Posted on 11/29/2014 11:42:43 AM PST by 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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(Excerpt) Read more at zerohedge.com ...
Harvey Organ says no.
Dp the Germans know about this? They asked for their’s back before the stinkin’ flatlanders. If Merkel find’s out the dykefingerers cut in line - Ooooo! There’s gonna be trouble.
Is it time to rename Ft. Knox to Ft. Tungsten?
AAAAAAAAAAAAAAh a hockey stick.
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.
...
Great. If somebody wants to send me a million dollars in US paper money, I’ll gladly trade it for ten dollars in gold. Ten dollars is better than nothing. I’ll pay for shipping, too.
Who would not trust the US federal government under Obama???
Probably has more to do with the potential collapse of the Euro than anything related to the U.S. Fed.
AYE
European Nations Repatriate Gold Reserves From United States Vaults
Thanks for the ping.
How times have changed.
>>It’s 1968 again.<<
Ok...you’ve peaked my curiosity. What happened in 1968 in regards to gold run?
One thing I know for sure, there is a whole lotta focus on gold these dayz.
China, India, Russia purchasing lotsa gold. Germany, France, Netherlands pulling gold stores from the U.S..
Wuzz up y'all? Are countries reading the tea leaves in regards to the world economy? Can't get a solid read because the data coming out of our gubbamint is so freakin skewed and massaged.
Any thoughts?
If you're old enough, you may remember public service announcements on radio and TV in 1965 to "See America first!" This was to prevent dollars from going abroad and causing gold to leak out of New York into Europe.
The London Gold Pool was created to keep the price of gold at the level fixed by Breton Woods in order to prevent that arbitrage.
In 1968, Charles De Gaulle demanded the repatriation of France's gold from New York to Paris and London. He sent the French Navy to New York to collect the gold. We were told that this was a fraternal visit from an ally's navy, but the real reason was deadly serious. Armored cars went from the New York Fed to the docks to place France's gold on the ships.
This started a run on the gold bank. By 1971, Nixon faced the decision of closing the "gold window" to foreign payments to prevent American gold from flying out of New York and Fort Knox. He created the world of floating currencies as a replacement for gold convertibility.
Duh???
I read your comment, but just failed to understand you were trying to get across.
Not being snarky toward you. What does this have to do with all the gold happenings today?
I’ve always suspected China preparing for war with the United States and one of the first salvos would be economic. In other words, make a move to strip American petro dollar dominance and or cause our economy to stall or collapse.
What are your thoughts?
You’d think all the repatriation would be associated with an upward spike in the price of gold, but the market’s behaving as if the supply just increased substantially, as it’s declining across the board in every currency I checked. The decline is more pronounced in dollars since the dollar is strong and getting stronger relative to other currencies. But, it’s still there in every one I checked, around a 1% drop vs. a 2% drop when dollar denominated.
Right? Seems to be behaving opposite of what conditions would dictate. Wonder if there is allot of geo-political manipulation because of the Ukrainian mess, Iranian nuke aspirations and or China’s muscle flexing round the globe.
None of those would cause people to sell off gold stores, they’d hold or increase as instability tends to lead to gold purchase. It’s a store of value in times of turmoil, a safe haven of sorts. Gold falling is a sell-off or increased supply. Sell-off could be due to financial distress even if it was a bad strategic move at the time. At times obligations just have to be met, regardless of whether or not selling a given asset makes good sense, cash has to be generated.
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