CLASSIFIED
REPORT: GERMANY WITHDREW 1000 TONS OF GOLD FROM LONDON IN 2000-01
25
October, 2012
On
Monday, we reported that the German
Financial Accountability Office had mandated the Bundesbank
repatriate 150 tons of German gold from the NY Fed over the next 3
years. While this was to be expected and even inevitable
in the wake of Venezuela’s gold repatriation in 2011 as well as
global rehypothecation concerns, a previously classified report
leaked today has revealed a much larger German gold repatriation has
already occurred- from 2000-01!!
The
previously classified report reveals that the Bundesbank
withdrew nearly 1,000 tons of physical gold from the Bank of England
in 2000-2001, decreasing Germany’s gold holdings in London from
1,440 tons to 500 tons.
Let
that sink in for a moment. Germany
withdrew 1,000 tons of physical gold from the Bank of England at the
EXACT TIME that gold bottomed and began its decade long bull
run. Did
Germany pull the carpet out from under the cartel gold leasing party
and ignite gold’s secular bull market in 2000?
A
full 25% of Germany’s gold reserves were repatriated over a decade
ago- talk about being ahead of the game!
From the Telegraph:
The revelation came as Germany’s budget watchdog demanded an on-site probe of the country’s remaining gold reserves in London, Paris, and New York to verify whether the metal really exists.
The country has 3,396 tons of gold worth €143bn (£116bn), the world’s second-largest holding after the US. Nearly all of it was shifted to vaults abroad during the Cold War in case of a Soviet attack.
Roughly 66pc is held at the New York Federal Reserve, 21pc at the Bank of England, and 8pc at the Bank of France. The German Court of Auditors told legislators in a redacted report that the gold had “never been verified physically” and ordered the Bundesbank to secure access to the storage sites.
It called for repatriation of 150 tons over the next three years to test the quality and weight of the gold bars. It said Frankfurt has no register of numbered gold bars.
The report also claimed that the Bundesbank had slashed its holdings in London from 1,440 tons to 500 tons in 2000 and 2001, allegedly because storage costs were too high. The metal was flown to Frankfurt by air freight.
Finally,
the $1 Trillion question- how much longer until the Bundesbank
requests the repatriation of its remaining 2200 tons of gold
supposedly held at the NY Federal Reserve, and in doing so takes down
the entire global banking system?
The refrain has been picked up by German legislators. “All the gold must come home: it is precisely in this crisis that we need certainty over our gold reserves,” said Heinz-Peter Haustein from the Free Democrats (FDP).
The
jig is apparently up- unallocated gold is essentially paper:
Peter Hambro, chair of the UK-listed gold miner Petropavlovsk, said the Bundesbank may have withdrawn its bullion in self-protection since it did not, apparently, have its own specifically allocated bars in London. “They may have decided that the Bank of England had lent out too much gold, and decided it was safer to bring theirs home. This is about the identification. Can you identify your own allocated gold, or are you just a general creditor with a metal account?“
Got
PHYZZ??
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