Germany to repatriate gold

Of course logistics is not THE issue. But what is this announcement of a 7 year delivery process telegraphing to market observers?

I interpret that as saying there will be central bank accumulation of gold from this point on, if for no other reason than to buy back the German gold for delivery. Isn't this implying a floor for the value of gold at its current price.

But gold is mobilising and moving around the world again between mainstream economic powers! Not just the smaller and ignorable countries like Venezuela, Iran, Turkey, or the early adopters/promoters like Iraq and Libya, but Germany. Once the gold becomes mobile again, transportation logistics are a given and other countries will move for direct control and mobilisation of their gold.

If national wealth is being rated in terms of gold holdings again, then doesn't this mean even more central bank buying?

Have we just crossed the golden Rubicon?
 
It didn't take them very long at all to come up with a timeframe for the return. Surely there would have had had to have been a few meetings to discuss this. In my experience with governing authorities, i would have expected at least a few months to pass before a timeframe would have been given, unless a plan of action had already been put in place for such a situation. Germany seems ok with it though so perhaps they already knew the standard timeframe of delivery. No reports of shock or amazement at the lengthy timeframe. Somethings smells or doesnt smell, I dont know.
 
Perhaps they can repatriate all the German Silver going around too. I'm sure there are people who have been caught buying the stuff thinking it was the real deal.
 
Max Keiser has a few words to say about it too:

[youtube]http://www.youtube.com/watch?v=8lnslMWhOTw[/youtube]
 
Jonesy said:
Time to get this lot back perhaps?

[youtube]http://www.youtube.com/watch?v=Csv1wXOr5tY[/youtube]
Click to expand...

I guess the Bundesbank should go after Teli Savalas and Clint Eastwood. They must have all the gold. :rolleyes:
 
IB TIMES - THE BIGGER PICTURE:

http://www.ibtimes.com/big-picture-behind-germany-taking-half-its-gold-home-1042254

"There have been widespread stories that the Fed does not have the gold to return as gold held for governments is usually, 'unallocated'. This suggests that the German gold reserves were not 'allocated'. Ordinarily, central bank monetary reserves should be held in an 'allocated' format to evidence to whom they belong. As it is, held in an 'unallocated' form, in simplistic terms, this means that should the Fed fail, foreign central banks holding their gold there would be that unsecured creditors. This concern has been voiced inside Germany. It has been noted that the gold of Germany has not been audited in the past and it should be, on a regular basis. The German Court of Auditors told legislators that the gold had "never been verified physically" and ordered the Bundesbank to secure access to the storage sites. It called for repatriation of 150 tons over the next three years to test the quality and weight of the gold bars. But Germany has decided to move more than in this recommendation. It is said that Frankfurt has no register of the numbered gold bars."
 
7 years for repatriation is a long time.
I bet the US and/or France and/or the UK don't have the gold. I also think the Germans are smart enough to check the content: "Hat es Wolfram oder nicht?"
 
Probably a few reasons for the timeframe, all of which have been touched on in this thread.

- "no need to panic", repatriating it all in one go would be an incredibly bullish signal for gold that would send the price to the moon.

- assay - much of the gold in the Fed is allegedly coin bars (basically 22k gold) from the 1930s nationalisation of US gold coinage - they just melted the coins. I'm betting there's a process of testing, assay, and refinement to international standard as part of the delivery. You don't just turn that much capacity "on".

- insurance - "hoppla! Ze boat is sunk" - you don't shift $37b in liquid assets through international waters and across borders without coverage - risk managers would be having conniptions at the thought of shifting that much gold.

I think the signal it would send to the market though is the big one.
 
^ as someone else raised, how valid is the last one given they are one of the largest economies of the world asking for delivery from the country with the largest defence capability? Self insurance via your defence forces seems practical (potentially with the US providing additional support for diplomacy etc reasons).
 
If the date does not get pulled forward i'll eat my alfoil hat. Face it Germany.... its gone
[youtube]http://www.youtube.com/watch?v=NmFo-LKHGY0[/youtube]
 
goldpelican said:
Probably a few reasons for the timeframe, all of which have been touched on in this thread.

- "no need to panic", repatriating it all in one go would be an incredibly bullish signal for gold that would send the price to the moon.

- assay - much of the gold in the Fed is allegedly coin bars (basically 22k gold) from the 1930s nationalisation of US gold coinage - they just melted the coins. I'm betting there's a process of testing, assay, and refinement to international standard as part of the delivery. You don't just turn that much capacity "on".

- insurance - "hoppla! Ze boat is sunk" - you don't shift $37b in liquid assets through international waters and across borders without coverage - risk managers would be having conniptions at the thought of shifting that much gold.

I think the signal it would send to the market though is the big one.
Click to expand...

Cant they just bung it in a few satchels marked "Collectibles" and valued at 1930s (confiscation) prices? Save heaps on shipping and ins.

Bugger if some gets lost in the Mail though. International transactions always make me nervous. :(
 
Now news comes that, in the first year of the plan, Germany only received back 37.5 metric tonnes of their gold. This is only 5% of the total repatriation amount. At this rate, it will take twenty years, not eight, to reclaim the gold!
2014 is going to a consequential year in gold and silver. This German gold story only adds intrigue and fuel for the fire.

Further muddying the waters are reports that this gold came exclusively from the vaults of the Federal Reserve Bank of New York (FRBNY). If that was the case, then the gold returned should have been a simple transfer. The Germans deposited the gold there decades ago. It is being shipped back to them now. Problem is, it wasn't a simple transfer!

Apparently, The Bundesbank took the unusual step of having "its" bars assayed, melted and recast into London Good Delivery form before taking delivery. Now, why would they do that? And why would they do this in the U.S. and not in Frankfurt? These bars should simply be the same bars that were deposited decades ago. Do they not trust the FRBNY? Are these not the same bars?
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More conspiracy fluff- http://www.tfmetalsreport.com/blog/5375/where-german-gold
 
...former top personality on Fox News, and whose news website The Blaze is the 140th most visited website in the entire US, devotes 20 minutes of TV time discussing the German's attempts to repatriate their gold reserves, and discusses the implications of what the Fed only returning 37 tons of re-cast gold bullion to the Bundesbank in year 1 likely means.
In Glenn Beck's own words: "The situation is worse than even I thought it was.There's not alot of that gold (at the Fed) really left. The answer is rehypothecation.
How hard is it to return the Bundesbank's gold? It has their stamp on it! The reason the German gold is being returned over 7 years is that a phone call came in to the Germans and said 'Hey, Rehypothecation, Dude! There's not enough gold here! We were playing a game!'
Once people demand their hard asset back, the entire thing collapses!"
It appears the gold manipulation and rehypothecation story has just gone mainstream.
Click to expand...

[youtube]http://www.youtube.com/watch?v=7RLhpkaIC7g[/youtube]
 
However, what will certainly not help mute "conspiracy theorists" is today's update from today's edition of Die Welt, in which we learn that only a tiny 5 tons of gold were sent from the NY Fed. The rest came from Paris.

As Welt states, "Konnten die Amerikaner nicht mehr liefern, weil sie die bei der Federal Reserve of New York eingelagerten gut 1500 Tonnen lngst verscherbelt haben?" Or, in English, did the US sell Germany's gold? Maybe. The official explanation was as follows: "The Bundesbank explained [the low amount of US gold] by saying that the transports from Paris are simpler and therefore were able to start quickly." Additionally, the Bundesbank had the "support" of the BIS "which has organized more gold shifts already for other central banks and has appropriate experience - only after months of preparation and safety could transports start with truck and plane." That would be the same BIS that in 2011 lent out a record 632 tons of gold...


Read more: http://www.zerohedge.com/news/2014-...ered-paltry-5-tons-gold-ny-fed-after-one-year
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I wonder if they recast the bars before delivery not because they would otherwise be identified as not German, but so that the bars could not be identified as stolen from the actual owner? Aren't the Chinese recasting all their imported bars...

... I wonder if Australian Gold is specially marked?
 
... I wonder if Australian Gold is specially marked?
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Well they've just shipped over a one tonne Kangaroo!!

http://www.perthmint.com.au/1-tonne-gold-coin.aspx

This gold conspiracy is achieving 9/11 status.
Everyone knows someone stole it but lies and obfuscation and red herrings and misinformation is concealing the truth quite effectively.
I don't know how anyone could believe the German gold still exists in New York, especially after this latest farce.
 
Gino said:
However, what will certainly not help mute "conspiracy theorists" is today's update from today's edition of Die Welt, in which we learn that only a tiny 5 tons of gold were sent from the NY Fed. The rest came from Paris.

As Welt states, "Konnten die Amerikaner nicht mehr liefern, weil sie die bei der Federal Reserve of New York eingelagerten gut 1500 Tonnen lngst verscherbelt haben?" Or, in English, did the US sell Germany's gold? Maybe. The official explanation was as follows: "The Bundesbank explained [the low amount of US gold] by saying that the transports from Paris are simpler and therefore were able to start quickly." Additionally, the Bundesbank had the "support" of the BIS "which has organized more gold shifts already for other central banks and has appropriate experience - only after months of preparation and safety could transports start with truck and plane." That would be the same BIS that in 2011 lent out a record 632 tons of gold...


Read more: http://www.zerohedge.com/news/2014-...ered-paltry-5-tons-gold-ny-fed-after-one-year
Click to expand...

I wonder if they recast the bars before delivery not because they would otherwise be identified as not German, but so that the bars could not be identified as stolen from the actual owner? Aren't the Chinese recasting all their imported bars...

... I wonder if Australian Gold is specially marked?
Click to expand...
That's the point, their reason for "recasting" is bs. I do not, nor does many people believe that the gold in those bars is German.

Thank you very much for posting this House hopefully it will open some eyes of the mainstream
 
Germany Has Recovered A Paltry 5 Tons Of Gold From The NY Fed After One Year
http://www.zerohedge.com/news/2014-...ered-paltry-5-tons-gold-ny-fed-after-one-year
This is what happens when players begin to sit down in an international sized game of musical chairs.

Maybe it's difficult to ship gold around the world?
China%20Gold%20Imports%20October%20Gross.jpg

http://www.zerohedge.com/news/2014-...nnounce-it-has-more-doubled-its-gold-reserves

China has already got a seat, EU has thier eyes on the PIIGS seat, US is pretending it is sitting on a seat the it pawned a long time ago, Australia is sitting in the corner with it's finger in it's nose wondering what a chair is usefull for
 
"The bullion stored in Paris already has the elongated shape with beveled edges of the "London Good Delivery" standard. The bars in the basement of the Fed on the other hand have a previously common form. They will need to be remelted [to LGD standard]. And the capacity of smelters are just limited."
Click to expand...

Sounds like a good enough reason to me, got 32ton from Paris, no small amount, decent enough yearly return.

If the meager 5 tons per year becomes a habit out of New York, then questions need to be asked though.
 
Bullion Baron said:
Recasting the bars is no surprise, this was to be the case as far back as 2012:

The court is now demanding regular physical audits of Germany's overseas gold reserves. In response, the Bundesbank is considering bringing back some gold from abroad, melting it down to test for purity, and then recasting it back into bars.
Click to expand...
http://qz.com/18694/the-bundesbanks-bizarre-plan-to-melt-gold-to-check-purity-of-german-reserves/

Why is it such a surprise that they intended to recast them if not meeting good delivery standards? Seems plausible to me...
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Isn't there a different between testing for purity after the shipment is received and receiving recast bars?
http://www.zerohedge.com/contribute...old-housed-new-york-paris-and-london-all-gone

It seems to me that any excuse they come up with for having the bars remelted before receipt is highly questionable. The concept of plausible deniability comes to mind as a motivator above all else. They would definitely not want to be receiving someone else's golf and THEN recasting it, that's for sure.

Perhaps it is Italian gold recast and shipped to Frankfurt, or maybe Greek gold, or even German gold, or possibly a mixture. However, the only thing for sure is that by recasting the gold before receiving it, there is no telling whose gold it was beforehand and no doubt over whose gold it is now.
 
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