling for gold reserves to be shipped back home.
Such a request could put the U.S. government on the spot, as there is some concern that the German gold reserves are no longer intact. Some or all of it may have been distributed to the public as part of gold price suppression schemes.
From 2910 http://maxkeiser.com/2010/10/16/currency-war-germany-about-to-lose-66-of-its-gold-reserves/
Germany about to lose 66% of its Gold reserves
- Hey Fed, this is Bundesbank, you gotta bunch of our gold and we need it back for this Deutschmark thingy we're restarting.
- Says who ? gold ?
I can see it now...
CONgressional hearing:
So, let's get this straight, 1,200 tonnes of German gold has disappeared from New York banks?
Yes
OK, fair enough, let's move along to the next item on the agenda...
"..I yield the floor to the honorable Chairman Corzine."
".....and the ‘nuclear option’ of a drastic upward revision of the price of gold with the unleashing of freegold"
fixt
uhmm...no sir, I'm being told the correct technical term is vaporized.
3396 tons sounds like a lot of money, but it really isn't. Government gold, when it actually is sold, sells for $42 an ounce. That's only $4 billion dollars. With taxes, storage fees, shipping and insurance, we can send them $1 billion in treasury bonds. The amount we print before lunch each day.
I'm sure the NY fed is making that offer as we speak...I wonder why the germans don't want to make that trade...sounds fair enough.
What's the German word for "vaporized"?
(in nichts) aufgelöst.
or
verdamm(pf)t !!
What's the German word for "vaporized"?
Another terrorist attack on the gold repository in NY looms.
How many boxes of donuts do you think that Fed security guard consumes in a normal day on the job?
That information is classified.
We need a caption contest to find out
Buffett will recommend to the Germans that they start collecting sea shells instead. What's the point of getting a large metal cube that can be fondled but doesn't produce anything?
If there is one lesson from US history it is: DO NOT let the US government hold your gold for you!
lol maybe Obama can do a few TV commercials ----- CASH fo GOLD !
stay long gold
http://www.jinrongbaike.com/
http://www.cnhedge.com/
It may not be the US gov't's call to pull a 'nuclear option' of keeping the gold and issuing a new currency as Rickards mused...Germany simply requesting it all might be the catalyst that necessitates such a move on the broke-ass powerbrokers in NY/DC.