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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:

 

 

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Wed, 03/07/2012 - 19:46 | 2234076 DavidPierre
DavidPierre's picture

Everyone knows that everything ... debt... is impaired ... bankrupt. 

 The Fed, ECB, banks here there and everywhere are carrying bonds on their books at par, that in reality won't fetch more than 20 cents on the Dollar. They are cooking the books.

Another huge debt event is imminent in Greece ... Lehman squared... because systemic leverage and outstanding derivatives are much higher.  Not to mention that Greece is a country and countries don't go broke. Now "in this era", as Cramer puts it, we are to believe that you don't want to own Gold?  Because "it might go broke"?

It cannot!  Because it's backing will come into question like sovereign debt?

It has no "backing" because it doesn't need any.  It simply has value because it is money and always has been. In all of history, Gold has always been the best asset to own during a deflation because it is money itself.  Conversely, it has also been the primo asset in hyperinflation because it is raw, real money. Only during good times does your need to own some Gold lessen.  These...are not those times.

The picture being painted for us is this, Gold ...real money... will cost less in terms of pieces of paper, issued by bankrupt entities who have already issued too many of these pieces of paper. These pieces of paper that are issued by over leveraged entities that can only issue more of these pieces of paper to survive, will appreciate in value when the problem is that too many pieces of paper have already been issued? Makes total sense, right?

We are going through another paint job and they are scaring us again.

Are you going to believe your own eyes or your own common sense and logic? Turn your Gold in for pieces of paper, already over issued and in the limelight of bankruptcies? OR ...sit back with some popcorn, watch the show and hold ...buy more Gold?

A pretty simple decision and one that the rest of your financial life depends on!

www.lemetropolecafe.com

Wed, 03/07/2012 - 20:00 | 2234164 AUD
AUD's picture

The Fed, ECB, banks here there and everywhere are carrying bonds on their books at par, that in reality won't fetch more than 20 cents on the Dollar. They are cooking the books.

That depends what you mean by dollar. They are still cooking the books but if you mean Federal Reserve Note then it makes no difference since the Federal Reserve Note is given its value by the bonds on their books.

If you mean the constitutionally defined dollar though....

Wed, 03/07/2012 - 19:41 | 2234079 moriarty
moriarty's picture

Call me stupid as I surely am but why on earth would any nation want any of its gold reserves stored outside its own boarders at any time never mind the times we are now living in?

Wed, 03/07/2012 - 19:41 | 2234097 nope-1004
nope-1004's picture

How does it go?

"During times of blantant propaganda, the rational seems irrational" or something like that.

Wed, 03/07/2012 - 20:52 | 2234331 tekhneek
tekhneek's picture

Well there's "during times of universal deceit telling the truth becomes a revolutionary act" but ... I'm not sure if that's the on you're looking for?

Orwell said that.

Wed, 03/07/2012 - 22:22 | 2234502 ljag
ljag's picture

"It is better to have dope in times of no money than money in times of no dope"............FF Freak Brothers

Fri, 03/23/2012 - 04:19 | 2282772 geekgrrl
geekgrrl's picture

LOL. Nice find! On a .gov site too!

Thu, 03/08/2012 - 02:00 | 2234957 putaipan
putaipan's picture

yeah...i can't remember whether it was fat freddy or freewheein'frankilin either.

Wed, 03/07/2012 - 19:42 | 2234098 Global Hunter
Global Hunter's picture

Its not stupid but I think it was done for security purposes back when the sheep were more sheepish and the ponzi appeared that it could never end.  Small countries rather than worry about an army to protect their gold could store it with the full protection of the US government.  

Sounds strange I know but it wasn't that long ago it was not.

Wed, 03/07/2012 - 20:45 | 2234313 unrulian
unrulian's picture

it's like keeping your light saber in a safe deposit at the CBE (Chancellors Bank of the Empire) in the death star while you vacation on Naboo.......are you retarded?

Wed, 03/07/2012 - 21:02 | 2234352 Big Corked Boots
Big Corked Boots's picture

.

Wed, 03/07/2012 - 19:47 | 2234118 Seditious Blasphemer
Seditious Blasphemer's picture

No, you're not stupid. Most people would ask the same.

This video explains it so simply, you would have to be willfully ignorant not to understand.

http://www.youtube.com/watch?v=ZPWH5TlbloU

Wed, 03/07/2012 - 20:30 | 2234277 Likstane
Likstane's picture

Most excellent video.  Much thanks.  Good for helping others to see the truth. 

Wed, 03/07/2012 - 19:48 | 2234121 Rainman
Rainman's picture

why..why..they enjoy the protection of the full faith and credit of the United States of America. This is a no brainer !

Wed, 03/07/2012 - 20:08 | 2234193 swissaustrian
swissaustrian's picture

Two reasons:

1. Gold leasing (a physical transaction) takes place in London and NY.

2. It's a cold war relic. NY was deemed safer than continental Europe.

Wed, 03/07/2012 - 20:12 | 2234221 FlyingDutchman
FlyingDutchman's picture

Didn't most European countries transport their gold in the 1930's to the US because they were afraid of the WW2 nazi looting coming?

Wed, 03/07/2012 - 21:01 | 2234353 Nid
Nid's picture

Jeezes....haven't any of you seen Kelly's Heros?

Wed, 03/07/2012 - 21:57 | 2234464 Dead Canary
Dead Canary's picture

The reason they wanted it here is they were afraid the Russians would get it.

Wed, 03/07/2012 - 23:31 | 2234624 Money 4 Nothing
Money 4 Nothing's picture

Hmm, good call. Now the Cartel get's it.

Can they use the Solar Flare that hit's tomorrow as an excuse?

Wed, 03/07/2012 - 19:39 | 2234084 Global Hunter
Global Hunter's picture

Its like "he who defaults first defaults best" rule that I learned here at ZH, he who asks for his gold back first...uhh...might actually get it?  

Wed, 03/07/2012 - 19:45 | 2234112 Hugo Chavez
Hugo Chavez's picture

The european union is about a twenty trillion dollar economy right?

The world is in serious trouble if they actually start worrying about a hundred billion dollars of gold.

If the evonomy deflated to match the gold available, or gold inflated to match the economy it would definitely be hitting the reset button.

Wed, 03/07/2012 - 19:54 | 2234141 Global Hunter
Global Hunter's picture

how much is that hundred billion of gold in today's dollars worth in tomorrow's dollars when 10 other parties have legal claim to said gold?  If it exists...

Wed, 03/07/2012 - 20:19 | 2234248 tmosley
tmosley's picture

Chavez, bitchez.

Wed, 03/07/2012 - 19:56 | 2234153 Herkimer Jerkimer
Herkimer Jerkimer's picture

I called me mommy today, to tell her about the Jerries wanting an accounting of their gold stored outside their country (?) and that they maybe want it back.

I asked her, (She turned her husband's teacher's salary into about a million bucks, a home, a cottage and other stuff.. Yippee! For me!) how long would it take for her to give me a complete itemized total of her assets, to within a thousand bucks.

She said she wouldn't be able to tell me accurately what the interest on the bonds would be for the month, but about 10 minutes.

So how come these banks don't know EXACTLY WHERE and HOW MUCH gold THEY have? This should be priddy simple schtuff to have on hand, you know, accounting, numbers and shit, and that kind of stuff, that, well, banks are supposed to have and be able to do?

Now, if the Fed is storing their gold for them, why is that? What about good ol' Fart Knox? Who's gold is that? Not that any of you listen to Coast but George Noory says there ain't any in there.

And since Ron Paul can't get a peek, I'm inclined to think that those with nothing to hide...

The nerve of them! Wanting their gold back!

 

Isn't it interesting how the little people are being told that gold is not for them, and it's a bubble and they'll get burned, but all the big boys are quietly and now not-so quietly, grabbing theirs?

 

I wonder what would happen if I took those nifty little Scotia Macado gold bars that are oh, so conveniently wrapped in a sealed plastic container, broke it open and scratched into the "gold" what I'd see in it?

I'm sure it would be... Gold.

I'm sure...

Aren't you?

Make a pretty good scam, because after all, who would really crack open that case?

•?•
V-V

 

Thu, 03/08/2012 - 06:29 | 2235259 fredquimby
fredquimby's picture

I have a few loose in my aquarium. I am hoping they will breed.

P.S It smells and bites like gold to me.

;)

Thu, 03/08/2012 - 06:33 | 2235261 mrgneiss
mrgneiss's picture

Actually, many people are saying there is no gold at Fort Knockers, especially the people in the surrounding community:

http://bit.ly/AbGFT7

I wonder what happened to it?

Thu, 03/08/2012 - 08:24 | 2235368 chubbar
chubbar's picture

That is why it is better to buy gold coins instead of bars. 1). Much harder to fake 2). Don't need to assay them

Go get yourself one of these http://www.fisch.co.za/orderonline.htm#pricing to ensure that you are not getting passed a fake coin and you are all set.

Thu, 03/08/2012 - 10:52 | 2235807 prole
prole's picture

Gold/Silver coins can be faked. Are faked. Fisch tester is obsolete by ? years, it will catch some fakes, not new ones.

Best to be an expert, or to buy from experts that you can trust.

Wed, 03/07/2012 - 19:41 | 2234092 AUD
AUD's picture

why are the international central banks not disclosing what their people demand?

Since when have they ever?

Wed, 03/07/2012 - 19:41 | 2234095 UpShotKnotHoleGrable
UpShotKnotHoleGrable's picture

HAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAAHAHAHHAHAHAHAHHAaa

a

hjaAAHAHAHAHAHAAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAa
a
a

ahja
Ha
Hah
ah
Ah

ahaa HAHAAHAHAto

ETERNITY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Thu, 03/08/2012 - 21:33 | 2234128 tallen
tallen's picture

Muahhahahahaa. (WHEEZE) . MUHAHAHHA.

 

Watch them crash the markets now to try and stall gold repatriations. I can't wait to here the BS that's going to come from this, it's going to be LEGENDARY.

On a short enough timeline the gold in the New York fed drops to zero.

Wed, 03/07/2012 - 19:53 | 2234140 Zero Govt
Zero Govt's picture

Yes this is friggin hilarious

...next Germany will want theirs back

What is this doing for New Yorks reputation, like nobody trusts them any longer (can't imagine why)

End of Empire is sliding away before our very eyes

Wed, 03/07/2012 - 20:01 | 2234163 AbruptlyKawaii
AbruptlyKawaii's picture

"On a short enough timeline the gold in the New York fed drops to zero"

fantastic!

 

listen if u put ur tinfoil hats on for a sec, check out the news in the us from 1934 to 1938.

 

ALL U WILL SEE in the said new papaers ( use google news archives, they have them all)

 

you will see that china delivered to the usa TONS OF buillon GOLD

 

white dragon society anyone?

 

 

ahahahahahaahahahahahahahahahaahahahah fuk u ben shalom fuk wad i cum in ur name cokskr

 

http://www.youtube.com/watch?v=bz4vWvuPXKY

 

Wed, 03/07/2012 - 20:22 | 2234256 Poor Grogman
Poor Grogman's picture

Imagine the best case scenario for the PTB , then double it.

New headlines ....

"Terrorist attack contaminates gold reserves, Iran suspected.
Cleanup will take years."

There you go, killed two birds with one stone.

Do I have to do all the thinking around here? You tin foilers are just not having a go...

Or am I too cynical?

Wed, 03/07/2012 - 20:34 | 2234288 Likstane
Likstane's picture

Is that bullish for my little uncontaminated stack?

Wed, 03/07/2012 - 20:38 | 2234303 The Disappointed
The Disappointed's picture

"Terrorist attack contaminates gold reserves, Iran suspected.
Cleanup will take years."

Wasn't that the plot of Goldfinger?

Wed, 03/07/2012 - 22:38 | 2234528 Harlequin001
Harlequin001's picture

Pussy was definately NOT Iranian...

Wed, 03/07/2012 - 22:54 | 2234565 Alea Iactaest
Alea Iactaest's picture

No, not too cynical. Too cynical would be to say that the Fed put Germany and Switzerland up to the task to initiate said attack.

Wed, 03/07/2012 - 19:45 | 2234110 Benjamin Glutton
Benjamin Glutton's picture

What's the half life of goldtonium?

 

It will all be very unforeseen no doubt...

Wed, 03/07/2012 - 19:49 | 2234124 Big Ben
Big Ben's picture

I said it before and I'll say it again.

If there is one lesson that US history teaches it is this: DO NOT trust your gold to the US government.

Wed, 03/07/2012 - 19:53 | 2234138 Thomas Jefferson
Thomas Jefferson's picture

Or Gordon Brown.

Wed, 03/07/2012 - 19:54 | 2234143 tallen
tallen's picture

Or any politician in general (except Ron Paul).

Wed, 03/07/2012 - 19:56 | 2234152 Global Hunter
Global Hunter's picture

The buyer of that gold refers to him by his nickname Gordon Broker

Wed, 03/07/2012 - 19:57 | 2234155 Zero Govt
Zero Govt's picture

or any Scottish Marxists

Wed, 03/07/2012 - 20:08 | 2234198 my puppy for prez
my puppy for prez's picture

Or any Freemasons...

Wed, 03/07/2012 - 20:12 | 2234223 Money 4 Nothing
Money 4 Nothing's picture

Or a bastard child named Barry Soetoro. Just sayin.

Thu, 03/08/2012 - 02:12 | 2234971 cowdiddly
cowdiddly's picture

Never trust anyone who says "Trust Me"

Wed, 03/07/2012 - 20:02 | 2234176 Strider52
Strider52's picture

DO NOT trust the US government. There, fixed it for ya.

Wed, 03/07/2012 - 19:50 | 2234126 Clycntct
Clycntct's picture

Looks like more are wondering what they have.

Germany to Review Bundesbank Gold Reserves in Frankfurt, Paris, London and Federal Reserve Bank of New York

http://www.goldcore.com/goldcore_blog/germany-review-bundesbank-gold-res...

Wed, 03/07/2012 - 20:43 | 2234310 NoClueSneaker
NoClueSneaker's picture

"You Krauts wanna gold ? OK, there is an ISDA default event. All of your mighty banks r toast - we'll keep a gold as collateral, Lloyd shorted yer shithouses to death, and after we officially confiscated your gold, you still owe us 2500 Tons.... "

 

... something like that ...

Wed, 03/07/2012 - 19:53 | 2234133 The Heart
The Heart's picture

Hello good folks,

Just a humanitarian plead to help ol John Stadmiller and his network RBN during their time of need. This has been a great place to get real news over the years and they really need your help now. Just a few silver coins can make a difference here. If you have the time, please take a listen to John Stadtmiller and Michael Rivero on RBN during the day. There are a lot of good hearted deep pockets here on ZH and it would only take one to help these good folks get through these rough times.

http://republicbroadcasting.org/

Wed, 03/07/2012 - 19:51 | 2234134 Thomas Jefferson
Thomas Jefferson's picture

Smells like a false flag attack on 33 Liberty St is imminent.  Pull it Larry Pull it?

No gold for you Germany.  Sorry Switzerland.  How about a crate of FRN's instead?  Better get some shovels and pans.  Im sure there is some gold in the Alps.

Wed, 03/07/2012 - 20:00 | 2234167 tallen
tallen's picture

In other Onion News: Office fires in 33 Liberty Street have burnt all the gold at the New York Fed, central banks around the world are in shock.

Wed, 03/07/2012 - 20:08 | 2234194 Money 4 Nothing
Money 4 Nothing's picture

Yea, vaporised, like flight 77. Muthr fuc Global et al.

Thu, 03/08/2012 - 01:50 | 2234939 Dead Canary
Dead Canary's picture

Uh.. It's all been eaten. On toast with iPod gravy. Yea, that's it.

Wed, 03/07/2012 - 20:05 | 2234186 Money 4 Nothing
Money 4 Nothing's picture

(Police on the Bullhorn)

Get back! the building is going to come down!! Former Psychic news network employee obviously.

Wed, 03/07/2012 - 19:52 | 2234135 dondonsurvelo
dondonsurvelo's picture

So you want us to open up our books and tell you who has accounts in Swiss banks.  Well fine but first give us our gold back.

Wed, 03/07/2012 - 19:55 | 2234145 e_goldstein
e_goldstein's picture

"...and that, Dorothy, was how the largest bank run in human history began."

Wed, 03/07/2012 - 19:56 | 2234147 swissaustrian
swissaustrian's picture

This is not breaking news (it hit Swiss papers on 9-20-2011)
Switzerland has a system of direct democracy. The people can demand a referendum on all new federal laws. Changes of the federal constitution are always subject of a referendum. The Swiss constitution offers the institution of a "constitutional initiative". If a certain number of people sign a petition to change the constitution, then a nationwide referendum will be held.
Recently, the Swiss Peoples Party (SVP), mainly a neocon collectivist party, has launched a constitutional initiative to ban gold sales by the Swiss central bank (SNB), to require the SNB to hold at least 20% of it´s assets in gold, and to store all Swiss gold in Switzerland.

This is obviously a great idea. I´m actively trying to get signatures right now, although I´m not a member of this party and I think most of their positions are terrible. I´m confident that we´ll get enough signatures (100000 reuired by march 2013) to have a referendum. Most political parties will not support our cause, but the Swiss people have prooven that they´re voting against their politicains if they think a certain cause is just.
The icing on the cake is that - if passed - the initiative could cost us our IMF membership, because it effectively means instituting a partial gold standard (20% of the SNB assests in gold, all the time) which is prohibited for IMF members.

Official text of the initiative, translated by microsoft:

Federal popular initiative 'Save our Swiss Gold (gold initiative)'IThe Federal Constitution1 is amended as follows:

Article 99 (new) Gold reserves of the Swiss National Bank

1 The gold reserves of the Swiss National Bank are not for sale.

2 The gold reserves of the Swiss National Bank must be stored in Switzerland.

3 The Swiss National Bank has to keep their assets to a large extent in gold. The gold content shall be not less than twenty percent.

http://www.microsofttranslator.com/bv.aspx?ref=IE8Activity&from=de&to=en&a=http%3a%2f%2fwww.admin.ch%2fch%2fd%2fpore%2fvi%2fvis415t.html

Thu, 03/08/2012 - 00:28 | 2234746 Clay Hill
Clay Hill's picture

Good luck with collecting the signitures.

When is the vote scheduled?

I read that Wegelin has recently entered negotiations with the US over the criminal charges against them, and wonder if they can impede the process until it is passed.

Thu, 03/08/2012 - 08:29 | 2235384 chubbar
chubbar's picture

Getting rid of the IMF would be the best thing that ever happened to your country. Telling the U.S. gov't to fuck off would be a close second, hopefully that will happen as well.

Unfortunately I think 2013 to going to be too late to be trying to get your gold back.

Thu, 03/08/2012 - 11:10 | 2235869 prole
prole's picture

Thanks for the on the scene report from Swiss. Good luck keeping your gold and your freedom.

Why don't you Swissies hold the gold in your houses like you keep your weapons there? The better to defend it non?
Let every militiaman be issued 10 ounces of gold when he is issued his rifle? Go ahead and put that on the referendum, no need to thank me for the idea, just maybe Swiss Citizenship is all I need for me effort...

Wed, 03/07/2012 - 19:58 | 2234154 JLee2027
JLee2027's picture

The drip turns into a trickle, then a stream and finally the dam will burst.

Wed, 03/07/2012 - 19:58 | 2234158 WizDumb
WizDumb's picture

Tungsten to the SKY !!!!

Wed, 03/07/2012 - 19:59 | 2234160 MarcusLCrassus
MarcusLCrassus's picture

But what on earth would they need with a bunch of barbaric relics? 

 

Go around clubbing saber tooth tigers? 

Wed, 03/07/2012 - 20:01 | 2234174 Money 4 Nothing
Money 4 Nothing's picture

Aaaand.. It's gone!!! Well, good luck with that Switzerland, go through the same hell Germany did.

 

Vaporization...

Wed, 03/07/2012 - 20:18 | 2234178 lolmao500
lolmao500's picture

Bullish tungsten!

Or maybe that's what's gonna be the false-flag... an ``Iranian nuclear bomb`` blowing up Fort Knox??

It would be win/win/win for the banksters.

Step 1 : get real gold out

Step 2 : blow up Fort Knox.

Step 3 : Start a war with Iran.

Step 4 : Profit

Wed, 03/07/2012 - 23:03 | 2234579 Bastiat
Bastiat's picture

Where's Pussy Galore when you need her?

Thu, 03/08/2012 - 04:00 | 2235126 goldfish1
goldfish1's picture

911 Part Duex

 

  • Step 1 : get real gold out
  • Step 2 : blow up WTC Fort Knox.
  • Step 3 : Start a war with Iraq Iran.
  • Step 4 : Profit

 

Wed, 03/07/2012 - 20:02 | 2234180 rufusbird
rufusbird's picture

once again...."you just can't make this shit up!"

Wed, 03/07/2012 - 20:04 | 2234183 alien-IQ
alien-IQ's picture

Q: Why would someone refuse to prove they have what they claim to have despite the damage to their reputation and credibility that refusal causes?

A: Because they do not in fact have that which they claim to have and the revelation of such will be far more damaging than the loss of credibility suffered by refusing to provide proof.

In short: If they had it they'd show it. They don't because they don't.

Wed, 03/07/2012 - 22:29 | 2234510 Fred Hayek
Fred Hayek's picture

Or, if they ever did try to prove it, you'd see something like Kyle Bass said he saw when he asked them to show him his clients' gold at one vault. They said, yes Mr. Bass of course we have all your clients' bars. And they pointed to one bar among many low on the shelves against the north wall and one bar amongst many high off to one side on the east wall and one bar amongst many in the middle shelf on the south wall etc . . etc . .

For bars that were supposedly in one ownership and should have been grouped together they were stored suspiciously like bars encumbered by many different claims of ownership.

Wed, 03/07/2012 - 20:04 | 2234184 my puppy for prez
my puppy for prez's picture

Repatriating gold and "fake" billion dollar bonds....you can't make this stuff up!

Wed, 03/07/2012 - 20:06 | 2234187 Winston Churchill
Winston Churchill's picture

Corzined.

Wed, 03/07/2012 - 20:08 | 2234199 alien-IQ
alien-IQ's picture

Good Word! I like it. It even sounds official and technical:

"Dude, where's my money?"

"Sorry man, it got Corzined".

That's a keeper!

Wed, 03/07/2012 - 22:59 | 2234571 Alea Iactaest
Alea Iactaest's picture

Can we at least make it 'corzined' then?

Wed, 03/07/2012 - 23:00 | 2234572 Alea Iactaest
Alea Iactaest's picture

duplicate

Wed, 03/07/2012 - 23:06 | 2234586 mr. mirbach
mr. mirbach's picture

Corzined is easier than unrehypothecated...

Wed, 03/07/2012 - 23:14 | 2234597 Winston Churchill
Winston Churchill's picture

Sounds better than "my dog ate it" as well.

Wed, 03/07/2012 - 20:08 | 2234191 XitSam
XitSam's picture

Bernanke in Congressional testimony January 2013: I did not intend that any of the gold in the Federal Reserve's custody be leased or sold.

Wed, 03/07/2012 - 20:10 | 2234213 alien-IQ
alien-IQ's picture

I guess that's Bernanke's version of : "I did not have sexual relations with that girl"

Wed, 03/07/2012 - 20:09 | 2234205 Conax
Conax's picture

The MFG caper is causing some nail biting over in Europe, too.

Good.

Wed, 03/07/2012 - 20:09 | 2234208 Sunshine n Lollipops
Sunshine n Lollipops's picture

Dear Switzerland,

All your gold are belong to us.

Wed, 03/07/2012 - 20:11 | 2234215 loveyajimbo
loveyajimbo's picture

Since the crooks fought hard to prevent the Ron Paul audit of our gold, methinks someone is going to be embarassed...  Also, what ever happened to all that gold under the World Trade Towers??  Oh, forgot, it "vaporized"... just like LOTS of other things like airplane engines and bodies.  Vaporized.

Wed, 03/07/2012 - 20:12 | 2234219 Rattling Bones
Rattling Bones's picture

"You'll get nothing and like it."

      -Judge Smails

 

Wed, 03/07/2012 - 20:13 | 2234227 digalert
digalert's picture

I can give you 1.2 billion reasons why keeping a commodity in New York is a bad idea. Things happen to disappear, for example.

Wed, 03/07/2012 - 20:19 | 2234246 Thomas Jefferson
Thomas Jefferson's picture

Including skyscrapers.

Wed, 03/07/2012 - 21:43 | 2234266 Money 4 Nothing
Money 4 Nothing's picture

Oh fuk! Your one of those conspiracy theory people ain't cha?

The official report form NIST was if fell in sympathy, mystery solved.

Here is the problem and why they stopped printing this message on their first Bills.

http://www.jeffpolachek.com/images/Lawful-Money/Twenty%20Dollar%20FRN%20Redeemable%20in%20Lawful%20Money.jpg

Wed, 03/07/2012 - 20:30 | 2234278 SAT 800
SAT 800's picture

My personal favorite was the Heroin from the NYPD evidence room. Hundreds of pounds of it. "Well, we don't know where it went". OH, I see.

Wed, 03/07/2012 - 20:15 | 2234234 Piranhanoia
Piranhanoia's picture

Hugo is looking smarter, his legacy is getting larger.

Wed, 03/07/2012 - 20:16 | 2234236 grid-b-gone
grid-b-gone's picture

One reason to audit the Fed is to find out how many times the gold has been loaned out to multiple customers.

With almost every Fed member a full believer in uncapitalized derivatives and a max 10% capitalization for any asset, it is unlikely that the citizens' gold sits 100% owned free and clear and performing its stability function unimpaired. 

Wed, 03/07/2012 - 20:20 | 2234251 web bot
web bot's picture

If the gold has been loaned out... this could be a nasty event...

Wed, 03/07/2012 - 20:21 | 2234252 Richard Head
Richard Head's picture

Wouldn't they rather have shares of LULU or NFLX?

Wed, 03/07/2012 - 20:56 | 2234253 Mercury
Mercury's picture

Idiots.

I've been bitching at the Swiss for at least a year about quandering their core competencies. If owning gold is actually a good idea, why did they print money last year and buy Euros with it?

This like the Trojan Rabbit scene in The Holy Grail:

OK, Now you, me and Hans take our gold and we...
What gold?
Our gold, the gold in our vaults, our national treasury...
We gave our gold to the Americans...
Oh...

Wed, 03/07/2012 - 20:31 | 2234264 dolph9
dolph9's picture

Everybody here should watch Die Hard With a Vengeance again.  On the surface it was just another summer popcorn flick.  But beneath the surface, there was a subtle message in the movie, how banksters had gotten control of the world's gold through the New York Fed.  In this case the German "terrorist" really just represented the banksters themselves.  And everybody else and the audience was playing the fool.

There was even this line "gold is the basis of the monetary system" which is an outright lie, the fiat dollar is.

Wed, 03/07/2012 - 20:27 | 2234269 SAT 800
SAT 800's picture

Whoa, this cheese is getting ripe.

Wed, 03/07/2012 - 20:30 | 2234276 kill switch
kill switch's picture

A Tale of Two Tales

What Real World? Fred Reed

March 5, 2012

As I listen to American fury against uncoöperative Afghans, to Congress furiously denouncing Pakistan for anemic aid in conducting the current wars, I sometimes wonder whether the US is playing with a full deck. The anger arises I suspect becaause the US and the rest of the world work from very different premises. They believe in, as we say, distinct narratives.

The American narrative holds that the United States is a light to the world, the freest, richest, most productive country the world has ever seen, the greatest military power, the most prolific producer of technlogy and of Nobel laureates. America is a force for freedom and democacry, a champion of human rights, a land of universal opportunity with liberty and justice for all. The Unites States is what all countries could be if they accepted our values. History supports this view. In a raw ccontinent, American energy and free enterprise carved a paradise from a wilderness.

This narrative, the belief that America is special among nations, favored by God, pervades the culture. Those old enough will remember that Superman fought for “truth, justice, and the American way.”

Underlying all of this is a profoundly moral view of America's place in the world. The United States does not fight, like the French, for glory or like the English, for empire, or like the Russians, to steal watches from the wounded. America fights against Evil, whether in the form of communism, terror, Islam, socialism, or the growing threat of enslavement by Chinese communism. These evils are real, Americans believe, immediate, and threaten us with tyranny.

The narrative of the US military springs from the national narrative. American soldiers are brave, wholesome young men selflessly sacrificing to overthrow brutal dictarors, to defeat terror, and to give the oppressed peoples the benefits of democracy. This actually happened in Japan, Germany, and Iraq, asserts the narrative. Sure, a bad apple among GIs may occasionally commit an atrocity, but these are isolated incidents and blown out of proportion by a leftist press.

Quite different is what might be called the World Narrative, held around the globe with differeing intensities and emphases. It holds the US to be an endlessly aggressive military power that is out of control, hypocritically speaking of democracy and freedom while supporting dictators and overthrowing elected governments. America is arrogant, crassly mateiralistic, crime-ridden, vulgar, racially unjust, the world's only avowed practicioner of torture, economically explotative, imperialistic and intolerant of other cultures.

The military form of the World Narrative holds that America savagely attacks weaker nations in pursuit of oil and empire, that it uses overwhelming technological superiority to butcher peasants armed with rifles, that atrocites are routine, that it employs Stalinist nocturnal raids to terrorize populations, that killing of children is common.

The World Narrative is closer to the truth. It is easy to compile a long list of dictatorships supported by the US, and anyone who has covered wars knows that atrocities are what militaries do. Amrica supports Saudi Arabia and Israel, both with horrible records on human rights. It would also be easy to show that many countries that accuse the US of misbehavior commit or have committed similar crimes. This doesn't occur to these countries. Peoples see everybody's warts but their own.

The peculiar isolation in which Americans typically live shelters the national narrative. Americans are geographically isolated in that they can go nowhere without passports, which few have; linguistically isolated in that almost none speak a second language; and temporally isolated since few have even a rudimentary grasp of history. Add an odd lack of curiosity, apparenly based on a belief that the superiority of America is such that other places are not worthy of study. The result is a closed system.

This might be of minor interest if it did not affect American policy. But it does. The US operates in a world that doesn't quite exist. Think of a blind man who by error enters the wrong house. He bumps into furniture and can't find the bathroom because things are not where he thinks they are.

Consider the war to take over Afghanistan—which is what it is. The American Narrative, relentlessly moral, says that the US is there to fight Terror, to defeat Al Qaida, to save the Afghan people from repressive domination by the Taliban. The government in Kabul represents the Afghan people and is allied with the US in ridding the country of extremists. The Caspian hydrocarbons have nothing to do with it. The GIs fight to give Afghans a stable democracy, law and order, and equal rights fo women.

This is the sort of moral mission that the Narrative demands. In the real world, one might as well give art lessons to a boar hog.

By contrast, the Afghans predictably see the US as an invading army of brutal infidels—a word we see as faintly amusing but they don't—who bomb and kill, kick in their doors at three a.m, humiliate the men in front of their families and insult their women. A very little of this, a very few dead children, can arouse a whole lot of hatred, but the American Narrative doesn't allow of this truth.

Condequences ensue. Note that in Afghanistan, as in Iraq, as in Pakistan, as in Viet Nam, the national armies supposedly on America's side are never ready. Despite billions of dollars spent in training them, somehow they are always years away from being able to take over. They desert, coöperate with the enemy, sometimes murder GIs. By contrast, the enemy fights tenaciously.

The Americans are baffled and outraged. “We are here to help these people, to protect them against the evil (communists, Al Qaida, Iranians, or whatever). Where is their gratitude? Why don't they do their share?”

When you recruit citizens of a country to kill their own people in the name of a widely hated puppet government, their enthusiasm is likely to be exiguous. But since the American Narrative insists that the US seeks only to end the dominion of Evil, opposition to America becomes inexplicable.

In war after war, those attacked fail to act as the US expects. The Iraqis should have welcomed the American soldiers who were bringing them democracy and defeating an evil dictator. This fits the Narrative. That people don't like being invaded, having their cities devastated, their fathers, husbands, sons, and brothers in the army killed—this does not fit the Narative of unalloyed American virtue. It merely determines events

Thu, 03/08/2012 - 00:39 | 2234748 Reptil
Reptil's picture

Actually... the Iraqi population was not particularly negative towards the american invaders after Bagdad fell. It's when the occupiers didn't lift a finger when all the national treasures were plundered, archeological sites were emptied or blown up that eyebrows were raised (western archeologists were fearing damage, before the war, but no one expected the american methodological and ruthless destruction of some very important clues about our human past), and especially some time thereafter straw man supreme Paul Bremer sent all the Sunnis home, that the problems really began. Of course chaos was, and is a way of ruling any particular inhabited area. Let locals fight it out amongst themselves, and take a backseat approach to the question of upholding local law. It went a little further than expected.
The "they hate us for our freedom" is the most ridiculous lie ever propagated. The USA was always revered as the ultimate country of individual freedom and opportunity for anyone. Unsophisticated, loud, obnoxious, but still.... free.

That changed of course in 1913. Only now is the world catching up to that fact.
I think the american media, and Hollywood in particular is the most effective propaganda machine ever contrived in modern history. Want to conquer a nation? A planet? Destroy or replace it's culture.
They even started to believe the BS themselves. It's just THAT GOOD.

Yeah, let's watch some "Die Hard" now. ;-)

Wed, 03/07/2012 - 20:30 | 2234280 pleseus
pleseus's picture

What if everybody wants physical gold all at once. I get a feeling we are about to enter a mania phase in the gold bull market.

Wed, 03/07/2012 - 20:38 | 2234282 Rattling Bones
Rattling Bones's picture

Do you think they would notice if we tried to pass off those gold wrapped chocolate coins? Those people are supposed to be big on chocolate...maybe they wont mind.

 

 

Wed, 03/07/2012 - 20:33 | 2234283 Rattling Bones
Rattling Bones's picture

 

"You want your gold!!?? Ahh...sure...it's right here, locked safely away in the vault...Hmmmm...that's strange...we usually hide the key underneath the mat in front of the vault door, it seems to be missing... anybody seen the key???  Hmmm...oh well, as soon as we locate the key we'll gladly give you your gold."

 

Wed, 03/07/2012 - 20:48 | 2234325 SgtSchultz
SgtSchultz's picture

"How about a few cargo shipping containers of Federal Reserve Notes in the meantime?  How many do you want?"

Thu, 03/08/2012 - 03:42 | 2235115 goldfish1
goldfish1's picture

Will you take $6 Trillion in fake treasuries?

Wed, 03/07/2012 - 20:33 | 2234284 Sutton
Sutton's picture

Swiss Central Bank Official to NY Fed Representative:Ve Vant to see our Gold

New York Fed Representative:Hahahahahahahahahahahahahahahahahahahaha

Wed, 03/07/2012 - 20:37 | 2234299 FedBunny
FedBunny's picture

I want it. I want it. I want it. I want it. I want it. I want it.

You can't have it!!!

Wed, 03/07/2012 - 20:47 | 2234318 Common_Cents22
Common_Cents22's picture

Now that "We Buy Gold Jewelry" flyer I got from the New York Fed makes sense!

Wed, 03/07/2012 - 23:38 | 2234349 Money 4 Nothing
Money 4 Nothing's picture

Lollzz!! Good one!

You don't see us storing Gold in Ft. Knox do you Switzerland? You should have known better just by that clue.

Wed, 03/07/2012 - 20:47 | 2234320 rehypothecator
rehypothecator's picture

Repatriation, BITCHEZ.  

$180 Billion worth.  That might move the market a bit, if they don't have it and have to buy it.   

Wed, 03/07/2012 - 20:48 | 2234324 rehypothecator
rehypothecator's picture

This might be retaliation for the IRS reporting requirements and the suits against Swiss banks. Blowback's a bitch.  

Wed, 03/07/2012 - 20:48 | 2234322 Bansters-in-my-...
Bansters-in-my- feces's picture

Sorry to break it to you Switzerland,but the USSA has ony paper gold and Deep Storage Gold....

You know,the kind of Deep Storage Gold that still has the host rock wrapped around it,and the mine has not yet mined it.

Nice try though.

Wed, 03/07/2012 - 20:49 | 2234327 uno
uno's picture

http://www.youtube.com/watch?v=7GSXbgfKFWg

gotta love the dumb and dumber iou scene playing out at the NY fed

Wed, 03/07/2012 - 20:52 | 2234333 Cow
Cow's picture

and... it's gone.

http://www.youtube.com/watch?v=RAKsMnAM8vk

 

 

 

Wed, 03/07/2012 - 20:53 | 2234334 Bastiat
Bastiat's picture

Your gold collapsed in its own footprint--that kind of thing happens in NY.

Wed, 03/07/2012 - 21:09 | 2234367 yipcarl
yipcarl's picture

The SHAME of 911 lives on and the sheeple of America go BAH BAH BAH.   Silverstein should die a slow and painful death. 

Wed, 03/07/2012 - 21:01 | 2234340 Cheesy Bastard
Cheesy Bastard's picture

Retaliation.

 Swiss banks will probably settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts, according to two people familiar with the matter.

http://www.bloomberg.com/news/2011-10-24/swiss-banks-said-ready-to-pay-b...

Wed, 03/07/2012 - 20:59 | 2234347 ziggy59
ziggy59's picture

Bob Pissonya, on crap nothing but crap, better get those props out again...

Wed, 03/07/2012 - 21:07 | 2234362 Clint Liquor
Clint Liquor's picture

For a two or more decades Gold has been leaving the West for the East and Middle East. With the help of the mentally challenged (Gordon Brown and Bob Rubin) and the Gold Leasing of Central Banks. It will become rather important when the World's Reserve Currency returns to it's intristic value.

But, as an ex-SF buddy says 'don't worry, we can always kill them and take it back'.

Wed, 03/07/2012 - 21:08 | 2234364 yipcarl
yipcarl's picture

They want their gold back??  LMAO.  It's GONE, the Fed stole it, they are thieves and should be strung up for treason and who are they?  Rothchilds and their bunch.  The Whole nation, the whole WESTERN world are debt whores to this one group.  It's almost unreal.  Now they are pumping up this ponzi scheme stock market after a one day fall.  Is everyone asleep or just powerless?

Wed, 03/07/2012 - 21:10 | 2234368 Seasmoke
Seasmoke's picture

Linda Green certifies that the gold is there

Wed, 03/07/2012 - 21:11 | 2234373 ziggy59
ziggy59's picture

Senate finace committee to burnankey: where is all the gold?
Burnankey: can you define "is"

Wed, 03/07/2012 - 21:15 | 2234376 hack3434
hack3434's picture

Just tell them "Simon" Peter Gruber took it a few year back...duh!

Wed, 03/07/2012 - 21:12 | 2234377 tickhound
tickhound's picture

Damn Swiss barbarians... Nuke 'em!

Wed, 03/07/2012 - 21:15 | 2234384 Out9922
Out9922's picture

F Off, Swiss!  You are dumb enough to store outside of your own borders.  Send them the Tungsten  

Wed, 03/07/2012 - 21:20 | 2234391 Stuart
Stuart's picture

to those swiss bankers... good luck with that suckers.

Wed, 03/07/2012 - 21:23 | 2234397 rsnoble
rsnoble's picture

Does this mean stay away from the 33 Liberty area in case something gets blown up?

Truth be told it's probably in Lord Blankenfein's 66 car garage in walmart totes.  Don't doubt for one minute that things couldn't get that ridiculous I assure you they have/will.

Wed, 03/07/2012 - 21:31 | 2234405 Donnie Duvanie
Donnie Duvanie's picture

Fed: Gold? Your Gold??? How do I know it's yours?? You got your name on it???

Germany/Swiss: But we gave it to you 50 years ago!

Fed: That was 50 years ago!!!

Thu, 03/08/2012 - 02:04 | 2234961 mt paul
mt paul's picture

storage fees

2% per year

Wed, 03/07/2012 - 21:29 | 2234411 Umh
Umh's picture

And I thought I couldn't keep my shoe laces tied! Uncle Sam is unraveling:)

Wed, 03/07/2012 - 21:31 | 2234413 weyes1
weyes1's picture

How much you wanna bet that this initiative never gets off the ground?

There. Problem solved.

Wed, 03/07/2012 - 21:31 | 2234416 dwdollar
dwdollar's picture

Suckers!

Wed, 03/07/2012 - 21:33 | 2234420 mendolover
mendolover's picture

Did anyone see the video of the waiter spilling the beer down Angie baby's back before ObamaTube took it down?

Wed, 03/07/2012 - 21:34 | 2234421 eddiebe
eddiebe's picture

Even if the Swiss people don't get their referendum, one thing is becoming clear. Gold is starting to re surface in the consciousness of people around the world as a store of value. Once inflation really starts to bite, it will claim its rightful place as money. This development is huge. Paperbugs will be crushed under a giant golden steamroller.

Wed, 03/07/2012 - 21:35 | 2234422 Atomizer
Atomizer's picture

Good luck Swizal Bitchez. Have a look..

 

9/11 Tons Of Gold And Silver Buried Under The World Trade Center 

9 11 Aftermath Gold at World Trade Center 10 31 2002 NBC

 

Central Banking game of Grand Theft Auto is alive & well.

Wed, 03/07/2012 - 23:35 | 2234604 robertocarlos
robertocarlos's picture

Thanks for the 9/11 gold link.

Wed, 03/07/2012 - 21:44 | 2234436 Donnie Duvanie
Donnie Duvanie's picture

Where is Silver_Girl? I miss her!

Wed, 03/07/2012 - 22:36 | 2234437 Donnie Duvanie
Donnie Duvanie's picture

News Flash! US Government scientists working for the Fed have discovered proof for the existance of black holes, as 34,000 TONS of GOLD have simply vanished at 33 Liberty Street, apparently sucked into a black hole! The Fed says that it's contract specifically claims no liability for Acts of God, and says that it will not be required to repatriate the Gold! A spokes-person for the Fed says it is asking the Germans and Swiss to be patient - Black holes are known to spew what they've sucked in back out anywhere, and with a little luck, the Germans and Swiss just might get it back!

Wed, 03/07/2012 - 22:38 | 2234533 Fred Hayek
Fred Hayek's picture

Isn't one theory that things that go into a black hole in one location get ejected from a quasar somewhere else in another galaxy? The Fed will give 'em teh coordinates of a quasar halfway across the universe.

Wed, 03/07/2012 - 21:40 | 2234438 Conman
Conman's picture

Someone get John McClain on the case, he'll find the gold. Yippekiyaa

Thu, 03/08/2012 - 09:58 | 2235617 trilliontroll
trilliontroll's picture
(How to get back your gold from the federal reserve) Still DIe Harding at the Federal Reserve

http://www.youtube.com/watch?v=gR7Rieq4iPQ&feature=related

Wed, 03/07/2012 - 21:44 | 2234442 Dr.Engineer
Dr.Engineer's picture

This is absolutely brilliant.  Both Germany and Switzerland.

Do not underestimate the Swiss.  They managed to stay out of WW2 which is no small feat.  They like their banks and they like them open.  Not only that but they got strong-armed to give up their autonomy and name the really intelligent US citizens ---err tax evaders.  This will be really cool to see how they respond to their gold not being there.

Then Germany, after being bamboozled into buying bad mortgage paper, is going to find out they don't have any gold. 

This will be a financial war.  They may collaborate with the Chinese -- the enemy of my enemy is my friend.

I wonder what a digital nuclear bomb looks and feels like when it reaches the US internet.

Wed, 03/07/2012 - 21:51 | 2234450 cosmictrainwreck
cosmictrainwreck's picture

don't know about an internet bomb, per se, but StuxNet code publicly available on the web now

Wed, 03/07/2012 - 23:02 | 2234578 Rogier
Rogier's picture

If you completely wanna sink Apple and the S&P, throw in a virus or two in the iStore...

Wed, 03/07/2012 - 21:54 | 2234454 ZeroPoint
ZeroPoint's picture

Conflagration, bitchez.

Wed, 03/07/2012 - 22:07 | 2234474 israhole
israhole's picture

The world's gold was stored in Jew York City?  I don't need to tell you it was stolen decades ago, do I? It's a Jew World Order, and the 99% are Goyim.

Wed, 03/07/2012 - 22:41 | 2234540 Rogier
Rogier's picture

Spoken like a true Hitler, you Nazi fuck.

Wed, 03/07/2012 - 22:10 | 2234477 Downtoolong
Downtoolong's picture

And why are the international central banks not disclosing what their people demand

It's always what the don't and  won't tell us that hurts the most. A crystal clear view of what they want us to see is not transparency.

Wed, 03/07/2012 - 22:09 | 2234479 Atomizer
Atomizer's picture

 

 

Switzerland, your gold stored at the NYF has been used to leverage the EU debacle. Please phone us to discuss your next margin requirement needed, your holdings are so thinly spread to keep things intact.

 

I don’t want to hear your complaining about using your Gold holding for Federal Reserve collateral. If you begin to bark, we’ll just raise your storage fee. If you really piss us off, we’ll tell you we lost the paperwork. //LOL

 

Wed, 03/07/2012 - 22:12 | 2234486 bugs_
bugs_'s picture

next the Vatican will want theirs back too.

Thu, 03/08/2012 - 00:44 | 2234798 HungrySeagull
HungrySeagull's picture

Naw, all they have to do is scrape a little off the walls and sweep it into the dustbin.

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