A tidal wave of gold repatriations may have begun. As speculated in my last post, I raised a concern that should be shared with all western Central bankers…a widespread flood of countries demanding their gold back to their home soils.
This notion sounds logical to any sane individual, but to a central banker who is gold negative, this is their worst nightmare. To understand why, you need to step back and see the big picture, which shows the stark reality of how rare gold truly is and how little of it remains in western vaults, despite what the mainstream media would have you believe.
First it was Germany, then it was the Dutch. Soon it could be Switzerland depending on the results of their gold repatriation referendum, which central bankers are nervously awaiting the results. Now, there is France.
Marine Le Pen, the leader of the French right-wing Front National party, and who is currently leading in preliminary polls, ahead of president Hollande, wrote a letter to the Central bank of France, which detailed a list of demands.
These demands have set central bankers on edge, as they are anything but friendly to their current fiat power structure and which include the following:
- Urgent repatriation of all of our gold reserves located abroad back to French soil
- An immediate discontinuation of any gold sales program
- Conversely, a gradual reallocation of a significant portion of foreign exchange reserves in the balance sheet of the Bank of France by buying gold at each significant decrease in the price of an ounce (with a recommendation of 20%)
- A suspension of any financial commitment or loan contract of our gold reserves
- At the patrimonial and financial balance of the 2004 gold sales transactions ordered by N. Sarkozy
Given this fact, you can expect a strong, organized effort to discredit and bring her popularity down. Western central bankers know how fragile their current fiat system is. Their power rests predominately in their ability to print endless amounts of funny money out of thin air, and gold is their Achilles heel.
Remember, France is no minor player in the gold market scene. They “officially” hold the fourth largest gold reserve in the World. We aren’t talking about a couple of tons, we are talking about thousands of tons!
The question is how long can the manipulators keep their boat afloat? Leaks are springing up in all directions and they are running out of plugs. The rising price of gold is a tidal wave that no one can stop. It is only a matter of time before the free market unleashes itself and sets the price free. Until then, sit tight and continue to be right.
Full article: A Tidal Wave of Gold Repatriations Could be Unleashed (Nathan McDonald | Sprott Money News)