Koos Jansen
BullionStar Blogs
Koos Jansen
Posted on 21 Nov 2014 by

The Netherlands Has Repatriated 122.5t Gold From US

The Dutch central bank, De Nederlandsche Bank (DNB), has repatriated in utmost secret 122.5 tonnes of gold from the Federal Reserve Bank of New York (FRBNY) to its vaults in Amsterdam, The Netherlands, according to a press release from DNB published today (November 21).

DNB states it has changed allocation policy from 11 % in Amsterdam, 51 % at the FRBNY, 20 % in Canada and 18 % at the Bank Of England (BOE); to 31 % in Amsterdam, 31 % at the FRBNY, 20 % in Canada and 18 % at the BOE. According to the World Gold Council’s latest data DNB has 612.5 tonnes in official gold reserves.

The Netherlands Official Gold Reserves Allocation
Source: the WGC, DNB

Translation DNB press release:

DNB Adjusts Gold Reserves Allocation Policy

Press release, date November 21, 2014.

De Nederlandsche Bank has adjusted its allocation policy for its gold reserves. To achieve a more balanced distribution of gold over the various locations, DNB has shipped gold from the US to the Netherlands.

In the old situation 11% of the gold reserves were located in the Netherlands, 51% in the US, with the remainder in Canada (20%) and the UK (18%). The location distribution according to the revised policy is as follows: 31% in Amsterdam, 31% in New York, while the percentages for Ottawa and London with 20 and 18  % remain unchanged.

This adjustment of DNB joins other central banks that store a larger share of their gold reserves in their own country. Next to a more balanced distribution of the gold reserves over the different locations, this can also contribute to more trust towards the public.

The distribution of gold stocks over various locations is often subjected to change. For example, in the period after the Second World War until the early seventies DNB added a lot to its gold reserves - under Bretton Woods - especially in New York. Since then, more mutations occurred. The main reasons for this have been the gold sales over the past decades and the closure of the vaults of the Reserve Bank of Australia, which made DNB ship gold from Australia to the UK in 2000. 

A few weeks ago I heard a rumor that the Netherlands were repatriating some of their official gold reserves from the FRBNY. From one of my sources I even heard which security logistics company was shipping the metal, but I was kindly asked to not share this company’s name.

Last week I was approached by a financial journalist, Theo Besteman, from the biggest newspaper in The Netherlands, De Telegraaf. He asked me if I knew anything about the repatriation of Dutch gold from the FRBNY as he heard from several sources DNB was following the German central bank in repatriating gold (for the ones that are under the assumption Germany has ceased its repatriation program, please read this). I told him I heard some rumors about it and that the source was one of the big security logistics companies. He wanted to know which one, but I couldn’t tell him that. Apparently the rumors were true and Besteman did a good job finding out what was happening. The front page of De Telegraaf today: Tonnes back from the US, Gold Shipped In Secret.

Screen Shot 2014-11-21 at 9.17.12 AM

De Telegraaf reports that for years there have been doubts at the DNB if the Dutch gold was still in New York. After a very secret and almost military operation DNB has shipped gold from Manhattan to Amsterdam, to bring about a more balanced allocation of its gold reserves and give the Dutch citizens more confidence by storing the gold on own soil to guide the country, if necessary, through a following major crisis. In the previous weeks many armored trucks were seen at the DNB in Amsterdam. Quote from De Telegraaf:

It is no longer wise to keep half of our gold in one part of the world,” said a DNB spokesman on the massive operation of shipping gold bars to Amsterdam. “Maybe that was desirable during the Cold War, not now.”

Global Consequences

The impact of the Dutch gold repatriation can be huge. First of all, because it underlines more and more countries are getting nervous about their gold reserves stored in the US. Venezuela repatriated most of its reserves from abroad in 2012, the year Germany also announced a repatriation schedule from the US and France. While Germany settled with the US to ship 300 tonnes spread over 8 years, the Dutch set a new trend to insist on immediate delivery. If more counties will follow this trend there can be a global run on gold.

Recently the Swiss people also got nervous about the Swiss National Bank (SNB) its gold policy and asked for a referendum to store all of the official gold reserves on Swiss soil. The Swiss referendum is held on November 30 and will most likely be influenced by the repatriation of The Netherlands.

De Nederlandsche Bank 2

Koos Jansen
E-mail Koos Jansen on:

  • Kirill Klip

    Great findings, Koos!

    It looks like nobody like to hold Gold IOU any more …

    Eric Sprott: Global Gold Demand Is Overwhelming Supply.

    http://kirillklip.blogspot.co.uk/2014/11/eric-sprott-global-gold-demand-is.html#

  • http://www.tuks.nl/ Arend Lammertink

    In addition to this: this week it also came out that the Dutch government has been taking preparations for returning to the guilder, and closely cooperated with Germany about this as well. Reuters did report on this, as did EU Observer:

    http://www.bloomberg.com/news/2014-11-18/dutch-had-back-up-plan-to-reintroduce-guilder-dijsselbloem-says.html

    http://euobserver.com/news/126605

    Beside Reuters and EUObserver, I can’t find hardly any coverage on this outside The Netherlands, except for one article in German, which appears to be based on the NRC article below:

    http://diepresse.com/home/politik/eu/4599427/Den-Haag-erwog-Ruckkehr-zu-Gulden?_vl_backlink=/home/index.do

    In The Netherlands, this was widely reported by many main stream newspapers as well as the national radio news bulletins. Like for example the NRC:

    http://www.nrc.nl/nieuws/2014/11/18/regering-had-in-2012-scenario-klaarliggen-voor-terugkeer-naar-gulden/

    The source of this story is an interview with former Finance Minister Jan-Kees De Jager in a TV program:

    http://omroep.human.nl/medialogica/2014/de-eurocrisis-en-de-beeldvorming.html

    A translation of the NRC article, which contains quite a lot more detail than the Reuters coverage, especially with regards to Germany being involved:

    -:-

    “Government had scenario ready for return to guilder”

    by Eva de Valk.

    INTERIOR During the height of the euro crisis in 2012, the Dutch government prepared a scenario to bring back the guilder as the Dutch currency.

    This is reported by the TV program Argos Medialogica from the public broadcasters Human and VPRO, based on their own research. A special multidisciplinary team of, amongst others lawyers, foreign specialists and economists, discussed the secret emergency scenarios at the Ministry of Finance, according to a press release from Argos Medialogica. For the worst case a scenario ‘Florin’ was ready: a return to the guilder if the euro would fall.

    The television program bases its findings on anonymous sources around the Ministry of Finance. A spokesman for the ministry conforms nor denies the existence of the ‘Florin’ scenario to Argos Medialogica. “We took every possibility into account, but aimed for a recovery of the euro,” the spokesman said.

    UPDATE 14:36: Minister of Finance Jeroen Dijsselbloem confirms to RTLZ that the government has indeed prepared for a return to the guilder at the height of the euro crisis. According to Dijsselbloem it was not possible to speak openly about this at the time, because it could cause panic on the financial markets. “So you prepare yourself, but you do not make it known. Very wise. ”

    DE JAGER: NETHERLANDS COLLABORATED WITH GERMANY

    Former Minister Jan Kees de Jager confirms that different scenarios were investigated. De Jager to Argos Medialogica:

    “The team usually arrived at Friday afternoon after the regular cabinet meeting at the Ministry of Finance, but could also be quickly available if we had to make a decision.”

    According to De Jager there was close cooperation with Germany regarding the preparation of scenarios:

    “The fact that several scenarios were discussed in Europe was very scary already to some countries. They did not do that, remarkably. We were one of the few countries, along with Germany. We even also had a team together which discussed scenarios, Germany-The Netherlands.”

    Also, De Nederlandsche Bank (DNB) thought about returning to the guilder in 2012. In March of this year, President Klaas Knot said in the TV program College Tour: “There have been times then when when we started thinking about such scenarios within the bank and started making preparations. I never want to end up in that again.”

    The episode about the financial crisis of Argos Medialogica is broadcasted tonight at 23:00 on NPO 2. Watch the trailer:

    -:-

    Very interesting detail from the Bloomberg coverage:

    “When asked about Germany, Dijsselbloem said he couldn’t say whether that country’s government had made similar preparations.”

    Apparantly Dijsselbloem forgot to consult De Jager about this….

    It is remarkable that this data all comes out just a week before the Swiss referendum, including the statement of the Luxembourg ECB board member that the ECB should consider buying gold. Jim Willie has said a long time that Germany will sooner or later switch over to the Sino-Russian camp, because of their dependence on Russian gas and oil. And of course they remember very well what happened during the Weimar period and they are certainly not amused about the US spying on them.

    So, now we have confirmation that Germany and The Netherlands have been preparing for the return of guilder / deutschmark AND both countries have been repatriating gold.

    Of course, if there was close cooperation between Germany and The Netherlands in 2012, it is not far fetched to assume a “Nordic Euro” scenario, which might include Finland and Austria, was also on the table. Given that Russia and China are actively hoarding gold, one gets the impression that the current “worst case” scenario would include a (partially) gold backed “Nordic Euro” and/or and extended “BRICS currency” scenario. Given the Swiss plan to back their currency with 20% gold, this might also be a good indicator for what The Netherlands and Germany and possibly the BRICS are aiming for in the near future. After all, these kinds of numbers are chosen after careful considerations and consultations.

    This is sure getting more interesting by the hour. :)

    • KoosJansen
      • http://www.tuks.nl/ Arend Lammertink

        And before that:

        http://en.wikipedia.org/wiki/Betuweroute

        “The Betuweroute is a double trackfreight railway from Rotterdam to Germany. […]It is among the most costly and most controversial large scale government projects ever constructed in the country. […] The route is a direct line from the Maasvlakte to Zevenaar, connecting the Europoort to Germany.”

        http://en.wikipedia.org/wiki/Eurasian_Land_Bridge

        “In 2011, a direct container rail service began carrying car parts 11,000 km from Leipzig, Germany, to inland Shenyang, China, through Siberia in 23 days, every day. In 2013 a direct container, pallet, and general cargo rail service began, 10,000 km from Łódź, Poland, to inland Chengdu, China, through Siberia in 14 days, 3 days in week.”

        Note the “through Siberia”…

        Seems to me both Germany and The Netherlands are well connected to Russia and China over land by train these days.

  • rowingboat

    “Next to a more balanced distribution of the gold reserves over the different locations, this can also contribute to more trust towards the public.”

    Koos, has there been public pressure put on the DNB to repatriate gold in the Netherlands, or rather has this move come out of the blue from internal concerns within the DNB itself, in your opinion?

    • KoosJansen

      Some public pressure, but very little. This was DNB’s idea IMO.

  • Guy Christopher

    This is red hot! Thanks, Koos Jansen! Will be interesting to see how all markets react. Cannot believe any nation has any faith in the Fed Reserve’s promises at this point, So. how did the Dutch manage to retrieve so much more from 33 Liberty Street than the Germans, who were turned away at the door when they went to view their own gold, then handed a paltry 5 tonnes? Perhaps the Dutch understand a little more about gold and power than does Frau Merkel.
    https://www.moneymetals.com/news/2014/11/19/the-secret-advantage-you-have-with-gold-and-silver-000632

    • http://www.tuks.nl/ Arend Lammertink

      That’s an interesting question, which might have something to do with the close relationships between the Dutch (Royal Family) and what Eisenhower called “the military industrial complex”. The Dutch Airforce has a long tradition of flying US built fighter planes. In the past, it was a good custom that the US (companies) involved would show their appreciation to their “ambassadors” such as Prince Bernhard:

      http://en.wikipedia.org/wiki/Lockheed_bribery_scandals#Netherlands

      Today, the Netherlands is still a customer of the latest toys coming from the US:

      http://en.wikipedia.org/wiki/Joint_Strike_Fighter_program

      Germany, on the other hand, is not:

      http://en.wikipedia.org/wiki/Eurofighter_Typhoon

      “German Air Force – 143 ordered, of which 112 have been delivered as of December 2013.”

      Besides being a good customer, Dutch companies are also involved with the JSF program itself, such as DapTechnology:

      http://www.daptechnology.com/index.php?id=489

      “DapTechnology, a world-leading supplier of advanced IEEE 1394 protocol analyzers & interface solutions to the aerospace, defense, industrial, automotive and consumer electronics markets announced today that Fort Worth, TX-based Lockheed Martin Aeronautics Company has selected the new DapTechnology FireTrac 1394b Test & Simulation Platform for a rearchitectured real-time data recording & simulation solution. The FireTrac IEEE 1394b Test & Simulation Platform is used as the key component for the Mission Systems new 1394RMS platform, i.e. a real-time 1394 Receive Message System in the F-35 Lightning II (Joint Strike Fighter) program. With its all-new architecture and ground up support for the AS5643 protocol, the FireTrac’s innovative hardware, firmware and software platform forms a winning technical solution for building a sophisticated system like the 1394RMS.”

      I don’t think you would want to piss off a country which produces “the key component for the Mission Systems” of your fighter planes….

  • ding

    Did they check that its not tungsten covered with gold coat like Fed gave to China sometime back?

  • photontail

    I like action! This is exciting on multiple fronts – a smaller Western country successfully getting some gold back, shining a blindingly bright light on their German neighbours, for the rest of the world as well, a diligent independent stepping up to report this worldwide professionally (Jansen), as well as a journalist actually doing his job (Besteman)!

    That some Euro countries are taking steps preparing their own currencies again, is very inspiring too!

    I wonder if they by any chance got back the same bars, or the same coin melt variety…

    • KoosJansen

      FRBNY policy is you get back the same bars.

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

      As per comments from Bundesbank, the Gold they are repatriating has never been in Germany (may be same for Netherlands as their large buildup in Gold reserves occurred over 50s-60s). So they are not ‘getting back’ the same bars, but they are getting the bars as has always been specified by the Fed.

      • KoosJansen

        That would be the best way of saying it.

      • KoosJansen

        That would be the best way of saying it.

      • KoosJansen

        That would be the best way of saying it.

  • Bill Rice

    I’m inclined to believe this report, however do we have any real proof that gold once in vaults in NYC is now in Dutch vaults? Could not officials simply SAY gold has successfully been repatriated? Such a ruse/potential lie would benefit Netherlands and U.S. officials would it not? The Dutch could tell their people, “rest easy, our gold is being returned to our borders.” American officials could trumpet, “See we DO have the gold we said we did and return it promptly when requested.” As no trustworthy independent audits are ever performed, authorities can really say whatever they want about gold inventories. Again, I believe the gold probably was returned, but someone needs to at least express the possibility that what the public has been told transpired might not be the truth. I guess I should live in Missouri, The “Show Me” State. Also, I always liked Reagan’s “trust but verify” mantra. In the gold world, I see nil efforts to “verify” anything. Transparency for City Council members, but certainly not for central bankers and custodians of “the peoples'” gold.

    • http://www.tuks.nl/ Arend Lammertink

      That’s an interesting point, indeed. However, The Netherlands are next to Germany and not that far from Switzerland, either. This story is surely going to stir up the fire in Germany, where people and politicians will ask why the German gold has not been returned, while the Dutch gold has. And of course the other side of the “See? It’s there!” coin for the Swiss “No” camp is that the “Yes” camp can now argue that it’s not such a bad idea to move a lot of gold home, since that’s what the Dutch as well as the Germans also did (Germany did repatriate quite some tonnage from London previously, IIRC).

      Given the story about the Dutch government taking preparations for getting out of the Euro, together with Germany, which also came out this week (see my comment above), I think the gold is probably there. However, it might not have come from New York, but from London:

      http://investmentresearchdynamics.com/was-gld-gold-moved-to-the-dutch-central-bank/

      The coming reports from the FED should give more clarity.

      One thing is clear, though: something is brewing under the surface. :)

      • KoosJansen

        I think Kranzler’s analysis misses a lot of proof. Didn’t he say GLD was empty at some point?

        Additionally, why didn’t the Buba get GLD gold?

        • http://www.tuks.nl/ Arend Lammertink

          This is very puzzling, indeed.

          All right, what do we have?

          *) The Netherlands and Germany took preparations for leaving the Euro and come up with some plan B, possibly a (partially goldbacked?) “Nordic Euro”, possibly also including Finland and Austria.

          *) The Netherlands likely really got their gold, given my comment above and your statement: “From one of my sources I even heard which security logistics company is shipping the metal.” If I had to make a guess, I would guess Brink’s, since that is also the company Miles Franklin uses in Canada for it’s offshore storage program.

          *) Germany already repatriated around 1000 tons of gold in 2000/2001:

          http://www.silverdoctors.com/classified-report-germany-withdrew-1000-tons-of-gold-from-london-in-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?”

          *) Turd Ferguson talked about some strange gold vault movements two weeks ago:

          http://www.tfmetalsreport.com/blog/6272/information-deemed-be-reliable

          “Since it is easily verifiable that JPM has only issued/delivered 6,000 ounces of gold over the past five months, the primary question becomes just whom or what owns the gold that has been temporarily parked in the JPM Comex vault. Just by chance, we were able to catch 33 metric tonnes of perfect and precise deposits, followed by nearly 46 metric tonnes of equally perfect and precise withdrawals. Why was this gold parked for a while in JPMs vault? Where did it come from? Where is it now headed? Is this JPM proprietary gold and do these withdrawals, when combined with the greatly reduced delivery activity, indicate the JPM is on the verge of exiting Comex gold trading?”

          It seems like we now have an answer to the question of who owned the gold in question. :)

          Note the following detail: “Why is JPM’s Comex gold vault down to just 662,000 ounces? This leaves it as just the 3rd-largest. It’s now dwarfed by Scotia and only 15% the size of HSBC.” – Scotia is a Canadian bank, if I’m not mistaken.

          *) There is a Swiss referendum coming up.

          *) Lots of things going on around Ukraine, including EU sanctions, likely in order to keep Washington happy, while hurting the EU Economy and Germany in particular, which does a lot of trade with Russia and is dependent on Russian oil and gas.

          So, we have strange round number movements of gold in and out of the Comex vaults, while apparantly some real gold ended up on European shores for a change. The paper movements could very well be what Jim Willie calls “gold in motion”, connecting the strange Comex movements to both Scotia and the GLD:

          http://www.silverdoctors.com/jim-willie-shanghai-shock-to-shatter-the-gold-market/

          “The GLD Fund has been systematically drained for the last five years, its inventory under 800 tons. Great debate stirs over the actual effective zero level being around 700 tons, since gold in motion from the mining firm output is counted in the fund (Jackass suspicion). […] An important indication of deeper corruption is evident in the Gold market. The once esteemed Scotia Mocatta has sold out. They have for the last year been providing their valuable bullion bank inventory of gold bars to the Wall Street hive. They are being drained effectively. The data is visible from the COMEX inventory movements, in a grand shuffle, often with Scotia the source. It is unclear why a respected august Canadian bank would sell their souls to the devil. Some deal was cut, which will not be entertained.

          To be sure, Wall Street is running out of deep source channels. They have been using their Langley alliance to steal gold, like in Libya (144 tons) and in Kiev (33 tons) and elsewhere, maybe soon in defenseless Chad. The big untold story is the USGovt thefts of Saudi gold in Swiss banks. The royals are being tossed under the bus, no longer useful, except for photo opps. Despite the extraordinary measures, even with wars and disruptions, Wall Street is running out of deep source channels.”

          Now let’s suppose The Netherlands and Germany work together with the BRICS and Switzerland behind the scenes on some kind of transition to a new monetary system, partially backed by gold. In that case, they would need to take down the Comex, but no one wants to be blamed for doing so.

          So, it’s up to the people of Switzerland to ignite the fire and thus the politicians can’t be blamed. Since Germany already took precautions over 10 years ago, they already have a significant amount of gold at home, which is no longer in London nor New York. Now because of the Rotterdam harbor, which supplies both Germany and Switzerland via the Rhein, both Germany and Switzerland have an interest in keeping on friendly terms with the Dutch and all three countries have a tradition of “sound money”.

          So, why not play a little chess game? First, Germany drips a toe in the water to see what happens and then The Netherlands secretly moves “gold in motion” to European shores, cooperating with Canada. Then, just in time, they blow the whistle on both the “Euro exit” plan as well as stirring up the Gold pit, while Luxembourg also adds it’s $0.02 by suggesting that the ECB should consider buying gold.

          The end result is that Germany, The Netherlands and Switzerland are ready to join the BRICS camp and save their economies, while the vaults in New York have been drained to the bottom.

          • Rhona Welsh

            I have a friend who rubs shoulders with German elite, he reckons that a North South Euro split is “not if, but when” matter?

  • alan goldspan

    “The examples of Venezuela and Netherlands show that scary rumours of ‘NYFRB gold all gone’ have been vastly exaggerated and indeed sovereign repatriation requests are fulfilled smoothly” — no single goldbug commenting on this news ;D

    • KoosJansen

      It can still be they don’t have ALL promises, perhaps that’s why DNB repatriated. If the gold is there, but there are 4 claims on it, you better get it out as soon as possible. Or if half is gone. Yes, just speculating.

      • Guy Christopher

        Or perhaps the 122 tons of gold is payoff to the Dutch for maintaining the secrecy of the investigaiton into the Ukraine shootdown , which only benefits the US. That’s all over the press in the Netherlands today. The Dutch and anyone else who lost relatives on that shootdown should be screaming bloody murder at the Dutch government today, and should be very wary of the US.

        • http://www.tuks.nl/ Arend Lammertink

          Good point!

          I think the Dutch and the Gemans closely work together, which has been stated by former Finance Minster Jan-Kees De Jager in a TV interview regarding EurExit preparations in 2012. He said they took preparations for returning to the guilder and even had a team working together with Germany.

          See my post starting with “In addition to this: this week it also came out that the Dutch government has been taking preparations for returning to the guilder” for all the details.

          This comes out just a week before the Swiss referendum. Of course, they know what happened in Ukraine, but they need to get the gold pit on fire before they can execute “plan B”, EurExit.

          So, they play lip-service to Washington as long as necessary, even going along with sanctions against Russia which hurt the European economy, meanwhile playing the Ukraine card to get as much gold out of the US to Europe as possible.

    • Cannonfodder2010

      The German repatriation didn’t exactly go smoothly, even for the measly 10% they asked for. Odd thing, the US can’t find Gernan’s 3,000 tons of gold, offers 300 and delivers 5 at the same time the Chinese seem to be able to find as much as 100 tons per month.

  • canuck07

    I’m a new to finances. If I’m understanding this correctly, why would a country store its gold in someone else’s country?

    • Guy Christopher

      During WWII, and then the cold war, the US stored gold for our Allies to keep it safe from invading armies, which would have been the Japanese and Germans in WWII, and then the USSR during the cold war. The problem became, however, that the banker (Fed Reserve) is now widely believed to be an embezzler (selling off gold in US possession – regardless of ownership) as per this or that secret international intrigue. There has been no credible audit of US gold since the 1950s, despite what the History Channel says. The 1970’s ‘audit’ was a walkthrough for the cameras and some politicians, known as a Hollywood audit, and took only an hour or so. A thorough, credible audit would take a team of at least 100 forensic auditors a year or more to accomplish. But such an audit is probably not going to happen, because Americans are largely politically ignorant, careless, fat, dumb and happy, which explains how the US Fed can get away with stealing everyone’s gold in the first place.

      Meanwhile, my remark about the History Channel, which treats the subject like a reality show, is indicative of the the entire US media, formerly known as America’s free press. It is either woefully ignorant or criminally complicit in protecting a growing, tyrannical government that is not answerable to its people. So, all bets are off that Americans could ever force an audit. History Channel switched from history to propaganda a long time ago.

      However, come the day that China and Russia or both decide to make gold a very big, international currency discussion, come the day that the question is on the table as to how much gold everybody’s got, China and Russia would be in a position to force the US to throw open Ft. Knox to a credible audit. China would invoke Ronald Reagan’s edict: Trust but verify. Any thorough reading of recent (last 3-4 years) gold news would convince anyone that Ft. Knox is empty or nearly empty. The day that becomes known publicly, the dollar is dead, fini. That’s why no audit, even though the US House a few years ago, let by Ron Paul, voted overwhelmingly to audit Ft. Knox. The Dem Senate refused to go along.

      The fact that Germany, Venezuela, the Dutch, Switzerland and other nations have ongoing gold repatriation discussions of one sort or another is solid evidence they do not trust the US, Those governments with their back-channel diplomacy would know better than we mortal simple people as to why they don’t trust the US. And the fact that they feel gold is important should tell you why you should think gold is important.
      https://www.moneymetals.com/news/2014/06/05/you-and-i-have-no-right-to-be-scared-000561

      • mark_BC

        Great response Guy. I just wanted to make a comment that you sound a lot like Bill Holter in your characterization of the different countries’ central banks acting autonomously in “competition” with one another. I’m not suggesting you are wrong but the one thing about this whole conspiracy that has left me wondering consistently the last 5 years is how independent the western central banks really are. I mean, if we on the internet are putting together the pieces about how the gold is gone, I think the various western central banks would have been in on the scam long before we figured it out. They can not only peruse the internet like we can, but they also have inside information. I find it very hard to believe that it is only in the last year or so that the various central banks have figured out that their gold may be in danger at the Fed and are as a result asking for it back. It seems like a PR stunt to me. The different central banks have no accountability to their citizens ,except maybe in Switzerland. The question remains: how independent are the central banks, and are western “countries” really countries at all?

        • Guy Christopher

          Thank you for the kind words. I would think it’s a very good bet that all nations have known the rules of gold for as long as they’ve been in business. And they’ve all been in on the manipulation scam. Heck, they wrote the rules to keep their paper money safe, so you can be sure they are all in on it…..but, they still take care of themselves first and foremost. I believe what has changed now is they are no longer afraid of the US Government, and are forming new alliances, and are telling the Fed to fork up their gold. They see the same things we see in the US and they understand nothing is working in the US. They don’t trust the US gov’t anymore than I do, or perhaps anymore than you do.

          If true, that would indicate strongly that they know stuff we don’t know and cannot know, which could include just how fragile the global economy really is, which is very scary. Why else twist the Fed’s arm?

          I read Bill Holter. Love the guy. I write for Money Metals dot com in the US. I have been involved with gold and silver all my life, long enough to know there’s a lot I don’t know about it.

          • mark_BC

            Guy, what do you think of this theory that a small group of very powerful families (usually identified as the Rothschilds) controls all the western central banks as one? I have heard some suggest that they moved into Russia after the breakup of the USSR and that Putin has been gradually kicking them out. As a result, our “leaders” are merely puppets to the central bank of central banks. And there is speculation if they have entered and corrupted China as well. I have a hard time believing that. But still, I wonder, in the opaque world of central banking, which countries are basically the same entity (North America, Japan and Europe?), and which countries are acting independently and in competition (Russia, China), or is it all one big One World Bank ss some are predicting. I don’t think they will be able to hold the world together into using one currency when things start to fall apart. You can only exert that kind of micromanaging control when people are generally satisfied and trustful. Once you lose that, then you lose control.

          • Guy Christopher

            Mark, I wouldn’t have any factual basis for saying there is a “Rothschild” type of ‘central banking boss,’ but there certainly is a lot of circumstantial evidence for such. First and foremost, the history of civilization is a constant struggle of tyranny against freedom, slaves fighting masters, followed by victorious slaves becoming masters and then fighting those they enslave. At no time and in no place have any of us ever been immune from the march of history, and there’s no reason to think any of us can watch this one play out from the cheap seats.

            The strategies and tactics used for centuries are certainly in play by those in charge of governments today, such as propaganda, militaristic posturing, economic and spiritual controls. Whether or not there is one single banking cabal today intent on impoverishing the world to enslave and enrich itself, we certainly can and must assume someone has that in his playbook somewhere, because we are seeing one helluva run-up up to exactly that. So, yeah, whether it’s called by one name or another, I’d say it’s right in front of us.

            The best bet for us peons is to remain vigilant and to be prepared as best we can. Each of us has been handed a role in history and whether we know it or not, or whether we know it and like it or not, or whether we just don’t want to think about it or not, each of us will play out our roles.

            I’ve had the same question you pose, wondering if some governments are basically the same entity while others are competitors, or are they all in it together at the same moment for the same ends. My guess at that is again based on history. Start with ten geographically separated tyrants who band together and try to conquer the known world : Roman Empire, Axis and Allies, East-West, G-20, Sino-Soviet, BRICS, choose your own example. It then wouldn’t be long before five of them take on the other five. Then two would take on the others and so on. The ultimate winner would then face the slaves left in the wake of all that turmoil. Rinse and repeat. And I don’t know where we are in the cycle. Let’s say we are in a 100 year cycle. How would we know this cycle didn’t start 99 years ago? The European colonists put up with a lot of crap long before sprouting a new American Spirit in 1776.

            The only good thing about being in the lowlife, dirt-scratching 99% is that we outnumber the bosses, and we always win. We always do, and we will win again. Until we become bosses. What do we have, 5,000, maybe even 10,000 years of recorded civilization? The frustration I believe we all feel is that it certainly has taken a long time for us to get this thing right.

            CC: NSA, FBI, CIA, CSI, CSI-Miami, MI-6, MGM, M&M, ATF, AT&T, A&P

          • KoosJansen

            These books may provide some information:

            – The Creature Of Jekyll Island (on the Fed and everything it created) http://www.amazon.com/The-Creature-Jekyll-Island-Federal/dp/0912986212

            – Tragedy And Hope (a rare peak inside the world of the elites) http://www.amazon.com/Tragedy-Hope-Carroll-Quigley-ebook/dp/B00MPQCSRU/ref=sr_1_2?s=books&ie=UTF8&qid=1416757055&sr=1-2&keywords=tragedy+and+hope

            – Tower of Basel: The Shadowy History of the Secret Bank that Runs the World http://www.amazon.com/Tower-Basel-Shadowy-History-Secret-ebook/dp/B00BKRW6GI/ref=sr_1_1?s=books&ie=UTF8&qid=1416757160&sr=1-1&keywords=the+tower+of+basel

          • https://tk6969.wordpress.com/wp-admin/post-new.php Tk69

            Murray Rothburg and mises is all you need. Most other books don’t know what they are talking about. Even more don’t understand banking.

          • photontail

            You are correct in your guess. A lot more info has been unearthed and spreading better now.

            The steering group is the Bilderberg Group. The two coordinating and driving bodies are the CFR (council of foreign relations) and the Trilateral Commission. Try these key words. The banking families are behind, one more level up and shielded.

            Country heads like Presidents are low level. Central bank heads are much higher connected but still answers to the powers behind.

    • rowingboat

      WW2, Bretton Woods, Cold War

      Foreign USFRB holdings have actually been falling for a long time, since the end of Bretton Woods.

      The chart on Page 4 shows foreign holdings falling from around 13,000 tonnes to 6,000 tonnes now.

      http://www.goldstandardinstitute.net/wp/wp-content/uploads/2014/11/TheGoldStandard47Nov14.pdf

    • SRVES339

      To enable the Fed to do a better job of “managing” the price of this “quaint” old relic of the past… that is not money, and is held only becuase of “tradition” according to Helicopter Ben… in reply to a Ron Paul congressional hearing question.

    • Sah
    • canuck07

      Thx everyone for their input. I appreciate it!

    • rowingboat

      As Bullion Baron points out below, German gold being “repatriated” has never been in Germany and it’s probably the same for Netherlands. The chart in the Gold Standard Institute link I posted, shows the scale of ownership transfer in the 1950/60’s at the USFRB:

      “In 1950 only 15% of the gold stored in the Fed was owned by foreign central banks – by the end of 1965, 48% of the gold was owned by foreigners. This reflected the change in the US towards deficits and the exchange of dollars for gold by nations running trade surpluses with the US.”

      Apart from the question of how the Netherlands was able to retrieve 122 tonnes so smoothly when everyone knows the USFRB vaults are empty following the 20 year bear market , is why now?

      Well it’s also just surfaced the German & Dutch governments had prepared plans to return to their national currencies at the height of the Euro crisis:

      http://euobserver.com/news/126605

    • Maribel

      So they can keep it linked with the U.S. dollar. Otherwise, they can’t!

    • https://tk6969.wordpress.com/wp-admin/post-new.php Tk69

      it’s a bun of nonsense since these governments are mercantile economies. They cannot exist upon a gold reserve if if they wanted to. They are collecting gold because they do not know what to do with their failing economies. They are bureaucrats trying to figure out what to do and to make themselves looking smart.

      IN a nut shell, the world governments inflated the currency to pay for W.W.1. They creating a boom (roaring 20’s) followed by a bust (great depression). Money always corrects. But instead of going back on the gold standard prior to WW1, the US tied the devastated Western European currencies to the US dollar, which was tied to gold. It was done by tricking the British who wanted a pure gold standard.

      In this way foreign governments would be forced to use US dollars instead of Gold. And this meant that they would need american goods paid with by American dollars which is good for the American economy. They have been inflating and exporting ever since. In 1971 nixon took the World of the gold standard by closing the Gold window for foreign nations. So now basically the banking system creates money out of thin air which and less it which creates a boom. When this money gets paid back, it gives rise to a bust. s money leaves the economy and back to banking reserves. But in order to keep the bust from happening even more money is created and lent on a ongoing bases. IT is why a “little inflation is always goods”.This is done though the fractional reserves.

      This is the secret of pro growth economies and the US dominance. Other countries print their money to take over resources and Export for US dollars which buys US goods and service. Consumer like this because it means cheaper prices. Business like this because it means lower costs. And government like this because they get an unlimited supply of new money to tax. But it is the poor that must pay for it. They are the ones that must go without goods and services. And over time the poor increase as wealth gets concentrated in fewer and fewer hands.

      IT is a great poverty maker.

  • KoosJansen

    From Jan-Sep the FRBNY lost 77 tonnes. The big question now is when did DNB start repatriating.

    If everything from Jan-Sep was heading for Holland, zie Germans got nothing. I can’t imagine that.

    We’ll have to wait for the FRBNY numbers from Oct en Nov to know when the Dutch gold was pulled, and then wait what BuBa states at year end how much they got. Again, I can’t imagine The Netherlands gets so much so fast, and Germany get’s nothing.

  • 1AdamBaum

    Nobody is taking into account the Global piracy going on unabated concerning the collapse of the US dollar when BRICS swings into play and the fiat Fed Reserve system implodes on the Western alliance Banking system. ie IMF & WorldBank…https://www.youtube.com/watch?v=TC3tINgWfQE

    Also: https://sites.google.com/site/nocancerfoundation/an-error-doesn-t-become-a-mistake-until-you-refuse-to-correct-it

  • mark_BC

    I have always wondered how much autonomy the different central banks really have or if it’s all more or less controlled by a single force. If so, these international games would be just another concocted opera designed to mislead the masses.

    • http://www.tuks.nl/ Arend Lammertink

      There was a very interesting study done in 2011, which shows that ownership of most of the world’s resources is in the hand of a handful of very large corporations, mostly banks:

      http://www.newscientist.com/article/mg21228354.500-revealed–the-capitalist-network-that-runs-the-world.html

      -:-
      The idea that a few bankers control a large chunk of the global economy might not seem like news to New York’s Occupy Wall Street movement and protesters elsewhere (see photo). But the study, by a trio of complex systems theorists at the Swiss Federal Institute of Technology in Zurich, is the first to go beyond ideology to empirically identify such a network of power. It combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world’s transnational corporations (TNCs).

      […]

      From Orbis 2007, a database listing 37 million companies and investors worldwide, they pulled out all 43,060 TNCs and the share ownerships linking them. Then they constructed a model of which companies controlled others through shareholding networks, coupled with each company’s operating revenues, to map the structure of economic power.

      The work, to be published in PLoS One, revealed a core of 1318 companies with interlocking ownerships (see image). Each of the 1318 had ties to two or more other companies, and on average they were connected to 20. What’s more, although they represented 20 per cent of global operating revenues, the 1318 appeared to collectively own through their shares the majority of the world’s large blue chip and manufacturing firms – the “real” economy – representing a further 60 per cent of global revenues.

      When the team further untangled the web of ownership, it found much of it tracked back to a “super-entity” of 147 even more tightly knit companies – all of their ownership was held by other members of the super-entity – that controlled 40 per cent of the total wealth in the network. “In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.
      -:-

      So, it’s not far fetched to conclude that essentially the system has been “controlled by a single force” for decades or even ages, which would suggest we are indeed looking at a “concocted opera to mislead the masses”.

      However, there is another possibility, which is that resistance has steadily been rising and that we are looking at the arrival of new Sheriffs in town. David Morgan addressed this very nicely in an interview this week on the DayTradeShow, referring to the BRICS:

      Like Morgan, I haven’t made up my mind completely yet and keep an open mind, but I see a lot of signs that things are changing and if I would have to make a guess right now, I would estimate there is about an 80% chance that we are indeed looking at the arrival of new Sheriffs in town, most notably Putin, who are well on their way of winning the war against the bankers and elitists, most notably the crooks running Wall Street and London inner City.

      Time will tell. :)

  • rbblum

    Wait until Russia and China challenge the US regarding gold in the vaults. Truth be told, the jig is up and the US is screwed.

  • http://www.tuks.nl/ Arend Lammertink

    In the end, it’s all a matter of trust. Do you trust the current system, the bankers and the politicians? Do you believe they actually work in your best interest by printing as much money as they like and can continue to do so forever without consequence, or do you believe fixing the problem of too much debt with even more debt cannot last and therefore will fail in the end?

    I believe the latter and therefore I believe sooner or later we will see a run on physical gold and silver, to such a degree that at some point you will not be able to buy gold or silver at *any* price.

    Perhaps you may want to think about following hypothetical question for yourself:

    Suppose you have won a rather awkward lottery, by which you can leave something for your grandchildren by means of a safe in some reliable bank, which can *only* be opened 50 years from now by your grandchildren.

    You have only these two choices to put into the safe, and once it’s put in, it’s locked for 50 years:

    1) 1 million US dollars in cash, in the shape of brand new uncirculated 2014 Federal Reserve notes, nicely ordered and packaged with lots of official stamps, signatures of authenticity, holograms and what have you;

    2) 500 oz of gold in the shape various coins like Eagles, Philharmoniker and Maple Leafs, some 1 and 10 oz bars, etc. Some shiny ones, some with wear marks, even one 2000 year old Roman coin. Basically, just one big mess of 500 oz of barbaric relics.

    What would YOU chose?

  • photontail

    Bullish as Germany couldn’t get their gold.
    Bullish as the Dutch could, because German still can’t get their gold.

Copyright Information: BullionStar permits you to copy and publicize blog posts or quotes and charts from blog posts provided that a link to the blog post's URL or to https://www.bullionstar.com is included in your introduction of the blog post together with the name BullionStar. The link must be target="_blank" without rel="nofollow". All other rights are reserved. BullionStar reserves the right to withdraw the permission to copy content for any or all websites at any time.