Topic: FED refuses to return back Germany gold after an failed audit - page 3. (Read 13610 times)
Ich bien ien!
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
the fed's vaults are not a "sovereign" state. the fed is a private corporation.that lends money to the US
I actually disagree with the theory that Fannie May, Freddie Mac, the Fed, etc, etc, ad nauseum, are "separate from the US". They are so created to create the appearance of distance between entities, yes.
ANYWAY, interesting question.
Suppose Germany were to sell some of the gold in the FED vault - auction it on the market.
What price would they get?
LOL...
A good one. They would sell it as an option to produce the gold for a certain price: Paper gold.
You buy the option for the FED held gold from Germany, then by a credit derivative swap as a bet that they don't pay off. Then you get the gold if they pay, and the gold if they don't pay.
Wait....something's wrong there.....
You forgot something. You need to sell a future on this one, being a bank and all, with the option to buy it if they happen to ship before day X.
That is, you get a piece of paper that allows you to buy a piece of paper on day x, if the gold backing the piece of papers has been audited yet. At 5% management fees, of course.
But wait....something's not quite adding up...
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
the fed's vaults are not a "sovereign" state. the fed is a private corporation.that lends money to the US
I actually disagree with the theory that Fannie May, Freddie Mac, the Fed, etc, etc, ad nauseum, are "separate from the US". They are so created to create the appearance of distance between entities, yes.
ANYWAY, interesting question.
Suppose Germany were to sell some of the gold in the FED vault - auction it on the market.
What price would they get?
LOL...
A good one. They would sell it as an option to produce the gold for a certain price: Paper gold.
You buy the option for the FED held gold from Germany, then by a credit derivative swap as a bet that they don't pay off. Then you get the gold if they pay, and the gold if they don't pay.
Wait....something's wrong there.....
You forgot something. You need to sell a future on this one, being a bank and all, with the option to buy it if they happen to ship before day X.
That is, you get a piece of paper that allows you to buy a piece of paper on day x, if the gold backing the piece of papers has been audited yet. At 5% management fees, of course.
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
the fed's vaults are not a "sovereign" state. the fed is a private corporation.that lends money to the US
I actually disagree with the theory that Fannie May, Freddie Mac, the Fed, etc, etc, ad nauseum, are "separate from the US". They are so created to create the appearance of distance between entities, yes.
ANYWAY, interesting question.
Suppose Germany were to sell some of the gold in the FED vault - auction it on the market.
What price would they get?
LOL...
A good one. They would sell it as an option to produce the gold for a certain price: Paper gold.
You buy the option for the FED held gold from Germany, then by a credit derivative swap as a bet that they don't pay off. Then you get the gold if they pay, and the gold if they don't pay.
Wait....something's wrong there.....
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
the fed's vaults are not a "sovereign" state. the fed is a private corporation.that lends money to the US
I actually disagree with the theory that Fannie May, Freddie Mac, the Fed, etc, etc, ad nauseum, are "separate from the US". They are so created to create the appearance of distance between entities, yes.
ANYWAY, interesting question.
Suppose Germany were to sell some of the gold in the FED vault - auction it on the market.
What price would they get?
LOL...
A good one. They would sell it as an option to produce the gold for a certain price: Paper gold.
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
the fed's vaults are not a "sovereign" state. the fed is a private corporation.that lends money to the US
I actually disagree with the theory that Fannie May, Freddie Mac, the Fed, etc, etc, ad nauseum, are "separate from the US". They are so created to create the appearance of distance between entities, yes.
ANYWAY, interesting question.
Suppose Germany were to sell some of the gold in the FED vault - auction it on the market.
What price would they get?
LOL...
... while we in fact are basically printing money to buy every illiquid state in the European Union to dictate our terms, is ridiculous.
And this is the effect of the fed's quantitative easing policy. In order to remain competitive, since all trade is linked to the dollar, countries around the world need to print money. ECB is no exception. The difference between Germany and other EU countries is that Germany has a robust economy that is able to absorb the printing of those Euros. The smaller countries? Not so much. On the surface you can call it a bailout. I think it's more like the wealth of those smaller countries is being inflated away.
I remember news from a few months ago saying Germany was seeking to move their gold out.
I did not really think that this would be the way how things got "resolved".
This also explains to me why gold took a dive.
We'll probably see another dive when Germany tries to do something about this and get "shot down" again.
Good news for BTC bulls!
I did not really think that this would be the way how things got "resolved".
This also explains to me why gold took a dive.
We'll probably see another dive when Germany tries to do something about this and get "shot down" again.
Good news for BTC bulls!
No worries, we will get our gold out there. You know how? By threatening to completely dump our reserves on the market while holding a ridiculous ton of options.
Germany is, and that is a funny thing, one of the largest world economies. And lately, our government has gone megalomanic. We have realized that a majority portion of our money comes from Europe, not the US, and therefore started strangling everyone in Europe that didn't like our politics. I am not a fan of this, but the pressure coming from the German government, while we in fact are basically printing money to buy every illiquid state in the European Union to dictate our terms, is ridiculous.
You might not have noticed, but our chancellor is actually a pretty cool one. Tough, smart and does not really give a shit. Criticism just pearls away from her, like a Teflon pan. But next to her sits another guy. A guy in a wheelchair, his name is Wolfgang Schäuble. He is, to my understanding, probably a little more dangerous than all others. He has shown to be a choleric, near antisocial personality that has mobbed out his best people. He has shown zero tolerance and zero understanding for other nations. And he is the one that will ultimately push for the moves when it comes to finance, since he is the secretary of finance. Almost every single move of this man has been dangerous. Every single policy this man pushed forward has been leading towards more disaster. He is behind the crackdowns on the german elite right now, pushing some of the most notorious tax evaders into submission.
He is aided by the german social party, who hate his guts, but thanks to their neverending fiscal stupidity, are pushing us further and further towards a never paid back debt level. And with this debt, we are "buying" other countries.
So, the gold? Yeah, the Bundesbank will put options and certificates out buying German gold reserves. That is my guess. After some time, once losses are consolidated a little, they will start pressuring to bring the gold back or simply sell it.
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
the fed's vaults are not a "sovereign" state. the fed is a private corporation.that lends money to the US
..... there are a bunch of countries with receipts for gold from the NY Federal Reserve. In fact, there was this small but vocal group of people in Germany that kept calling for their government to get their gold back, or at least an audit for God's sake. Finally, the Bundesbank heard the voices from this small group and has asked for a sizable portion of their gold back.
I think that brings us up to date on where were are in this story.
....And the Germans were refused. Why? The FED didn't need to refuse, they have lots of money. THey can print money and buy gold with it. So why couldn't the Germans see, audit or take their gold?I think that brings us up to date on where were are in this story.
I think there's a crime here.
The Federal Reserve and many central banks like it have to this day engaged in fraud, extortion, blackmail and price fixing since their conception, they have always committed crimes, the only difference is, they don't go to jail for it like the rest of us would.
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Sorry dude, but we're broke.
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Sorry dude, but we're broke.
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Guess all the world is broke...
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Second, the US did not outright refuse to give them the gold - they reached an agreement that half of it would be returned by 2020.
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Did Germany have only paper gold? If so, where did the serially number bars go?
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Second, the US did not outright refuse to give them the gold - they reached an agreement that half of it would be returned by 2020.
...
Did Germany have only paper gold? If so, where did the serially number bars go?
...
jFYI
Just some figures...
Now
Overall German gold reserves: 3396 tons.
US "stock": 1536 tons.
UK "stock": 450 tons.
France "stock": 347 tons.
Germany "stock": 1036 tons.
As the Bundesbank decides in January to have 50% of the whole reserves "in town", the plan is moving 300 tons from New York and the bunch from France to Germany.
2020 plan
Overall German gold reserves: 3396 tons.
US "stock": 1236 tons.
UK "stock": 450 tons.
Germany "stock": 1710 tons.
All gold bought between 1951 and 1968 (or 1971), therefore no paper gold at all.
Greetings from Germany!
Welcome to the world of the wannabe socialist enablers, the FED.
and now it's happening again
http://goldnews.bullionvault.com/gold_dollar_France_Sarkozy_de_Gaulle_crisis_111020072
This is a good read, written in 2007, before Bernanke's QE1 announcement in August 2008. You can see front lines in our current currency war to materialize before your very eyes....
Quote from: from the article
And today?
"Printing a $100 bill is almost costless to the US government," as Thomas Palley, a Washington-based economist wrote last year, "but foreigners must give more than $100 of resources to get the bill.
"Printing a $100 bill is almost costless to the US government," as Thomas Palley, a Washington-based economist wrote last year, "but foreigners must give more than $100 of resources to get the bill.
The exporting of inflation from the US to the rest of the world becomes the result. Charles de Gaulle's quote that "a rush for the exits – out of the Dollar – might just 'shatter the world' " still stands true today.
Many folks suspect Ft. Knox and other U.S gold reserves were raided a while ago.
I saw a terrific documentary on it, but damn it, can't recall what it was called. It might have been a part of 'Money Masters'.
But they hardly allow any audits of the reserves, there is very little accountability, and (obviously) no one really knows which element of our the great benevolent American Empire stole it.
I saw a terrific documentary on it, but damn it, can't recall what it was called. It might have been a part of 'Money Masters'.
But they hardly allow any audits of the reserves, there is very little accountability, and (obviously) no one really knows which element of our the great benevolent American Empire stole it.
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
Because it had become a looted, occupied, carved up and divided police state territory after losing the war, and never recovered it. Degaulle recovered France's, then "IT" happened...
http://goldratefortoday.org/history-gold-part-3-bretton-woods-system/
and now it's happening again
http://goldnews.bullionvault.com/gold_dollar_France_Sarkozy_de_Gaulle_crisis_111020072
There is no more "US Gold" there hasn't been and there still isn't, it was mostly all on paper to begin with and that was lent out and stolen and then the dud loan/bonds and their "derivatives" were/have been and still are being "hypothecated" a hundred times over.
I explain "derivatives" here:
https://bitcointalksearch.org/topic/m.1832923
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
One of the main purposes of having gold reserves is so that your government-in-exile has something to work with in the event of an invasion or a coup.
According to sources more reliable than "nsnbc.me", the German cabinet originally tried to do it the right way and turn $100 billion into Bitcoins and stick them in a multi-sig brain-wallet, but they got stuck in the verification queue.
just an innocent question, why fuck would sovereign state store its national treasure in another sovereign state's vaults, anybody?
I read somewhere that Germany gets paid %1 per year interest for doing so, besides the historical reasons (Germany stored their gold in many different places to lessen the chance the gold would be stolen during war)
...
Sorry dude, but we're broke.
...
Sorry dude, but we're broke.
...
Guess all the world is broke...
...
Second, the US did not outright refuse to give them the gold - they reached an agreement that half of it would be returned by 2020.
...
Did Germany have only paper gold? If so, where did the serially number bars go?
...
Second, the US did not outright refuse to give them the gold - they reached an agreement that half of it would be returned by 2020.
...
Did Germany have only paper gold? If so, where did the serially number bars go?
...
jFYI
Just some figures...
Now
Overall German gold reserves: 3396 tons.
US "stock": 1536 tons.
UK "stock": 450 tons.
France "stock": 347 tons.
Germany "stock": 1036 tons.
As the Bundesbank decides in January to have 50% of the whole reserves "in town", the plan is moving 300 tons from New York and the bunch from France to Germany.
2020 plan
Overall German gold reserves: 3396 tons.
US "stock": 1236 tons.
UK "stock": 450 tons.
Germany "stock": 1710 tons.
All gold bought between 1951 and 1968 (or 1971), therefore no paper gold at all.
Greetings from Germany!
Why haven't gold prices skyrocketed on this news? 
First, the mainstream media did not pick the story up. Second, the US did not outright refuse to give them the gold - they reached an agreement that half of it would be returned by 2020. The important thing is what you get if you read between the lines.Finally, counterparty risk in gold can simultaneously cause the price to go up, and down. It's the paper gold that's the problem.
Did Germany have only paper gold? If so, where did the serially number bars go?
Yes this is old news, there's no change. From what I recall Germany moved a lot of gold to the Bankrupt States of America during the cold war.
Why haven't gold prices skyrocketed on this news?
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