sunonmars Posted January 16, 2013 Share Posted January 16, 2013 http://www.telegraph.co.uk/finance/personalfinance/investing/gold/9804444/Bundesbank-to-pull-gold-from-New-York-and-Paris-in-watershed-moment.html Interesting, this could heaps loads of crap onto the markets....do they not trust Obama and Bernanke. Bundesbank to pull gold from New York and Paris in watershed moment Germany’s Bundesbank is to repatriate gold reserves held abroad to tighten control and combat currency crises in the future, pulling a chunk of its holdings from New York and all its bullion from Paris. The move marks an extraodinary breakdown in trust between leading central banks and has set off ferment among gold enthusiasts, with some comparing it with France’s withdrawal of gold from the US under President Charles de Gaulle as the Bretton Woods currency system crumbled in the late 1960s. Handelsblatt said the Bundesbank will announce on Wednesday that it intends to relocate the gold to vaults in Frankfurt, said by insiders to include parts of the old archive library. Germany has 3,396 tons of gold worth roughly £115bn, the world’s second-largest holding after the US. Most of the reserves were stored abroad for safety during the Cold War. The bank holds an estimated 45pc of its gold at the US Federal Reserve in New York, and 11pc at the Banque de France, lower than originally thought. A report by Germany’s budget watchdog in October revealed that the bank halved its holding in London a decade ago, a period when the Bank of England was selling part of Britain’s gold at the bottom of the market to buy euros. Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted January 16, 2013 Share Posted January 16, 2013 I love the sound of bluff being called in the morning. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted January 16, 2013 Share Posted January 16, 2013 Looks like the endgame is near and the players are trying to make sure they have their physical assets within arm's reach. Good luck on that one, Krauts Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted January 16, 2013 Share Posted January 16, 2013 Will they get gold or gold and tungsten? Quote Link to comment Share on other sites More sharing options...
sunonmars Posted January 16, 2013 Author Share Posted January 16, 2013 Looks like the endgame is near and the players are trying to make sure they have their physical assets within arm's reach. Good luck on that one, Krauts The markets are gonna be fun today after hearing this. Quote Link to comment Share on other sites More sharing options...
Monkey Posted January 16, 2013 Share Posted January 16, 2013 in R2 they said they was goign to take from UK gold holdings too. so is there a table showing hoe much gold countries own, how much they have in their country and where it is? also a good show would be the deficit of total world gold and what people think they own. TS will HTF big time of big countries cant get their gold. Quote Link to comment Share on other sites More sharing options...
sunonmars Posted January 16, 2013 Author Share Posted January 16, 2013 in R2 they said they was goign to take from UK gold holdings too. so is there a table showing hoe much gold countries own, how much they have in their country and where it is? also a good show would be the deficit of total world gold and what people think they own. TS will HTF big time of big countries cant get their gold. suspect this is the first step for Germany to get out of the Euro. Pull out all your gold as possible from elsewhere. Then a new German mark backed by gold. Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted January 16, 2013 Share Posted January 16, 2013 Based on the last 6 years of watching these 'monumentous' events unfold (the midnight TARP vote, Lehmans collapse, Northern Rock bank run, Deepwater Horizon, Fiscal Cliff, Syngenta Square etc), I can safely say that this event will pass with barely a whimper. Quote Link to comment Share on other sites More sharing options...
The Eagle Posted January 16, 2013 Share Posted January 16, 2013 The return to gold backed currencies is imminent. Quote Link to comment Share on other sites More sharing options...
sunonmars Posted January 16, 2013 Author Share Posted January 16, 2013 The return to gold backed currencies is imminent. looking that way unless the germans dont get it back, don't forget they asked the Fed to audit this gold some months ago, not sure they liked the answers from the Fed. Quote Link to comment Share on other sites More sharing options...
The Eagle Posted January 16, 2013 Share Posted January 16, 2013 looking that way unless the germans dont get it back, don't forget they asked the Fed to audit this gold some months ago, not sure they liked the answers from the Fed. Remind me, how much gold does the UK have left? The Pound will be worthless in a world of gold backed currencies... Quote Link to comment Share on other sites More sharing options...
EUBanana Posted January 16, 2013 Share Posted January 16, 2013 Yeah. Thanks, Brownfinger. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted January 16, 2013 Share Posted January 16, 2013 Remind me, how much gold does the UK have left? The Pound will be worthless in a world of gold backed currencies... No problem - we can just print more pounds to make up for the drop in value. That's the genius of fiat currency! Quote Link to comment Share on other sites More sharing options...
The Eagle Posted January 16, 2013 Share Posted January 16, 2013 No problem - we can just print more pounds to make up for the drop in value. That's the genius of fiat currency! Surely you meant to say 'print' tungsten gold bars, fiat currencies will have no value when all other currencies will be gold backed! Quote Link to comment Share on other sites More sharing options...
Gigantic Purple Slug Posted January 16, 2013 Share Posted January 16, 2013 Wasn't there some sort of similar hoo-hah when Venuzuela asked for its gold back a short time ago ? Which ended up causing exactly no problems whatsoever ? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 16, 2013 Share Posted January 16, 2013 The issue of storing gold abroad is that its dead easy for a CB to purchase the local currency and use the local store of gold as collateral. I dont think the announcement wwas to bring all the Gold Back....but however much it is going to be, will make collateral harder to collect for the US in the event of Euro and other defaults. Trust is the key to banking. It comes to something when that trust breaks down between banks....and they know the extent of the bluff... Quote Link to comment Share on other sites More sharing options...
Stainless Sam Posted January 16, 2013 Share Posted January 16, 2013 (edited) Look on the bright side. It confirms there is no longer a risk of Soviet tanks rolling westward. However, the story in the Telegraph is that they are pulling some from New York and ALL from Paris. Maybe they need to keep some in the US in case they want to buy dollars, but the withdrawal from France tells me the most. I'm not sure what, but it tells me the most. Edited January 16, 2013 by Stainless Sam Quote Link to comment Share on other sites More sharing options...
doomed Posted January 16, 2013 Share Posted January 16, 2013 They know there is no way out other than complete currency collapse. The problem with exponential systems is that it goes from no problem to complete breakdown in the blink of an eye. Not long now folks. Quote Link to comment Share on other sites More sharing options...
yellerkat Posted January 16, 2013 Share Posted January 16, 2013 Buba statement: 31 December 2012 31 December 2020 Frankfurt am Main 31 % 50 % New York 45 % 37 % London 13 % 13 % Paris 11 % 0 % {Stupid table} ... The withdrawal of the reserves from the storage location in Paris reflects the change in the framework conditions since the introduction of the euro. Given that France, like Germany, also has the euro as its national currency, the Bundesbank is no longer dependent on Paris as a financial centre in which to exchange gold for an international reserve currency should the need arise. As capacity has now become available in the Bundesbank’s own vaults in Germany, the gold stocks can now be relocated from Paris to Frankfurt. Quote Link to comment Share on other sites More sharing options...
Injin Posted January 16, 2013 Share Posted January 16, 2013 The return to gold backed currencies is imminent. Doubtful that the nations with less gold will be using it, neh? Quote Link to comment Share on other sites More sharing options...
eztiger Posted January 16, 2013 Share Posted January 16, 2013 All this talk of repatriation due to Germany being 'at peace' is all smoke and mirrors in my opinion. The Germans are not stupid and are repatriating their gold to hedge against fiat currency collapse aswell as making sure they havent had their gold 'accidentally' leased out without their knowledge and replaced with Tungsten filled goodness. With the Basel 3 reclassification of gold and central banks all over the world reversing the previous trend and becoming net buyers of gold I feel that Germany are taking notice and acting appropriately. In the event of a Euro collapse a re introduced Mark backed partially by gold and a strong manufacturing/export sector would fare very well for Germany, the Weimar republic is still very fresh in the average German citizens psyche. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted January 16, 2013 Share Posted January 16, 2013 In possibly related news, I heard on the Keiser Report the other day that JP Morgan have been given the go ahead to launch a physical copper exchange. Found some info here: http://www.tnr.com/blog/plank/111490/jp-morgan-gets-big-holiday-gift-the-sec# Seems to me that the insiders are all making a move to get control of physical assets ... at a time when government bonds are at all time highs. More than a reasonable chance of the bond bubble bursting and all sorts of hell being unleashed on currencies in the near term, IMO. Quote Link to comment Share on other sites More sharing options...
Ah-so Posted January 16, 2013 Share Posted January 16, 2013 Well if Germany is moving its own gold from Washington and Paris to Berlin, then obviously the who world is doomed and going to hell in a handbasket. Stands to reason, innit. Quote Link to comment Share on other sites More sharing options...
shindigger Posted January 16, 2013 Share Posted January 16, 2013 in R2 they said they was goign to take from UK gold holdings too. so is there a table showing hoe much gold countries own, how much they have in their country and where it is? also a good show would be the deficit of total world gold and what people think they own. TS will HTF big time of big countries cant get their gold. Tungstenrodtastic. I bet the Germans will be slicing every bar open. Quote Link to comment Share on other sites More sharing options...
RichB Posted January 16, 2013 Share Posted January 16, 2013 Look on the bright side. It confirms there is no longer a risk of Soviet tanks rolling westward. However, the story in the Telegraph is that they are pulling some from New York and ALL from Paris. Maybe they need to keep some in the US in case they want to buy dollars, but the withdrawal from France tells me the most. I'm not sure what, but it tells me the most. Well, at least it tells you one of 2 things... Either: 1. The Germans have no current military designs on Paris, and just want their gold back before the US invades France or 2. The Germans have military designs on Paris, know the French don't hold the gold they are asking for and will use it as a reason to 'liberate' their holdings once the french refuse. Quote Link to comment Share on other sites More sharing options...
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