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

Italy threatens EU: ‘Sort out migrant mess you caused or get hurt’

Rome has warned of retaliatory measures unless the EU changes its asylum policies to make them more in “solidarity” with Italy, which continues to struggle with an enormous inflow of mostly North African migrants.

“If the European Council chooses solidarity, then good. If it doesn’t, we have a Plan B ready but that would be a wound inflicted on Europe,” Prime Minister Matteo Renzi said, without elaborating on the details. Continue reading

Repatriation of Gold from Fed Suggests Historic Vote of No Confidence

Since 2012, there’s been an unprecedented call from foreign nations to repatriate their gold from Federal Reserve vaults in the U.S. This is an incredible development given many countries’ 71-year reliance on the Fed as a custodian for their bullion. Over the last few years, countries including, but not limited to, Germany, the Netherlands, France, Belgium, Austria, Poland, Ecuador, Finland, Switzerland, Venezuela, and Romania have either formally requested repatriation of their gold or are in discussions with the Fed about it. Some of these nations, mind you, have held more than 50% of their entire reserves of bullion in the U.S. since 1944, when the Dollar became the world’s reserve currency.

Something huge must have happened in the last few years to prompt such action. That something may be a break in foreign gold holders’ trust in the Fed as a custodian of their precious metals. Continue reading

Obama Deputies Free 30,862 Foreign Criminals

President Barack Obama’s immigration deputies released 30,862 foreign criminals into the United States’ cities and neighborhoods, according to a federal document.

The document also showed that Obama repatriated less than 1 percent of the 12 million illegals living in the United States during the 12 months up to October 2014.

Officials also repatriated only 8,805 of the roughly 180,000 unskilled Central American migrants who flooded across the border since 2011, according to the “Fiscal Year 2014 ICE Enforcement and Removal Operation Report.”

Immigration enforcement has been destroyed by this President,” Sen. Jeff Sessions said in a Dec. 5 statement. 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.

 

Klaas Knot DNB

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