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Saturday, August 31, 2013
Uh Oh: United States Federal Reserve Won't Allow Germany To Repatriate of Even See It's Stored Gold
RT. not surprising that it's the only news channel repeating this rumor since its Putin's official English language propaganda BS channel and runs with anything that sounds like "the US is doomed, and all those who are allied with her."
The story about Germany wanting SOME of their gold back is not bogus. That part of it is fine. But the conspiracy theories surrounding the gold that range from "the gold has disappeared" to "the gold is loaned away" (as Der Spiegel recounted as well) are bogus if nothing else.
I think you know that I don't easily buy into conspiracy theories without evidence and the two links you provided do not provide any evidence as to whether the gold is lost or not. Der Spiegel says the Fed has strict rules about allowing parties to see gold. And yes, I wouldn't expect them to allow just anyone to walk into the place and start inspecting, whether it be their gold or not.
When was the last time you walked into your bank and required that you be walked into the vault and showed the hard cash since your bank statement said you had a certain amount of dollars?
Banks have safeguards, whether for good or bad, doesn't matter. THey have safeguards and some crazy German MP (who sounds like the German version of George Galloway) claims that those "safeguards" mean the gold has disappeared. Yeah, I find that about as crazy and bogus as everything that comes out of Galloway's mouth.
Now, Der Spiegel themselves said that a team was allowed to inspect gold in one of the vaults and that they are planning on weighing that gold. RT turned that around to "Gold Gone? Germany baffled as Fed bars access to bullion." (Really? German government's official position is that of bafflement?) Let's see. A team being allowed to see the gold in one of the vaults does not equal barring access.
Its easy to sell conspiracy theories, especially when "big bad banks" are involved. But in terms of evidence, I see about zero that says that the gold is gone, or even that Germany has been barred from their gold.
Another story is that the Fed said to Germany "nuh uh, no gold until 2020" whereas the Bloomberg story quoted by WP says that Germany is going to repatriate some of their gold BY 2020. Which makes perfect sense since transporting gold isn't easy and is also expensive. They have to make sure it remains safe. It took them decades to store their gold in the vaults that they are in, I wouldn't be surprised one bit if it takes them some 7 years to bring some of it back.
Oh and by the way, this gold is from New York and Paris both (I can hear the conspiracy theorists thinking: "But the Rothschild family that created the Federal Reserve...control the whole world and all the banks within" Yeah I even wasted time watching a "documentary" on this conspiracy garbage.).
In the end, all I see is a crazy German MP crying wolf. And RT is riding on that conspiracy theory as if it were Gospel because hey "Don't trust the US, see what happens? The gold is POOFFF".
Oh and I do think any bank would be "against" any country taking back their gold because I am assuming that means lost business.
I had a hard time closing my account in Dubai, and I didn't even have that much money in it, its all the more worse for the Fed to lose that gold because I don't think they store it for free?
I could be wrong on that front, but it sounds like bad for business if they lost that gold and since banks are primarily to make money, I would call the Fed a bad bank if they were a little too happy to get rid of something that makes them money.
What the Der Spiegel article says is they were allowed in to weigh a few of the bars.
So, what you're saying is this all seems reasonable policy to you for a state like Germany who have almost 1600 tons of gold stored with our nation.
If it's reasonable, it's reasonable.
How would I know? I'm not a banker.
If I was one of the riches people in the world, and some guy ten times richer than me said, hey, I'll take 1/10th of your wealth and put it in my house for safe-keeping, and then when I asked to see it, he said, you can see a little bit of it, I might freak out too.
What the Der Spiegel article says is they were allowed in to weigh a few of the bars.
This is what I was referring to about them planning on weighing all the gold in one of the chambers.
From Der Spiegel:
"Furthermore, there are plans to count and weigh the gold bars stored in one of the nine chambers at the Fed in New York -- although no date has been set for this."
So, what you're saying is this all seems reasonable policy to you for a state like Germany who have almost 1600 tons of gold stored with our nation.
No what I am saying is that it seems like reasonable policy to me for any state. Relationship with a bank is built on trust. We bank the same way in our daily lives. You can't barge into the vault anytime you'd like.
How would I know? I'm not a banker.
I worked for Mashreq bank in Dubai. Even the chairman himself (Abdul Aziz Al Ghurair) wasn't allowed to go into any of the vaults. And Mashreq bank is a non entity as compared to the Federal Reserve.
If I was one of the riches people in the world, and some guy ten times richer than me said, hey, I'll take 1/10th of your wealth and put it in my house for safe-keeping, and then when I asked to see it, he said, you can see a little bit of it, I might freak out too.
Well yeah, if it was someone's house they were storing stuff in, I get it.
Secondly, it appears that Germany is not freaking out. Its only one of the MPs who's hell bent on trying to prove something is wrong with the gold who's all freaked out.
Anyway, is it possible that the Fed stole all the gold? Yes, it is possible. But to me it sounds as plausible as the claims that the CIA and the Jews perpetrated 9/11. Loose Change and Fahrenheit 9/11 were sold as documentaries to the public and many believe them to be the real truth behind a huge government conspiracy.
Last time I checked, Fed conspiracies were just as popular as government and Jewish related conspiracies.
You write - I worked for Mashreq bank in Dubai. Even the chairman himself (Abdul Aziz Al Ghurair) wasn't allowed to go into any of the vaults. And Mashreq bank is a non entity as compared to the Federal Reserve.
I respond - well then you have a lot more knowledge about this than I have.
:)
You write - Last time I checked, Fed conspiracies were just as popular as government and Jewish related conspiracies. Or am I not making any sense?
I too saw that video and went digging. Seems bull. The Bundesbank is repatriating some of it's gold but only about 50 tons a year because of the cost and hassle and the fact that it might have to be re-refined, its purity is suspect and they want it to London delivery standards. The Bundesbank called to reports bunk.
14 comments:
Again?
This has been going on since last year.....Something stinks.
RT. not surprising that it's the only news channel repeating this rumor since its Putin's official English language propaganda BS channel and runs with anything that sounds like "the US is doomed, and all those who are allied with her."
Nicoenarg
No nico, i've posted about this before even with der spiegel mentioning a german MP not being allowed to inspect the gold reserves.
Will,
I hadn't seen where you'd posted it. Do you have a link to your post that I can go to?
Nicoenarg
http://www.spiegel.de/international/germany/german-politicians-demand-to-see-gold-in-us-federal-reserve-a-864068.html
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/16/why-germany-wants-its-674-tons-of-gold-back/
Let me know if you think this story is false, or groundless, or not false, or at least not groundless.
I don't think there is any indication that it is a groundless story. It might be false, but not groundless.
Thanks for the links Pasto.
The story about Germany wanting SOME of their gold back is not bogus. That part of it is fine. But the conspiracy theories surrounding the gold that range from "the gold has disappeared" to "the gold is loaned away" (as Der Spiegel recounted as well) are bogus if nothing else.
I think you know that I don't easily buy into conspiracy theories without evidence and the two links you provided do not provide any evidence as to whether the gold is lost or not. Der Spiegel says the Fed has strict rules about allowing parties to see gold. And yes, I wouldn't expect them to allow just anyone to walk into the place and start inspecting, whether it be their gold or not.
When was the last time you walked into your bank and required that you be walked into the vault and showed the hard cash since your bank statement said you had a certain amount of dollars?
Banks have safeguards, whether for good or bad, doesn't matter. THey have safeguards and some crazy German MP (who sounds like the German version of George Galloway) claims that those "safeguards" mean the gold has disappeared. Yeah, I find that about as crazy and bogus as everything that comes out of Galloway's mouth.
Now, Der Spiegel themselves said that a team was allowed to inspect gold in one of the vaults and that they are planning on weighing that gold. RT turned that around to "Gold Gone? Germany baffled as Fed bars access to bullion." (Really? German government's official position is that of bafflement?) Let's see. A team being allowed to see the gold in one of the vaults does not equal barring access.
Its easy to sell conspiracy theories, especially when "big bad banks" are involved. But in terms of evidence, I see about zero that says that the gold is gone, or even that Germany has been barred from their gold.
Another story is that the Fed said to Germany "nuh uh, no gold until 2020" whereas the Bloomberg story quoted by WP says that Germany is going to repatriate some of their gold BY 2020. Which makes perfect sense since transporting gold isn't easy and is also expensive. They have to make sure it remains safe. It took them decades to store their gold in the vaults that they are in, I wouldn't be surprised one bit if it takes them some 7 years to bring some of it back.
Oh and by the way, this gold is from New York and Paris both (I can hear the conspiracy theorists thinking: "But the Rothschild family that created the Federal Reserve...control the whole world and all the banks within" Yeah I even wasted time watching a "documentary" on this conspiracy garbage.).
In the end, all I see is a crazy German MP crying wolf. And RT is riding on that conspiracy theory as if it were Gospel because hey "Don't trust the US, see what happens? The gold is POOFFF".
Nicoenarg
Oh and I do think any bank would be "against" any country taking back their gold because I am assuming that means lost business.
I had a hard time closing my account in Dubai, and I didn't even have that much money in it, its all the more worse for the Fed to lose that gold because I don't think they store it for free?
I could be wrong on that front, but it sounds like bad for business if they lost that gold and since banks are primarily to make money, I would call the Fed a bad bank if they were a little too happy to get rid of something that makes them money.
Nicoenarg
What the Der Spiegel article says is they were allowed in to weigh a few of the bars.
So, what you're saying is this all seems reasonable policy to you for a state like Germany who have almost 1600 tons of gold stored with our nation.
If it's reasonable, it's reasonable.
How would I know? I'm not a banker.
If I was one of the riches people in the world, and some guy ten times richer than me said, hey, I'll take 1/10th of your wealth and put it in my house for safe-keeping, and then when I asked to see it, he said, you can see a little bit of it, I might freak out too.
What the Der Spiegel article says is they were allowed in to weigh a few of the bars.
This is what I was referring to about them planning on weighing all the gold in one of the chambers.
From Der Spiegel:
"Furthermore, there are plans to count and weigh the gold bars stored in one of the nine chambers at the Fed in New York -- although no date has been set for this."
So, what you're saying is this all seems reasonable policy to you for a state like Germany who have almost 1600 tons of gold stored with our nation.
No what I am saying is that it seems like reasonable policy to me for any state. Relationship with a bank is built on trust. We bank the same way in our daily lives. You can't barge into the vault anytime you'd like.
How would I know? I'm not a banker.
I worked for Mashreq bank in Dubai. Even the chairman himself (Abdul Aziz Al Ghurair) wasn't allowed to go into any of the vaults. And Mashreq bank is a non entity as compared to the Federal Reserve.
If I was one of the riches people in the world, and some guy ten times richer than me said, hey, I'll take 1/10th of your wealth and put it in my house for safe-keeping, and then when I asked to see it, he said, you can see a little bit of it, I might freak out too.
Well yeah, if it was someone's house they were storing stuff in, I get it.
Secondly, it appears that Germany is not freaking out. Its only one of the MPs who's hell bent on trying to prove something is wrong with the gold who's all freaked out.
Anyway, is it possible that the Fed stole all the gold? Yes, it is possible. But to me it sounds as plausible as the claims that the CIA and the Jews perpetrated 9/11. Loose Change and Fahrenheit 9/11 were sold as documentaries to the public and many believe them to be the real truth behind a huge government conspiracy.
Last time I checked, Fed conspiracies were just as popular as government and Jewish related conspiracies.
Or am I not making any sense? :/
Nicoenarg
You write - I worked for Mashreq bank in Dubai. Even the chairman himself (Abdul Aziz Al Ghurair) wasn't allowed to go into any of the vaults. And Mashreq bank is a non entity as compared to the Federal Reserve.
I respond - well then you have a lot more knowledge about this than I have.
:)
You write - Last time I checked, Fed conspiracies were just as popular as government and Jewish related conspiracies.
Or am I not making any sense?
I respond - no, you're making perfect sense.
thanks.
I too saw that video and went digging. Seems bull. The Bundesbank is repatriating some of it's gold but only about 50 tons a year because of the cost and hassle and the fact that it might have to be re-refined, its purity is suspect and they want it to London delivery standards. The Bundesbank called to reports bunk.
Well, though it may seem stupid, I'm glad I posted it. I have learned something.
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