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« Guess How Many Millionaires Collect Unemployment | Main | Bitcoin Down 50% In Massive Sell Off: $1 Billion Vaporized »
Thursday
Apr112013

CNBC: "There's A Rumor There's No Gold At Fort Knox"

On Germany demanding its gold back from the Fed.

Just found this clip.  Good discussion.

Larry Lindsey and the Squawk Box team discuss why Germany is moving some of its gold out of storage at the New York Federal Reserve.  Broadcast Jan. 16.

Joe Kernen: "There's a rumor there's no gold at Fort Knox."

 

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More Detail

German Gold Storage In The Year 2020

The German central bank is planning a “phased relocation” of 300 tonnes (metric tons) of gold from New York to Frankfurt as well as an additional 374 tonnes from Paris to Frankfurt by 2020.  The reserves should end up looking like this:

  • Frankfurt (31%, currently) 50% by Dec. 31, 2020
  • New York (45%, currently) 37% by Dec. 31, 2020
  • London 13% no change
  • Paris (11%, currently) 0% by Dec. 31, 2020

Bundesbank -- Official Statement On Gold Repatriation

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This is pretty funny:

Fort Knox Receives Just $85 From Cash4Gold

Stuart Varney, the last person to have seen the Fed's foreign gold vaults...

 

Related:

James Turk: "Germany's Gold Is Being Held Hostage"

 

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Reader Comments (3)

Non-Existent Gold:

"The Bundesbank is, of course, quite right in its opinion of the value of the examinations. In reality, it does not matter one bit whether the Federal Reserve Bank of New York actually has the German central bank’s gold or whether the gold is pure. As long as the Fed says it is there, it is as good as there for all practical purposes to which it might be put. It can be sold, leased out, used as collateral, employed to extinguish liabilities and counted as bank capital just the same whether it exists or not."

http://www.cnbc.com/id/49540593

John Carney on Shrooms
Mar 19, 2013 at 4:33 PM | Registered CommenterDailyBail
He didn't say "There's a rumor there's no gold in Fort Knox". He said "The conspiracy people say there's no gold in Fort Knox". It isn't a huge difference, but if you are going use quotation marks, you should write exactly what was said.
Apr 15, 2013 at 2:13 PM | Unregistered CommenterDan

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