Koos Jansen
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Koos Jansen
Posted on 22 Dec 2014 by

More Confirmation Germany Continues To Repatriate Gold

In addition to a post I wrote earlier about the Bundesbank continuing to repatriate gold from the US and France, in contrast to a misleading article from Bloomberg suggesting the program was canceled, I present an email I just got in from Peter Boehringer, founder of Repatriate Our Gold in Germany:

Dear E-Mail partners: A quick info in English because I know there are many people
around the world waiting for gold repatriation news from Deutsche Bundesbank (BuBa) in 2014. I always said BuBa would continue their repatriations in Germany despite many
official and unofficial news outlets claiming the opposite.

We still have no quantitative news – but this came in 8am CET today (45 mins ago).
See here for original German language interview text of BuBa´s “gold exec” Mr Thiele.
*) My translation of the text below. Followed by my short comment.

“Bundesbank has delivered gold to Germany according to plan Also in 2014, Deutsche Bundesbank has brought gold from foreign storage sites to Frankfurt. ‘We are within our plan with our delivery of gold from the Fed and the Banque de France.’. BuBa-executive Carl-Ludwig Thiele told the German Press
Agency dpa in Frankfurt.”

Boehringer comment:

  • This is really all there is, all we have right now. I would personally call it “non-news” as usual in that Mr Thiele does not give out ANY new info which we did not have before. With the possible exception that Bundesbank now officially says what I said all along throughout the year: The gold repatriation is continuing – albeit not transparent and probably way too slow but with a rate larger than 0 tonnes in 2014…
  • We still do not know exact numbers.Thiele does not seem to have given out tonnages for 2014 (in the press release we only have 2013 numbers which had been known since Dec 2013).
  • Every number below 70-100 tonnes would be shamefully little – and therefore this is exactly the range I am expecting in the final announcement with numbers (due early 2015).

So it is business as usual with Bundesbank. Too slow, too little, not transparent: this
holds true both for its information policy on gold and for its repatriation efforts! The fight for repatriation and for receiving more info from BuBa will have to continue. And since BuBa is stalling and our institutions are not helping – we the owners of the gold will have to do the work on our own. To be continued (in 2015)… Happy Christmas to everybody!

*) 22.12.2014 08:00 Bundesbank bei Gold-Verlagerung im Plan Die Deutsche Bundesbank hat auch 2014 tonnenweise Gold aus ausländischen Lagerstätten nach Frankfurt gebracht. “Mit der Goldverlagerung von der Fed in New York und der Banque de France in Paris liegt die Bundesbank voll im Zeitplan”, sagte Bundesbank-Vorstand CarlLudwig Thiele der Deutschen Presse-Agentur in Frankfurt. Die Notenbank will bis 2020 mehr als die Hälfte ihrer zuletzt 3387 Tonnen in heimischen Tresoren lagern. Dafür sollen 674 Tonnen des Edelmetalls aus Paris und New York nach Frankfurt gebracht werden. Zum Start der Aktion holte die Bundesbank 2013 fünf Tonnen aus New York und 32 Tonnen aus Paris.

Koos Jansen
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  • http://www.bullionbaron.com/ Bullion Baron

    I look forward to the non-publication of such updates by the likes of Zero Hedge and Dave Kranzler who’ve succumbed to conspiracy theories that the repatriation has stopped or that the NY Fed no longer has Germany’s Gold as it’s been leased, shipped east, rehypothecated or beamed up by alien spacecraft. If they do cover the update it will only be to ridicule the suggestion that the Gold is really there and being delivered on schedule.

    Thanks for your sensible coverage of official sector Gold activity Koos, it’s most welcome.

    • KoosJansen

      Thanks BB. Always trying to get the truth out.

    • DameEdnasPossum

      You’re rather an excitable fellow aren’t you?

      Apart for the 5 tonnes delivered from the Fed to Frankfurt in 2013 – and not in it’s original form – there is no other evidence of bullion being delivered from the Fed to Frankfurt. NONE. ZERO. ZILCH. ZIP. SWEET FA.

      By Koos’ own admission this is a ‘non-news’ story, yet you see it as fair game to launch into an attack at Zerohedge – one of the only credible sources of independent journalism on all things economic/ geo-political.

      Perhaps though you claims are legitimate…so, on that basis, perhaps you’d be so good as to share a link to the ZH story about bullion being ‘beamed up by alien spacecraft’ or did you just toke on a few too many cones of those famous Adelaide bush-buds?

      • http://www.bullionbaron.com/ Bullion Baron

        The 5 tonnes delivered in 2013 was in original form. Fact.

        “Prior to transportation, the original gold bars were handed over to us
        in New York. Our internal audit team checked the numbers of the bars
        there and then against its own lists. The very same gold arrived at the
        European gold smelters that we had commissioned.”

        http://www.bundesbank.de/Redaktion/EN/Interviews/2014_02_19_thiele_handelsblatt.html

        The claim of non-news is by Peter Boehringer (not Koos) who wrote the majority of the above email posted in article form. He also says the gold repatriation is continuing, you are right though, that’s not news to those of us who’ve been watching closely and agree that’s the case.

        There is record of Gold leaving the FRBNY vaults throughout 2014, it’s very likely some of this is Germany’s Gold. We can’t yet attribute an amount (as some will have been for the Netherlands), but given that Bundesbank has continued to advise in interviews & contact throughout the year that they are on track for their schedule, I would consider that evidence enough that more has reached their soil by now.

        https://www.bullionstar.com/blog/koos-jansen/german-gold-repatriation-accelerating/

        Clearly the aliens reference was a joke.

        The quality of ZH’s “journalism” varies greatly between articles (they have some good stuff too), not really a surprise given the amount of content they pump out. I’m a daily reader, but remain as skeptical of their pieces as I do of any I read as they very often make mistakes or just interpret events in a way that’s designed to make a headline or drive their narrative, rather than reveal the truth.

        See:

        http://goldchat.blogspot.com.au/2014/12/zh-fail-on-soc-gen-fail-on-russia.html

        http://screwtapefiles.blogspot.com.au/2012/01/is-someone-paying-zero-hedge-to-post.html

        http://www.bullionbaron.com/2014/06/krieger-zh-wrong-on-german-gold.html

        • KoosJansen

          It can be ZH fell for the Bloomberg story and now they don’t like to rectify.

          • DameEdnasPossum

            C’mon Koos…ZH reported the story published by Bloomberg (a once credible news source before the current age of outrageous misinformation, propaganda and manipulation). Very soon after ZH righted any wrong and called-out Bloomberg for their nonsense…
            http://www.zerohedge.com/news/2014-06-23/head-german-gold-repatriation-initiative-responds-bloomberg-story-about-repatriation

            Just as ZH also quickly debunked SocGen’s recent nonsense about Russia selling gold…
            http://www.zerohedge.com/news/2014-12-19/russia-busts-gold-selling-rumors-reports-it-bought-another-600000-ounces-taking-gold

            Noting also that the follow-up article came some 15 hours after the original ZH article that was clearly very sceptical about SocGen’s highly dubious claims – newsworthy in its own right in illustrating the agents of lies and deceit contributing towards the manipulation of precious metals…alongside just about everything else these days.

          • KoosJansen

            Link? The last posts I’ve read from ZH re German repatriation were hinting nothing is returning from NY.

            The moment the Dutch published their repatriation ZH reported everything that came out of the FRBNY this year went to Holland.

          • DameEdnasPossum

            Other than a highly token gesture, there is an absence of evidence that Germany’s bullion reserves are being transferred from NYFR to Frankfurt.

            There is much credible evidence around large-scale bullion manipulation and global money wars that leaves a rational thinker to wonder what the hell is going on.

            This isn’t to say the bullion isn’t heading to Germany the way it seems to have rather easily have occurred for the Netherlands…but the burden of proof rests upon those claiming the hypothesis.

            I would simply like to see hard evidence. Until then I will remain sceptical…and highly so given the many contributing circumstances.

            Cynicism, not trust, is an important survival mechanism.

          • doma

            If the original german gold still exists at the Fed & if
            germany really wanted it’s 300 tons back,there is NO
            reason that it would take a biblical 7 years.Thousands
            & thousands of tons of gold is shipped around the world
            each & every year…there is no reason that 300 tons if
            it existed could not be returned over 1 year.The West
            delivers 1000 tons to India alone every year,
            So either the germans don’t really want it back,or
            the original gold if it ever existed at all,no longer exists.
            Trusting the words of a central banker?

        • DameEdnasPossum

          “The 5 tonnes delivered in 2013 was in original form. Fact.”

          Really?

          Ha ha…lol…yeah right…because the banker said so! Some evidence would be nice, rather than the dismissive word of a central banker who clearly takes great offence at even having to answer the questions asked on behalf of the public owners of said bullion reserves.

          Got some audit records? Some photos? Something? Anything at all? Or are you relying upon this single interview to validate so-called FACT.

          In fact they wete so satisfied…with their 5 tonnes of 300 tonnes…that they re-smelted the bars. Not exactly inspiring the legitimately sceptical public with confidence.

          • http://www.bullionbaron.com/ Bullion Baron

            Evidence that is acceptable by who? If testimony by expert witness (those who are receiving the Gold) doesn’t convince you then I’m not sure what else I can provide. How do you know the 5 tonnes was even delivered? Did you see photos of that? Photos can be doctored. I can only presume that based on your agreement that 5 tonnes was delivered that you were physically there to observe the Gold being removed, transported, re-smelted and delivered?

          • DameEdnasPossum

            Testimony? Evasively and begrudgingly answering several challenging questions from a tinfoil hat wearing journo = testimony!!! Hardly.

            Ok…if you say so…the gold isn’t being delivered…that’s my line of argument and contrary to what you breathlessly claim.

            Noting however that the German gold transferred from Paris and NY has been shown in the official published inventories for the BB.

            So…you do not intend to produce any evidence to support your claims?

            And yet you breathlessly mock and criticise Zerohedge, throwing rocks from the shadows! And on the basis of…’non-news’.

            It will be interesting to see what the BB do release in the coming weeks w.r.t. 2014 repatriation.

            In the mean time, let’s not jump to conclusions…and let’s also not take cheap shots at Zerohedge and other very useful sources of information. In doing so, who knows…maybe more people will be endeared towards looking at your own website.

          • http://www.bullionbaron.com/ Bullion Baron

            The evidence will come out in due course. I won’t hold my breath for your apology when the time comes.

            If it’s all the same to you I’d rather not have readers looking at my site who take the likes of every article Zero Hedge at face value without question. I’d rather have those who are just as willing to find the (logical) faults and flaws in my own writing and point it out.

            It’s healthy to be skeptical, especially when reading the articles of those who make a living from it.

          • DameEdnasPossum

            Apology? What…for pointing out that your speculation is speculation?

            Whether you are proven right or wrong is meaningless as all you are curently doing is guessing. You have not provided any evidence to support your assertions. Do you gleefully applaud your own intelligence upon correctly select black or red on a roulette wheel?

            And who ever said that everything on ZH should be taken at face value and without question? I certainly never did. Much of the material on ZH is laughable…and intentionally so. Sarcasm and cyncism are useful attributes when confronting so called ‘authorities.’

            I’ve recently looked at your site. No complaints, some (much) of it is good. Thank you for that. But please don’t confuse this with your fairly acute case of ‘ZH envy.’ But not to worry, I am sure that with professional therapy and some good topical lotion you may, with time, overcome this affliction. Please note however that your writing reeks of conscious effort to score kudos and street cred.

            Oh yeah…and “you’re welcome” for so willingly accepting my pointing out the logical flaws and faults in your writing. Acceptance of constructive criticism is the mark of a good writer. I’ll be sure and to keep an eye open and provide you with further assistance as and when the opportunity arises.

          • http://www.bullionbaron.com/ Bullion Baron

            It’s not guessing or speculation. The country repatriating the Gold has told us they are receiving the Gold, that’s called “from the horses mouth”.

          • DameEdnasPossum

            Ha ha…ok…ok. You got me. Irrefutable evidence: a country told you…or was it a horse? Case closed.

            Just as a ‘dog returneth to it’s vomit’ (David Colum) here you are back at the beginning again.

            Now go and hang your stocking…Santa will be visiting you shortly.

  • DameEdnasPossum

    Thanks for bringing this too our attention Koos.

    It will be good to see some substance behind this once some facts are made available.

    • Ronald West

      Damn! I missed the fight. Here’s what I think is the more menacing scenario. Pretend that I am a bug on the wall at the NY Fed when Germany visited to announce that they wanted “some” of their gold back. They only wanted 300 tons out of, I think, over 1500 tons. The Yanks have been dreading this day since the first time they fraudulently laid hands on gold held by them for other countries, in trust.

      G = Germans P = Pirates

      G: Ve vant 300 tons of our goldt back

      P: Whah on earth would you want your gold back? (Thick Texas accent)

      G: So ve can increase our reserves and make our currency more trustworthy and get the goldt back where it belongs.

      P: Well, just save yourselves the hassle of handling all that gold Son. We’ll give you some US Treasury Bonds that are backed by the full faith and credit of the United States government instead. They are better than gold.

      G: Vell, that’s vhy ve vant our gold back because ve don’t think that your paper money is vorth much. Ve vould prefer to take our goldt, if you don’t mind.

      P: Well Son, Ah’m afraid ah cain’t let you take any gold from our vaults, not today.

      G: Vhy not? Ve just presented the receipt that you friendly Americans gave us in 1945 vhen you took our goldt back to New York for safekeeping. Are you now telling us that you have misappropriated our goldt and fraudulently converted it to your own use?

      P: No Son, Ah’m just telling you that you cain’t have it today.

      G: Oh good. I’m glad ve cleared that up. Vhen can ve get it then?

      P: Well Son, Ah don’t have the authority to make that decision. We’ll get back to you on that. Don’t y’all be calling us now, ya hear? We’ll call you.

      G: Frankly Sir, Ve don’t think you have our goldt. Ve don’t think you have any goldt. Ve vould like to see it at least.

      P: Ah don’t think you are listenin’ to me Boah. You cain’t have the gold and you cain’t see it. Now get out of here or I’ll release the hownds and you will be charged for trespassing on a federal facility and sent to Guantanamo Bay for torturing. D’y’all hear me?

      G: So you are denying us access to our goldt then?

      P: At the Present tahm Son, Yeeess we are. For security, ya know.

      G: We need to talk to Mr. Obumma. This is outrageous!

      P: Ah’ll see what ah can do.

      Later in the Oval Office….

      O = Obumma

      G: Herr President. Ve vant our gold back at vunce. Zis arrogant guard vill not even let us see our goldt.

      O: Well, what makes you so special? I haven’t even seen it. I don’t think anybody has seen it for 60 years, oh wait… I think they let United Artists and James Bond in there in 1963 to film Goldfinger but that’s the last time I saw any gold there. (whispering) I think we spent it all Sir.

      G: Are you telling me you don’t have our goldt any more.

      O: Well, I can’t say for sure but the gold hasn’t been audited for 60 years and they won’t even let me in. I think it’s all gone Sir but don’t you worry, we’ll be happy to settle up with cash. Hell, with all these wars we’ve had to fight over the years to make everyone keep giving us their oil and manufactured goods and food and electronic toys, and well… Hell, if we didn’t keep attacking other countries to divert their attention away from accepting our worthless money, we would have gone tits up years ago.

      G: Zis is an outrage! Ve don’t vant your worthless colored pieces of paper. Ve vant our goldt back. All of it!

      O: Okay, I understand that you’re upset but yelling at me is not going to change the fact that it’s gone.

      G: Do you realize vhut you haff done? Vhen ziz news gets out, every vun vill vant their gold back and the Great United States is finished! Vashed up, as you Americans would say.

      O: Well, you are going to say absolutely nothing, Herr Chancellor. In fact, you are going to tell the press that you have decided to wait 7 years for your gold and are perfectly happy to wait, is that clear?

      G: Und vhy vould ve tell a lie to the press.

      O: It’s simple Mr. Chancellor. First of all, if you don’t, we will declare your country an enemy combatant and launch a coup on your country from our many military bases that are in or near your country. I knew those many foreign bases would come in handy some day.

      But you need to understand the big picture and act for the greater good here, Mr. Chancellor, that would be the desired outcome here. You see, If news gets out that we have no gold left and that the world is basically giving us their goods for free, in exchange for worthless paper that is really cheap to print up and backed by nothing in the vault, I’m sure you would agree that the US dollar would be finished but even worse, the United States would be finished, and we can’t let that happen.

      And there would be people pissed at us for fraudulently converting their wealth into US dollar reserves that every country holds, and they would probably start wars with us and it would bring down the entire global financial system, and well, we just can’t let you leave here until you promise that you’re going to keep your mouths shut, and you have to convince us that you will keep this Hush-Hush! Kapish?

      To help you do the right thing on this matter, let me show you something. Our agents have kidnapped your families and they are safe, for now. (Obumma’s Chief of Staff turns on a monitor to reveal two families huddled together in a cell).

      G: You Pirates haff gone too far zis time!

      O: Perhaps but nobody needs to get hurt. It all depends on you. I just need to count on you to do the right thing. You know it’s the only solution. Not just for your families but for Germany and the rest of the world.

      Knowing that they have no other choice, the Germans reluctantly agree to keep their mouths shut and preserve the status quo and they get a few skids of worthless US dollars.

      O: And eventually, we will give you your gold back but we need to keep this quiet. I suggest you take the cash and just buy the gold back on the market.

      G: You know the market vould not be able to supply that much physical goldt Herr President. The price will skyrocket. Ve think you gave all the goldt to China and Russia. Vhut the Hell is wrong vith you Americans. Are you completely Mad?

      O: No, I think we are just really smart. We have pretty much taken over the world and have made it impossible for the world to do anything about it. We used much of that gold to buy weapons of mass destruction. And you people were worried about our manufactured terrorists. Ha. We are the terrorists and we have all the weapons.
      We have transferred the world’s wealth into our crony pockets and now have the world accepting our paper money that we can print at will and (laughing sinisterly) we have nothing in the vault. Pretty good, huh?

      Following which, the parties to the new US/German gold repatriation agreement say their good byes and the Germans go back to their families and say Nothing because they know that the whole game is up if they upset the apple cart, and the world financial system sails on it’s merry way to the reef and will be shipwrecked eventually.

      Meanwhile the real war criminals have fraudulently converted much of the worlds’ real wealth to their own personal use. So, either the US has manipulated gold down, to create massive paper wealth for themselves, or they have converted the world’s wealth into gold, and maybe Fort Knox is full of gold, instead of the other way around because these people are professional deceivers, so it’s hard to figure out what they are really up to. Whatever they are up to, or however they are accomplishing it, there is a lot of egregiously immoral deception and there are a lot of victims (countries and individuals). However it ends up culminating for these crooked cronies, you know it will be bad for all of us, unless of course, we grab some of that gold that’s still left.

      I think the Germans went home with skids of paper US cash and agreed to keep their mouths shut and even to continue to help the US deceive the press to divert the gold bugs’ attention, and to very slowly buy their gold back on the market, so as not to disturb the market price.
      This is all conjecture on my part, of course but it makes for a good story. I have no evidence but it’s the only logical way I see this playing out, otherwise, why haven’t the Germans expressed their outrage to the world. They are not acting in a manner befitting the circumstances, whereby they have essentially been pirated and mugged for over 1500 tons of gold by the so-called full faith and credit of the United States.
      Bill Gross, the Bond King had this to say when referring to this as the Fort Knox Fairy Tale,
      “$54 Trillion dollars in credit in the US financial system based upon trusting a central bank with nothing in the vault to back it up. Amazing!”

      • DameEdnasPossum

        Ron…very plausible. Scary, but also very plausible.

        The Federal Reserve Notes (FRN) are backed by the most devastating force the human race has ever seen i.e. the US Department of Attack. In fact the relationship is symbiotic. And this is coupled with the outrageous hubris of the U.S. This seems to have accelerated since the 9/11 inside job.

        The FRN global reserve currency/ petro-dollar is the Ponzi scheme to end all Ponzi schemes. The US has had a free ride for decades.

        How it plays out will depend upon how the Russian-Sino (+other BRICS) alliance choose to act i.e. they hold the gold and therefore they will make the rules. This is a matter of ‘when’ not ‘if’.

        We saw Russia reduce its TB holdings by approx. 50B recently to rescue the Ruble with reserves of approx. 400B. I expect that China is running down it’s TBs -in part to support Russia as their source of resources – but will drop a large chunk of its holdings on the markets at the same time as announcing a gold/ resource backed currency with its partners.

        This will completely alter the current course of humanity by ending US hegemony, destroying the historical western power bases e.g. IMF, EU, fiat currencies, NATO etc. and reintroduce multi-polar geopolitics.

        The question is whether or not this can occur without a war that destroys life on Earth. Can you see the US just conceding defeat, acknowledging its failed criminality and walking away with its tail between its legs?

        We saw the British Empire initiate WW1 in an attempt to thwart the emerging strength of a unified Germany.

        • chris baus

          Interesting theory. Assuming that China wanted to dethrone the US dollar, how would they do that? The motive is obvious as the dollar is a great option to use for the US. The top superpower has its currency as the dominant also – this is a rule throughout history. China would have to rival the USA militarily and technologically.
          China has 5,000 continuos history behind, so they are wise and will not do anything stupid. So I do not think a war would happen but the gold as the weapon to move its currency above dollar? I guess the Wall Street would see it coming. Question is if they see better business with China or the USA. If they see the move as a better option the the US dollar would loos its place.

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