Skip to comments.Bundesbank to pull gold from New York and Paris in watershed moment
Posted on 01/15/2013 9:23:43 PM PST by JerseyanExile
Germanys Bundesbank is to repatriate gold reserves held abroad to tighten control and combat currency crises in the future, pulling a chunk of its holdings from New York and all its bullion from Paris.
The move marks an extraodinary breakdown in trust between leading central banks and has set off ferment among gold enthusiasts, with some comparing it with Frances withdrawal of gold from the US under President Charles de Gaulle as the Bretton Woods currency system crumbled in the early 1970s.
Handelsblatt said the Bundesbank will announce on Wednesday that it intends to relocate the gold to vaults in Frankfurt, said by insiders to include parts of the old archive library. Germany has 3,396 tons of gold worth roughly £115bn, the worlds second-largest holding after the US. Most of the reserves were stored abroad for safety during the Cold War.
The bank holds an estimated 45pc of its gold at the US Federal Reserve in New York, and 11pc at the Banque de France, lower than originally thought.
A report by Germanys budget watchdog in October revealed that the bank halved its holding in London a decade ago, a period when the Bank of England was selling part of Britains gold at the bottom of the market to buy euros.
Many analysts say the world is moving towards a de facto gold standard again as China, Russia and other reserve powers boost their holdings to diversify out of dollars and euros.
(Excerpt) Read more at telegraph.co.uk ...
If it’s still here.. I wouldn’t trust us anymore either. Wouldn’t surprise me if our own vaults are empty and cashed out so 0bama could buy 0bamaphones and more votes.
This could be the start of something big!!!
I don’t blame them. I don’t trust the Kenyan either. He’s a shifty #!%@!. I definitely wouldn’t want my gold where he could get his thieving hands on it.
Thanks for the ping. We are living in interesting times.
Foreigners are seeing it now. If you can’t trust the president to uphold the Constitution you can’t trust him with your gold.
I have found this website to be a very useful source of information on the economy, gold, and silver.
And so it begins...
Very true. Have the remaining in shipment now.
Yup. It is called hyperinflation of essentials and hyperdeflation of everything else...
This is huge news. It is stark confirmation of the increase in political risk in the USA.
In protest to Cuomo the Confiscator and Bloomturd, everyone should pull out of New York, the new dumbest state.
Excellent move by Germanys Bundesbank.
Hope it’s not too late.
Do not trust any bank.
Wait till they find out that all that’s left is gold plated tungsten...
All that glitters is not gold.
I wonder how many tons of tungsten they will find?
And how many tons of Federal Reserve Bank IOUs?
Dumbest state.. NY or CA?
Sad, sickening and frightening. We must be prepared for the worst and we must keep praying.
This makes perfect sense. If the Soviets invaded Western Europe they would have immediately looted the bank vaults in any territory they overran.
From your link: Anonymous responds to Obama.
Was just discussing this with a dear friend, today. Strange happenings.
I think I would have got my gold first and announced it 2nd
I think the fuse is lit and it's too close to the powder, no stopping it now.
Just waiting for the inevitable bang.
This just the Rothschilds protecting their assets when these do not serve their interests or purposes. The history of the Rothchilds and Soros and the Rockefellers need to be taken as a lesson in international dealings.
Yup. This is huge.
LOL,, those silly Germans, being all disorganized and scatterbrained again. Second highest gold reserves of any nation. Don’t they know that only morons own physical gold?
Wait,,is this the same Germany that has a reputation for meticulous analysis and banking? And is the only solvent and sane country in the EU?
More effects of the Glass Steigal Repeal scam artists.
I sure wouldn’t trust the “progressive” oligarchy with anything of value, nor the state or city of New York, either.
Don’t forget the drones. They can see in the dark.
I think the end of the petrodollar is imminent.
That would be economic chaos, whether war would be the result, not sure...
(From original source)
....The latest shift in strategy follows criticism by the German Court of Auditors, who said in a confidential report that the gold held abroad had “never been verified physically” and was not under proper control. A growing chorus of lawmakers in the Bundestag has demanded a return of all Germany?s gold in case the financial crisis escalates.
Veteran gold trader Jim Sinclair said the Bundesbank?s move is a pivotal event in the gold market and the latest warning for investors that they should keep metal bars under their physcial control, rather than relying on paper contracts.
“This sends a message about storing gold near you and taking delivery no matter who is holding it. When France did this years ago it sent panic amongst the US financial leadership. History will look back on this salvo as being the beginning of the end of the US dollar as the reserve currency of choice,” he said....
Anonymous is a globalist pysop. Clever how they conveniently drop the “We Are Legion (demons)” tag when they’re trying to incite largely Christian patriots into a hot civil war.
If we follow the likes of Anonymous and Alex Jones, we follow them straight to hell.
Well, we didn’t panic when the Germans bombed Pearl Harbor and we won’t panic now.
Of course this means Geithner is going to be pushing those printing presses like the Das Boot engineer riding his diesels back to France.
“and was not under proper control”
That’s right, they want hard collateral. No control = No accountability for the Glass Steigal Repeal scam artists, and were given a free pass 2008.
NY Fed to Germany: "It was here the last time we looked, honest"
“War must be coming. These are foreshocks that are too big.”
I call it a reckoning. We cannot co-exist with liberals, and one of the sides has got to go...