Jayman Posted October 25, 2012 Share Posted October 25, 2012 (edited) In my mind such an image triggers a rather old and questionable statement "the higher the walls the saver the gold". I have to admit I've never heard that before and honestly don't know what it means. I googled it and got No results found for "the higher the walls the saver the gold". perhaps you have mistranslated it? I also tried it like this No results found for "the higher the walls the safer the gold". Edited October 25, 2012 by Jayman Link to comment Share on other sites More sharing options...
jacnl2000 Posted October 25, 2012 Share Posted October 25, 2012 In my mind such an image triggers a rather old and questionable statement "the higher the walls the saver the gold". I have to admit I've never heard that before and honestly don't know what it means. I googled it and got No results found for "the higher the walls the saver the gold". perhaps you have mistranslated it? I also tried it like this No results found for"the higher the walls the safer the gold". Elaborate some of my thoughts ? Fair enough. In contrast to the apparently more open Dutch storage system of gold bars, the German one presented by the Welt does not offer easy access and reminds me of walls of old castles. Not even giants like Sultan Koesen are capable of reaching the upper row of easy accessible gold bars. Link to comment Share on other sites More sharing options...
Jayman Posted October 25, 2012 Share Posted October 25, 2012 (edited) In contrast to the apparently more open Dutch storage system of gold bars, the German one presented by the Welt does not offer easy access and reminds me of walls of old castles. Not even giants like Sultan Koesen are capable of reaching the upper row of easy accessible gold bars. Looks like the call for transparency is spreading.. now the Netherlands are trying to get more answers about their gold. http://www.nd.nl/art...ij-goudvoorraad Almost 300 "concerned Netherlands citizens" have joined the German initiative for insight about the gold reserves. In a petition the citizens committee demands "full openness on the quantity and storage location of the Netherlands' physical gold, and on the extent and nature of the gold claims." In Germany a lot of uneasiness has risen about the quantity, value, and quality of the gold reserves, which have not been audited in many years at various storage locations. Led by the tabloid newspaper Bild, German news media are wondering whether the 3.4-million kilograms of ingots are really there (valued at about E150 billion). Under pressure from the German federal audit office, part of the gold stock will be repatriated from the United States to Frankfurt. Edited October 25, 2012 by Jayman Link to comment Share on other sites More sharing options...
binjalin Posted October 25, 2012 Share Posted October 25, 2012 Buy: ฿24850 Sell: ฿24950 Last Update: 2012-10-24 11:35 Price Change: -150 ฿22000-23000 in 2-3 months and am buying back:) me too hoping for 22000 ish and get back after selling off at highest mark - well that's the plan I mean it could go to 28000 and we look fools... only the tooth fairy knows Link to comment Share on other sites More sharing options...
Naam Posted October 26, 2012 Share Posted October 26, 2012 Associated Press report appended here, the German gold audit story has just exploded into the English-language press with some important revelations -- The gold vaulted by the German central bank, the Bundesbank, with the Bank of England "has fallen 'below 500 tons' due to recent sales and repatriations. ..." So despite the lack of official announcement, Germany lately has been selling gold from London -- perhaps as part of the secret "strategic activities" grudgingly acknowledged two years ago by the Bundesbank to GATA's friend, the German financial journalist Lars Schall usual assumption out of thin air that repatriations are a sign that gold was sold. the later is anyway impossible as every child knows by now that central banks don't sell but buy gold Link to comment Share on other sites More sharing options...
midas Posted October 26, 2012 Share Posted October 26, 2012 (edited) Associated Press report appended here, the German gold audit story has just exploded into the English-language press with some important revelations -- The gold vaulted by the German central bank, the Bundesbank, with the Bank of England "has fallen 'below 500 tons' due to recent sales and repatriations. ..." So despite the lack of official announcement, Germany lately has been selling gold from London -- perhaps as part of the secret "strategic activities" grudgingly acknowledged two years ago by the Bundesbank to GATA's friend, the German financial journalist Lars Schall usual assumption out of thin air that repatriations are a sign that gold was sold. the later is anyway impossible as every child knows by now that central banks don't sell but buy gold This is interesting and James Turk has more credibility than the central banksters Today James Turk shocked King World News when he stated, “The entire German gold hoard was gone because it had been leased into the marketplace. Meaning, the vaults holding German gold were emptied by 2001 because of the Bundesbank leasing activities.” Turk added, “Half of the gold they (the Germans) leased themselves. The other half of Germany’s gold hoard was eventually leased into the market as well through complicated swaps with the US. But the reality is that as of 2001, all of that German gold was gone. Meaning all German gold worldwide, which was supposed to be stored in vaults, the vaults were emptied of German gold and the gold was leased into the market.” http://kingworldnews...rd_Is_Gone.html Edited October 26, 2012 by midas Link to comment Share on other sites More sharing options...
Naam Posted October 26, 2012 Share Posted October 26, 2012 http://kingworldnews...rd_Is_Gone.html Link to comment Share on other sites More sharing options...
yoshiwara Posted October 26, 2012 Share Posted October 26, 2012 That must be why the German economy is doing so badly. Link to comment Share on other sites More sharing options...
Naam Posted October 26, 2012 Share Posted October 26, 2012 Turk added “...the reality is that as of 2001, all of that German gold was gone. Naam added “Germany's gold hoard was lost because of a concerted conspirative action, planned and initiated by the Cardassians and carried out by the Ferengis who were in dire need of Gold to plate the huge amount of Latinum they amassed by trading Blueberry booze with Species 4789 in the Gamma Quadrant.“ Link to comment Share on other sites More sharing options...
midas Posted October 26, 2012 Share Posted October 26, 2012 Turk added “...the reality is that as of 2001, all of that German gold was gone. Naam added “Germany's gold hoard was lost because of a concerted conspirative action, planned and initiated by the Cardassians and carried out by the Ferengis who were in dire need of Gold to plate the huge amount of Latinum they amassed by trading Blueberry booze with Species 4789 in the Gamma Quadrant.“ Never mind your laughing monkey what I find even more hilarious is that you appear to be insinuating the Federal reserve deserves any benefit of the doubt at all? The Federal reserve which of all the people on the planet comprises mainly “ those who cannot be named “entrusted with Germany's gold and all these years they have relied solely on their word that everything is okay. Link to comment Share on other sites More sharing options...
Naam Posted October 26, 2012 Share Posted October 26, 2012 Turk added “...the reality is that as of 2001, all of that German gold was gone. Naam added “Germany's gold hoard was lost because of a concerted conspirative action, planned and initiated by the Cardassians and carried out by the Ferengis who were in dire need of Gold to plate the huge amount of Latinum they amassed by trading Blueberry booze with Species 4789 in the Gamma Quadrant.“ Never mind your laughing monkey what I find even more hilarious is that you appear to be insinuating the Federal reserve deserves any benefit of the doubt at all? The Federal reserve which of all the people on the planet comprises mainly “ those who cannot be named “entrusted with Germany's gold and all these years they have relied solely on their word that everything is okay. i did not and don't insinuate anything without any shred of evidence. but when i hear Kingworldnews and/or associates the laughing chimp comes to my mind. Link to comment Share on other sites More sharing options...
jacnl2000 Posted October 26, 2012 Share Posted October 26, 2012 Looks like the call for transparency is spreading.. now the Netherlands are trying to get more answers about their gold. http://www.nd.nl/art...ij-goudvoorraad Almost 300 "concerned Netherlands citizens" have joined the German initiative for insight about the gold reserves. In a petition the citizens committee demands "full openness on the quantity and storage location of the Netherlands' physical gold, and on the extent and nature of the gold claims." In Germany a lot of uneasiness has risen about the quantity, value, and quality of the gold reserves, which have not been audited in many years at various storage locations. Led by the tabloid newspaper Bild, German news media are wondering whether the 3.4-million kilograms of ingots are really there (valued at about E150 billion). Under pressure from the German federal audit office, part of the gold stock will be repatriated from the United States to Frankfurt. Following counter is not equal 300 but last time I took a look equal to 1.339: http://petities.nl/petitie/openheid-over-de-nederlandse-goudvoorraad Personally I find the difference in numbers quite large to explain. When the sudden increase of more than 1000 people is related to the contents of only the newspaper article you're referring to then I could call it honestly a "HOLLANDERS! effect", but oh dear "des nou ok wer nie krek wak wou!" Link to comment Share on other sites More sharing options...
Jayman Posted October 26, 2012 Share Posted October 26, 2012 Looks like the call for transparency is spreading.. now the Netherlands are trying to get more answers about their gold. http://www.nd.nl/art...ij-goudvoorraad Almost 300 "concerned Netherlands citizens" have joined the German initiative for insight about the gold reserves. In a petition the citizens committee demands "full openness on the quantity and storage location of the Netherlands' physical gold, and on the extent and nature of the gold claims." In Germany a lot of uneasiness has risen about the quantity, value, and quality of the gold reserves, which have not been audited in many years at various storage locations. Led by the tabloid newspaper Bild, German news media are wondering whether the 3.4-million kilograms of ingots are really there (valued at about E150 billion). Under pressure from the German federal audit office, part of the gold stock will be repatriated from the United States to Frankfurt. Following counter is not equal 300 but last time I took a look equal to 1.339: http://petities.nl/petitie/openheid-over-de-nederlandse-goudvoorraad Personally I find the difference in numbers quite large to explain. When the sudden increase of more than 1000 people is related to the contents of only the newspaper article you're referring to then I could call it honestly a "HOLLANDERS! effect", but oh dear "des nou ok wer nie krek wak wou!" I'll blame it on the language barrier but I don't understand 95% of what you say in your posts. Link to comment Share on other sites More sharing options...
jacnl2000 Posted October 26, 2012 Share Posted October 26, 2012 Looks like the call for transparency is spreading.. now the Netherlands are trying to get more answers about their gold. http://www.nd.nl/art...ij-goudvoorraad Almost 300 "concerned Netherlands citizens" have joined the German initiative for insight about the gold reserves. In a petition the citizens committee demands "full openness on the quantity and storage location of the Netherlands' physical gold, and on the extent and nature of the gold claims." In Germany a lot of uneasiness has risen about the quantity, value, and quality of the gold reserves, which have not been audited in many years at various storage locations. Led by the tabloid newspaper Bild, German news media are wondering whether the 3.4-million kilograms of ingots are really there (valued at about E150 billion). Under pressure from the German federal audit office, part of the gold stock will be repatriated from the United States to Frankfurt. Following counter is not equal 300 but last time I took a look equal to 1.339: http://petities.nl/petitie/openheid-over-de-nederlandse-goudvoorraad Personally I find the difference in numbers quite large to explain. When the sudden increase of more than 1000 people is related to the contents of only the newspaper article you're referring to then I could call it honestly a "HOLLANDERS! effect", but oh dear "des nou ok wer nie krek wak wou!" I'll blame it on the language barrier but I don't understand 95% of what you say in your posts. It has never been easy to find properly matching words in ones own brain for usage (in this case inner speech...) in the brains of others. I was referring to probably another simular petition running parallel to the one mentioned by the journalist and quite some time now of which the 300th signature has been properly registered almost 2 years ago! The first part of your statement "Looks like the call for transparency is spreading.. now the Netherlands are trying to get more answers about their gold." is quite right, but the second part behind the two points.. needed an update. Link to comment Share on other sites More sharing options...
Jayman Posted October 26, 2012 Share Posted October 26, 2012 (edited) Looks like the call for transparency is spreading.. now the Netherlands are trying to get more answers about their gold. http://www.nd.nl/art...ij-goudvoorraad Almost 300 "concerned Netherlands citizens" have joined the German initiative for insight about the gold reserves. In a petition the citizens committee demands "full openness on the quantity and storage location of the Netherlands' physical gold, and on the extent and nature of the gold claims." In Germany a lot of uneasiness has risen about the quantity, value, and quality of the gold reserves, which have not been audited in many years at various storage locations. Led by the tabloid newspaper Bild, German news media are wondering whether the 3.4-million kilograms of ingots are really there (valued at about E150 billion). Under pressure from the German federal audit office, part of the gold stock will be repatriated from the United States to Frankfurt. Following counter is not equal 300 but last time I took a look equal to 1.339: http://petities.nl/petitie/openheid-over-de-nederlandse-goudvoorraad Personally I find the difference in numbers quite large to explain. When the sudden increase of more than 1000 people is related to the contents of only the newspaper article you're referring to then I could call it honestly a "HOLLANDERS! effect", but oh dear "des nou ok wer nie krek wak wou!" It has never been easy to find properly matching words in ones own brain for usage (in this case inner speech...) in the brains of others. I was referring to probably another simular petition running parallel to the one mentioned by the journalist and quite some time now of which the 300th signature has been properly registered almost 2 years ago! The first part of your statement "Looks like the call for transparency is spreading.. now the Netherlands are trying to get more answers about their gold." is quite right, but the second part behind the two points.. needed an update. The quote I posted is from that linked story from Oct 24, 2012. I did not write it so cannot attest to it's accuracy. http://www.nd.nl/artikelen/2012/oktober/24/vraagtekens-burgers-bij-goudvoorraad and now looking yes you are right the translation was wrong.. sounds have read 1300 not 300. Edited October 26, 2012 by Jayman Link to comment Share on other sites More sharing options...
yoshiwara Posted October 26, 2012 Share Posted October 26, 2012 The quote I posted ......... I did not write it so cannot attest to it's accuracy. http://www.nd.nl/art...ij-goudvoorraad Typical. Link to comment Share on other sites More sharing options...
Jayman Posted October 27, 2012 Share Posted October 27, 2012 The quote I posted ......... I did not write it so cannot attest to it's accuracy. http://www.nd.nl/art...ij-goudvoorraad Typical. Typical that a translation from Dutch to English that I, a non Dutch speaker posted contained a missing 1? Or typical that you post with nothing to add to the conversation at hand? Link to comment Share on other sites More sharing options...
Naam Posted October 27, 2012 Share Posted October 27, 2012 what are the implications whether central bank gold hoards exist or don't? thoughts please! Link to comment Share on other sites More sharing options...
mania Posted October 27, 2012 Share Posted October 27, 2012 what are the implications whether central bank gold hoards exist or don't? thoughts please! Are you basically asking what are the implications if a Central Banks Financial Statement is based on Fact or Fiction? If so I guess the answer will be obvious. That is if one cares in the first place. Link to comment Share on other sites More sharing options...
Naam Posted October 27, 2012 Share Posted October 27, 2012 what are the implications whether central bank gold hoards exist or don't? thoughts please! Are you basically asking what are the implications if a Central Banks Financial Statement is based on Fact or Fiction? If so I guess the answer will be obvious. That is if one cares in the first place. no, my question invites opinions how it affects gold price, the perception that gold is a store of wealth, the possibility of gold-backed currencies. even a small percentage of gold reserves missing would make any claim/hope of a "gold-backed currency" ad absurdum. Link to comment Share on other sites More sharing options...
mania Posted October 27, 2012 Share Posted October 27, 2012 (edited) no, my question invites opinions how it affects gold price, the perception that gold is a store of wealth, the possibility of gold-backed currencies. even a small percentage of gold reserves missing would make any claim/hope of a "gold-backed currency" ad absurdum. Oh, Yes I do not subscribe to anything being gold backed for this very reason. On the surface it sounds better than straight paper backed by the promise of future taxation but it is not any more enforceable than anything else once the wolves are in the hen house. The fact that the wolves own & control the hen house does not help matters. Until such a time as the wolves can be made extinct things will continue as they always have. But it does also affect prices of privately held physical gold & that would be obvious supply & demand. If a entity such as a central bank claims to hold X amount yet, they actually have leased or sold it under the table they have in fact affected supply/price of even the privately held physical. With enough leverage anything can be moved. Edited October 27, 2012 by mania Link to comment Share on other sites More sharing options...
midas Posted October 27, 2012 Share Posted October 27, 2012 (edited) what are the implications whether central bank gold hoards exist or don't? thoughts please! you sound just like the guys from Yoshiwara’s favourite forum source of information – CNBC ! CNBC’s senior editor John Carney has released an editorial claiming that it matters not whether the gold held at the NY Fed and the BOE is filled with tungsten, has been leased or swapped, or that it even exists- all that matters is the Fed’s bookkeeping ledger that states the gold is there. But at least Carney is rational enough to acknowledge what happens when the jig is up: I’m sure the Bundesbank officials understand this quite well, even though the German Audit Court does not. There is nothing to be gained by inspecting the gold. If it is all there and pure, there is no difference from an undiscovered absence. But if the gold isn’t there, well, calamity could follow as trust in the central bank gold depositories evaporated instantly. http://www.silverdoc...g-that-matters/ Edited October 27, 2012 by midas Link to comment Share on other sites More sharing options...
manarak Posted October 27, 2012 Share Posted October 27, 2012 what are the implications whether central bank gold hoards exist or don't? thoughts please! you sound just like the guys from Yoshiwara’s favourite forum source of information – CNBC ! CNBC’s senior editor John Carney has released an editorial claiming that it matters not whether the gold held at the NY Fed and the BOE is filled with tungsten, has been leased or swapped, or that it even exists- all that matters is the Fed’s bookkeeping ledger that states the gold is there. But at least Carney is rational enough to acknowledge what happens when the jig is up: I’m sure the Bundesbank officials understand this quite well, even though the German Audit Court does not. There is nothing to be gained by inspecting the gold. If it is all there and pure, there is no difference from an undiscovered absence. But if the gold isn’t there, well, calamity could follow as trust in the central bank gold depositories evaporated instantly. http://www.silverdoc...g-that-matters/ What a bunch of crooks they are! I can't pay people with trust! BTW, I once worked for a bank who did an audit of its gold stocks used for trading. Believe it or not, the audit found out that the bank was having negative stocks of physical gold! Link to comment Share on other sites More sharing options...
yoshiwara Posted October 27, 2012 Share Posted October 27, 2012 you sound just like the guys from Yoshiwara’s favourite forum source of information – CNBC ! CNBC certainly great for live up-to-the-minute unfolding news and commentary. A lot of the reader website contributions can be discounted as they are free and attract the usual crowd of gold bugs and rag-tail malcontents. CNBC video tutorials worth a mention. Both the subscription-based FT and WSJ better for more informed input, so CNBC + WSJ + FT a good foundation. Stay away from the hysterical websites Link to comment Share on other sites More sharing options...
Naam Posted October 27, 2012 Share Posted October 27, 2012 what are the implications whether central bank gold hoards exist or don't? thoughts please! you sound just like the guys from Yoshiwara’s favourite forum source of information – CNBC ! what rubbish are you talking? i asked a justified question followed by a question mark (?). either come up with an answer or just shut up! your nonsensical diversions when you have nothing tangible to say are very boring. the minimum i expect from you is copying and pasting rubbish² from "Gold Councils", "Kingworld News" or excerpts what famous and renowned "experts" revealed in interviews with the precious metal editor of magazines like "The Happy Silver Miner" and "We Is All Doomed!" Link to comment Share on other sites More sharing options...
manarak Posted October 27, 2012 Share Posted October 27, 2012 (edited) "We Is All Doomed!" call me a defeatist, but I strongly believe that. In about 50 years from now (or so I hope), I'll have to let my heirs take over my possessions. Edited October 27, 2012 by manarak Link to comment Share on other sites More sharing options...
Naam Posted October 27, 2012 Share Posted October 27, 2012 "We Is All Doomed!" call me a defeatist, but I strongly believe that. In about 50 years from now (or so I hope), I'll have to let my heirs take over my possessions. i am luckier than you because my remaining statistical life span is much less than 50 years. perhaps 46 or, if worse comes to worst... 48 years Link to comment Share on other sites More sharing options...
Naam Posted October 27, 2012 Share Posted October 27, 2012 (edited) But if the gold isn’t there, well, calamity could follow as trust in the central bank gold depositories evaporated instantly. and who, pray tell, gives a flying fàrt whether the gold of some or all central banks exists or does not? yes, i admit there are people who do give a flying fàrt. but their flying fàrts are lukewarm farts in a hurricane. everybody with an IQ above 82.5 knows that a number of banks and/or financial institutions have been and are still cheating. that also applies to big CBs like the FED and the ECB which is recently trying its best to compete with the FEDs cheating. Edited October 27, 2012 by Naam Link to comment Share on other sites More sharing options...
Jayman Posted October 27, 2012 Share Posted October 27, 2012 (edited) what are the implications whether central bank gold hoards exist or don't? thoughts please! I think there are 2 issues to consider. 1 is the leasing of the physical gold and over short selling of gold that doesn't exist. If they are leveraging the physical to short many times that amount than that would go to explain the price suppression scheme that many claim is going on. The implication of the scheme unfolding is that the price increases to a more natural level based on true supply and demand. The other issue to consider is that the bank has sold the gold it claims on it's books and it no longer exists in the vault. I find this situation to be less likely. I don't think they will open say fort Knox and find it empty. Or find that the wall of gold we were fantasizing about is just a fake or mirage. But if that was the case then I think the implication would be that the banks have flat out lied, not having the assets they claim to have and this could/would cause a loss of confidence in the banking system. Since the current banking system exists based mostly on confidence, this new lack of confidence could then lead to a failure in the system and subsequent crash. Edited October 27, 2012 by Jayman Link to comment Share on other sites More sharing options...
churchill Posted October 27, 2012 Author Share Posted October 27, 2012 'The other issue to consider is that the bank has sold the gold it claims on it's books and it no longer exists in the vault. ' Easy to do .. temptation .. profits ...look towards ....Vietnam Link to comment Share on other sites More sharing options...
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