This page has been archived and commenting is disabled.

Switzerland Wants Its Gold Back From The New York Fed

Tyler Durden's picture




 

Earlier today, we reported that Germans are increasingly concerned that their gold, at over 3,400 tons a majority of which is likely stored in the vault 80 feet below street level of 33 Liberty (recently purchased by the Fed with freshly printed money at far higher than prevailing commercial real estate rates for the Downtown NY area), may be in jeopardy,and will likely soon formally inquire just how much of said gold is really held by the Fed. As it turns out, Germany is not alone: as part of the "Rettet Unser Schweizer Gold", or the “Gold Initiative”: A Swiss Initiative to Secure the Swiss National Bank’s Gold Reserves initiative, launched recently by four members of the Swiss parliament, the Swiss people should have a right to vote on 3 simple things: i) keeping the Swiss gold physically in Switzerland; ii) forbidding the SNB from selling any more of its gold reserves, and iii) the SNB has to hold at least 20% of its assets in gold. Needless the say the implications of this vote actually succeeding are comparable to the Greeks holding a referendum on whether or not to be in the Eurozone. And everyone saw how quickly G-Pap was "eliminated" within hours of making that particular threat. Yet it begs the question: how many more international grassroots outcries for if not repatriation, then at least an audit of foreign gold held by the New York Fed have to take place, before Goldman's (and New York Fed's) Bill Dudley relents? And why are the international central banks not disclosing what their people demand, if only to confirm that the gold is present and accounted for, even if it is at the Federal Reserve?

Full disclosure via the Initiative's website:

 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 03/07/2012 - 19:36 | 2234059 nope-1004
nope-1004's picture

One prolem.  NYFed dun got it!

 If EVERYONE asked for their gold, ummmm.......   Houston!

Wed, 03/07/2012 - 19:36 | 2234067 HelluvaEngineer
HelluvaEngineer's picture

"Vaporized!"

Wed, 03/07/2012 - 19:39 | 2234082 Pinto Currency
Pinto Currency's picture

This will be game over - expect ridiculous stalling tactics, fires at the NY Fed, terrorist attacks etc. to delay.

Wed, 03/07/2012 - 19:40 | 2234089 Popo
Popo's picture

I can see it now... This will be just like MF Global. Maria Bartiromo will be on CNBC insisting that "no one actually knows where the gold went".

Wed, 03/07/2012 - 19:45 | 2234109 Global Hunter
Global Hunter's picture

blame a clerk in back office/settlements or a rogue trader on the prop desk.  Meanwhile Congress in hearings while looking for the missing gold can take partisan shots at their opponents and blame them for the missing gold while proposing that their new financial act and regulations would have kept the gold safe.  Rinse repeat.

Wed, 03/07/2012 - 19:51 | 2234132 imaginalis
imaginalis's picture

long tungsten

Wed, 03/07/2012 - 20:08 | 2234151 Pladizow
Pladizow's picture

News Alert: On behalf of the US and Kenya, Obama has declared both Germany and Switzerland, terrorist States!

The US military will move swiftly to liberate all Heineken and Toblerone!

Wed, 03/07/2012 - 20:14 | 2234229 Nassim
Nassim's picture

I am sure you meant Löwenbräu - Heineken is Dutch.

Wed, 03/07/2012 - 20:19 | 2234247 igordin
igordin's picture

You sure that the president knows that? We might end up liberating Stella Artois!

Wed, 03/07/2012 - 20:23 | 2234257 Hugo Chavez
Hugo Chavez's picture

Who the fook is st pauli girl then?
I want to liberate her.
She is hotter than Tehkneek
and less likely to have a BSD when I try to reach down.

Wed, 03/07/2012 - 20:48 | 2234323 Manthong
Manthong's picture

Their gold is perfectly save with us..

It’s securely tucked away right next to all of Comex and SLV’s silver.

Wed, 03/07/2012 - 21:13 | 2234374 zaphod
zaphod's picture

Europe agreed post WWII to store their gold with the FED and use the dollar.

This arrangement was conditional in post war negotiations and considered permanent. All European countries understood they would not see that gold again, it was simply under their ownership in name only and not physical ownership.

The EU can ask for it back now, but I doubt the FED will give it to them.

Wed, 03/07/2012 - 21:22 | 2234394 clymer
clymer's picture

If you really wanted to imitate MDB, you would have included some flattery about Bernanke and his little pointy-nosed muppet, tiny Tim. Perhaps rephrased the sentence to read something like,

"This arrangement was unconditional in post war negotiations and considered permanent. All European countries understood they were gaining in exchange for this barbarous relic the protection of the benevolent USA and the supremely genius banking cartel which manages her finances at the FED. By doing so we allowed them to ..evolve"

Wed, 03/07/2012 - 22:00 | 2234469 jcaz
jcaz's picture

The ultimate Ponzi......

Wed, 03/07/2012 - 22:26 | 2234508 HoofHearted
HoofHearted's picture

And now the Swiss say:

"All our gold are belong WITH us."

Wed, 03/07/2012 - 22:34 | 2234520 Harlequin001
Harlequin001's picture

Too Late dudes, Chavez has already been there...

Wed, 03/07/2012 - 22:44 | 2234545 redpill
redpill's picture

What's that noise?  I swear it sounds like dominos falling...

Wed, 03/07/2012 - 23:39 | 2234644 TruthInSunshine
TruthInSunshine's picture

Dominos falling is the correct answer.

 

This is almost entirely the result of The Bernank's fevered passion for creating massive volumes of digital Federal Reserve Notes.

The shit that Bernanke has induced is piling up like a big radioactive Jenga stack, and last one out is a mutated freak.

No one trusts anyone anymore, and no one trusts anything under the stewardship of El Bernankio.

You're doing a heckuva' job, Bernankincide.

Thu, 03/08/2012 - 00:12 | 2234714 Harlequin001
Harlequin001's picture

Well, I shouldn't complain too much, after all, he's made me rich, but at what cost...

Thu, 03/08/2012 - 00:28 | 2234743 TruthInSunshine
TruthInSunshine's picture

...you better know when to hold, and know when to fold 'em...

Some say, that without very, very good timing, many proceeding under the illusion that The Bernank has made them rich will awaken to a reality one day that it was all just another bubble, and it slipped right through their fingers and 'Popped!'

Of course, the chorus of "[I]t's different this time from the sell-siders grows louder each blathering day. CRM surely has room to run, let alone not implode, as just one example.

...know when to walk away, know when to run...

 

"Stock prices have reached what looks like a permanently high plateau."

--Irving Fisher

   October 21, 1229

 

Jim Glassman (of Dow 36,000 fame, written in 1998) and James Cramer are no Jesse Livermores - and Livermore, the consumate operator, who actually recognized the stock market ponzi for what it was (his great strength), and probably successfully traded more pivots as a % of his trades than any person since, ended up blowing his brains out.

Thu, 03/08/2012 - 01:49 | 2234934 Harlequin001
Harlequin001's picture

Fold what? All my assets are now in physical gold and silver and I have no intention of selling just yet. I fully expect that both will rise and spike exponentially but that doesn't matter. I buy to hold until it is money once again and then to have capital to trade the bullion market as gold once again begins to flow through financial markets. There is considerable imbalance in gold markets as you know. A huge opportunity to benefit from it through trade will present itself when it begins, and when governments finally realise that punitive tax rates don't create jobs. Until then I need to keep it safe, because to get there the high taxes will need to come first, and I don't intend to get caught out with that one either.

Those who have sense know that success lies not in your ability to make 'every dollar', but to make most of them; long term success lies in keeping it long enough to be able to use it. My intent is to make sure that my family and future generations have both access to capital and the prospect of being more than mere cannon fodder in future. When gold spikes I will hold it until it settles and then spend it as I need it. I will not be disheartened because I didn't sell it at the top. I won't need to. This, to me, is the greatest opportunity in history to get, and to put future generations of my family ahead of the game, and yes, I agree  'the illusion that The Bernank has made them rich will awaken to a reality one day that it was all just another bubble, and it slipped right through their fingers and 'Popped!'. Those who think they have pensions, have equity in their houses and have wealth in paper will awaken to find they have nothing. When they do, I don't intend to be around...

and I need my wealth in a form that is portable when I go. Did I just define paper money? Hell no...

Thu, 03/08/2012 - 01:58 | 2234945 TruthInSunshine
TruthInSunshine's picture

My bad for misinterpreting what you stated originally.

You're a sharp cookie, IMO.

I don't mean that in a patronizing or condescending way.

Peace out, my brother.

Thu, 03/08/2012 - 02:44 | 2235016 Harlequin001
Harlequin001's picture

Good health, wealth and happiness and all that,

and not necessarily in that order...

Thu, 03/08/2012 - 01:58 | 2234948 flacon
flacon's picture

MCCAIN: "Bomb, Bomb, Bomb, Bomb, Bomb, Switzerland!"

Thu, 03/08/2012 - 02:46 | 2235021 Harlequin001
Harlequin001's picture

Surely, Fort Knox would be a better target...

Given the current climate...

Wed, 03/07/2012 - 23:48 | 2234665 fourchan
fourchan's picture
Well let me tell you 'bout the way she looked
The way she'd act and the color of her hair
Her voice was soft and cool
Her eyes were clear and bright
But she's not there

Well no one told me about her, what could I do
Well no one told me about her, though they all knew
But it's too late to say you're sorry
How would I know, why should I care
Please don't bother trying to find her
She's not there

Thu, 03/08/2012 - 08:10 | 2235342 bernorange
bernorange's picture

China/Hong Kong repatriated gold in 2009

Chavez/Venzuela repatriated gold in 2011

Swiss in 2012?  Who's next?

Wed, 03/07/2012 - 23:54 | 2234678 Reptil
Reptil's picture

eeehmmm Which was part of what arrangement exactly? And how was Switzerland involved in this? They were not part of any Marshall Plan. In fact they never lost souverignity because of an occupation. So I doubt it. But please post, this could be interesting.
thanks!

Thu, 03/08/2012 - 05:08 | 2235199 Hobbleknee
Hobbleknee's picture

Ha ha, suckers!

Thu, 03/08/2012 - 05:46 | 2235229 antaresteleko
antaresteleko's picture

Zaphod, that agreement is not permanent anymore since Nixon unilaterally broke it when he took the USD off the gold standard...

Thu, 03/08/2012 - 07:22 | 2235294 Marty Rothbard
Marty Rothbard's picture

@ Zaphod  I don't know if the agreement to keep European gold in the Fed's vaults was considered permenant, but I know the Bretton Woods accords were.  We all know what happened there.  I certainly hope Germany, and the Swiss demand their gold.  It may be the closest thing to an audit of the Fed we get for a long time.   I know that Venezuela is in the process of repatriating their gold.  Does anyone know if the Fed was storing some of it.  I know part of it was in London vaults.

Fri, 03/09/2012 - 03:50 | 2238879 cannonfodder
cannonfodder's picture

Bretton Woods assumed that the US dollar was going to be redeemable in GOLD.  That hasn't been the case since late 1971.  Once the agreement is fundamentally altered, it no longer applies.  There is no justification for the US government or the Federal Reserve to refuse to return the asset to the legal owners if they request its return.

Wed, 03/07/2012 - 20:34 | 2234289 Normalcy Bias
Normalcy Bias's picture

We'd liberate it, and then turn it into American piss beer, coasting off of the label for as long as possible...

Wed, 03/07/2012 - 20:36 | 2234293 unrulian
unrulian's picture

I hate the Dutch

Wed, 03/07/2012 - 21:01 | 2234350 Citxmech
Citxmech's picture

Mmmmmmmm. . . . Toblerone!

Tue, 03/13/2012 - 07:57 | 2249822 Ar-Pharazôn
Ar-Pharazôn's picture

you can see what's happening in afghanistan.... imagine to invade an highli developped mountain country... this will be worse than vietnam for usa

Thu, 03/08/2012 - 00:36 | 2234771 putaipan
putaipan's picture

i guess someone besides ol'blankenfein might be taking the 15 trillion dollars worth of "conterfiet" gold bonds seriously...

Thu, 03/08/2012 - 00:47 | 2234783 putaipan
putaipan's picture

always wondered how that happenned.....

Wed, 03/07/2012 - 19:47 | 2234120 Amish Hacker
Amish Hacker's picture

It just vaporized.

Wed, 03/07/2012 - 19:57 | 2234157 bonderøven-farm ass
bonderøven-farm ass's picture

Boating accident.....

Wed, 03/07/2012 - 20:24 | 2234263 The Disappointed
The Disappointed's picture

...otherwise known as rehypothecation.

Wed, 03/07/2012 - 22:51 | 2234558 espirit
espirit's picture

... or the "Golden Rule."

Wed, 03/07/2012 - 20:30 | 2234279 GolfHatesMe
GolfHatesMe's picture

tripped into a lifeboat

Wed, 03/07/2012 - 22:54 | 2234560 battlestargalactica
battlestargalactica's picture

This will be no boating accident... It was a vampire squid.

http://www.youtube.com/watch?v=lSSelk84oA8

Thu, 03/08/2012 - 00:16 | 2234723 Long-John-Silver
Long-John-Silver's picture

Gold and Silver are drawn to water by great natural forces. Both will blast out the bottom of a boat in order to get back to the earth from which they were forcefully removed. Never, ever take Gold and Silver on board a vessel of any type. Disaster awaits all how do. /SARC

Wed, 03/07/2012 - 22:09 | 2234478 Fred Hayek
Fred Hayek's picture

Don't be so down.
Remember what the man said.
In Italy, for 30 years they had warfare, terror, murder and bloodshed but they produced Michaelangelo, Leonardo DaVinci and the Renaissance. In Switzerland, they had brotherly love. They had 500 years of democracy and peace and what did that produce? The cuckoo clock.

Wed, 03/07/2012 - 22:41 | 2234542 Harlequin001
Harlequin001's picture

Rolex...

Wed, 03/07/2012 - 22:47 | 2234553 bania
bania's picture

Roger Federer

Thu, 03/08/2012 - 00:02 | 2234696 trav7777
trav7777's picture

Cancellara

Thu, 03/08/2012 - 00:04 | 2234700 Reptil
Reptil's picture

Studer, Ghielmetti, oh and Heidi of course.

 

Thu, 03/08/2012 - 00:16 | 2234722 CompassionateFascist
CompassionateFascist's picture

freedom

Thu, 03/08/2012 - 00:02 | 2234694 trav7777
trav7777's picture

i think that dude was german

Thu, 03/08/2012 - 07:35 | 2235306 Marty Rothbard
Marty Rothbard's picture

@ hayek,

Dude, have you never heard of Leonhard Euler, and the Bernoulli family?  No, it's not a rock band.  Look them up on Wikipedia.  Switzerland produced some of the greatest minds of the last millenium.  Some of the best places to store  your prescious metals too.  Better Zurich, than New York, I always say.

 

Tue, 03/13/2012 - 07:58 | 2249824 Ar-Pharazôn
Ar-Pharazôn's picture

IDIOT the cuckoo clock is made first by germany!

 

and btw we have one of the most developped country in the world. About italy? they have a 3rd world country you IDIOT

Wed, 03/07/2012 - 23:30 | 2234625 redguard
redguard's picture

And....it's gone.

Wed, 03/07/2012 - 19:57 | 2234137 SgtSchultz
SgtSchultz's picture

NY Fed Trading Desk: "Hello Goldline, what kind of price can I expect for a few thousand tons of gold? Does that include shipping? Oh, and do you still accept Federal Reserve Notes?" 

Thu, 03/08/2012 - 10:25 | 2235714 prole
prole's picture

- click -

Wed, 03/07/2012 - 20:19 | 2234245 Normalcy Bias
Normalcy Bias's picture

Where da gold at?!

(For comic relief)

https://www.youtube.com/watch?v=nda_OSWeyn8

Wed, 03/07/2012 - 21:52 | 2234453 Real Money Wins
Real Money Wins's picture

When did a scaffolding joint pin suddenly become a Leprechaun Flute? LOL

Thu, 03/08/2012 - 03:02 | 2235056 Jendrzejczyk
Jendrzejczyk's picture

Thank you, I'd forgotten about that. Travvvvvvv? You seen this?

Thu, 03/08/2012 - 00:13 | 2234719 hivekiller
hivekiller's picture

Gold? We don't have no gold. We don't have no stinkin gold!

Thu, 03/08/2012 - 00:14 | 2234720 hivekiller
hivekiller's picture

Gold? We don't have no gold. We don't have no stinkin gold!

Wed, 03/07/2012 - 20:07 | 2234146 Normalcy Bias
Normalcy Bias's picture

As long as Baraka is President, it's a RACIST and TERRORIST act to demand the return of your own gold!

Wed, 03/07/2012 - 20:00 | 2234168 MarcusLCrassus
MarcusLCrassus's picture

Or with Iran: WAR WERE DECLARED

Thu, 03/08/2012 - 03:02 | 2235057 Freddie
Freddie's picture

Hope and Change with the Chicago Mohammed.

Wed, 03/07/2012 - 19:38 | 2234083 SHEEPFUKKER
SHEEPFUKKER's picture

Haha. Very funny.  The Swissie used to be nearly as good as gold until they pegged it to the Euro. Nice move Fuckwits.  Now you want your gold back.  You can't have it both ways. 

Wed, 03/07/2012 - 20:51 | 2234329 nmewn
nmewn's picture

+1

Yes...and at one time the Swiss could be trusted not to roll on you. They used to take it as a source of national pride (trust, secrecy & neutrality).

No more.

Of all the ethically challenged people in the world to bow & scrape to, it wound up being Geithner & Holder they lost their virginty to...lol.

Fuck the Swiiss.

Wed, 03/07/2012 - 21:54 | 2234457 chinaguy
chinaguy's picture

Yeah I agree 100%, fuck the Swiss. They built their sovereignty on banking & trust (and gold) and then debased the only things that made their fiefdom exceptional....

...and my CHF holdings lost 10% in 14 seconds after they pegged it to the EUR.

they still make great hot chocolate,,,,but yeah, fuck 'em.

 

Wed, 03/07/2012 - 21:55 | 2234458 Fred Hayek
Fred Hayek's picture

Well, these ARE the people who were dipping fondue while we were kicking nazi butt. I mean, if you don't shift from code neutral to war mode when you're surrounded by the Wermacht, there's at least something a little wrong.

Wed, 03/07/2012 - 23:05 | 2234583 nmewn
nmewn's picture

I can certainly understand the "practical value" of being neutral when looking down the barrel of a gun. That's coercion of natural law & rights the world over can understand...lol.

At the same time I will never understand giving over ones national identity, sovereignty, rights and ethics to a simple piece of paper, a mere subpoena, where no one has a gun to your head.

Yeah, they've played both sides which made them special/neutral. Then they forgot their history of what made them special/neutral.

Now they've self identified as a part of the problem. Just another cog in a grinding wheel where ones wealth (once earned & taxed by Ceasar) cannot be claimed as their own...free & clear to do with as one pleases.

It's now a liability which they can't handle so people of means (which I'm not) shouldn't overburden the poor dears ;-)

Thu, 03/08/2012 - 01:10 | 2234871 Doña K
Doña K's picture

How can you not stay neutral if you don't have an army?

Thu, 03/08/2012 - 07:08 | 2235283 nmewn
nmewn's picture

They have preferred for a very long time to adopt a purely defensive posture and just deal after the fact with whatever happens around them.

Our founders saw merit in this concept as well, but it didn't last very long.

If men & women are left to their own devices and are not compelled to serve the country in the martial arts they will stay at home (untrained) until it's too late. It's just how many humans are wired. Unfortunately there are also many humans who are wired for conquest and to assert their primacy over others.

The Swiss compel it's male citizens to train & arm. We do not, opting for a volunteer army. But we both still have a military capability.

As long as we are around (people) there will be war. You can choose to disagree with it but it doesn't make it any less true ;-)

Thu, 03/08/2012 - 05:04 | 2235193 fredquimby
fredquimby's picture

It was more that the Wermacht knew every house was heavily armed and they couldn't be arsed taking the casualties of trying to take 'em over.

That still stands btw

Thu, 03/08/2012 - 07:49 | 2235316 Marty Rothbard
Marty Rothbard's picture

@ Hayek,

If we had wisely sat out WW1 as the Swiss did, there would  have been no WW2.  I blame it all on that bastard Wilson, along with the Federal Reserve, and the personal income tax.  The only thing that pisses me off, is that they recently bent over for the IRS.  I suspect they will realize how much banking business it has cost them, and reneg on the deal though.  If the US bitches, they can always ask politely to swap their FRNs for gold at $35 per OZ like Bretton Woods mandates.  What goes around, comes around bitchez!  

I deduct from your statements about the Swiss, and the Wermacht, that you have never been involved in a shooting war.  At least not one that you couldn't pause, while you retrieved a beer, from the fridge.  Remaining neutral, while fools battle all around you, is a masterly move.  I congratulate the Swiss.

Thu, 03/08/2012 - 08:09 | 2235327 Ghordius
Ghordius's picture

nmewn, how do you manage to sound like McCain today? In this conversation you somehow manage to

1. misconstruct how the Swiss got their neutrality (hint: the 1848 revolutions, look them up)

2. misconstruct what neutrality is about and how it works (trust and respect for individual privacy is part of it)

3. miscontruct why the SNB can't go yet back to gold (hint: you get creamed in the current environment)

4. and even miscontruct the Swiss Militia System - something you should look up, too - yes, it's based on a draft. In parcels, boot camp of one quarter of a year and then every X years Y weeks of active duty.

You know what? A Militia Draft is a good thing for democracy - instead of bragging about how well the US Citizen is armed and theoretically able to form a militia as per 2nd, the Swiss just do it and are it, until they get dismissed as greybeards for exceeding the military age (and may take their assault rifle with them home). It ensures the sovereignty of the Swiss People. It's the old American Ideal paired with some Swiss organization.

And the Swiss vote. And when the vote, it's an amendment to their constitution. Just digest this. It might give you ideas...

Compared to them, nobody else votes, we all just elect delegates and representatives, trusting them to do the right thing, hahaha.

Ethically challenged people my hat. You usually post sterling comments that are a pleasure to read, but here you sure hit the "I'm American, therefore I know everything better" button. Yes, the CHF is hiding. Why? Because there is a real Swiss economy at stake.

-------

sheepfukker, in your case it's probably better I don't even start...

Thu, 03/08/2012 - 20:21 | 2237870 nmewn
nmewn's picture

Didn't see you down here Ghordius...I touched a nerve...good ;-)

I'm well aware that they are allowed by the state to take their assault rifles home. There is a very big difference in the state allowing something and having it as natural right observed in law & therefore unassailable.

What you need to understand most about me is I don't believe in pure democracy, so voting to change the basic rules of law (the right of personal defense being first) whenever the winds of change blow through any society is a recipe for ruin.

Whose sovereignty was impeached without a shot even been fired?...over a demand, a piece of paper?

I'll let the sheepfucker comment lay as you were obviously agitated...

Fri, 03/09/2012 - 07:06 | 2239012 Ghordius
Ghordius's picture

the sheepfucker comment was not directed to you but this guy that is named this way http://www.zerohedge.com/users/sheepfukker further above

-----

You put it this way: "they are allowed by the state to take their assault rifles home". This is not the way the Swiss understand it - since they could change their constitution by democratic vote. Because they believe in democracy. Again, they have not the "Common Law" principles that are the foundation of your legal views.

And they see themselves as Sovereign - collectively. Which is the way most european understand Sovereignty, in a much clearer way than how it's understood wherever Common Law is the foundation of all legal principles.

I'm not judging - just stating some differences.   ;-)

Fri, 03/09/2012 - 07:37 | 2239046 nmewn
nmewn's picture

Understood.

And just between you and I (and a few million lurking...lol)...I was not slamming the Swiss people as much as their government for not jealously guarding the Swiss peoples sovereignty from any enemy as they are supposed to do.

This time it was my government assaulting it.

Take care ;-)

Wed, 03/07/2012 - 19:42 | 2234100 noses
noses's picture

Vaporized? But who has been smoking it all the time?

Wed, 03/07/2012 - 19:55 | 2234144 Pseudo Anonym
Pseudo Anonym's picture

yup. vaporized.  under WTC #4.

The fate of nearly $1 billion worth of gold, silver and other precious metals stored beneath the WTC before 9-11 continues to baffle many.

http://911research.wtc7.net/wtc/evidence/gold.html

Wed, 03/07/2012 - 20:48 | 2234311 tekhneek
tekhneek's picture

Thanks for sharing.

That same $230 million worth of gold ('bout 920,000 ounces) would be worth $1.55 billion today. Inflation's a bitch.

Wed, 03/07/2012 - 21:03 | 2234357 smlbizman
smlbizman's picture

see i understand were we as people always use the dollar as our beacon for value.....the proper way to say that would been ...you could have bought this gold 230 mill....now you have to pay 1.5 bil. ...so we have to break that habit. until we do we are still in their stadium

Wed, 03/07/2012 - 22:00 | 2234468 Real Money Wins
Real Money Wins's picture

I think they got the idea from the movie Die Hard. Blow up the building to hide the theft.

"when you steal 600 dollars you can just disappear, if you steal 600 million they will find you unless they think you are already dead."

Wed, 03/07/2012 - 23:28 | 2234620 mt paul
mt paul's picture

if you steal 600 million they will  find you "

unless 

'you' are 'they'

Wed, 03/07/2012 - 20:16 | 2234237 The trend is yo...
The trend is your friend's picture

Chavez was way ahead of the curve

Wed, 03/07/2012 - 20:36 | 2234295 Desert Irish
Desert Irish's picture

Yep and I the bet some of that gold has Swiss markings....the first out the ponzi scheme wins - just ask the Mets.

Wed, 03/07/2012 - 22:00 | 2234471 Fred Hayek
Fred Hayek's picture

Yeah, but it doesn't seem as though he's gotten all his gold, does it?

Thu, 03/08/2012 - 00:43 | 2234796 sun tzu
sun tzu's picture

Now he keeps getting cancer

Wed, 03/07/2012 - 20:45 | 2234290 gangland
gangland's picture

SO WHAT?

Die! die! die! die!

Scum sucking depravity debauched!

Anal fuck-fest, thrill olympics

Savage scourge, supply and sanctify

So what? so what?

Die! die! die! die!

assassin!

You said it!

Sedatives supplied become laxatives

My eyes shit out lies

I only kill to know i'm alive (US military)

So what? so what?

assassin

Die! die! die! die!
[ Lyrics from: http://www.lyricsfreak.com/m/ministry/so+what_20093936.htSo what,

it's your problem to learn to live with

Destroy us, or make us saints

We don't care

it's not our fault

that we were born too late

A screaming headache on the brow of the state

Killing time is appropriate

To make a mess and fuck all the rest,

we say

we say

So what? so what?

Die!

Now I know what is right

I'll kill them all if I like

I'm a time bomb inside
No one listens to reason

It's too late and i'm ready to fight!

so what!

now i'm ready to fight!

 

soooooooooo whaaaaaaaaaaaaaaaaaaaat???????????????????????

 

before u cum ur pants and accuse me of nazism FUK U!

 

cl33!> 2[-$eye$+/\//©3

 

 

 

Wed, 03/07/2012 - 20:48 | 2234321 Desert Irish
Desert Irish's picture

Oh dear.....my pants remain unstained just wondering whom you would like to fight?

Wed, 03/07/2012 - 21:58 | 2234467 chinaguy
chinaguy's picture

well, this is fightclub so all new comers are welcome, but don't you have to be at least 18 to play?

Wed, 03/07/2012 - 22:46 | 2234550 hamurobby
hamurobby's picture

Power to the people

Wed, 03/07/2012 - 22:46 | 2234551 Harlequin001
Harlequin001's picture

Cretin.

Wed, 03/07/2012 - 21:50 | 2234447 Chief KnocAHoma
Chief KnocAHoma's picture

The solar flares should knock out the computer records delaying this process weeks if not months.
Do I have to think of everything?

Thu, 03/08/2012 - 00:32 | 2234761 Son of Loki
Son of Loki's picture

"I have no ideawhere all that gold went."

Bill "the Corzine" Dudley, 2012 H2

Thu, 03/08/2012 - 04:24 | 2235148 bloostar
bloostar's picture

Anyone considered all the gold may have already been 'vaporized' on 9.11? Who's to say it wasn't held in the basement?

Thu, 03/08/2012 - 08:30 | 2235387 francis_sawyer
francis_sawyer's picture

STORE POLICY:

You broke it, you bought it...

Wed, 03/07/2012 - 19:55 | 2234074 Pinto Currency
Pinto Currency's picture

 

 

Wed, 03/07/2012 - 19:55 | 2234149 Schmuck Raker
Schmuck Raker's picture

Riots? What about riots?

I'd really like to see what riots in Switzerland would be like. Citizens dipping their fondue with their fingers? Yodeling off-key? Maybe they'll boycott Ricola and cough.

Wed, 03/07/2012 - 20:13 | 2234228 my puppy for prez
my puppy for prez's picture

Thanks for the great laugh!  Soooooooooooooooo hilarious!

In this world, laughter is the best defiance against tyrants!

Wed, 03/07/2012 - 20:19 | 2234249 Dr. Kananga
Dr. Kananga's picture

I don't know about you, but a mob of lederhosen-wearing guys waiving fully deployed swiss army knives in the streets would make me think twice about stepping out for chocolate.

Wed, 03/07/2012 - 20:33 | 2234286 GolfHatesMe
GolfHatesMe's picture

Thanks Dr. Laughed out loud on a crappy day! 

Wed, 03/07/2012 - 21:35 | 2234424 Money 4 Nothing
Money 4 Nothing's picture

Or a new coo coo clock for that matter! They are some gun totin Mo Foes, they really really love gun's in that Country BTW. They walk into a Starbucks with an AR 15 on a shoulder sling and I know if I worked there, I wouldn't want to fuk up anyones Latte, let alone a gold order. 

Thu, 03/08/2012 - 03:09 | 2235069 Freddie
Freddie's picture

No they carry something better than an AR15. SIG SG 550  SIGs are as accurate as most of the Swiss shooters.

http://en.wikipedia.org/wiki/SIG_SG_550

 

Thu, 03/08/2012 - 05:48 | 2235233 EasterBunny
EasterBunny's picture

So, they have amongst the highest per capita gun ownership in the world, but one of the lowest gun crime rates. They must be doing something right....

Thu, 03/08/2012 - 06:02 | 2235239 fredquimby
fredquimby's picture

I got me a new one last week. 'tis a sweet piece of kit :)

The ammo is super cheap too as it is subsidised :) Gotta love that. Taxes well spent imo! haha

Wed, 03/07/2012 - 20:57 | 2234343 TwelfthVulture
TwelfthVulture's picture

My American brethren showing, once again, that they are as ignorant regarding other countries as they are their own.

 

http://www.theblessingsofliberty.com/articles/article11.html

 

 

Thu, 03/08/2012 - 06:17 | 2235249 mrgneiss
mrgneiss's picture

Great link, thanks!

Wed, 03/07/2012 - 21:26 | 2234400 MonsterBox
MonsterBox's picture

Aren't the swiss fully armed and trained?  doubt those rifles will come out unless they're invaded, tho.

Wed, 03/07/2012 - 22:50 | 2234555 Harlequin001
Harlequin001's picture

'Aren't the swiss fully armed and trained?' - That would be an understatement...

If my understanding is correct, they are required to complete national service and are then required to keep the weapon they are issued with at home, and remain proficient with it.

Unlike the US of course, where any old tosser can get one...

Wed, 03/07/2012 - 23:28 | 2234622 Ropingdown
Ropingdown's picture

Unlike the US of course, where any old tosser can get as many as he can fit in his apartment.

Thu, 03/08/2012 - 10:38 | 2235758 prole
prole's picture

Unlike the US of course, where every old tosser has to have a bunch of rifles to shoot redcoats every time they get uppity.

Thu, 03/08/2012 - 06:03 | 2235243 fredquimby
fredquimby's picture

Mine comes out every week along with my Model 19 .357 and my HnK P30

 

 

Thu, 03/08/2012 - 00:19 | 2234726 TheFourthStooge-ing
TheFourthStooge-ing's picture

Schmuck Raker said:

I'd really like to see what riots in Switzerland would be like. Citizens dipping their fondue with their fingers? Yodeling off-key? Maybe they'll boycott Ricola and cough.

Dude, it's not a pretty sight. They go full-auto postal on their cheese.

 

Thu, 03/08/2012 - 04:30 | 2235158 Overflow-admin
Overflow-admin's picture

What about rioters with armed with snowboards and ski poles? Or fondue forks? Don't underestimate the swissies, they have secret black belt techniques with it.

Thu, 03/08/2012 - 06:07 | 2235246 fredquimby
fredquimby's picture

The Swiss Sig 550 does indeed have Full-Auto mode. Most have had it locked off though for civvies to use. My gun-shop dude sold me his locked 550 as he laughingly said you can always get a full-auto one in max 10 minutes of walking around the train station (the swiss lads are not that attentive when taking their Stgw's home it seems)

 

Thu, 03/08/2012 - 08:04 | 2235337 GCT
GCT's picture

The AR equaling an assault rifle is the biggest scam the politicians put forth and the sheeple believed it.  AR actually stands for Armalite the original producer of the M15 that did not win the contract.  They sold the patents to Colt who later with politicial ties got the military to accept their rifle as the M16.  Sig also makes a fine gas piston AR15 as opposed to the gas inpingement system. 

Wed, 03/07/2012 - 19:45 | 2234111 Strider52
Strider52's picture

"I have absolutely no idea where the gold went."

This could get ugly fast.

Wed, 03/07/2012 - 20:23 | 2234259 frieswiththat
frieswiththat's picture

Dear Germany and Switzerland...I would like to be the first person to advise you of something we in the industry like to call "Counter Party Risk." may i suggest you solicit the ISDA to review your case, im sure they will also tell you to fuck off!

 

Thu, 03/08/2012 - 00:48 | 2234817 Son of Loki
Son of Loki's picture

How do you say, "tungsten" in Swiss?

Thu, 03/08/2012 - 04:15 | 2235141 Overflow-admin
Overflow-admin's picture

tungstène

Wed, 03/07/2012 - 22:38 | 2234534 Silver Bug
Silver Bug's picture

Good luck Switzerland, I think you may discover that Corzine vaporized it.

 

http://ericsprott.blogspot.com/

Wed, 03/07/2012 - 22:56 | 2234567 Buck Johnson
Buck Johnson's picture

I"ve always wondered why these countries (especially ones in Western europe that are supposedly stable), store there gold and precious metals in the US.  I mean to be honest with you possession is 9/10 of the law.  What if the US decides and say we can't give you this gold at this time or tell you that it's gone and you go along with it still being there or we will put financial and international pressure on you. 

Wed, 03/07/2012 - 23:45 | 2234664 geekgrrl
geekgrrl's picture

<sarc> Well, I never. The United States is good to its word, and how dare you impugn the full faith and credit of the United States! </sarc>

Hahahaha.... And, it's gone...

Thu, 03/08/2012 - 00:44 | 2234797 youngman
youngman's picture

I think that is exactly what they are thinking too....hhmmmm..maybe its time to get our gold back on our soil...things are getting a little iffy out there...and we can´t trust anyone..so lets bring it on home...good idea to me...

Wed, 03/07/2012 - 23:11 | 2234591 bagholder
bagholder's picture

Price solves everything

Wed, 03/07/2012 - 23:11 | 2234592 bagholder
bagholder's picture

Price solves everything

Wed, 03/07/2012 - 23:19 | 2234606 Falkor
Falkor's picture

India has 225Tonnes of gold, roughly half of its official reserves stored at BOE. 

RBI's is next.

Don't know to laugh or to cry. 

Thu, 03/08/2012 - 00:00 | 2234689 Silvergood
Silvergood's picture

Rehypothocated???      Keep buying silver while its available!!!

Thu, 03/08/2012 - 02:34 | 2234998 SilverRhino
SilverRhino's picture

And next up, the PERFECT false flag attack.  

Nuke detonated in or around 33 Liberty Street NYC vaporizes all the paper gold receipts stored on behalf of Switzerland and Germany and completely galvanizes American sentiment into a cry for Iran's blood.  

 

Thu, 03/08/2012 - 04:14 | 2235138 Overflow-admin
Overflow-admin's picture

Call Jon Corzine, he know how to deal with that kind of situations ^^

Wed, 03/07/2012 - 19:40 | 2234064 Bill D. Cat
Bill D. Cat's picture

Finally , a job worthy of Geraldo's unique skills .

Wed, 03/07/2012 - 21:28 | 2234406 Money 4 Nothing
Money 4 Nothing's picture

Aaand, was that the Geraldo episode where he opened that safe and it was empty? Part Duex? 

Wed, 03/07/2012 - 22:37 | 2234527 mick_richfield
mick_richfield's picture

But -- now that the whole world was disappointed by the echoing emptiness of Al Capone's Vault -- it would be the last place the Swiss would think to look!

( Please don't tell them. )

Wed, 03/07/2012 - 19:37 | 2234071 PaperBear
PaperBear's picture

Switzerland and

Germany to Repatriate Reserves ?

F**KING HOLY MOTHER OF GOD !!

Wed, 03/07/2012 - 22:25 | 2234506 Unprepared
Unprepared's picture

If that's not a declaration of war, I don't know what is.

Wed, 03/07/2012 - 22:39 | 2234538 mick_richfield
mick_richfield's picture

I wonder if they'll send those tough-looking guys in the funny pajamas like they rent to the Vatican?

Wed, 03/07/2012 - 22:51 | 2234557 Unprepared
Unprepared's picture

.. armed to the teeth with swiss knives.

Thu, 03/08/2012 - 00:54 | 2234838 boattrash
boattrash's picture

Maybe TPTB saw this coming, it could be the reason to have gone out collecting gold from Libya?

Wed, 03/07/2012 - 19:38 | 2234072 lolmao500
lolmao500's picture

Switzerland, the only country with a real democracy with intelligent voters.

Now if they could pass those 3 laws, the crooked Switzerland CB would be in big trouble.

Gonna be funny to see how much of that gold is tungsten... if they EVER test it...

Or will they ```liberate`` Iran and Syria from their gold before accepting that request?

Wed, 03/07/2012 - 20:15 | 2234235 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It worked last time.  Libya was liberated and Chavez got his gold (although if they shipped him some boxes of Tugsten I wonder if he would have said anything).  o now Germany and the Swiss need gold so Syria and Iran get liberated.  The perfect plan.

Wed, 03/07/2012 - 20:23 | 2234258 grid-b-gone
grid-b-gone's picture

Add Iceland to that list.

Wed, 03/07/2012 - 19:37 | 2234075 MarkTwainsMustache
MarkTwainsMustache's picture

A run of gold from the Federal Reserve system? That would be AWESOME.

Wed, 03/07/2012 - 20:02 | 2234181 XitSam
XitSam's picture

It may even require an audit.

Wed, 03/07/2012 - 20:18 | 2234244 Piranhanoia
Piranhanoia's picture

And a committee.

Wed, 03/07/2012 - 20:24 | 2234255 Money 4 Nothing
Money 4 Nothing's picture

And they better have a commission too. Like those guy's from 9/11, they did a real bang up job.

Thu, 03/08/2012 - 03:13 | 2235079 Freddie
Freddie's picture

Whenever a "commission" is appointed in America it is a code word for coverup.

Thu, 03/08/2012 - 09:41 | 2235569 tocointhephrase
tocointhephrase's picture

Major Backwardation coming bitchez

Wed, 03/07/2012 - 20:47 | 2234319 Cheesy Bastard
Cheesy Bastard's picture

Maybe even a super committee

Wed, 03/07/2012 - 21:33 | 2234419 Poundsand
Poundsand's picture

And the results of that audit?

I am sorry, but it appears that all 3,400 tons of what you thought was gold that you stored with us, under close inspection appears to be tungsten.  Who would have thought?

Got us to thinking and we checked our's.  Fortunately, all of turned out to be the real stuff.  Wierd how that worked out.

Will UPS work?

Do NOT follow this link or you will be banned from the site!