Gold and What Moves it.
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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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U.S. Dollar Collapse: Where is Germany’s Gold? | Peter Schiff | Global Research

U.S. Dollar Collapse: Where is Germany’s Gold? | Peter Schiff | Global Research | Gold and What Moves it. | Scoop.it

The financial world was shocked this month by a demand from Germany’s Bundesbank to repatriate a large portion of its gold reserves held abroad. By 2020, Germany wants 50% of its total gold reserves back in Frankfurt – including 300 tons from the Federal Reserve. The Bundesbank’s announcement comes just three months after the Fed refused to submit to an audit of its holdings on Germany’s behalf. One cannot help but wonder if the refusal triggered the demand.

 

Either way, Germany appears to be waking up to a reality for which central banks around the world have been preparing: the dollar is no longer the world’s safe-haven asset and the US government is no longer a trustworthy banker for foreign nations. It looks like their fears are well-grounded, given the Fed’s seeming inability to return what is legally Germany’s gold in a timely manner. Germany is a developed and powerful nation with the second largest gold reserves in the world. If they can’t rely on Washington to keep its promises, who can?


Where is Germany’s Gold?


The impact of Germany’s repatriation on the dollar revolves around an unanswered question: why will it take seven years to complete the transfer?

The popular explanation is that the Fed has already rehypothecated all of its gold holdings in the name of other countries. That is, the same mound of bullion is earmarked as collateral for a host of different lenders. Since the Fed depends on a fractional-reserve banking system for its very existence, it would not come as a surprise that it has become a fractional-reserve bank itself. If so, then perhaps Germany politely asked for a seven-year timeline in order to allow the Fed to save face, and to prevent other depositors from clamoring for their own gold back – a ‘run’ on the Fed. ...

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Germans want Gold reserves returned

Germans want Gold reserves returned | Gold and What Moves it. | Scoop.it
Germany has been facing mounting pressure to audit its national gold holdings from various political groups.

 

BERLIN(BullionStreet): The Germans are demanding their gold reserves be returned to them, and economist, columnist, radio host and international conference speaker Jerry Robinson says on his Follow the Money Weekly program this week that is bad sign for America. 

Robinson explains in the opening part of this week’s FTM Weekly program that the move appears to be the leading edge of a “similar breakdown of global trust in the U.S .government’s ability to handle its finances.”

Robinson explains more fully that Germany has been facing mounting pressure to audit its national gold holdings from various political groups. Some leaders also want all of the nation’s gold brought back home, so Germany’s Bundesbank last week publicly revealed its plans to repatriate half of its gold. ...

Hal's insight:

Well, of course they do. If you can't lay your hands upon it, you don't really have it.

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The Golden Truth: Germany Pays A Visit To The United States

The Golden Truth: Germany Pays A Visit To The United States | Gold and What Moves it. | Scoop.it

On Germany wanting their gold back and having to wait seven years, Dave in Denver writes:

 

... The most likely scenario is that, while it's possible, though not a certainty,  that the bars may be sitting in the West Point deep storage Fed gold vault, it has been leased out and swapped out in legal transactions designed to manipulate the price of gold.  What this means is that private parties (think:  China's central bank, very wealthy foreigners, India, etc) have the legal title to any gold that has been leased or swapped and sold outright. ...

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Why It’s Taking 7 Years For Gold To Be Returned To Germany

Why It’s Taking 7 Years For Gold To Be Returned To Germany | Gold and What Moves it. | Scoop.it

Today acclaimed money manager Stephen Leeb told King World News the reason Germany is only getting small portions of their gold sent to them over the years is because the gold is not at the Fed.  Leeb also believes the United States is now running out of physical gold to sell in their price suppression scheme.  Here is what Leeb had to say:  “There are two main parties engaged in a battle for economic and monetary supremacy in the world.  This is China vs the United States.  Interestingly, at least for a period of time, both countries don’t want to see the price of gold take off.


"The Chinese don’t want to see the price of gold take off because they still want to buy a lot of it.  The Chinese took in at least 1,000 tons of gold last year, and maybe even more.  This total represents Hong Kong imports plus their own production.

 

"This year the Chinese are really going to play the game much more aggressively with these Shanghai markets that are going to have international players actively trading in them.  They will also trade derivatives, and the Chinese will accumulate gold through their new ETF. ..."

Hal's insight:

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German Gold Hijinx by @TFMetals

German Gold Hijinx by @TFMetals | Gold and What Moves it. | Scoop.it

I guess it all depends on how you look at it. Either this is all on the up-and-up or it isn't. Either this is a purely political show or it isn't. Either the gold is really there to be repatriated or it isn't. It's up to you to decide.

 

Just three months ago, The Bundesbank labeled as "lunacy" the idea that German gold needed to be brought home. They announce today that they're doing it anyway, but in sizes nowhere near what had been speculated. Is this just a political trick to mollify the German hoi polloi? Probably. It certainly doesn't upset the status quo or shake the global banking system in the manner we'd all hoped.

 

However, you could also choose to look at it this way:

In preparation for The Great Reset, the Germans do desire to
Hal's insight:

Click over for the full piece and chart goodness. He has some links to other pieces related.

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Ed Steer on Germany wanting their gold back.

Ed Steer on Germany wanting their gold back. | Gold and What Moves it. | Scoop.it

Ed Steer on Germany wanting their gold back:

 

"... But, having said that, there's no question in my mind that there are big changes going on behind the scenes in the precious metals world, as the move by Germany to repatriate its gold has send shock waves through the entire financial system in general...and the world's largest central banks in particular.

 

"Now that Germany has made the move, it's only a matter of time...and not too much time at that...before other countries will make the same move.  Then we'll find out how much gold there really is in those central bank vaults.  As Bill Gross and Ambrose Evans-Pritchard said, it's obvious that the trust between the world's central bankers is starting to seriously erode...and I think that the New York Fed would be at the top of the list of least trustworthy...at least from a European perspective...and most likely other areas of the world as well. ..."

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Germany bringing home 674 tonnes of gold | MINING.com

Germany bringing home 674 tonnes of gold | MINING.com | Gold and What Moves it. | Scoop.it
Germans want their bullion where they can see it.

 

Following rumors to the effect that have been circulating for months Germany’s central bank will recall some of its gold bullion stored in vaults around the world.

 

The hoard is worth more than $180 billion.

 

The Bundesbank on Wednesday said it will ship back home all 374 tonnes it had stored with the Banque de France in Paris, as well as 300 tonnes held in Manhattan by the US Federal Reserve. ...

Hal's insight:

It's not your gold unless you're in possession of it.

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Top UBS Analyst Predicts Carnage For The US Dollar & Equities

Top UBS Analyst Predicts Carnage For The US Dollar & Equities | Gold and What Moves it. | Scoop.it

On the heels of Germany looking to repatriate their gold, today King World News spoke with top UBS analyst Peter Lee about his rather frightening forecasts for the US dollar and equities.  Interestingly, his call for the dollar to plunge comes right after Germany expressed that it wants its gold out of the Fed and back inside German vaults.  If Lee is right in his outlook, this will have massive global ramifications.  Lee also provided KWN with some incredible charts to back up his rather ominous predictions for both the dollar and equities.  

Hal's insight:

click through for the full piece and the charts.

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Germany Wants Their Gold Back | LiveCharts.co.uk

Germany Wants Their Gold Back | LiveCharts.co.uk | Gold and What Moves it. | Scoop.it
The significance of this can not be over-stated.  This is a breakdown of trust between Germany and those who have held their sovereign gold reserves for the

Via Tom Luongo
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Germany and Gold Holdings

Germany and Gold Holdings | Gold and What Moves it. | Scoop.it
Gold is not just a mineral with little industrial use and importance in the international monetary system, but is still considered a measure of wealth throughout the world and holds an important role in the global monetary system.

 

By Heide B. Malhotra
Suspicions are being voiced by market analysts, economists, and a number of researchers and political experts that Germany has lost confidence in the central banks of the United States, United Kingdom, and France, and it’s putting them on notice concerning the gold they hold for Germany. 

A January 16 article posted on the Gain, Pains & Capital website asked, “Why would Germany suddenly decide that it wants to change a policy it has had in place for over 30 years? … How did it go from wanting to audit its reserves to actually removing them from the NY Fed’s care?” The article then stated “In simple terms, Germany has just announced that it doesn’t trust the US Fed.”

At present, Germany holds 31% of its gold in Frankfurt, 45% in New York, 13% in London, and 11% in Paris. By December 31, 2020, it will hold 50% of its gold in Frankfurt and reduce its holdings in New York by 8% and in Paris by the full 11%, according to a Jan. 16 announcement by ...

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The Golden Truth: Any Questions As To WHY Germany Wants Its Gold?

The Golden Truth: Any Questions As To WHY Germany Wants Its Gold? | Gold and What Moves it. | Scoop.it

One thing that has taken me by surprise are the sudden and unexpected developments that have instantly thrust the physical vs. paper issue into the forefront.  The Bundesbank event followed by the U.S. Mint announcement has made a much wider audience more open minded about the issues surrounding credibility of bullion bank gold/silver depositories and the ability to verify whether or not the gold/silver that is supposed to be in those depositories can be fully accounted for on an allocated basis. 

Certainly the circumstances surrounding the Bundesbank's decision and the length of time being given to fulfill it's request adds credibility to the view that western Central Bank and bullion bank depositories do not have the amount of gold they are supposed to be holding on behalf of others...

Hal's insight:

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Lufthansa ready to transfer 674 tons of German Gold

Lufthansa ready to transfer 674 tons of German Gold | Gold and What Moves it. | Scoop.it
The Bundesbank is planning to shift 374 tons kept in vaults in Paris and 300 tons stored at the New York Federal Reserve Bank to Frankfurt over the next eight years.

 

BERLIN(BullionStreet): The Value of gold Germany wants to shift from New York and Paris is estimated at $36 billion, reports said.

 

Shipping such a large amount of valuable cargo between countries could be a serious security headache, analysts said.

 

The security cost of the transhipment of 674 tons of gold is not included, they added.

 

The move is part of an effort by Germany's central bank to bring much of its gold home after keeping big reserves outside the country for safekeeping during the Cold War. ...

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James Turk - Germany’s Gold Is Being Held Hostage

James Turk - Germany’s Gold Is Being Held Hostage | Gold and What Moves it. | Scoop.it

Today James Turk told King World News that the German gold is being held hostage by the Fed.  Turk also believes that one portion of the Bundesbank’s press release was particularly misleading.  Turk reveals the reality of what is taking place with Germany’s gold, and it’s not what the mainstream media and the Bundesbank are telling people. 


Here is what Turk had to say in this extraordinary interview:  “It’s quite clear that the German gold is being held hostage.  They are not getting what they want.  They are getting what the Federal Reserve is telling them they can have.  The fact that they are doing it over 7 years rather than 7 weeks, is just an indication that gold probably isn’t in the Federal Reserve, and the Federal Reserve doesn’t want to have to go out and buy it overnight to fulfill the German demand.  They are trying to stretch it out as long as possible in order to keep gold prices controlled.” ...

Hal's insight:

Fascinating, isn't it? Seven years. That's surprising to me and should send up warning flags to everyone, and adds color to why the FED doesn't want to audit the gold. Click over for the rest of Turk's interview.

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Jim Sinclair's thoughts on why Germany wants their gold back

My Dear Friends,


I respectfully disagree with most of the explanations given today on the why of German actions in gold. My understanding is that the causal event of this notification actually came from the actions of the US Exchange Stabilization Fund and the long term plans to strengthen the euro.

 

I have published a chart from Patrick showing the extreme change in the ratio of gold to fiat currency presently being held in reserve by Euroland.

 

First you need to understand what the Exchange Stabilization Fund is and is not. It is an account at a major gold bank in the name of the Exchange Stabilization Fund. This fund can legally trade in gold and does. The President of the USA and the Secretary of the US Treasury run this fund. Those two managers by law are permitted to designate another manager if they wish. The fund can trade long or short, borrow or lend anything. Basically this is a an account that can legally do anything it wants whenever it wants in secret as the year end statement can easily be brought to only benign activates by warehousing all the trades.

 

Their broker is quite an expert in that strategy to wash year-end positions for clients.

 

What occurred as I am told is an act in Germany in reaction to a ...

Hal's insight:

Click over for the rest of what Jim Sinclair has to say on Germany wanting their gold back.

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'Physical Gold' to gain on German repatriation plan

'Physical Gold' to gain on German repatriation plan | Gold and What Moves it. | Scoop.it
Financial gold or paper gold served the globe for too long and during the current economic crisis,it may not get the support it enjoyed for long.

 

LONDON(BullionStreet): Germany's decision (not officialised yet) to repatriate a major portion of it's gold stored in the US,UK and France may start the trend of switching to physical gold from financial gold, analysts said.

 

They added that financial gold or paper gold served the globe for too long and during the current economic crisis,it may not get the support it enjoyed for long.

 

They however said the process is definitely in its early stages. But it may eventually appear as people and governments want to see the real gold to fight inflation.

 

Some experts said if gold repatriation becomes a worldwide trend, it will be obvious that both the US and UK have lost their credibility as gold custodians. ...

Hal's insight:

More countries to follow soon, I'm sure.

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Fleckenstein - Gold & Silver Set Up For An Explosive 2013

Fleckenstein - Gold & Silver Set Up For An Explosive 2013 | Gold and What Moves it. | Scoop.it

... when asked about the Germans repatriating their gold, Fleckenstein responded, “They want to have their gold inside Germany.  There was a flap inside Germany about them wanting to make sure they had it (their gold).  This is in response to that.


“So, while I think it’s psychologically bullish for gold, I don’t know that there is that much there yet.  We might find reasons for it that suggest there is a lack of trust between central banks.  The people who believe in conspiracies that are determined there’s really no gold there will view this as proof positive that the Germans are now afraid there’s no gold there.

 

"This is part of the argument that central banks are realizing that gold is valuable, which is why you see so many of them buying it with the confetti they print up every night. ...


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Bundesbank develops new concept to bring back German Gold

Bundesbank develops new concept to bring back German Gold | Gold and What Moves it. | Scoop.it
The US Federal Reserves holds 45 percent of Germany's 3396 tons of gold while the Bank of England holds 13 percent and the Bank of France holds 11 percent. The rest is with the Bundesbank headquarters in Frankfurt.

 

BERLIN(BullionStreet): After criticisms flared up over it's silence over country's huge gold reserves stored abroad, the German central bank said it has devoloped a new concept on the issue, reports Handelsblatt.

 

According to the German language business newspaper,the Bundesbank has devoloped a plan to retrieve large parts of the German gold reserves stored for safety in the US, UK and France.

 

The plan, according to which Germany will hold more gold reserves, will be announced soon. ...

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