Late last year it was revealed that the bulk of Germany’s considerable gold reserves were not, in fact, lodged in that country but deposited abroad. According to reports over 1500 of Germany’s estimated 3,400 tonnes of gold bullion are being held by the Federal Reserve depository in New York, a further 400 tonnes by the Bank of England in London and 374 tonnes in Paris, France. That’s around 70% of Germany’s gold held outside the country by “friendly” central banks. As a shocking aside one wonders whether the Queen, on her recent much publicised tour of the Bank of England gold vaults. was informed that, statistically, the gold on display was more likely German than British. This because the German gold reserves stored in that place comfortably exceed the entire British gold reserve. Gordon Brown, it will be remembered, sold off more than half of Britain’s gold reserves at knockdown prices around 2001, in a series of bizarre transactions now contemptuously known as “Brown’s Bottom”.
In actual fact after the United States (with gold reserves alleged to be around 8,100 tonnes) Germany’s gold reserves are believed to be the world’s second largest, although China’s undisclosed reserves (China being the world’s biggest gold producer and purchaser of gold bullion) may well now exceed those of Germany.
Until well into 2012 most Germans were unaware that so much of their gold was held in New York, London and Paris. Surprise quickly turned to disbelief when it was revealed that the Bundesbank not only claimed not to have ever audited these deposits but also sheepishly maintained that they didn’t even have a record of the serial numbers of the huge number of bars involved.
Public concern deepened further when it was alleged in sections of the German media that US authorities were both refusing to allow Bundesbank officials to audit their own gold for “security reasons” and were implying that they were not prepared to return any of it to Germany any time soon. This, in turn, has led to speculation that the US has variously sold, leased or simply stolen Germany’s gold. All of which has proven deeply embarrassing both to the Bundesbank and the federal government in Berlin, whose negligence or connivance with their US masters many feel to be at the root of the scandal.
According to official sources West Germany’s gold reserves were secretly relocated to New York, London and Paris in the 1960s – allegedly to prevent them from falling into Soviet hands in the event of a Warsaw Bloc invasion of Western Europe. This may well be true, although others have suggested that the US “strong-armed” Germany into handing over its gold to help prop up a faltering US dollar then backed by insufficient quantities of gold of their own. In other words, it was “borrowed” and “borrowed” without the
German people’s knowledge or consent, an unpleasant little fact that successive US vassal regimes in Berlin have kept from the German taxpayer. Further, Berlin has yet to offer up a convincing explanation as to why the gold was not returned after the collapse of the Soviet Union, over twenty years ago.
The latest news has it that the Bundesbank has announced that the US authorities are prepared to allow Germany to repatriate up to 50 tonnes of gold per year between 2014 and 2020, that being a total of 300 tonnes – about 20% of their German holding. Quite what is going to happen to the remaining 1,200 tonnes has not been disclosed. In addition the Bundesbank has confirmed that all of the 374 tonnes of German gold in Paris will be shipped to Frankfurt, whilst all German gold held by the Bank of England will remain in London.
Clearly something is very wrong and once again it involves the globalist bankster fraternity.
As previously stated the US possesses a gold reserve slightly in excess of 8,000 tonnes. That being the case then why should there be any problem in returning Germany’s gold without delay and in full?
One theory currently in play would have us believe that the US has sold much of its and the German gold, the latter in the expectation that the Germans would never have the audacity to demand its return. Another theory has it that the German gold has been used by US globalist banksters as collateral and that it underpins hundreds of billions of dollars worth of derivative trades. In other words, to return Germany’s gold would be to crash a substantial part of the banksters multi-trillion dollar derivatives scam thereby unleashing severe economic mayhem.
However an even more interesting suggestion appeared within the columns of the Daily Telegraph only this week. The relevant section being:-
“Every few months there is a discussion regarding what China are planning on doing with the gold they both mine and import every year, with many believing they are hoarding the metal as an insurance against the billions of US Treasury bonds, notes and bills they hold. Many believe they will issue some kind of gold-backed currency in the short-term and dump its one trillion dollars’ worth of US Treasury securities. Whilst, at the moment the US seem to take their monopoly currency for granted, should the Chinese or anyone
else behave in such a manner, the US will need to respond – most likely with gold, which on its own it does not have enough of.”
In other words the US needs German gold to defend the dollar against what would be, in effect, an all out currency war with China.
A further complication from the US bankster point of view is the news that the German Auditors/High Court have ordered that repatriated ingots be assayed to confirm that they are solid gold and not, presumably, gold plated tungsten (tungsten being the only metal with a mass that closely approximates to gold, making it the metal of choice in gold bar counterfeiting). This precaution apparently arising from an oft-repeated allegation (Internet myth?) that one or more “gold” bars originating from the New York depository has previously been discovered to have a relatively worthless tungsten core.
Cynics have also suggested, rightly or wrongly, that no German gold at all will ever leave New York for Frankfurt and that the 50 tonne per annum limit is yet another scam having the objective of allowing the Bundesbank banksters to covertly buy gold from the open market each year, using German taxpayers money, without raising suspicion. Thus, over the allotted time. replenishing German gold reserves in Frankfurt to the agreed transfer limit – a scam ensuring that all the German gold remains in New York and
letting both the banksters and their political hirelings on both sides of the Atlantic off the hook.
At this point in time it is not possible to know how the scandal will eventually pan out.
However, some good has come of it, millions of people are waking up to the fact that the globalist financial system and the bought and paid for national political regimes in London, Washington, Paris and Berlin are rotten to the core.
The German people in particular could do worse than to ponder a piece of Shakespearean wisdom as penned in the bard’s Merchant of Venice – namely. “Not all that glitters is gold.”
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Perhaps Auric Goldfinger really did let that bomb off.
With Russia and China fast approaching the re establishment of some form of Gold Standard this country is going to find itself sorely lacking.
A Gold Standard has its drawbacks but it is a damn sight better than printing money into infinity. We all know that is unsustainable.
“Experts” will say and write that the price of Gold is in a bubble.
If anything is in a bubble it is fiat currency.
Britain is every bit as economically colonised by the US as is Germany – when Washington says ‘jump’ Camermoran, like Merkel, asks ‘how high?’ I would suggest it’s high time that Britain told the US to ‘sling its hook” and we build new alliances with countries such as Russia. Germany, France etc on terms that our beneficial to us and not Washington.
As regards the ‘gold bubble’ – in the event of economic meltdown I would much rather end up holding any amount of gold than a mountain of fiat paper currency called banknotes.
Entrusting your nation’s gold to the US Federal Reserve must be the financial equivalent to entrusting Jimmy Savile with the care of your children
De Gaulle famously sent a warship to New York to pick up France’s gold.
I do hope that we will do the same should we need to claim any of our gold. How that would cheer the nation’s spirits!
An interesting article, though largely based upon speculation. Anonymous rumours about replacing gold bars with tungsten circulating on the internet are best taken with several sack loads of salt!
To see nationalists half warming to the gold standard is certainly novel. What next, Ayn Rand co-opted into the Pantheon of heroines of our folk?
“You shall not crucify mankind upon a cross of gold” said William Jennings Bryan. For a long time radical nationalists praised that speech, and praised the loathsome tyrant Abraham Lincoln for one thing at least, namely printing greenbacks issued on the faith and credit of the Federal government, that is to say, fiat money, not backed by gold, but evidently this view is going out of fashion!
Still, an interesting article, I agree. A few months ago President Hugo Chavez of Venezuela decided to repatriate the Bolivarian Republic’s gold reserves to Caracas (IMHO a much better idea than leaving them at the Fed.). Did he get them back? I suspect that the answer is yes, since otherwise that consummate demagogue would have kicked off about gringo defaults big time. If Venezuela can repatriate its gold, so can Germany.
“You shall not crucify mankind upon a cross of gold” said William Jennings Bryan.” Bryan represented a state which mined silver.
There can be no “social” justice without ultra hard money: only the precious metals will do.
Under the Gold Standard between the wars, there were huge problems because of countries losing or gaining the gold required to back their money supplies.
Someone pointed out the whimsical fact that gold movements between countries were often not physical at all. All that happened was that porters pushed barrows of gold round the vaults of the Bank of England between piles marked France, England or whatever!
There is nothing new in storing gold abroad.