Why Do So Many Countries Want Their Gold Back?
by C Serpa, Grams Gold Looks like the trend for this year is countries all over the world wanting their gold back from the US and London. Why would they want to do that? Because they saw how Germany couldn’t get theirs back, and have serious suspicions that the gold is no longer in the vaults. Makes sense. The mere fact that this repatriation of gold appears to be happening confirms what wealth preservation investors have always known, namely that gold should be held under direct control of the owner. That is the only proof that the gold actually exists. For investors, this means “allocated gold.’ But the bigger question is:
Does the US Have Any Gold Left in its Vaults?
The Netherlands. They recently received their requested 122 tons from the US, no problemo. Yet the Germans have been asking for theirs back for 2 years, and only got 5 tons out of hundreds, citing logistical problems. Really? Perhaps something is amiss with the downed flight in Malaysia (the first one, Flight 17) in which the Dutch blackmailed the US into getting their gold back. Jim Willie thinks it may have had Ukraine’s gold aboard, which was stolen and downed by the US. Somehow that doesnt’ seem too far-fetched, considering the black box has gone incommunicado ever since. Why did the Dutch National Bank decide it was time to cut its gold held at the NY Fed by 122 tons? “”It is no longer wise to keep half of our gold in one part of the world,” a DNB spokesman told Telegraaf. “Maybe it was desirable during the Cold War, but not now.” Of course the German request for repatriation from the USA was a total failure. Germany requested to get 680 tons of gold back from the FED, but received only 5 and were told that they will get the rest back in 2020. “There can be only one reason for this delay, their gold is not there anymore.” ” says Gold Switzerland. The Federal Reserve is New York has consistently refused an audit of their gold, for years now. If they had the gold they say they do, then they wouldn’t have anything to hide, and allow an audit, simply an inspection to see if all the gold they claim they have, is still there. It was probably leased or sold by the Fed to a bullion bank. The buyer was most certainly China and this is where the gold is now. All Germany has is a paper claim on the Fed. And the Fed can of course never find the physical gold at anywhere near current prices. With Holland the story is probably the same. 31% of their gold is now at the Fed and that gold is probably in China. So Holland got back the gold that the Fed could find since the rest most likely doesn’t exist. The Dutch National Bank said that it may also have a positive effect on public confidence.” There is no reason for the Dutch to feel confident with 69% of their gold abroad and most of it probably is just paper gold.
The Federal Reserve is New York has consistently refused an audit of their gold, for years now. If they had the gold they say they do, then they wouldn’t have anything to hide, and allow an audit.