Gold repatriation has been on the radar, some days more than others, for the better part of the past 5 years. The big news was Germany wishing to repatriate some of their gold from the Federal Reserve Bank New York (FRBNY) and Swiss National Bank. As you might recall, the big news was it would take the FRBNY 7 full years to gather, process and ship a mere 300 tons of gold out of the New York vault and send to Germany. Very few people understood why it would take so long and, to this day, it makes no sense.
Germany has since claimed they have received all the gold requested and are currently satisfied. Peter Boehringer, the architect of the German gold repatriation movement in Germany, is not satisfied at all having not seen one bar, one serial number or any hard evidence proving the German gold has been returned.
There is a very good reason why Mr. Boehringer is not satisfied.
Then we learned the physical gold that was being repatriated to Germany was not physical gold at all and that Germany’s Bundesbank was actually selling gold in order to make gold coins!! The repatriated gold was merely a line on a ledger sheet!! Which begs the question – Why would it take 7 years to create a ledger entry? Two set of books, three sets of books, one-hundred eighty sets of books? What could possibly have delayed this transaction and why were these people not forthcoming with the appropriate information from the beginning? Lies, deceit and propaganda – that’s why.
Soon after Germany made their request, Hugo Chavez, President of Venezuela at the time, who has since died of an apparent heart attack, made a lot of noise regarding the return of 140 tons of gold from FRBNY. The gold was returned, in fairly short order, to much fanfare in Venezuela. The gold that was returned has since been sold/leased to Goldman Sachs in an effort to curtail the currency crisis that erupted soon after Venezuela received their gold. Hmmmm. Venezuela began experiencing a currency crisis immediately after receiving their gold from the FRBNY? You don’t say?
A few days ago the gold repatriation scheme took another strange turn and opened the door for even more questions about what is happening with all this supposed gold moving from one country to another. It is beginning to look like whoever currently has the gold is not moving it from the “host” country to the other.
The question is, who’s not telling the truth here? That would be DNB, for sure, and possibly also the BOE and FRBNY.
Just to be clear, the amount of gold leased out by DNB is nil. In 2012 the Dutch Minister Of Finance, De Jager, declared in congress DNB had ceased all gold leasing activities by 2008.
Exhibit 15. Kamervragen 2012. In red, De Jager states, “No. DNB has notified me it ceased lending gold in 2008.”
Again, all the Dutch gold is allocated, and yet DNB declared in a newspaper the bar list can’t be published because it would cost “hundreds of thousands of euros“ – this has appeared to be an embarrassing statement and truly blows DNB’s credibility. If DNB doesn’t wish to disclose its bar list, for whatever reason, it would have done wise not to comment at all on this issue.
But why all the nonsense? Time to speculate. We’ll run through a few scenarios:
Scenario 1) Publishing a bar list might limit DNB’s future flexibility to intervene in financial markets. Currently, DNB hasn’t got any gold leased out. But if the bar list would be published, my central bank would be obstructed in future covert leasing activities.
Suppose, the gold price spikes in five months from now. DNB, or multiple central banks in concert, decide to lease out monetary gold in order to calm the physical market. When the leases would be undone several years later, surely the bars returned will not be the ones lent out. Following this scenario, when a bar list is published now it would be inaccurate in a few years time; showing bars that are long gone, and can show up on private gold ETF inventory lists.
If readers question wether central bankers are capable of ‘not telling the truth’, consider what DNB’s Governor said in an interview early 2012 when asked if he would repatriate any gold from the FRBNY. His answer was firm: “No”. However, shortly after, DNB started to prepare repatriating by reinforcing its headquarters. A new security barrier was constructed around the compound. DNB confirmed to me this was done to prevent any trucks from crashing the building. Likely, the Governor ‘did not tell the truth’ in the interview for strategic reasons.
Scenario 2) It’s possible the BOE claims to provide its clients gold bar lists and auditing rights, but in reality it doesn’t. Meaning, DNB doesn’t have a bar list from the BOE that complies with LBMA standards, which forces them to come up with excuses whenever confronted. This scenario could mean custodial gold at the BOE (and FRBNY) has been embezzled.
In 2016 economist Guillermo Barba pressured the Banco de México to publish a gold bar list of the Mexican gold stored at the BOE. In February 2017 Banco de México delivered Barba a list, but it didn’t satisfy LBMA standards by far. Surely this was done on purpose, because how the list was distributed can never have been how the BOE keeps it. So prior to distribution parts of the list were edited. Barba pressured Banxico once more and received a new list in March 2017 (click here to download the list). But neither did the new list satisfy LBMA standards! The column in the list that reads “serial number”, doesn’t disclose the serial numbers physically inscribed on the bars, which makes them uniquely identifiable, but shows the BOE’s internal numbering. In my opinion Barba was fooled twice by Banxico. Or Banxico was fooled twice by the BOE.
These few simple facts, combined with the speculation from Bullion Star, point in the same direction as they always have. Central banksters, who have stolen the gold of each nation they occupy, have either sold the gold into the market, transferred it to another undisclosed vault or made a deal with one sovereign nation, like China, to transfer gold into their hands, for whatever reason, to remove gold from the Western monetary system altogether. This is not some pie-in-the-sky speculation, it began in 1974 through the efforts of Henry Kissinger as reported by Chris Powell, GATA:
I don’t kid myself that China is working for the benefit of us goldbugs here in the West. I think China is working for power for the Chinese government. Now, does the Chinese government want a higher gold price or a lower gold price or does the Chinese government just want to control the gold price as much as Western governments want to control it for different reasons? In 1974 Kissinger and his Deputy Secretary Thomas Enders discussed how the United States must persuade the European countries to keep moving gold out of the world financial system because whoever has the most gold controls it’s valuation and whoever controls golds valuation controls the valuation of government currencies. – Chris Powell, Shadow of Truth – Source
Does this mean China was been the recipient of all this gold “moving out the world financial system”? Of course not, but, then again… We can not say for sure, but what we can say is it seems to have moved from vaults it was being held “for safe keeping” to another location and physical gold morphed into a ledger entry/paper gold.
As more stress and strain are put upon the global economic and financial system, it is quiet possible we will learn the new location of the physical gold. Gold has been moving from one country to another, exiting the Federal Reserve in the U.S. and central banks in Europe, leaving them with only ledger entries labeled “gold.”
I’m stacking physical gold because all these liars, charlatans and thieves continue doing what they do best – lie and steal. Physical gold has real value and the people “behind the curtain” know this. I would bet an ounce of gold to an ounce of silver the kingpins of the global financial crimes against humanity have physical gold, and lots of it, stashed somewhere close at hand not at any central bank.
Rory Hall, The Daily Coin, where this article first appeared. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don’t forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.
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