GERMAN GOLD RESERVES - Germany Repatriates Its Gold Reserves from U.S.
Despite previously characterizing the idea that it was planning on
moving gold out of the New York Fed as an “irrational fear,” the German
Bundesbank is set to announce a huge repatriation of its bullion this
week, with France also being emptied of German gold in a sign that trust
between central banks has hit rock bottom.
“In what could be a
watershed moment for the price, provenance, and future of physical gold,
not to mention the “stability” of the entire monetary regime based on
rock solid, undisputed “faith and credit” in paper money, German
Handelsblatt reports in an exclusive that the long suffering German
gold, all official 3,396 tons of it, is about to be moved. Specifically,
it is about to be partially moved out of the New York Fed, where the
majority, or 45% of it is currently stored, as well as the entirety of
the 11% of German gold held with the Banque de France, and repatriated
back home to Buba in Frankfurt,” reports Zero Hedge. Apparently, since a
significant proportion of that gold is now being moved out of the New
York Fed, are we to assume that this “trust” no longer exists?
A
month prior to that statement, which was made directly to the NY Fed’s
Bill Dudley, the Bundesbank stated that it would “continue to keep gold
at international gold trading centres” because that gold could be
“pledged with the Federal Reserve Bank as collateral against US
dollar-denominated liquidity.” The evidence of gold price manipulation
is clear.
The evidence of gold price manipulation is clear
Financial
analyst Jim Willie sensationally claims that Germany is preparing to
ditch the unipolar system backed by NATO and the U.S. in favor of
joining the BRICS nations, and that this is why the NSA was caught
spying on Angela Merkel and other German leaders.
real reason
behind the recent NSA surveillance scandal targeting Germany was
centered around the United States’ fear that Europe’s financial
powerhouse is looking to escape from an inevitable dollar collapse. The
absolutely stunning decision by the Swiss National Bank to decouple from
the euro has triggered billions of dollars worth of losses all over the
globe. Buying surreptitiously allows Beijing to buy bullion at
bargain prices; if the world knew how much gold China was really
amassing, a run on gold the likes of which the globe has never seen
would likely ensue. “We believe China is controlling the gold price
because it is buying in such a way so as not to push prices up.” That’s
the opinion of respected precious-metals analyst Julian Phillips of The
Gold Forecaster, along with a host of other informed sources. (source)
gold bullion
The “perfect-storm” of
geopolitical instability, diplomatic isolation, severe currency
depreciation, and economic decline now confronting Russia has profoundly
damaged Moscow’s international standing, and possibly for the
long-term. hyperinflation usd
Most loyal readers of my Frank
Talk blog know that China, along with India, leads the world in gold
demand. This Chinese New Year is no exception. Official “Year of the
Ram” gold coins sold out days ago, and since the beginning of January,
withdrawals from the Shanghai Gold Exchange have grown to over 315
tonnes, exceeding the 300 tonnes of newly-mined gold around the globe
during the same period.
With the gold price continuing to
outperform stocks and cyclical commodities in 2010, debate has
intensified over how much upside is left in gold’s bull market. One of
the most successful investors of this generation, John Paulson, the
hedge fund magnate who rose to fame for shorting securities tied to the
housing market prior to the financial crisis of 2008, recently expressed
his bullish outlook for the gold price.
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