During the cold war, West Germany followed a policy of storing its gold as far west as possible in case of a Soviet invasion. Gold remains the one currency that is accepted everywhere. In the event of a currency crisis, the gold could be quickly deployed in financial markets to help restore confidence. Over the past several years, the German people, for a variety of justified reasons, have expressed a pressing desire to have their central bank perform a test, validation or any other assay, of the German gold inventory, which at 3,395 tonnes is the second highest in the world, second only to the US. That is, if the US has any at all. The New York Fed stores the German gold without cost on the theory that the presence of foreign gold supports the dollar’s status as the global reserve currency The problem is, the US won’t (or can’t) give Germany it’s gold back! The Bundesbank announcement follows a public outcry last year after a clash in Parliament about whether all the bank’s gold was properly accounted for. For the great many Germans who still curse the day they had to trade their marks for euros, there has been at least one consolation. If the common currency did not work out, Germany still had huge reserves of the hardest currency of all: gold. In 2012, Germany had requested that 674 tonnes of its gold be repatriated and was told by the U.S. that it would take eight years to achieve. The New York Fed and the French Central Bank managed to transfer a paltry 37 tons, with only 5 coming from the US. This amount represents just 5% of the stated target, and was well below the 84 tons that the Bundesbank would need to receive each year to collect the 674 tons over the 8 year interval between 2013 and 2020. The release of these numbers promptly angered Germans, and led to the rise of numerous allegations that the reason why the transfer was taking so long is that the gold simply was not in the possession of the offshore custodians, having been leased, or worse, sold without any formal or informal announcement. When Germany heard it would take 8 years to get their very own gold back, they got extremely concerned and requested to look at their gold in the U.S. vault. Their request was refused. This occurred in 2013. Only a tiny 5 tonnes of gold out of 674 owed were sent from the NY Fed between 2012 and now. The first shipment of gold to Germany was not even their gold as they had given the U.S. to safeguard after WWII. Instead, they received strangely melted down bars, that were obviously not theirs. Where’s The Gold? Germany was rightly displeased, to say the least. They probably thought they would never get all their gold back, and that may very well be the case. The difficulty in repatriating this gold was not in transporting that much gold, but points to the suspicion that the central banks could not deliver gold because it was leased out to the market. It is very possible that all the signatories of the Central Bank Gold Agreements are in the same position as Germany with all their gold currently leased into the gold market. If this was not so, why could the central banks holding Germany’s gold, not deliver the tonnage of gold asked for by Germany immediately? If only a portion of that gold had been leased the balance not leased could have been delivered. Some might argue that the gold needed to be re-refined. If that were the case, then re-refining this gold would have produced far more than five tonnes in the last year. On June 23, 2014, a Bloomberg article came out with an article indicating that Germany gave up on their request for their gold: “Norbert Barthle, the budget spokesman for Merkel’s Christian Democratic bloc in parliament, said in an interview in June 2014,“Germany has decided its gold is safe in American hands. The Americans are taking good care of our gold.” ‘ WHAT? It’s a diabolically unbelievable statement considering what transpired between Germany and the U.S. over the last 2 years. But, wait! Hours after the Bloomberg story broke, the gentleman at the center of the story, whom Bloomberg quoted as saying his ‘Repatriate Our Gold’ campaign was “on hold”-Peter Boehringer, came out swinging… “The Bloomberg story is a non-news article with a wrong headline.” So, apparently Germany still wants it’s gold back. What is not being reported in the U.S. is the massive “End the Fed” rallies by the German people, as they believe it is the core cancer that is infecting the entire world. See the video of the protests here. I know some Americans have protested in the streets to “Audit the Fed” to no avail. But the German movement has recently gone viral. Something really smells here. There are a few possibilities, which include: The Federal Reserve does not have the gold to repatriate to Germany. The US has threatened Germany into quiet submission. The US told Germany that the gold is gone, and if they press the issue, the whole word economy collapses, including theirs. The Federal Reserve is playing some dirty tricks trying to deceive the world in an attempt to maintain the US dollar as the reserve currency. 1 and 4 All of the above Keep reading... redflagnews/headlines/why-the-us-wont-give-germany-their-gold-back AMERICANS ARE THIEVES AND HYPOCRITES!!!!!!!!!!!!
Posted on: Sat, 16 Aug 2014 01:56:29 +0000
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