(1)Follow the armored truck leaving Ft. Knox
(2)trail said truck to EKX Airport.
(3)Identify aircraft
(4)
I’ve got this far on my own but I’m still working out the details.
Ich bin ein Barlender
My understanding was Germany requested their gold and the FRBNY said “sure, give us 7 years to get it together”. I suspect Germany’s gold isn’t actually there any more. Germany had no choice but to agree to the 7 year withdrawal if they wanted any gold at all. Had they created a stink it would be obvious to all the other countries that have gold in storage there that it is in fact not there and would create panic, gold prices would go through the roof and there’d be no way the FRBNY could afford to replace the missing gold. That’s my theory.
Goldbug ping.
It is very clear - to the Germans and to everyone else who has been paying close attention (too few!) - that a significant portion of the gold they left on deposit at the Fed has been “leased out” and then sold into the open market as part of the ongoing efforts to help manage the decline in the value of the dollar at a reasonable (non-panic) rate.
Gold is a barometer for the value of the dollar, and by strategically selling gold into the market at key times (usually paper short-selling but sometimes by physical selling when necessary) central banks can manage the retreat in the nominal value of their unbacked currencies against the one store of value that has survived hundreds of failed paper currencies over centuries: gold.
The fact that Germany wants their gold back, and that they’re only getting a portion of it, and even that just in dribbles over seven + years confirms that some of it will have to be repurchased in the open market at prices much higher than when the gold was originally leased out. Plus - the way the Fed has required tha the repatriation be stretched out is a clear message to other central banks that will be asking for their physical gold to be returned: “Forget it!”
However, one has to commend the Fed for its long-standing success in pretending that reality is different than this. Fortunately, the truth is slowly becoming apparent to more and more people and central banks, and once hidden truth starts to leak out, it generally becomes unstoppable at some point.
Correction: Germany has requested that Paris and the US return their gold. The last time they made this request, the US apologized, and said there would be a delay because of hurricane Sandy.
However, they did not say when they expected to return the German gold. I suspect that Germany will have to quietly sue the US to get it back. Unless this administration gets hit with fines equal to or greater than the value of the gold, in such a way that they can’t ignore the fines as well, I have a feeling that they will tell Germany that “the gold is in the mail.”
BOOKMARK