#3127371 - 01/16/13 07:37 PM
Germany wants their gold back...
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FLTENNHUNTER1
16 Point
Registered: 11/21/07
Posts: 14531
Loc: Tampa FL
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This is not good boys, not good at all.
http://www.zerohedge.com/contributed/2013-01-16/what-do-german-central-bankers-know-we-dont
Ben Bernanke and the rest of the US Federal Reserve bet the farm that they could engage in countless monetary interventions, keep interest rates at zero, and print over $2 trillion in new money without damaging the US’s credibility.
They were wrong. Indeed, Germany just fired a major warning shot to the US Federal Reserve.
On Monday, Germany announced that it will be moving a significant portion of its Gold reserves out of storage with the New York Fed and moving them back to Germany.
A few background details.
Germany has the second largest Gold reserves in the world behind the US.
Since the early ‘80s, Germany has stored the largest portion of its Gold reserves with the New York Fed (45% vs. 13% in London, 11% in Paris and the remaining 31% in Frankfurt).
In the fall of last year, German officials began raising the issue of auditing its reserves at the NY Fed.
Why would Germany suddenly decide that it wants to change a policy it has had in place for over 30 years?
More importantly, how did it go from wanting to audit its reserves to actually removing them from the NY Fed’s care?
In simple terms, Germany has just announced that it doesn’t trust the US Fed.
Edited by FLTENNHUNTER1 (01/16/13 07:38 PM)
_________________________
The Second Amendment - George Washington didn't use free speech to defeat the British, he shot them.
"If there must be trouble, let it be in my day, that my child may have peace." - Thomas Paine
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#3127391 - 01/16/13 07:44 PM
Re: Germany wants their gold back...
[Re: FLTENNHUNTER1]
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Stalkhunter
10 Point
Registered: 07/17/11
Posts: 2746
Loc: Knoxville TN
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Unrest is in the wind
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Semper Fi
Time For the Old Devildogs to come out and fight
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#3127554 - 01/16/13 09:19 PM
Re: Germany wants their gold back...
[Re: Stalkhunter]
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KillMode
4 Point
Registered: 10/10/12
Posts: 184
Loc: Nashville, TN
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Wow..
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#3127569 - 01/16/13 09:26 PM
Re: Germany wants their gold back...
[Re: KillMode]
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Pic IN the Casa
12 Point
Registered: 03/18/11
Posts: 5869
Loc: TN
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The Kenyan will just borrow money from the Chinese.
_________________________
Everyone who does evil hates the light, and will not come into the light for fear that their deeds will be exposed. John 3:20
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#3127581 - 01/16/13 09:29 PM
Re: Germany wants their gold back...
[Re: Pic IN the Casa]
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Mudbone
8 Point
Registered: 10/24/11
Posts: 1626
Loc: Williamson cty. Tn
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Uhoh!!!!
I am afraid it will get ugly in the next few years.
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#3127587 - 01/16/13 09:31 PM
Re: Germany wants their gold back...
[Re: Mudbone]
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Pic IN the Casa
12 Point
Registered: 03/18/11
Posts: 5869
Loc: TN
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You would be correct Mudbone. I am seriously debating cashing out of 401k's and taking the penalty. Gold and silver will be king. The dollar will be as useless as a spent casing.
_________________________
Everyone who does evil hates the light, and will not come into the light for fear that their deeds will be exposed. John 3:20
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#3127628 - 01/16/13 09:45 PM
Re: Germany wants their gold back...
[Re: Pic IN the Casa]
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WestTn Huntin'man
16 Point
Registered: 11/19/06
Posts: 10867
Loc: Benton Co.
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You would be correct Mudbone. I am seriously debating cashing out of 401k's and taking the penalty. Gold and silver will be king. The dollar will be as useless as a spent casing.
All things metal will have value at some point. I'd hold on to Brass weather you reload or not.
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#3127656 - 01/16/13 10:00 PM
Re: Germany wants their gold back...
[Re: Pic IN the Casa]
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OHVATN
4 Point
Registered: 10/09/12
Posts: 148
Loc: Middle TN
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The Kenyan will just borrow money from the Chinese.
Don't think so. The Chinese have become net sellers of US Treasuries. The Federal Reserve is now the largest holder of Treasuries and buying upper than half of monthly issuance.
The Dutch also announced today they are going to repatriate their gold.
Russia warned today a currency war is breaking out. That's old news.
Bill Gross agrees with Zero Hedge that this is a signal that the central banks are losing trust in each other. Check out Jim Sinclair's site and his thoughts on this momentous development. This is huge. The end game has commenced.
Everyone, you must check Zero Hedge multiple times a day. They are breaking these stories months before the mainstream media (if they even cover this stuff). Very educational as well.
Great post FLTNHUNTER.
_________________________
"How did you go bankrupt?" Bill asked. "Two ways," Mike said. "Gradually and then suddenly." The Sun Also Rises, Ernest Hemingway.
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#3127661 - 01/16/13 10:03 PM
Re: Germany wants their gold back...
[Re: Pic IN the Casa]
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OHVATN
4 Point
Registered: 10/09/12
Posts: 148
Loc: Middle TN
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You would be correct Mudbone. I am seriously debating cashing out of 401k's and taking the penalty. Gold and silver will be king. The dollar will be as useless as a spent casing.
Agree. I'm so upset that I lost mine in that boating accident.
_________________________
"How did you go bankrupt?" Bill asked. "Two ways," Mike said. "Gradually and then suddenly." The Sun Also Rises, Ernest Hemingway.
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#3127691 - 01/16/13 10:39 PM
Re: Germany wants their gold back...
[Re: OHVATN]
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Pic IN the Casa
12 Point
Registered: 03/18/11
Posts: 5869
Loc: TN
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Online
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The Kenyan will just borrow money from the Chinese. Don't think so. The Chinese have become net sellers of US Treasuries. The Federal Reserve is now the largest holder of Treasuries and buying upper than half of monthly issuance. The Dutch also announced today they are going to repatriate their gold. Russia warned today a currency war is breaking out. That's old news. Bill Gross agrees with Zero Hedge that this is a signal that the central banks are losing trust in each other. Check out Jim Sinclair's site and his thoughts on this momentous development. This is huge. The end game has commenced. Everyone, you must check Zero Hedge multiple times a day. They are breaking these stories months before the mainstream media (if they even cover this stuff). Very educational as well. Great post FLTNHUNTER.
That was a joke regarding how willy-nilly the Kenyan administration treats debt.
_________________________
Everyone who does evil hates the light, and will not come into the light for fear that their deeds will be exposed. John 3:20
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