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Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 8:11 am
by schockergd

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 8:25 am
by misteroman
Was reading that this morning. I cant see how it cant hit $50/2000 this year and am betting hard on it.
I hope I'm right lol

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 9:28 am
by Hawkeye
That might start to make things interesting.

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 9:48 pm
by doug
All I can say, it is their gold. I hope they get all of the gold to have coming.

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 9:55 pm
by mbailey1234
How do you say tungsten in German? How many flat rate international boxes would it take to ship it? :lol:

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 10:21 pm
by Engineer
mbailey1234 wrote:How do you say tungsten in German?


Wolfram

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 10:27 pm
by uthminsta
This article does not say they are repatriating ALL their gold from NY. They ARE repatriating all their gold from France, and an UNDISCLOSED PERCENTAGE of their gold from the NY Fed.

No matter what the percentage is, it sends quite a signal to those who are listening. There are several possible scenarios that could play out from this, but the two main ones which come to mind are:

1) Other nations may suspect there is not as much physical gold there as is on paper, and quickly line up to recall their gold. Eventually we get to "the bottom of the barrel" before it's all supposed to be gone. Let that scenario roll around in your head for a while. What would happen next? NY Fed in big trouble, but GOLD JUMPS OVERNIGHT.

2) even if every GRAM that is supposed to be there actually is, the very removal of the gold from Germany says they feel less need for dollar-liquidity, so other countries may follow suit anyway. What would happen next? US economy in trouble, and DOLLAR TANKS OVERNIGHT.

Does that sound about right to all of you?

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 10:31 pm
by henrysmedford
Image
The Federal Reserve Bank of New York holds 1,536 metric tons of German gold, nearly half of Berlin's reserves. This enormous hoard of gold is stored in the fifth subfloor of the bank's building on Liberty Street, 25 meters (80 feet) below street level, and 15 meters below sea level.

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 10:31 pm
by PennyPauper
Cue Mission Impossible theme.... "Operation Wolfram"

Re: Bundesbank recalls all NY gold

PostPosted: Tue Jan 15, 2013 11:29 pm
by ZenOps
They should be able to verify the bars fairly quickly.

I believe they can simply squish the bars (like what would normally be done before making planchets) and test with great accuracy 3 mm deep on each side with a standard XRF scanner.

No need to even melt them anymore nowadays, but they probably will. I would. Any bets that its all there? I'm thinking its all there.

Re: Bundesbank recalls all NY gold

PostPosted: Wed Jan 16, 2013 8:47 am
by henrysmedford
You know a story is real when you read it on the BBC--http://www.bbc.co.uk/news/business-21040214

BUSINESS

16 January 2013 Last updated at 07:27 ET
Germany gold: Central bank to bring home some reserves
Germany's central bank is to bring back almost 700 tonnes of gold reserves it keeps in New York and Paris.
By 2020, half of its gold bars will be in its vaults, the Bundesbank said. It currently keeps less than a third at home.
The bars were originally taken out of Germany as a precaution against an invasion from the Soviet Union.
Central banks keep gold abroad so that it can be used to quickly buy foreign currency in times of crisis.
The Bundesbank will no longer keep any of its reserves in Paris, as both countries use the euro.
It will reduce the amount it holds in New York from 45% to 37% by the end of the decade.
No gold will be moved out of the Bank of England's vaults, however. It will still keep 13% of its total reserves in London, the German central bank said.
According to the BBC's Berlin correspondent, Stephen Evans, the German audit office has criticised the government for not keeping a proper track of the bars,
It has even suggested some of the bars may not have been checked to see if they are real, he added.

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

Re: Bundesbank recalls all NY gold

PostPosted: Wed Jan 16, 2013 11:06 am
by ZenOps
"It will reduce the amount it holds in New York from 45% to 37% by the end of the decade."

I thought they were taking out much more than that, online sites made it seem like they were clawing at assets.

BBC wins.

Re: Bundesbank recalls all NY gold

PostPosted: Wed Jan 16, 2013 12:10 pm
by uthminsta
Germany's central bank is to bring back almost 700 tonnes of gold reserves it keeps in New York and Paris. By 2020, half of its gold bars will be in its vaults, the Bundesbank said. ... It will reduce the amount it holds in New York from 45% to 37% by the end of the decade.

This means a 17.8% reduction in their NY FED holdings. By 2020. The original article had it sounding like they wanted it all out by the end of the week. This is slow enough to put everyone back to sleep about it.

No gold will be moved out of the Bank of England's vaults, however. It will still keep 13% of its total reserves in London, the German central bank said.

Interesting to note. Does this mean they have no problem with the stability of the Pound, or...?


Okay, so I did the math myself, using the percentages and the 3,396 ton total amount mentioned.

German gold, 2013:
3396 tons total.
45% is held in New York (1528.2 tons)
31% in Frankfurt (1052.76 tons)
13% in London (441.48 tons)
11% in Paris (373.56 tons)

German gold, 2020:
assuming their reserve stays at 3396 tons total...
50% Frankfurt (1698 tons)
37% New York (1256.52 tons)
13% London (441.48 tons)
0% Paris

Or... 271.68 tons removed from NY over a 7-year span.

Re: Bundesbank recalls all NY gold

PostPosted: Wed Jan 16, 2013 12:27 pm
by Kurr
The Fed (imho) has negotiated with them to allow for the 2020 after being assured by the pentagon they will be able to "pacify" and obtain that amount of gold from the just discovered "Al-Quaida in Mali".

As I stated on another forum, it's uncanny how AQ seems to have a knack for taking up residence in areas that seem to have strategic resources we need.

Re: Bundesbank recalls all NY gold

PostPosted: Wed Jan 16, 2013 12:59 pm
by uthminsta
Also just read that Germany was asking back in October for NY to send them 50 tons a year for the next 3 years...

Re: Bundesbank recalls all NY gold

PostPosted: Wed Jan 16, 2013 6:40 pm
by slvrbck
when i first glanced I thought this thread was called beauanderos recalls all NY gold

Re: Bundesbank recalls all NY gold

PostPosted: Wed Jan 16, 2013 7:16 pm
by beauanderos
slvrbck wrote:when i first glanced I thought this thread was called beauanderos recalls all NY gold

Image

Couldn't find a picture of a bald guy :lol:

Re: Bundesbank recalls all NY gold

PostPosted: Wed Jan 16, 2013 7:21 pm
by 68Camaro
uthminsta wrote:Interesting to note. Does this mean they have no problem with the stability of the pound?


No, just that they "need" some gold as collateral for forex with the USD and the pound, but they don't need anything in France.

Re: Bundesbank recalls all NY gold

PostPosted: Thu Jan 17, 2013 4:12 pm
by soundman
Interesting article about unique "tempest" signatures of gold bars and using it as a means to authenticate. This is relevent to this thread since the German's used it to test some bars at the NY fed.
This article also discusses how the German's gold was only 8 feet underground which might have something to due with them wanting to repatriate it. If none of that is of interest, you can see the X-ray gun and other testing equipment that the German's used at the NY fed.

http://cryptome.org/2013/01/de-gold/de-gold-tempest.htm

Re: Bundesbank recalls all NY gold

PostPosted: Sun Jan 19, 2014 9:32 am
by nero12345
They missed the first payment. Not a great start is it.

Re: Bundesbank recalls all NY gold

PostPosted: Sun Jan 19, 2014 12:57 pm
by uthminsta
nero12345 wrote:They missed the first payment. Not a great start is it.


Which reaction did you have to this news?
:shock: or :roll:

Please quote a source if you have one to share. I would like to read up on this.

Re: Bundesbank recalls all NY gold

PostPosted: Sun Jan 19, 2014 1:59 pm
by cooyon
Kurr wrote:
As I stated on another forum, it's uncanny how AQ seems to have a knack for taking up residence in areas that seem to have strategic resources we need.


I hope the AQ don't learn about Lebanon bologna.

Re: Bundesbank recalls all NY gold

PostPosted: Sun Jan 19, 2014 3:00 pm
by beauanderos
uthminsta wrote:
nero12345 wrote:They missed the first payment. Not a great start is it.


Which reaction did you have to this news?
:shock: or :roll:

Please quote a source if you have one to share. I would like to read up on this.

I'm not finding anything about this missing payment? I did read several articles on the attempted gold repatriation, tho, which now makes me the reigning expert on the subject :lol:

Re: Bundesbank recalls all NY gold

PostPosted: Sun Jan 19, 2014 5:35 pm
by nero12345
beauanderos wrote:
uthminsta wrote:
nero12345 wrote:They missed the first payment. Not a great start is it.


Which reaction did you have to this news?
:shock: or :roll:

Please quote a source if you have one to share. I would like to read up on this.

I'm not finding anything about this missing payment? I did read several articles on the attempted gold repatriation, tho, which now makes me the reigning expert on the subject :lol:


That's scary that you're the expert.lol. So they delivered 37.5 tons which is about 50 tonnes short, thats if they were to make equal payments. If I owe visa $87 and I pay them $37 then they would and I would consider that a missed payment. I suppose I'm wrong. So what I should have said they made a partial payment on their first payment and they will make it up on the next one. I'm sure it's all there.
http://www.zerohedge.com/news/2013-12-2 ... -700-total

I'm not a news reporter so I I'm not required to provide sources. :roll: In trying to keep up with all the nonsense that goes on these days I read many articles on many different websites and newspapers.

Re: Bundesbank recalls all NY gold

PostPosted: Mon Jan 20, 2014 12:35 am
by theo
nero12345 wrote:
I'm not a news reporter so I I'm not required to provide sources. .


No one you here "required" you to do anything. However, if you post an important piece of information here, you may be asked to back it up with a source. As it turns out, your information was a little off. No big deal and certainly no need to get defensive.