The Curious Case of German Gold

The Curious Case of German Gold

The often-cited allegation is that there is nowhere near as much gold in the central bank vaults as they claim to have, and Fort Knox is empty. In this view, central banks keep reselling each other the same few bars of gold in a never ending pyramid or Ponzi scheme creating a “money bubble”. It would be the last bubble before everything collapses, and this Bundesbank/Fed behavior is giving credibility to those stories.

Wednesday, January 8, 2014
The Curious Case of the German Gold
Late in 2012, Germany made an unprecedented request of the US Federal Reserve Bank. Germany, like most of the world, had stored as much as 50% of its gold in the US Fed’s vaults as part of the agreements turning the USD into the world’s reserve currency. They wanted the Fed to return their gold, for storage in their country. The idea was that Germany’s gold was held as if in a safe deposit box; like a safe deposit box, the owner has every reason to expect if they want to empty the box, they can.

In a stunning move, the Fed refused, originally refusing Germany the right to inspect their gold, and finally offering to return the gold in installments, eventually completing the transfer by 2020.
The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were “security” and “no room for visitors”. And nothing else.

Germany did finally send some staff to the FED, and they were permitted only into the vault’s anteroom where they were shown 5 or 6 gold bars as representative of their holdings, and were permitted nothing else.
Isn’t that peculiar?

In the early days of 2013, the German Bundesbank announced that it intended to repatriate Germany’s gold reserves. That would mean moving 300 tons of gold from New York to Frankfurt in 8 years, or roughly 37.5 tons per year. In December, the Fed delivered 37 tons of gold to Germany as requested. Here it goes from peculiar to outright weird. I quote some exchanges from Germany as reported on GATA, the Gold Anti-Trust Action Committee’s website. You should read the whole thing:
December 26, 2013

Dear Ladies and Gentlemen:

I am an independent financial journalist.

In connection with the transfer of 37 tons of Bundesbank gold from New York to Germany, I came across the news that the bars were a melted before the transfer. May I kindly ask you for the following information:

Why were the bars melted at all? And why couldn’t that wait until the bars arrived in Frankfurt?

Kind regards,

Lars Schall

….
January 3, 2014

Dear Mr Schall:

Thank you for your enquiry.

At a press conference on the topic of Germany’s gold reserves on 16 January 2013, Executive Board member Carl-Ludwig Thiele presented the Deutsche Bundesbank’s new storage concept. In addition to the relocation of gold bars, this concept includes, amongst other things, measures to ensure that the specifications of the London Good Delivery (LGD) standard are met.

In cases where these specifications were not already met, the Bundesbank had these original gold bars melted down and recast in order to meet this standard. This was achieved without any difficulties.
…..
Statement by Peter Boehringer, president of German Precious Metal Society and co-initiator of the Repatriate our Gold campaign —

The public is still waiting for answers to crucial questions like these:

What kind of gold bars were melted? Original material from the 1950s and ’60s?
How can the Bundesbank hint in its press release that some of the old bars already met the LGD specifications when those specifications were not defined and made a standard for central bank bars until 1979?
Why has the Bundesbank not published a bar number list of the old bars? How can there be security concerns about bars that no longer exist? Why has the Bundesbank not published a bar number list of the newly cast bars?
Who exactly melted the bars? Where exactly was this melting performed? Is there a smelter at the Federal Reserve Bank of New York?
Who witnessed the melting and recasting of the bars?
Are there any reports on this in writing with a valid signature? By whom?
And especially: Why was it deemed necessary to perform this action in the United States as opposed to Frankfurt or nearby Hanau, where there are some of the best facilities in the world for metal probing, melting, and recasting? Had these actions been performed in Germany in a fully transparent manner, it would have been so easy for the Bundesbank to dismiss all questions from “paranoid gold conspiracy theorists.”
…..
There is more at the GATA link, but the whole episode has the air of some sort of deliberate obfuscation going on. Why would the Fed not allow the Germans to even see their gold, and then let them “look but don’t touch” at a few bars? Why doesn’t the Fed give Germany everything now, and not over eight years? Why would the Germans agree to not getting their gold all at once, but rather wait until 2020? Why would the bars be melted down? I looked up the London Good Delivery standards and there’s nothing about it that seems to require refinement, so recasting them seems unnecessary.

The often-cited allegation is that there is nowhere near as much gold in the central bank vaults as they claim to have, and Fort Knox is empty. In this view, central banks keep reselling each other the same few bars of gold in a never ending pyramid or Ponzi scheme creating a “money bubble”. It would be the last bubble before everything collapses, and this Bundesbank/Fed behavior is giving credibility to those stories.

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11 Responses to The Curious Case of German Gold

  1. Cj aka Elderofzyklons Blog says:

    Reblogged this on ElderofZyklon's Blog!.

  2. I never actually saw the movie Die Hard, but I’ve heard it was about terrorists that used a political motive as a cover for stealing bearer bonds.

    A NATION CHALLENGED: THE VAULT; Below Ground Zero, Silver and Gold
    New York Times
    Published: November 1, 2001

    About two weeks ago, a security team spotted scorch marks on a basement doorway below 4 World Trade Center, on the east side of the ruined complex, according to officials.

    Even in a place of mass devastation and death, those scorch marks got fast attention. They had not been noticed by a patrol team a few hours earlier, and behind the damaged — but intact — door were nearly a thousand tons of gold and silver. To security officials, it looked as if someone had tried to break in.

    Asked about what appeared to be an attempted break-in two weeks ago, Ms. Agnew said that she was unaware of it. Later, she called to reiterate that the metals were safe: “It would be factually incorrect to say there had been any attempt to steal the contents of our vault.”

    http://www.nytimes.com/2001/11/01/nyregion/a-nation-challenged-the-vault-below-ground-zero-silver-and-gold.html

    In 1989 President George H. W. Bush began the multi-billion dollar Project Hammer program using an investment strategy to bring about the economic destruction of the Soviet Union including the theft of the Soviet treasury, the destabilization of the ruble, funding a KGB coup against Gorbachev in August 1991 and the seizure of major energy and munitions industries in the Soviet Union. Those resources would subsequently be turned over to international bankers and corporations. On November 1, 2001, the second operative in the Bush regime, President George W. Bush, issued Executive Order 13233 on the basis of “national security” and concealed the records of past presidents, especially his father’s spurious activities during 1990 and 1991. Consequently, those records are no longer accessible to the public. The Russian coup plot was discussed in June 1991 when Yeltsin visited with Bush in conjunction with his visit to the United States. On that same visit, Yeltsin met discreetly with Gerald Corrigan, the chairman of the New York Federal Reserve.

    Three top securities brokers had offices in the World Trade Center, Cantor Fitzgerald, Euro Brokers and Garbon Inter Capital. Flight 11 struck just under the floors where Cantor Fitzgerald was located. Cantor Fitzgerald, with possible connections to the U.S. Intelligence apparatus, was America’s biggest securities broker and apparently the main target. Within minutes, an explosion in the North Tower’s vacant 23rd floor, right under the offices of the FBI and Garbon Inter Capital on the 25th floor caused a huge fire from the 22nd through the 25th floors. At the same time, there was an explosion in the basement of the North Tower. [30] A vault in the North Tower basement held less than $1 billion in gold, much of which was reportedly moved before 9/11. However, the government had hundreds of billions of dollars of securities which were summarily destroyed. The Federal Reserve, untouched by the crisis at its downtown offices (as they had everything backed up to a remote location), assumed emergency powers that afternoon. The $240 billion in securities were electronically cleared. [31] Then, at 9:03, Flight 175 slammed into the 78th floor of the South Tower just below the 84th floor where Euro Brokers were located. [32] Brian Clark, the manager at Euro Brokers, heard numerous explosions, apparently unrelated to what he referred to as the oxygen-starved fire caused by the plane crash.

    By 2008 and even earlier the covert securities were worth trillions. The securities used to decimate the Soviets and end the Cold War were stored in certain broker’s vaults in the World Trade Center where they were destroyed on September 11, 2001. They would have come due for settlement and clearing on September 12, 2001. [34] The federal agency investigating these bonds, the Office of Naval Intelligence was in the section of the Pentagon that was destroyed on September 11. Renovations at the Pentagon were due to be completed on September 16, 2001. However, the Office of Naval Intelligence (ONI), the entity that often monitors war games, was hurriedly moved. If they were monitoring the simultaneous war games that morning, they would have realized that the games were used as a distraction from the actual assault. Whatever hit the pentagon struck the Navy Command Center and the offices of the Chief of Naval Operations Intelligence Plot (CNO-IP). [35] There were 125 fatalities in the Pentagon; thirty-one percent of them were people who worked in the Naval Command Center, the location of the Office of Naval Intelligence. Thirty-nine of the forty people who worked in the Office of Naval Intelligence died.

    By 2008 and even earlier the covert securities were worth trillions. The securities used to decimate the Soviets and end the Cold War were stored in certain broker’s vaults in the World Trade Center where they were destroyed on September 11, 2001. They would have come due for settlement and clearing on September 12, 2001. The federal agency investigating these bonds, the Office of Naval Intelligence was in the section of the Pentagon that was destroyed on September 11. Renovations at the Pentagon were due to be completed on September 16, 2001. However, the Office of Naval Intelligence (ONI), the entity that often monitors war games, was hurriedly moved. If they were monitoring the simultaneous war games that morning, they would have realized that the games were used as a distraction from the actual assault. Whatever hit the pentagon struck the Navy Command Center and the offices of the Chief of Naval Operations Intelligence Plot (CNO-IP). There were 125 fatalities in the Pentagon; thirty-one percent of them were people who worked in the Naval Command Center, the location of the Office of Naval Intelligence. Thirty-nine of the forty people who worked in the Office of Naval Intelligence died.

    http://www.renewamerica.com/columns/spingola/100208

    Even though the 9/11 Truthers had the facts, the physical evidence, and the public record on their side, they were subjected to 6 years of threats, harrassment, and a coordinated media assault that closetly resembeled the Maoist tactic of “struggle sessions.” Bill Mauer, Jon Stewart (Liebowitz) Tucker Carlson, Sean Hannity, and even leftist luminary Noam Chomsky participated in public shaming of 9/11 truthers, using the sort of vitrolic language usually reserved for, well, racists, interesting enough.

    What’s so fascinating about the story is that the facts were pretty much on the public record from day one. It’s just that the public was generally unaware of these facts, because they were published in the elite press (NYT, WSJ, NYM, etc.) with the dots left unconnected. It shows the staggering power of the television that the public was led to believe a fanciful story about a world wide conspiracy of radical Muslims (many of them American Jews dressed in cartoonish imitations of Muslim dress; Adam Pearlmen, Joseph Cohen, etc.) and the suspension of the laws of physics.

    The tactics used were pretty simple; ignore the facts and evidence and attack the character of the opponent. What is also interesting is that the attacks and the cover up appeared at the beginning of the internet age, so there’s actually a decade long online record of the anti-9/11 truthers in action. One illuminating example is ctcole @ youtube. It’s enlightening to also notice how many of these anti-truthers were Zionists.

  3. Here’s another one for you. Why is the world did NATO invade Libya? After 9/11, Quadaffi famously walked out of the first meeting of the Arab League and was considered nearly “progressive” by African standards, when it came to women’s rights and similar issues. Libya had one of the largest independent stashes of monetary gold. When Hugo Chavez demanded repatriation of Venezuela’s sovereign gold, NATO attacked Libya. One of the first things to happen – before Quadaffi’s forces were even defeated – was that a western style central bank was set up in Libya, and presumably, took physical control of the nation’s gold.

    South Africa introduced the Krugerrand in the 1970s, perhaps the first modern circulating gold coin post WWII, around the time that Nixon cut the last link between the dollar and gold. The French were sending battle ships to bring home gold in return for their trade imbalance and Nixon had to do something before the US ran out of physical gold. Not long after SA introduced the Krugerrand, they started getting world wide condemnation for their apartheid policies.

    • A.Ralston says:

      We should mention too that Quadaffi was spearheading a movement to establish a gold-backed pan-African dinar, a currency that would likely have dminished the global reserve status of the USD, the Euro, BP and other crap currencies of the Rothschild cabal, somewhat as Rudolph Hess’ mutually beneficial, highly successful, negotiated swaps of high-quality German-engineered products for South American raw materials enabled Germany in the 1930s to circumvent central banking matrix and to propser when the rest of the western world was mired in the Great Depression.

      Also noteworthy was the establishment, at about the same time as the central bank, of an oil bourse (mostly neglected by the MSM), mere days after the start of the NATO-backed insurrection.

    • Hey HR, when you’re going to update Your blog?

  4. Denise says:

    I hate Talmudic Kikes, and their Race Traitor Goy minions.

  5. Anon says:

    One thing to note about gold is the gold/silver ratio: about 1 to 16. The gold miners also produce silver, and silver is present in the earth’s crust at about a ratio of 16x that of gold. The upshot of all of this is that the price of these two should track each other by the same ratio, and they aren’t. Either silver is currently horrendously undervalued, or someone is squatting on enough supply of gold to crash the price(and by implication, if they truly valued the gold where it is, why aren’t they squatting on silver as well?). Something to be aware of.

  6. TabuLa Raza says:

    Yeah, it’z Minyans and minions.

  7. MOISHE says:

    those stupid jew-worshipping germans have been JEWED!!!!! HA HA HA HAH – sucked in for kissing kosher arse! – Germany owes the jews nothing – the jews owe us big-time- its time for those parasites to pay the goyim!!!!

  8. Razvan says:

    The Romanian Gold Connection
    A huge jewish scam is going on in Romania.
    http://en.wikipedia.org/wiki/Ro%C8%99ia_Montan%C4%83_Project
    A bar mitzvahs looks decent by comparison. Practically John Paulson (http://en.wikipedia.org/wiki/John_Paulson), Benny Steinmetz (http://en.wikipedia.org/wiki/Beny_Steinmetz) and Thomas Kaplan (http://en.wikipedia.org/wiki/Thomas_Kaplan) are trying to get the control of the Romanian gold from Rosia Montana – practically the biggest European gold reserve. Older estimates (1970) speak about 1000 metric tones of pure gold but it might be much more.

    In this fight are also involved George Soros and James Wolfensohn http://en.wikipedia.org/wiki/James_Wolfensohn. The treasure is huge, so currently there are some struggle among them. Probably the first group went uppity and offended some jewish nobility (Khodorkovsky style – http://en.wikipedia.org/wiki/Mikhail_Khodorkovsky – “Impact of arrest” – his shares in Yukos went to Jacob Rothschild few hours before his arrest). John Paulson fell in disgrace for something.

    This project will also mean the destruction of four mountains, of thousands of years old mine galleries (since the Dacian and Roman times), and the creation of the biggest lake of cyanides in the world.

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