Where Is Gold Going In This Market

[churchill]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

BOE charges Germany for storage but NY does not I believe ...

[mccw]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

BOE charges Germany for storage but NY does not I believe ...

Seems you right:

"In Manhattan, the Fed safeguards the gold of the world at no charge to the depositors, who only have to pay $1.75 per gold bar to have the stuff moved around the vault. If, for example, France wants to pay Russia for something in gold, it calls the Fed and has it move bars from its part of the vault to Russia's part for the nominal transaction fee. When currencies were linked to the price of gold, transactions were aplenty, but that's no longer the case these days. Last year there was just one transaction conducted in the vault, a Fed spokesman said, declining, for obvious reasons, to add more detail."

-http://www.forbes.com/2008/01/29/gold-silver-diamonds-biz-cx_lm_0129vaults.html

Begs the question then- Why would they be so kind?

[mccw]

The time delay and small yearly quantities is still the elephant in the room. I'm sure lots of debate like this one is swirling around like this at every level of investor and governments; That in itself is worth considering.

Edited January 20, 2013 by mccw

[Jayman]

The time delay and small yearly quantities is still the elephant in the room. I'm sure lots of debate like this one is swirling around like this at every level of investor and governments; That in itself is worth considering.

Absolutely.. What makes it hard to believe that JPM holds physical against all it's shorts is that they could not physically accumulate on a yearly basis all the PM's they short. The yearly quantities just don't add up.

Edited January 20, 2013 by Jayman

[Naam]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

it is good to know that we have an expert on Bundesbank policies

[churchill]

I like the way the gold is stored in such a way to allow easy viewing and access .

4. Gold als Währungsreserve

Lagerung bei der Federal Reserve Bank New York

Carl-Ludwig Thiele 16. Januar 2013

http://www.bundesbank.de/Redaktion/DE/Downloads/Presse/Publikationen/2013_01_16_thiele_praesentation_pressegespraech_gold.pdf?__blob=publicationFile

Edited January 21, 2013 by churchill

[churchill]

worth a listen ...

[midas]

Perhaps Naam can answer the simple question raised a few posts ago ..'Why do you think they can only bring 50 tons a year ....Does Lufthansa have some kind of cargo limit ' why is Germany not being allowed to audit and retrieve their gold from the US in a timely manner

Isn't it rather interesting that back on October 24 last year it was reported that the Bundesbank would request the New York Fed to ship back only 150 t over three years? I wonder what caused the Bundesbank over a 3 month period to double the amount they now want? Sounds like there's there's been some hard negotiating in the background as to how much they can actually get and it makes you wonder who is imposing the possible limitations and why?

October 24, 2012

In perhaps the biggest story in gold since Hugo Chavez sent shock-waves throughout the gold market in mid 2011 (and propelled gold up $300 to a record $1915), the German Federal Accountability Office has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings, and in anticipation, has begun the repatriation of German gold from the NY Fed. The Bundesbank will request the NY Fed ship 50 tones of German gold back to the motherland a year for the next 3 years!

http://www.silverdoc...ld-from-ny-fed/

Edited January 21, 2013 by midas

[yoshiwara]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

BOE charges Germany for storage but NY does not I believe ...

Seems you right:

"In Manhattan, the Fed safeguards the gold of the world at no charge to the depositors, who only have to pay $1.75 per gold bar to have the stuff moved around the vault. If, for example, France wants to pay Russia for something in gold, it calls the Fed and has it move bars from its part of the vault to Russia's part for the nominal transaction fee. When currencies were linked to the price of gold, transactions were aplenty, but that's no longer the case these days. Last year there was just one transaction conducted in the vault, a Fed spokesman said, declining, for obvious reasons, to add more detail."

-http://www.forbes.com/2008/01/29/gold-silver-diamonds-biz-cx_lm_0129vaults.html

Begs the question then- Why would they be so kind?

During the period of the Cold War storing German gold in the US made sense with the Soviet Army parked across the border.

A political rather than a fee generating issue.

But don't let that explanation spoil the fevered imaginations of the zerofridge gold pack.

[binjalin]

well i just dipped back in as it seems to hold fast at 1680 ish (23800) sold at 25450 so its ok (nearly 7%)

[Naam]

Isn't it rather interesting that back on October 24 last year it was reported that the Bundesbank would request the New York Fed to ship back only 150 t over three years? I wonder what caused the Bundesbank over a 3 month period to double the amount they now want? Sounds like there's there's been some hard negotiating in the background as to how much they can actually get and it makes you wonder who is imposing the possible limitations and why?

October 24, 2012

In perhaps the biggest story in gold since Hugo Chavez sent shock-waves throughout the gold market in mid 2011 (and propelled gold up $300 to a record $1915), the German Federal Accountability Office has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings, and in anticipation, has begun the repatriation of German gold from the NY Fed. The Bundesbank will request the NY Fed ship 50 tones of German gold back to the motherland a year for the next 3 years!

http://www.silverdoc...ld-from-ny-fed/

as so often distorted and/or outdated information (october 2012).

here's the latest beef posted today by Prime Minister Churchill:

]16. Januar 2013[/b]

Carl-Ludwig Thiele, Boardmember Bundesbank

300 tons of gold from NY to Frankfurt over a period of seven years (reduction from 45% to 37%)

374 tons of gold from Paris to Frankfurt over a period of seven years (reduction from 11% down to 0%)

http://www.deutschla...en-goldreserven

p.s. "the German Federal Accountability Office has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings..."

this office has no jurisdiction and does not "rule". it is a constitutional fact that nobody rules, instructs or is entitled to influence any Bundesbank decision!

[churchill]

The Bundesbank takes back its doughnuts

http://www.ft.com/intl/cms/s/0/38ce6cfc-5fec-11e2-8d8d-00144feab49a.html#axzz2IVLYOUiJ

[mccw]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

BOE charges Germany for storage but NY does not I believe ...

Seems you right:

"In Manhattan, the Fed safeguards the gold of the world at no charge to the depositors, who only have to pay $1.75 per gold bar to have the stuff moved around the vault. If, for example, France wants to pay Russia for something in gold, it calls the Fed and has it move bars from its part of the vault to Russia's part for the nominal transaction fee. When currencies were linked to the price of gold, transactions were aplenty, but that's no longer the case these days. Last year there was just one transaction conducted in the vault, a Fed spokesman said, declining, for obvious reasons, to add more detail."

-http://www.forbes.com/2008/01/29/gold-silver-diamonds-biz-cx_lm_0129vaults.html

Begs the question then- Why would they be so kind?

During the period of the Cold War storing German gold in the US made sense with the Soviet Army parked across the border.

I think we all knew that already. The History of it is mentioned in just about every article. It's been a while.

[churchill]

Isn't it rather interesting that back on October 24 last year it was reported that the Bundesbank would request the New York Fed to ship back only 150 t over three years? I wonder what caused the Bundesbank over a 3 month period to double the amount they now want? Sounds like there's there's been some hard negotiating in the background as to how much they can actually get and it makes you wonder who is imposing the possible limitations and why?

October 24, 2012

In perhaps the biggest story in gold since Hugo Chavez sent shock-waves throughout the gold market in mid 2011 (and propelled gold up $300 to a record $1915), the German Federal Accountability Office has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings, and in anticipation, has begun the repatriation of German gold from the NY Fed. The Bundesbank will request the NY Fed ship 50 tones of German gold back to the motherland a year for the next 3 years!

http://www.silverdoc...ld-from-ny-fed/

as so often distorted and/or outdated information (october 2012).

here's the latest beef posted today by Prime Minister Churchill:

]16. Januar 2013[/b]

Carl-Ludwig Thiele, Boardmember Bundesbank

300 tons of gold from NY to Frankfurt over a period of seven years (reduction from 45% to 37%)

374 tons of gold from Paris to Frankfurt over a period of seven years (reduction from 11% down to 0%)

http://www.deutschla...en-goldreserven

p.s. "the German Federal Accountability Office has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings..."

this office has no jurisdiction and does not "rule". it is a constitutional fact that nobody rules, instructs or is entitled to influence any Bundesbank decision!

Chavez ..No Problem ...... Bundesbank ... Cha Cha

[midas]

Pacific Group to Convert One-Third of Hedge-Fund Assets to Gold

The Pacific Group Ltd., founded by a former PaineWebber Inc. trader, is converting one-third of its hedge-fund assets into physical gold, betting that prices will go up as governments print more money to pay off debt.

http://www.bloomberg.com/news/2013-01-21/pacific-group-to-convert-one-third-of-hedge-fund-assets-to-gold.html

[midas]

Isn't it rather interesting that back on October 24 last year it was reported that the Bundesbank would request the New York Fed to ship back only 150 t over three years? I wonder what caused the Bundesbank over a 3 month period to double the amount they now want? Sounds like there's there's been some hard negotiating in the background as to how much they can actually get and it makes you wonder who is imposing the possible limitations and why?

October 24, 2012

In perhaps the biggest story in gold since Hugo Chavez sent shock-waves throughout the gold market in mid 2011 (and propelled gold up $300 to a record $1915), the German Federal Accountability Office has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings, and in anticipation, has begun the repatriation of German gold from the NY Fed. The Bundesbank will request the NY Fed ship 50 tones of German gold back to the motherland a year for the next 3 years!

http://www.silverdoc...ld-from-ny-fed/

as so often distorted and/or outdated information (october 2012).

here's the latest beef posted today by Prime Minister Churchill:

]16. Januar 2013[/b]

Carl-Ludwig Thiele, Boardmember Bundesbank

300 tons of gold from NY to Frankfurt over a period of seven years (reduction from 45% to 37%)

374 tons of gold from Paris to Frankfurt over a period of seven years (reduction from 11% down to 0%)

http://www.deutschla...en-goldreserven

p.s. "the German Federal Accountability Office has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings..."

this office has no jurisdiction and does not "rule". it is a constitutional fact that nobody rules, instructs or is entitled to influence any Bundesbank decision!

No it's not distorted or outdated at all. That's why I put the date on the top. I merely pointed out that between October to now they changed their minds and decided to double the amount they are bringing back from 150 to 300 t

Edited January 21, 2013 by midas

[Naam]

Chavez ..No Problem ...... Bundesbank ... Cha Cha

Chang and Leo no problem?

[Naam]

No it's not distorted or outdated at all. That's why I put the date on the top. I merely pointed out that between October to now they changed their minds and decided to double the amount they are bringing back from 150 to 300 t

the Bundesbank announced "50 tons for three years" and now they announced "50 tons for seven years". of course they made a big mistake not asking the "Silver Doctors" and "Mr Midas" for permission to transfer more gold from the U.S. and leave whatever gold is stored in the Yewnighted Kingdom™.

that the total amount targeted to be in Germany by the year 2020 has not changed is irrelevant for "Messrs Silver Doctors & Midas" because otherwise they could not call it a conspiracy to undermine the global financial system by using criminal activities. and soon "Messrs Galactic Gold Council Doctors" will come up with similar assumptions and accusations.

[midas]

Repatriation Avalanche Gaining Momentum: Azerbaijan to Withdraw All Gold From JP Morgan Vaults

The size of the gold withdrawal from the cartel bullion banking system is not the important thing in Azerbaijan’s announcement- rather the increasing liklihood that our bankster friends will soon be facing repatriation requests from every last rehypothecated gold bar owner.

http://www.silverdoc...(SilverDoctors)

Edited January 21, 2013 by midas

[churchill]

Repatriation Avalanche Gaining Momentum: Azerbaijan to Withdraw All Gold From JP Morgan Vaults

The size of the gold withdrawal from the cartel bullion banking system is not the important thing in Azerbaijan’s announcement- rather the increasing liklihood that our bankster friends will soon be facing repatriation requests from every last rehypothecated gold bar owner.

http://www.silverdoc...(SilverDoctors)

Easy for some

Oil fund delivers first batch of gold to Azerbaijan

http://www.azernews.az/business/48447.html

Azeri State Fund to Double Gold Reserves, Buy Asian Real Estate

http://www.bloomberg.com/news/2013-01-17/azeri-state-fund-to-double-gold-reserves-buy-asian-real-estate.html

[yoshiwara]

Repatriation Avalanche Gaining Momentum: Azerbaijan to Withdraw All Gold From JP Morgan Vaults

The size of the gold withdrawal from the cartel bullion banking system is not the important thing in Azerbaijan’s announcement- rather the increasing liklihood that our bankster friends will soon be facing repatriation requests from every last rehypothecated gold bar owner.

http://www.silverdoc...(SilverDoctors)

Easy for some

Oil fund delivers first batch of gold to Azerbaijan

http://www.azernews....ness/48447.html

Azeri State Fund to Double Gold Reserves, Buy Asian Real Estate

http://www.bloomberg...eal-estate.html

Do I hear the scraping of zerosludge barrels?

I must remember to include the machinations of Azerbaijan in my future financial considerations.

Edited January 22, 2013 by yoshiwara

[Naam]

today dear children we hear again from the genius Jim Rickards,

author of Currency Wars: The Making of the Next Global Crisis.

Rickards is bullish on gold short term and says

"gold prices will rise the most in currencies that are weakening the most."

http://finance.yahoo...-170006263.html

[Naam]

Platinum made it ahead of Gold again. for how long?

[yoshiwara]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

I think you don't have the faintest idea. Have you checked with zeropoop?

Edited January 24, 2013 by yoshiwara

[mccw]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

I think you don't have the faintest idea. Have you checked with zeropoop?

Your Bored obviously and just looking for something to troll; but If you read the follow up post I provided a link correcting myself.

Have you thought about playing sudoku? Or picture puzzles? No mates required!

[yoshiwara]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

I think you don't have the faintest idea. Have you checked with zeropoop?

Your Bored obviously and just looking for something to troll; but If you read the follow up post I provided a link correcting myself.

Have you thought about playing sudoku? Or picture puzzles? No mates required!

A mealy-mouthed correction 'Begs the question....' One step forward, two steps back.

[mccw]

The only reason on a person to person, bank to person or bank to bank basis, to not take money (gold in this case) back immediately is because either the other party can not pay / needs time to repay Or the owner party want to earn interest. Is Germany paid interest for its gold? I think actually they pay storage charges the other way.

I think you don't have the faintest idea. Have you checked with zeropoop?

Your Bored obviously and just looking for something to troll; but If you read the follow up post I provided a link correcting myself.

Have you thought about playing sudoku? Or picture puzzles? No mates required!

A mealy-mouthed correction 'Begs the question....' One step forward, two steps back.

Ok I answer the question since you can't; why they so kindness to keep another countries gold for free for last 10+ years? Because they put it to work leasing etc in to make to manipulate prices. That is why they can not give back more than 50tons per year. It is stuck in the web of the system.

What's your answer? No answer; Just trol trol trol with out able to put forth any sensible logical alternative reasoning for this scenario.

[Naam]

Ok I answer the question since you can't; why they so kindness to keep another countries gold for free for last 10+ years? Because they put it to work leasing etc in to make to manipulate prices. That is why they can not give back more than 50tons per year. It is stuck in the web of the system.

What's your answer? No answer; Just trol trol trol with out able to put forth any sensible logical alternative reasoning for this scenario.

please list any available evidence

-that gold stored by a specific nation was leased out illegally by another nation.

and explain

-why by leasing out specific amounts of gold the global gold price can be manipulated.

[mccw]

Ok I answer the question since you can't; why they so kindness to keep another countries gold for free for last 10+ years? Because they put it to work leasing etc in to make to manipulate prices. That is why they can not give back more than 50tons per year. It is stuck in the web of the system.

What's your answer? No answer; Just trol trol trol with out able to put forth any sensible logical alternative reasoning for this scenario.

please list any available evidence

-that gold stored by a specific nation was leased out illegally by another nation.

and explain

-why by leasing out specific amounts of gold the global gold price can be manipulated.

1) what other rational explanation is there to not just take back all your gold in 1 go?

2) artificially increased supply would affect the supply side of demand and supply based price determination.

[binjalin]

wow better buy some more soon - it's taking a hammering