Germany to Review Bundesbank Gold Reserves: Update

“The Germans will be in shock when they find that close to 1/2 gold has disappeared through leasing and the other half will be compromised.”
Harvey Organ

“We believe that in the year 2000 the USA orchestrated a swap with the Bundesbank for 1700 tonnes of gold stored at West Point, which is 30 miles north of New York City. The Germans took possession of the gold at West Point and the USA took the Bundesbank gold at Frankfurt. The USA used the German gold in their suppression scheme (they leased this gold).  The German gold was certainly good delivery bars and the location was certainly close to England, the centre of all physical gold trade.  The West Point gold may have been good delivery or most likely official gold coin melt. It was Germany that asked for the Washington accord as it was alarmed at the huge leasing of gold from its own Deutsche Bank.  It wanted to limit the amount of leased gold on the market as they feared this gold would never be recalled.

Germany has to credit almost 3400 tonnes of gold and never announced any sale except for 3 tonnes to make gold coins during these past 10 years. When the audit finally arrives, we will probably see that the gold that was sent to London was probably leased as was the gold under the Seine River at the Bank of France.

The gold at the Federal Bank of NY is earmarked gold and it stores mostly foreign gold entities, very little USA owned gold. From 2002 until 2005 the Federal Reserve Bank of NY saw some of their gold repatriated but in the year 2006 that stopped.  No gold has left NY since then.

Most likely much of the gold at West Point may have been moved to NY. I would guess that altogether, New York would have around 2000 tonnes of total gold belonging to Germany.  Germany want this gold back. Good luck to them, as the USA will never send this back.”

Source: – Greece/Student Loans/German manufacturing down/Germany ‘reviewing their gold reserves’/ Huge margin calls now on ECB books/ , March 7, 2012

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