There nothing like Gold derivatives.
Link to the pamphlet mentioned above:
http://www.scribd.com/fullscreen/79237637?access_key=key-1sdp3zeh9so95s83so9e
Thanks for posting. A friend told me about this at about 10:30AM this morning...I hadn't heard a thing about it.
Rehypothecated
"Rehypothecation is a practice that occurs principally in the financial markets, where a bank or other broker-dealer reuses the collateral pledged by its clients as collateral for its own borrowing."
Doesn't this mean that they don't have the Geman gold?
Translation: It will take the fed 5 years to electroplate all those tungsten bricks with gold leaf and then 2 more years to actually move it .
So, unless your gold is in your direct physical possession, you don’t actually have any gold.
I wonder what the Germans think about this?
Their gold and ours is long gone.
It’s not there. They’re using the seven years to push the swindle into the next president’s term.
What kind of country keeps their gold in the USA repo? Germany is leaving that club. Not sure they knew it would take so long, maybe they should ask for all of it. Smart countries want to know or actually, they (should) want to own, their gold, on their own soil. After all, the outlaws running USA may have misplaced it or may soon loose it.
“....in the meantime, here, have these scraps of paper.”
Fort Knox U.S. Gold Reserves to be Independently Audited and Assayed? Congressman Ron Paul Pressures
The Dutch Ask Their Central Bank: "Where Is Our Gold?"
It’s simply not there.
It says Bundesbank is planning a phased relocation. It doesn't say the FED can't deliver if it was all requested tomorrow.
Just gold bugs trying to scare up some business.
"To this end, the Bundesbank is planning a phased relocation of 300 tonnes of gold from New York to Frankfurt as well as an additional 374 tonnes from Paris to Frankfurt by 2020.">
I think the key can be found in the New York Times article...
“At a packed news conference, Bundesbank officials attended by armed security guards demonstrated on Wednesday how they tested the bars for quality and authenticity. No two bars have exactly the same weight and purity, so each must be assessed separately.”
Every bar is gonna have to be weighed (VERY carefully) and tested for purity. That’s gonna take a while.
in other wordsm “you can’t have it back!”
If you wamt a job done efficiently, a private contracter is the way to go.
It seems like a lot of trouble to move all that gold.
Why don’t we just cut them a slice off Obama’s trillion dollar Platinum coin.