Wednesday, February 5, 2014

Where the Hell is Germany's Gold?

By Paul Rosenberg

You may have heard something about this story, but I think it’s important to take a few minutes to restate the facts clearly. In the modern newsenvironment, stories come and go so fast – and in so many parts – that it’s very easy to get lost along the way.
So, here’s what we know so far:
  • In 2012, the Bundesbank (the central bank of Germany) asked to visit the vault of theFederal Reserve in New York, to view the 1,536 tons of gold they have stored there.
  • The Federal Reserve told them no. They were not allowed to see their gold.
  • In response, Germany said that they wanted 300 tons of their gold back.
  • The Federal Reserve said that they’d need seven years to get the gold back to Germany. (Something that should take them seven weeks, tops.)
  • One year later, the Fed has returned only 5 tons of gold to Germany. At this rate, it will take 60 years for the Germans to get less than one fifth of their gold back.
Though I don’t know precisely what, it is very clear that something strange is going on here… something that the prestigious central bankers want to keep away from the light of day.
Shipping 300 tons of metal is hardly a new and difficult technical challenge. Companies involved in metal trading do this all the time. Sure, gold requires extra security, but security is also something that lots of people know how to provide.

3 comments:

  1. pretty obvious. they've sold it and pocketed the proceeds.

    ReplyDelete
  2. checkout the Exchange Stabilization Fund that FDR created in 1933 to play the market to keep the gold price down. The german and most of our supposed 8,300 tonnes were probably sold doing this

    See my book 'Monetary Revolution USA' on amazon.com

    D Redick saferinvesting.org

    ReplyDelete
  3. Everyone knows they stole it, and what's more, they'll get away with it.

    ReplyDelete