Germany Finishes Bringing Gold Reserves Back From France

 

Berlin (AP) — Germany’s central bank says it’s completed a plan to repatriate gold reserves it stashed abroad during the Cold War three years ahead of schedule.

The Bundesbank said Wednesday that 91 metric tons (100.3 tons) of gold had been returned from Paris. Continue reading

Have Bundesbank Agents Infiltrated the Fed?

Chart 1

 

Germany’s central bank is the Bundesbank. Prior to the commencement of trading of the euro in January 1999, the Bundesbank conducted Germany’s monetary policy. The Bundesbank has a reputation for pursuing general price-level stability above all else. You might say that the Bundesbank has inflation phobia. The reason for this Bundesbank inflation phobia is the remembrance of the hyperinflation Germany experienced between World Wars I and II. Given the US central bank’s recent actions, it would almost seem that the Fed has developed inflation phobia too. Continue reading

Germany Is Taking Back Gold from the United States

The German Central Bank’s (Bundesbank) member of the board Carl-Ludwig Thiele presents gold bars during a press conference at the headquarters of the German Central Bank (Bundesbank) in Frankfurt, Germany on February 9, 2017. (Abdulselam Durdak/Anadolu Agency/Getty Images)

 

… and it’s ahead of schedule.


The German Central Bank announced on Jan. 16, 2013, that it would relocate the gold from New York to Frankfurt. This decision was made after the U.S. Federal Reserve refused to submit to an audit of German gold held in U.S. vaults. The Germans initially estimated it would take seven years to repatriate the gold, but in yesterday’s announcement, they revealed that they had completed the task four years ahead of schedule. Continue reading

Transatlantic Trade War

BERLIN/WASHINGTON (Own report) – In the looming trade war between the EU and the USA, Brussels is threatening to officially denounce the United States as a “tax haven.” The EU Commission is currently preparing this affront to the world power, following Washington’s strong criticism of Germany’s excessive trade surplus. In the six years, from 2010 to 2015 alone, this surplus has led to an outflow of nearly a quarter trillion euros to Germany from the United States because of the “grossly undervalued” euro, according to Trump’s trade advisor Peter Navarro. This has been confirmed by the Bundesbank’s recent analysis, showing that through its monetary policy the European Central Bank (ECB) has contributed to the euro’s undervaluation, which in turn has facilitated record German exports and the large US deficit. The trade conflict is flanked by a propaganda offensive against the Trump administration, exploiting the new US president’s racist and chauvinist policies to designate him as an enemy. This conflict could lead to the first major power struggle between Germany and the United States since 1945. Continue reading

On the Road to Autonomy

BERLIN/WASHINGTON (Own report) – Recent media reports have, for the first time, disclosed US American interference in German business deals with recalcitrant countries. US authorities intervene directly, if German companies carry out financial transactions, for example, with Iran. Repeatedly, Washington has successfully blocked business deals – even though they had been legal in Germany – and had the respective employees and board members fired from their jobs, using the justification that (German) companies with sites in the USA are subject to US law. This also applies to bilateral US sanctions imposed, for example, on Iran. This means that Washington actually succeeds in transposing US domestic law onto other countries, including Germany. The most recent example: Washington is considering a veto on a Chinese company’s taking over Aixtron, a German chip equipment manufacturer. President Obama is expected to announce his decision today, Friday. These US-practices have been disclosed at a time of political transition, as Berlin is reinforcing its efforts to create an EU armed forces, to achieve “strategic autonomy” and become a world power. This arrogant US interference in the German-European economy is a taboo that cannot be tolerated on the road toward the long anticipated “superpower Europe.”

European Central Bank gold reserves held across 5 locations. ECB will not disclose Gold Bar List.

Table 1: Central bank FX and Gold transfers to the ECB, January 1999

 

The European Central Bank (ECB), creator of the Euro, currently claims to hold 504.8 tonnes of gold reserves. These gold holdings are reflected on the ECB balance sheet and arose from transfers made to the ECB by Euro member national central banks, mainly in January 1999 at the birth of the Euro. As of the end of December 2015, these ECB gold reserves were valued on the ECB balance sheet at market prices and amounted to €15.79 billion. 

The ECB very recently confirmed to BullionStar that its gold reserves are stored across 5 international locations. However, the ECB also confirmed that it does not physically audit its gold, nor will it divulge a bar list / weight list of these gold bar holdings.

Questions and Answers

BullionStar recently put a number of questions to the European Central Bank about the ECB’s gold holdings. The ECB Communications Directorate replied to these questions with answers that appear to include a number of facts about the ECB gold reserves which have not previously been published. The questions put to the ECB and its responses are listed below (underlining added): Continue reading

German Pension Crisis the Same as Japan & USA

The Pension Crisis continues to spiral out of control and the central banks are incapable to reversing their policy. Raising rates now will cause budgets to explode and all the bonds they bought would collapse in price no less become totally unsalable. Now in Germany, the Bundesbank has addressed this crisis advising that the population must now work long term before receiving a pension and they must endure significantly higher pension contributions. In its monthly report published this week, the German central bank recommended increasing the retirement age to 69 years until 2060. They bluntly said that the federal government should not hide the fact that “further adjustments are inevitable.” Continue reading

Billions in Gold Is Stashed… Under the Streets of New York?

As of 2008, the Federal Reserve Bank of New York housed $200 billion worth of the precious metal, according to ABC News reporter Scott Mayerowitz. In his report, Mayerowitz stated there were roughly 540,000 gold bars in the vault…

More than can be found in Fort Knox.

In fact, this particular vault contains almost 25% of the world’s gold reserves.

Of that amount, very little actually belongs to the United States. The 540,000 gold bars in the vault belong to 48 foreign central banks, as well as 12 international organizations.

Only 5% of the United States’ gold is stored there. Continue reading

German ‘bail-in’ plan for government bonds risks blowing up the euro

Quick reminder: “Bail-out” means the government bails the banks out, whereas “bail-in” means the citizens pick up the tab. Germany’s Fourth Reich is once again forcing its will upon the EU.

 

‘If I were a politician in Italy, I’d want my own currency as fast as possible: that is the only way to avoid going bankrupt,’ said German ‘Wise Man’

A new German plan to impose “haircuts” on holders of eurozone sovereign debt risks igniting an unstoppable European bond crisis and could force Italy and Spain to restore their own currencies, a top adviser to the German government has warned.

“It is the fastest way to break up the eurozone,” said Professor Peter Bofinger, one of the five “Wise Men” on the German Council of Economic Advisers.

Continue reading

Update on Bundesbank Gold Repatriation 2015

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Source: Bundesbank

 

Deutsche Bundesbank has just released a progress report on its gold bar repatriation programme for 2015 – “Frankfurt becomes Bundesbank’s largest gold storage location“.

As a reminder, the Bundesbank is engaged in an unusual multi-year repatriation programme to transport 300 tonnes of gold back to Frankfurt from the vaults of the Federal Reserve Bank of New York (FRBNY), and simultaneously to bring back 374 tonnes of gold back to Frankfurt from the vaults of the Banque de France in Paris. This programme began in 2013 and is scheduled to complete by 2020. I use the word ‘unusual’ because the Bundesbank could technically transport all 674 tonnes of this gold back to Frankfurt in a few weeks or less if it really wanted to, so there are undoubtedly some unpublished limitations as to why the German central bank has not yet done so. Continue reading

Bundesbank “Reassures” Re. Gold Bullion Reserves as Deutsche Bank Shocks With €6 Billion Loss Warning

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The central bank said its gold reserves amount to 3,384 tonnes of gold worth just €107 billion at today’s prices.

The move is the latest by the central bank, which is in the process of trying to move its gold reserves back to Germany after the eurozone sovereign debt crisis broke out in 2012 and led to public concerns and questions about the safety of Germany’s gold reserves. Continue reading

Germany’s Weidmann to head BIS

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The influential Bank for International Settlements is the coordinating body for the world’s most powerful central banks. It has elected the head of Germany’s central bank as its new chairman. Is a policy shift coming?

Germany’s central bank president Jens Weidmann will become the new board chairman of the Bank for International Settlements (BIS), the bank announced on Monday. Continue reading

Central Banker Urges Lying To The Public About Bank Health

For years, many – and certainly this website – had mocked both European and US stress tests as futile exercises in boosting investor and public confidence, which instead of being taken seriously repeatedly failed to highlight failing banks such as Dexia, Bankia and all the Greek banks, in the process rendering the exercise a total farce. The implication of course, is that regulators, thus central bankers, openly lied to the public over and over just to preserve what little confidence in the system has left.

Now we know that far from merely another “conspiracy theory”, this is precisely the policy intent behind the “stress tests” – as Reuters reports citing a paper co-authored by a Bundesbank economist, “banking supervisors should withhold some information when they publish stress test results to prevent both bank runs and excessive risk taking by lenders.”

In other words: lie. Continue reading

The Brussels Agreement

BERLIN/ROME/PARIS (Own report) – In several western and southern European countries, the agreement on Greece reached in Brussels signals a looming collapse of the continental post-war order and Germany’s revival as an ostentatious dictatorial power. Whereas social-democratic observers do not exclude an attenuation of the contradictions, southern European conservative media are among those who speak of a revival of German hegemonic ambitions, which had largely determined or triggered the First and Second World Wars. The consequences of the French-Italian submission during negotiations in Brussels are generating those fears, because Paris had not succeeded to and Rome had not even seriously attempted to thwart the German dictates of sovereignty over Greece. Both, Italy and France are aware of the dangers of becoming the next victim of German financial dictatorship. They are competing for admission in a northern European core Europe, whose membership will be decided by Berlin, in the case of a possible collapse of the European Union. Current events are directly linked to German foreign policy endeavors in the 1990s and the territorial expansion of Germany’s economic basis through the so-called reunification.

Continue reading

Grexit to Create Huge ‘Holes’ in German Budget – German Newspaper

Finance Minister Schäuble earlier asserted that the Greek crisis will have no serious consequences for the federal budget. However, President of the German Federal Bank Jens Weidmann views the situation in a different way.

Greece’s withdrawal from the Eurozone is likely to create huge ‘holes’ in the federal budget planned by German Finance Minister Wolfgang Schäuble (CDU). Continue reading