Federal Reserve Confirms Biggest Foreign Gold Withdrawal In Over Ten Years

Zero Hedge ^ | 11-29-2014 | Tyler Durden

[blam]

Tyler Durden
11/29/2014

A week ago, when we reported that in a stunning move, the "Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed", and when looking at the NY Fed's monthly reports of gold deposits by foreign entities, we observed that "we can see that while the 5 tons outflow in 2013 was most likely Germany, the recent surge in gold repatriation from Liberty 33 was the Netherlands. That said, only 77.5 tons of NY deposits gold has been officially repatriated through September, which means the October update, when it comes out, will be a doozy."

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[blam]

[Lurker]

But gold is a “barbarous relic”.

[Publius]

We’re in the early stages of a run on the gold bullion banks. It’s 1968 again.

[driftdiver]

Bait for the Russians?

[SVTCobra03]

I am surprised that there was any gold left in the vault.

[djf]

Funny... Mr. Greenjeans is changing his tune...

http://investmentwatchblog.com/alan-greenspan-central-banker-extraordinaire-believes-gold-is-money-and-not-only-that-but-that-no-fiat-currency-including-the-dollar-can-match-it/

[Bobalu]

If I had a pound of copper at the The New York Fed I’d be worried...let alone a ton of gold.

[Don Corleone]

Follow the money!!!!!!

[ArtDodger]

It probably won’t be long before the government pulls an old FDR trick of outlawing private individuals from owning more than one gold ounce....This law, in tandem with calling in all money bills for exchange with different ones, basically tells them how much worth each of us possesses and prevents hoarding of dollars or gold. Socialism, here we come!

[Forward the Light Brigade]

Do they know something?

[KoRn]

That’s the truth.

Precious metals and commodities are REAL ‘money’ and value for exchange. You wipe your ass with paper. Simple as that....

Paper is a ‘Faith Based’ “Currency”. It isn’t of real intrinsic value.

[Jet Jaguar]

Goldbug ping.

[ckilmer]

too bad gold prices are sliding

[CdMGuy]

Just maybe the Dutch are viewing NYC as a highly probable target for a nuclear terrorist attack. Then again, perhaps they fear that Obama will confiscate all foreign owned gold in the US by way of executive order. It is interesting and somewhat surprising that any Western power would not store their gold in their own country.

[PapaBear3625]

It is interesting and somewhat surprising that any Western power would not store their gold in their own country.

In WW2, when the Nazis invaded, they took all the gold they could find. During the Cold War years, the European powers figured the Soviets would do likewise if they invaded Europe, so they kept the gold in the US.

[RedMDer]

OMG!
That chart looks like a gun! AAAHHHHHH!

[RedMDer]

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[SaraJohnson]

Do we have the gold to return to these nations? I doubt it.

[blueunicorn6]

It’s a good thing that Hillary and Obama got all that gold from Libya for our country. Did they put it in Fort Knox?