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« Chinese Billionaire Sells 8 Million CANS Of Fresh Air | Main | U.S. Govt Borrows $6 Billion Per Day, $4 Million Per Minute »
Tuesday
Jan292013

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

Smoke and mirrors.  The Fed doesn't have the gold.

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Highlight from James Turk's interview Saturday with King World News.

“It’s quite clear that the German gold is being held hostage.  They are not getting what they want.  They are getting what the Federal Reserve is telling them they can have.  The fact that they are doing it over 7 years rather than 7 weeks, is just an indication that gold probably isn’t in the Federal Reserve, and the Federal Reserve doesn’t want to have to go out and buy it overnight to fulfill the German demand.  They are trying to stretch it out as long as possible in order to keep gold prices controlled.”

“I mean you can do 5 tons at a time on an airplane shipment. A few hundred shipments and you can have that (1,536 tons of) gold back (in Germany) in a matter of weeks. The only possible conclusion you can make is the gold isn’t there.

You can do what France did back in the 1960s....

“You send over a couple of ships and bring the gold back to your country that way.

When Charles de Gaulle asked for his gold out of the Federal Reserve back in 1962, it didn’t take 7 years. He got it right away. But back then the gold was in the Federal Reserve because it wasn’t going out in the leasing and lending program that governments have been using in recent years in order to keep the gold price suppressed.

It will be interesting to see whether this leads to other central banks also asking for their physical gold.  And more importantly, since there are so many paper (claims on gold) in the various gold ETFs around the world, it will be interesting to see whether the institutional investors are starting to recognize what the central banks are doing, and take some of that GLD and all of the other ETF paper and start saying, ‘Look, I don’t want shares, I actually want ounces.  Deliver me the physical metal.’

Continue reading...

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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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Funny stuff:

This just in from the Onion...Geithner is pissed.

 

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Reader Comments (11)

You won't find the gold missing from Ft. Knox until you first hold queen lizard and Bush41 over a roaring fire, hung by their heels.
Jan 21, 2013 at 11:14 PM | Unregistered CommenterHoward T. Lewis III
The next few weeks & months & 7 years might be exciting.
Jan 22, 2013 at 12:31 AM | Unregistered CommenterTR
Jan 22, 2013 at 2:48 AM | Registered CommenterDailyBail
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

http://blogs.marketwatch.com/thetell/2013/01/16/its-official-the-bundesbank-is-bringing-some-of-its-gold-home/
Jan 22, 2013 at 2:49 AM | Registered CommenterDailyBail
Who in their right mind,would trust the fed?
Jan 30, 2013 at 2:06 PM | Unregistered CommenterGeorge
Too complicated for the Fed to hold Germany's gold hostage. More reasonably, the Bush cabal sent it to England long ago for points with the lizards and much later cast tungsten and gold plated it in New Jersey when the piles drew down.
Jan 30, 2013 at 5:17 PM | Unregistered CommenterHoward T. Lewis III
Any chance the reason for the 7 year delay is because the gold was/is leased out, and this allows time for the leases to expire and the gold to be returned to the Fed before sent back to Germany?

Just asking......
Jan 31, 2013 at 2:05 AM | Unregistered Commenterfarang
Feb 2, 2013 at 12:24 PM | Registered CommenterDailyBail
The official story is that the gold needs to be refined to meet current standards before being repatriated.
Feb 17, 2013 at 2:51 AM | Unregistered CommenterA P
The government is rogue. The air wasn't safe to breath and the water wasn't safe to drink. Building 7 went into unquestionable free fall. Nano thermate is in the 911 dust. The government's criminal demeanor with the crime of the century convicts them of the crime. The United States government has been conquered by a criminal mafia. A group of baby killing, mass murdering, war criminals. What's a few gold bars to them? Every country should demand the return of their physical gold on receipt with that private bank better known as The Fed.
Mar 18, 2013 at 12:10 PM | Unregistered Commenterbeijingyank
Free fall of Building 7, WTC molten metal, and nano thermite in the 911 dust if proof enough to the Germans and anyone with a high school diploma the U.S. government is rogue.
I don't think Germany is going to be alone in asking for their gold back. It's the only prudent to do. And guess what? The Fed fails to deliver...oh, I almost forgot, Germany's gold was under the WTC on 911. These scumbags refuse an audit and now they want time before they return what does not belong to them. Yep, psychopath, war criminals, in control of the U.S.A. The government is rogue.
Mar 21, 2013 at 12:22 PM | Unregistered Commenterbeijingyank

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