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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trav7777's picture

i think that dude was german

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.

 

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

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?" 

Real Money Wins's picture

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

Jendrzejczyk's picture

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

hivekiller's picture

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

hivekiller's picture

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

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!

MarcusLCrassus's picture

Or with Iran: WAR WERE DECLARED

Freddie's picture

Hope and Change with the Chicago Mohammed.

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. 

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.

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.

 

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.

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 ;-)

Doña K's picture

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

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 ;-)

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

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.

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...

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...

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.   ;-)

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 ;-)

noses's picture

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

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

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.

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

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."

mt paul's picture

if you steal 600 million they will  find you "

unless 

'you' are 'they'

The trend is your friend's picture

Chavez was way ahead of the curve

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.

Fred Hayek's picture

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

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

 

 

 

Desert Irish's picture

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

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?

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?

Son of Loki's picture

"I have no ideawhere all that gold went."

Bill "the Corzine" Dudley, 2012 H2

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?

francis_sawyer's picture

STORE POLICY:

You broke it, you bought it...

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.

my puppy for prez's picture

Thanks for the great laugh!  Soooooooooooooooo hilarious!

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