Germany pulls NY held gold

It's possible that the Germans forsee the importance of the Dollar as reserve declining in the near future.

Obviously just calling up the Fed and asking them to courier it over to Hong Kong or Dubai wouldn't go over too well, so this makes sense as an intermediate step.
 


schockergd said:
#1 (The "Accepted" version) - Germany is getting greedy and doesn't want to pay NY or any other bank to hold their gold, so they're moving it all back home so they don't have to pay anyone.
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Yeah not likely, or at least not the dominant reason.

#2 (My theory) - Germany inspected the BNY vaults back in November. They didn't like what they saw. BNY refused for more than a solid month to let them review the assets that are rightfully theirs. This was more than enough time to truck in gold from other places or to play games with it. Afterwards BNY let them review something like only 5% of the gold that is held there, far less than they are owed. During this time, they felt very uncomfortable with BNY and decided to withdraw it. Personally, I have a major concern that BNY is working with COMEX to use the foreign gold reserves to float physical delivery.
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Yep.

#3 (A popular one) - Germany plans in the near future to see the EU collapse and re-introduce a gold mark. It wasn't that long ago that West Germany backed the mark with gold, and they could do it again with the over 3,000 tons of gold they have.
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Normally this would be suicide for any euro country but if any of them can do it it's Germany. Other countries who attempt to back out of the Euro and introduce a sovereign currency would likely be blasted into oblivion by derivatives. And even Germany with all their lovely gold, I'm not sure they could do it and survive the speculative onslaught that would follow.

#4. The ECB is working through Germany as a spectacle for USD bad press to weaken the dollar against the Euro.
 
Still no mention on the MSM nor bloomberg. If this news is accurate, today was a very good day to buy. (Still is over here in asia for now.)
 
They won't cover it becuase it hasn't happened yet. Financial news shows (CNBC, bloomberg) are very bad on forecasting, they just report stuff when it's too late. If they knew it early on, there's no incentive to report it when they can profit.
 
schockergd said:
There's a few prevailing theories.

#1 (The "Accepted" version) - Germany is getting greedy and doesn't want to pay NY or any other bank to hold their gold, so they're moving it all back home so they don't have to pay anyone.
Click to expand...

In the beginning of this "bring back our gold" movement in germany there was this official statement regarding the raise of storage cost by the BNY.
But that is irrelevant.

#2 (My theory) - Germany inspected the BNY vaults back in November. They didn't like what they saw. BNY refused for more than a solid month to let them review the assets that are rightfully theirs. This was more than enough time to truck in gold from other places or to play games with it. Afterwards BNY let them review something like only 5% of the gold that is held there, far less than they are owed. During this time, they felt very uncomfortable with BNY and decided to withdraw it. Personally, I have a major concern that BNY is working with COMEX to use the foreign gold reserves to float physical delivery.
Click to expand...
More or less correct. The hole issue started last year when that shitstorm with the US rating agencies and europe went down. And as they came to threaten even germany to lower their ratings; the Bundestag got all up and crazy about how those political connected US corporations are threatening germany's and europe's future ignoring the fact that the US itself is bancrupt and has a AAA rating ,and that we need our own rating agencies (which is in building afaik) and bring our gold home. It went big and all in german/eu press,so they send someone to inspect, and as a result are starting the process to bring it all back home.

When UTexas closed their gold contract for $1 billion of gold (Only 664,300 ounces), comex took something like 3 days to provide it to them for inspection, beyond the required margin for delivery. This was early last year when gold was around $1400-$1500 per ounce.

This SHOULD be of major concern to any bank who holds gold in US reserves. If Comex can't pony up with a measly 6,643 gold bars, what happens when Germany asks for their 44,572,500 gold bars?
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AFAIK, all future contracts are settled in a 3 day window.

#3 (A popular one) - Germany plans in the near future to see the EU collapse and re-introduce a gold mark. It wasn't that long ago that West Germany backed the mark with gold, and they could do it again with the over 3,000 tons of gold they have.
Click to expand...
Not very likely.
IMO, Germany,Austria,Netherlands,Luxembourg,Belgium will never break up the euro, they may very well be those countries which will form the EU in the future.
About France i am not sure, those fuckers will never leave the EU on free will because it was them who demanded the introduction of the euro so they could suck everyone else dry. What a bunch of faggots. /rant

I think in our age and time it's just the most logical thing to do bringing such assets back home.
It was distributed in the first place to A)keep it save from ivan and B)have fast liquidity on hand in case of a default from the still young D-Mark.
None of those arguments is valid anymore.

MSTeacher said:
#4. The ECB is working through Germany as a spectacle for USD bad press to weaken the dollar against the Euro.
Click to expand...

That makes no sense at all. Europe is export orientated. The last thing they want right now is a strong euro.
The name of the game right now is financial repression. The name of the game right now is who can devalue his currency more and pull of the biggest heist in history.
 
yast said:
In the beginning of this "bring back our gold" movement in germany there was this official statement regarding the raise of storage cost by the BNY.
But that is irrelevant.

More or less correct. The hole issue started last year when that shitstorm with the US rating agencies and europe went down. And as they came to threaten even germany to lower their ratings; the Bundestag got all up and crazy about how those political connected US corporations are threatening germany's and europe's future ignoring the fact that the US itself is bancrupt and has a AAA rating ,and that we need our own rating agencies (which is in building afaik) and bring our gold home. It went big and all in german/eu press,so they send someone to inspect, and as a result are starting the process to bring it all back home.

AFAIK, all future contracts are settled in a 3 day window.

Not very likely.
IMO, Germany,Austria,Netherlands,Luxembourg,Belgium will never break up the euro, they may very well be those countries which will form the EU in the future.
About France i am not sure, those fuckers will never leave the EU on free will because it was them who demanded the introduction of the euro so they could suck everyone else dry. What a bunch of faggots. /rant

I think in our age and time it's just the most logical thing to do bringing such assets back home.
It was distributed in the first place to A)keep it save from ivan and B)have fast liquidity on hand in case of a default from the still young D-Mark.
None of those arguments is valid anymore.



That makes no sense at all. Europe is export orientated. The last thing they want right now is a strong euro.
The name of the game right now is financial repression. The name of the game right now is who can devalue his currency more and pull of the biggest heist in history.
Click to expand...

Comex did come up with the gold in 3 days as per the settlement requirements, HOWEVER they initially asked UT to wait more than 7 days for settlement. They tried and tried to get them to wait longer but UT kept reminding them that if comex didn't pony up in 3 days it would mean a complete crash, so somehow they came up with the gold. The prevailing theory is that comex is continually short on gold reserves and can't close even a small percentage of the contracts out there.
 
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