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

How the Chinese Will Establish a New Financial Order

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For many years now, it’s been clear that China would soon be pull­ing the strings in the U.S. financial system.

In 2015, the American people owe the Chinese government nearly $1.5 trillion.

We are stuck with an enormous debt we can never realistically repay… And the Chinese are trapped with an outstanding loan they can neither get rid of, nor hope to collect. So the Chinese govern­ment is now taking a secret and somewhat radical approach.

China has recently put into place a covert plan to get back as much of its money as possible – by extracting colossal sums from both the United States government and ordinary citizens, like you and me. Continue reading

Gold Repatriation From Federal Reserve Would Shatter US Economic Hegemony

Repatriation of foreign gold reserves from the Federal Reserve would undermine the geopolitical role of the US economy in the world.

The largest gold reserve stored by the Fed belongs to Germany, at 674 tons. On the whole, the country holds nearly 3,500 tons of gold. However, both sides were content with the situation: the US received money for storage, and Germany knew its reserves were finely protected. Continue reading

Texas Launches Gold-backed Bank, Challenging Federal Reserve

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The State of Texas is setting up a gold-backed bank that will allow depositors to bypass the controversial Federal Reserve System and its fiat currency in banking and commerce, according to the state representative who authored the recently enacted law. Under the measure, passed overwhelmingly by lawmakers and signed in mid-June by Republican Governor Greg Abbott, Lone Star State officials will establish and operate the Texas Bullion Depository for anyone who would like to deposit and trade in precious metals. The implications are as big as Texas.

While some analysts have said the move may be another sign heralding Texas’ eventual secession from the union, or preparation for financial Armageddon, its advocates say the depository simply makes financial sense. Among other benefits, the institution will provide more options to consumers weary of the increasingly troubled traditional banking and monetary system, which is viewed by the public with growing suspicion. And experts say the effect of making it easier to use sound money in commerce could be far-reaching. Continue reading

ECB Strikes Back: Threatens With Greek Deposit Haircut If And When ELA Found To Be “Illegal” On Wednesday

The threats are flying fast and furious now.

Moments after the WSJ quoted a Greek official as saying that Greece will not make its IMF bond payment, the ECB struck back when Bloomberg reported that the ECB would review the legality of Greek aid should there not be a deal, i.e., on July 1 post an IMF default. According to Austrian central bank Governor and ECB member, Ewald Nowotny, on Wednesday’s governing council meeting the central bank will decide whether it can continue to provide emergency support for Greece once current bailout program expires June 30, as the Wiener Zeitung originally reported. Continue reading

Who’s Got the Gold?

In 1971, the US abruptly went off the gold standard, and in making the public announcement, US President Richard Nixon looked into the television camera and said, “We’re all Keynesians now.”

I was a young man at the time and had previously bought gold, albeit on a very small scale, but I recall looking into the face of this delusional man and thinking, “This is not good.”

However, the world at large apparently agreed with Mister Nixon, and within a few years, the other countries also went off the gold standard, which meant that, from that point on, no currency was backed by anything other than a promise.

Party Time Continue reading

Germany repatriates more gold: Bundesbank

Frankfurt (AFP) – The German central bank or Bundesbank said Monday that it stepped up the repatriation of its gold reserves from overseas storage last year.

“The Bundesbank successfully continued and further stepped up its transfers of gold,” the central bank said in a statement.

“In 2014, 120 tonnes of gold were transferred to Frankfurt from storage locations abroad: 35 tonnes from Paris and 85 tonnes from New York.” Continue reading

The Real Reason Why The Netherlands Repatriated Its Gold

It shouldn’t take a genius to see where this is going. They’re jumping ship before it sinks.

 

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President Knot of the Dutch Central Bank with ‘his’ gold.

 

In what could definitely be called a stunning move, the Netherlands has announced it has repatriated in excess of 120 tonnes of gold from the vaults of the Federal Reserve in New York to the Dutch Central Bank in Amsterdam. Officially a move made to rebalance the locations where the gold is being stored, one cannot ignore the fact that the Netherlands only repatriated a large part of the gold which was stored in New York and it did not touch the gold stored in Canada and London.

Additionally, it’s not just ‘some’ gold being brought back home, no, the total amount is 122.47 tonnes or almost 4 million ounces with a market value of $5B. This will reduce the exposure of the Dutch Central Bank to the US financial system as now just 31% of its gold is being stored in the vault of the Fed, coming down from 51%. We have the impression this won’t be the last repatriation as the Dutch Central Bank is keeping its shipping route secret ‘in case more gold needs to be repatriated’. Continue reading

Did Ukraine Just Airlift Its Entire Gold Hoard To The U.S. Fed?

Today an outspoken hedge fund manager out of Hong Kong stunned King World News when he said that the entire Ukrainian gold hoard may have just secretly been flown from Ukraine to the United States.  William Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, also spoke about the incredible implications of this astonishing development.  Below is what Kaye had to say in this powerful interview.

Kaye:  “There are now reports coming from Ukraine that all of the Ukrainian gold has been airlifted, at 2 AM Ukrainian time, out of the main airport, Boryspil Airport, in Kiev, and is being flown to New York — the presumable destination being the New York Fed….

“Now that’s 33 tons of gold which is worth somewhere between $1.5 billion – $2 billion.  That would amount to a very nice down payment to the $5 billion that Assistant Secretary of State Victoria Nuland boasted that the United States has already spent in their efforts to destabilize Ukraine, and put in place their own unelected  government.” Continue reading

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! Continue reading