*Update: A couple of people have made a stink about this post claiming that it is misleading because the prior agreed upon repatriation schedule has not actually changed. That said, anyone who reads the Bloomberg piece will quickly conclude that the article clearly implies something had changed, which is why I made this assumption. In fact, the source article was so misleading that Peter Boehringer, co-founder of “Repatriate Our Gold,” posted the following in the comment section:
What Mr. Boehringer makes clear, is that there is nothing “new” in the Bloomberg article. That of course is not to say that the repatriation schedule as it stands is not preposterous. It is, and he agrees with that wholeheartedly. So the reason for this update is clarify this one key misunderstanding. That doesn’t change many of the key points of the post. Those are:
1) The interesting observation that German officials and politicians continue to put so much faith in the Federal Reserve just as “End the Fed” protests spread through the nation.
2) The ridiculous notion that it is in any nation’s interest to liquidate gold for Central Banker created fiat, which can be conjured into existence in infinite amounts, at zero costs in no time.
3) That the politics on the ground of the ruling party seem to be shifting against repatriating the gold (that is clearly Bloomberg News’ take).
Just last week, I published a post titled, Video of the Day – “End the Fed” Rallies are Exploding Throughout Germany, which subsequently went viral. Interestingly, only a few days later we find out that Germany’s very own criminal political class has decided it will continue to store the nation’s gold in New York rather than bring it back home as had been the intention. It’s quite ironic that just as protests against the fascist Federal Reserve are spreading throughout the land, the political class officially decides to keep Germany’s treasure across the Atlantic, in care of none other than The Fed itself.
To be fair, this merely seems like a way for Angela Merkel and the rest of her German cronies to save face. After all, it was very clear that the Federal Reserve had already told them “no” when they asked for the gold back in the first place. Why else would it take almost a decade to transport the gold from the U.S. to Germany, which was the latest repatriation schedule. We learn from Bloomberg that:
Surging mistrust of the euro during Europe’s debt crisis fed a campaign to bring Germany’s entire $141 billion gold reserve home from New York and London. Now, after politics shifted in Chancellor Angela Merkel’s coalition, the government has concluded that stashing half its bullion abroad is prudent after all.
“The Americans are taking good care of our gold,” Norbert Barthle, the budget spokesman for Merkel’s Christian Democratic bloc in parliament, said in an interview. “Objectively, there’s absolutely no reason for mistrust.”
The Bundesbank, Germany’s central bank, sent a delegation to the New York Fed’s vault in 2012 for spot checks on the hoard. As the gold’s guardian, the Frankfurt-based Bundesbank is obliged to ensure its safety. It says it’s sensible to store part of the reserves outside the country so they can be swapped more easily for foreign currency in an emergency.
This last sentence is absolutely incredible in its Orwellian irrationality. Swap gold easily for foreign currency? Foreign currency can be conjured up in infinite amounts at will by crooked bankers in suits with phony smiles and calming words filled with complex economic jargon. So Germany needs to be able to swap its gold for that? Well, it seems many nations are falling for this simple, yet effective scam, as I outlined in my post: Ecuador to Transfer More Than Half its Gold Reserves to Goldman Sachs in Exchange for “Liquidity.”
German gold reserves, the second-biggest in the world after those of the U.S., totaled 3,386.4 tons on March 31, according to World Gold Council data. Due to German postwar history, the biggest part is stored at the Federal Reserve Bank of New York; the rest is in London, Paris and Frankfurt.
“Right now, our campaign is on hold,” Peter Boehringer, a Munich-based euro critics who co-founded an initiative to bring home all of Germany’s gold in 2012, said in an interview.
Full article here.
Michael Krieger
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Yeah, never trust a guy who looks like he’s never been exposed to sunlight. Same with Canadian P.M. Stephen Harper – another guy I would’t trust with the hole in my doughnut.
if you trust a guy with the hole in your donut, you know what he’s going to do to it…..which begs the question. who would you trust with the hole in your donut?
perhaps you could have picked a better metaphor. you backed up right onto that one.
the uSA gave China Germanys gold- as interest on 2.3 trillion in debt- Fort Knox is empty…..
The German people know now that Angela Merkle is just a low level globalists puppet.
… and Angela can’t even see her own NSA file.
…Merkle is a useful puppet, as long as she stays in line or until she’s not useful anymore.
Who, exactly, gets to see the US taxpayer funded NSA files if even Merkel can’t?
Hey Angela, here’s who sees your files:
Check out the last 30 seconds of 2, then watch the whole thing:
Obama and Rockefeller 1
http://youtu.be/K6C24GpgQTQ
Obama and Rockefeller 2
http://youtu.be/M8vFSqYXJ8U
–
And look who got to sleep in the Clinton White House:
Listen to the last 3 minutes and ask why NOT A WORD FROM THE UN? (sarcasm):
youtube: The Rothschilds Exposed 3/3
http://youtu.be/47WM2BhklmM
youtube: Slave Queen
http://youtu.be/vrsfll_QLUw
by TruthNeverTold
Copied from Bloomberg buswk.co/1jJ6eLY Comments:
PY • 10 minutes ago
Perhaps this has something to do with it. http://www.youtube.com/watch?v…
Nobody has seen that gold in a long, long, long time. Of course this (disappearing gold) makes it much harder to restart a precious metals backed currency in the future, which is necessary for the working class to hold onto the fruits of their labors. Savings is the ONLY way to build wealth across societies. Central banking and fiat currency ALWAYS transfer everyone’s labor/wealth to the ruling class.
10 nations that control the world’s gold – MarketWatch
Oct 20, 2012 … The International Monetary Fund is the third-largest official holder of gold, with more than 2,814 tonnes.
…must have much more by now.
Where is the IMF getting all that gold? (ask NATO? Lybia? Egypt? Ukraine? …Germany?)
The IMF is ANOTHER UN agency, it is not a ‘nation’, it has been deemed ‘supranational sovereignty’ (deemed by the UN’s ‘International Court of Justice’ -yep, another UN agency). so the UN creates an agency to deem itself and it’s other agencies supranational sovereignty over the world and makes it’s own laws, decides it needn’t pay any tax nor provide any revenues -sweet deal if your a UN employee.
Looks like the NSA files and the gold are only for certain elites.
NSA has all the IRS emails, phone calls and texts, time to demand the data from US taxpayer funded NSA.
NSA has the communications prior to Sandy Hook that more and more evidence seems to proving it to be a hoax
classified
NSA has communications prior to Boston Bombing
classified
NSA SAYS IT HAS COMMUNICATIONS PRIOR TO AND RELATED TO PRINCESS DIANA’S MURDER BUT IT IS ALL ‘CLASSIFIED’
US citizens (working and paying taxes) fund 22% of the entire UN world budget & our ‘federal’ regulatory is also back door funding the UN (with your taxes, especially the EPA). We have been funding the United Nations University Institute for Sustainability and Peace (UNU-ISP) since 1972. How’s that sustainability & peace working out? How many of their ‘professors’ & administrators are now comfortably retired on obscenely fat tax funded pensions? The UN includes the ‘World Tourist Agency’, and it is tax funded.
When our own US citizens were furloughed, why wasn’t the massive 22%++ of US tax funding of the UN and it’s countless agencies, organizations and commissions withheld or even mentioned by MSM?
The IMF collected all that gold from member nations, which had to pay 25% of their quota (i.e. common stock purchases in the IMF as a condition of membership) in gold prior to 1973. Thenceforth, the gold remained on deposit, but all future quota increases and quotas of new members would be paid in currency, rather than gold, with at least 25% of the quota paid in the IMF’s own currency, Special Drawing Rights, or else in one of the major reserve currencies: US Dollars, British Pounds, Japanese Yen, French Franks or German Marks, with the last two having been replaced by the Euro in 2001. Member nations can buy back this deposit of SDRs or reserve currencies (called the Reserve Tranche Position) later by depositing more of their own currency with the IMF, but the IMF pays interest on a nation’s Reserve Tranche Position, excluding the amount that was deposited as gold prior to 1973.
If there is really a plan for a nuke false flag in NY, then you can rest assured the gold is gone – as it sucks up radiation like a sponge – in fact, didn’t some Kraut take it all in Die with a Hard On Too or something? LOL. If God owns all the Gold, then whoever owns all the Gold is God – its a new twist on the golden rule, who has the gold, makes the rules, except this time its who makes the rules has got the gold…
Depends on what you mean by, “sucks up radiation like a sponge.” Yes, a wall of solid gold is only slightly less effective at protecting you from gamma radiation than a wall of solid lead (shielding power is related to atomic number, which is 79 for gold and 82 for lead). If you mean that it would render fallout non-radioactive, there is not a substance in the known Universe that has that property. If you mean that it would absorb neutrons, yes it does readily absorb neutrons, but doing so makes it radioactive and causes it to decay into mercury.
quit posting on zerohedge….your wacko conspiracy shit articles are a waste everyone’s time..
Hahahaha, thank you so much for giving me the biggest laugh of my day.
Best,
Michael Krieger
LOL!
The New Money System
http://www.franzhoermann.com/das-ende-des-geldes/the-new-system/index.html
There are no “End the Fed” protests whatsoever.
The public is only interested in soccer.
Actually, Germand don’t care. At all.
As far as why a country would feel the need to exchange gold for foreign currency, remember that gold is not legal tender. Exporters (I am speaking of private companies) want to be paid in their own currency or in a major reserve currency, rather than gold. When your balance of payments is roughly even, this can be done by simply exchanging your currency with someone who needs it to pay for your country’s exports, to a foreigner who wants to invest in your country, or to a citizen who wants to repatriate foreign income or assets, but if you run a balance of payments deficit larger than what you have cash reserves to cover, that gold needs to be liquidated to a form that your trading partners will accept.