Germany repatriates $28bn in gold

bentech · Post by **bentech** » Thu Aug 24, 2017 4:45 pm

Germany repatriates $28bn in gold

The German central bank (Bundesbank) has brought back 674 tons of gold reserves kept in Paris and New York since the Cold War.
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© Lisi Niesner Germany wants its gold back
Some 53,780 gold bars, each weighing 12.5kg and worth €440,000, have been shipped to Germany over the last four years, said the bank. The last 100 tons were moved from Paris earlier this year, which means the Bundesbank now holds no reserves in France.

"This closes out the entire gold storage plan – around three years ahead of the time we were aiming for," said Carl-Ludwig Thiele, a member of the Bundesbank’s Executive Board.

The bank has already repatriated 940 tons of gold from London to save on storage fees.

In 2013 Germany said it planned to transfer at least half of the country’s gold to Frankfurt by 2020. The move was in response to public concerns about having so much of the nation’s wealth kept abroad.

Over 50 percent of Germany's gold reserves are now in Frankfurt. The remainder is stored in London and New York, where it can be quickly exchanged for British pounds or US dollars in an economic emergency.

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© Michael DalderGermany repatriating gold faster than planned as confidence in euro plunges
Germany is the world’s second biggest holder of gold with 3,374 tons. The US Federal Reserve holds the most bullion, its gold reserves amount to 8,134 tons, according to the World Gold Council. The UK holds 310 tons, and the European Central Bank 505 tons.

https://www.rt.com/business/400735-bund ... old-paris/" onclick="window.open(this.href);return false;

Butcher Bob · Post by **Butcher Bob** » Fri Aug 25, 2017 2:49 pm

Not sure what this move means.

If they are set up the same as US, then this statement is false...

In 2013 Germany said it planned to transfer at least half of the country’s gold to Frankfurt by 2020.

The US has zero gold on it's balance sheet. The Federal Reserve's holdings do not belong to our country...they belong to that privately owned bank.

deran · Post by **deran** » Fri Aug 25, 2017 4:46 pm

they wanted a few years back a few kilos from the "goldfinger" bank (fort knox)
they were told they had to wait a few decades until the bank reserve is full again with heavy metal

meaning - fort know is empty as it can be, gold has gone into black funds and to the nwo for different kinds of projects like cooking meth and heroin

yeah - no gold

i could even bet, that this gold is not the gold that is supposed to be and has a totally different background, bc as there is no gold - you have to "invent" gold, thats the hard part - an art - moving nothing into empty and back and getting payed for that ... a handful of clicks with your mouse .. if you got the contacts and the position to do so ... brave new world - here we are - fuck you !

bentech · Post by **bentech** » Fri Aug 25, 2017 5:22 pm

and whenever those private banks say something bob it is reported as " America said it planned..."

Butcher Bob · Post by **Butcher Bob** » Sat Aug 26, 2017 10:55 am

Yes Ben, the "fake news" almost always reports these banks as being governmental institutions.

And as Deran points out...

deran wrote:...there is no gold - you have to "invent" gold...

...almost all of the gold traded in the markets is whats known as 'paper gold'. Investors never take possession of physical gold, what they get are promissory notes whose value is based on the gold index.

But you posted this article, so what is it that you purport that it means?

bentech · Post by **bentech** » Sat Aug 26, 2017 12:42 pm

just curious about the subject as i know several "well studied" on the subject supposedly
have such differing opinions

how do german central banks differ from american central banks?

Butcher Bob · Post by **Butcher Bob** » Sun Aug 27, 2017 8:21 am

Since Germany is the origin of modern day banking, I would expect their system to be set up very similar to our own...but that's just an educated guess.

I would think the reason for their gold being moved out of Germany in the first place would be to act as collateral for war reparations for WWII. My understanding is that those reparations have been paid, so I don't see the move as being significant.

But since the World Bank, through internal communications, was caught endorsing slavery as long as it was profitable, it would not surprise me if there were some nefarious reason for this movement of gold...I just can't envision what that reason would be.

MadMoonMan · Post by **MadMoonMan** » Mon Aug 28, 2017 6:55 pm

Mnuchin’s Fort Knox Quip: ‘I Assume the Gold Is Still There’

Saleha Mohsin and Alister Bull
August 21, 2017, 1:52 PM EDT August 21, 2017, 4:41 PM EDT

Only third Treasury secretary to visit U.S. Bullion Depository
$200 billion worth of gold, though not counted since 1953

The United States Bullion Depository at Ft. Knox, Kentucky. Photographer: Barry Thumma/AP Photo

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U.S. Treasury Secretary Steven Mnuchin paid a rare official visit to Fort Knox to check out the nation’s gold stash on Monday -- while keeping an open mind for future film projects.

“I assume the gold is still there,” the former Hollywood producer quipped to an audience in Louisville, Kentucky, 40 miles (64 km) north of the U.S. Bullion Depository. “It would really be quite a movie if we walked in and there was no gold.” After the visit, he playfully reassured Americans the treasure was still secure.

“Glad gold is safe!” he wrote in a post on Twitter.

Fort Knox has been seared into the public imagination since the 1964 James Bond movie “Goldfinger,” in which the British spy, played by Sean Connery, foiled a plot to contaminate the nation’s bullion.

Mnuchin, whose action-film credits include ‘‘Mad Max: Fury Road,” “The Lego Batman Movie” and “Suicide Squad,” said that he would be only the third secretary of the Treasury to go inside the vault since it was created in 1936 by President Franklin Delano Roosevelt.

“We have approximately $200 billion of gold at Fort Knox,” said Mnuchin. “The last time anybody went in to see the gold, other than the Fort Knox people, was in 1974 when there was a congressional visit. And the last time it was counted was actually in 1953.”

Butcher Bob · Post by **Butcher Bob** » Mon Aug 28, 2017 7:42 pm

U.S. Treasury Secretary Steven Mnuchin...
“We have approximately $200 billion of gold at Fort Knox,”

BULLSHIT!!

The 2014 United States balance sheet...
https://www.fiscal.treasury.gov/fsrepor ... sheets.htm" onclick="window.open(this.href);return false;
...shows $264.9 billion in Cash and other monetary assets.

And when you look at the detail of this line item...
https://www.fiscal.treasury.gov/fsrepor ... _note2.htm" onclick="window.open(this.href);return false;
...it indicates that the US has $11.1 billion in Gold and silver.

And if you are smart enough to scroll down to the notes below, you will see it clearly stated...
Gold totaling $11.0 billion as of September 30, 2014, and 2013, was pledged as collateral for gold certificates issued and authorized to the FRBs by the Secretary of the Treasury.

The US owns NO physical gold...period.

Maybe Mr. Munchkin needs to go back to movies, since he clearly does not live in reality.

Lrus007 · Post by **Lrus007** » Mon Aug 28, 2017 8:02 pm

i think they been selling it for years.
mint gold and silver coins sold to the public.
the mint is not buying any gold or silver on the open market.
so it has to come from somewhere.
then there is this.
http://www.zerohedge.com/news/2017-08-24/mnuchin" onclick="window.open(this.href);return false;’s-pr-visit-fort-knox-proves-nothing-about-us-gold-reserves

yup gold's there move along people nothing to see here....
Lrus007