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.

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.

Update on Bundesbank Gold Repatriation 2015

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674 tonnes of this gold back to Frankfurt in a few weeks or less if it really wanted to, so there are undoubtedly some unpublished limitations as to why the German central bank has not yet done so.

Jim Rickards: China likely has accumulated 2,000 — 3,000 tonnes of gold reserves!

The Daily Ticker’s Lauren Lyster interviewed Jim Rickards regarding the Bundesbank’s recent announcement that it will repatriate over 600 tons of German gold from the NY Fed and the Bank of France, and its implications on the gold market over the short and long term.

Rickards stated that the Bundesbank’s gold repatriation is world historical, is massively bullish for gold, and believes that China has doubled to tripled its gold reserves since the last official statement of 1,054 tonnes in 2009!

Germany’s Entire Gold Hoard At The Fed May Already Be Gone

Today a legend in the business told King World News, “… the German gold hoard, which is supposed to be stored at the Fed, may already be gone.”  Keith Barron, who consults with major companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, also believes countries like Germany, Austria, and others are in serious danger of having claims on their gold stored at the Fed evaporate.

Here is what Barron had to say:  “This has been happening for quite some time.  In fact, I can remember hearing 6 or 7 years ago that Gaddafi wanted all of his gold back from New York.  There were several tons going on a transport plane out of New York once a week to Libya.”

“He (Gaddafi) just didn’t trust any other government with it.  Of course we all know what happened to him eventually.  His gold has kind of gone missing (appropriated), and nobody knows where it is now.  This is the problem the Germans, Austrians, and various other countries are facing.