Gold rush in Europe as concern over money printing rises

[slipperylobster]

I would definitely not give gold back to anybody I won it from. To the victor goes the spoils.....and all that.

Let them squirm for it..... We didn't start anything.

What is really weird is....now everyone says we have all the Gold.... lol. Before, it was...."USA printing money with nothing to back it".

Na na na na na. Hows it feel ..huh? huh? feel good? Here is your gold...right here. Na na na.

[Ulic]

I see it written in this article that the Germans have asked to repatriate there gold from the US and

it is not possible to have it returned until 2020, but is this statement true? Have they asked to repatriate it,

and is it not possible for another five years? The article makes the claim but does not say why.

[Asiantravel]

I see it written in this article that the Germans have asked to repatriate there gold from the US and

it is not possible to have it returned until 2020, but is this statement true? Have they asked to repatriate it,

and is it not possible for another five years? The article makes the claim but does not say why.

Germany has decided its gold is safe in American hands. “The Americans are taking good care of our gold,” Norbert Barthle, the budget spokesman for Merkel’s Christian Democratic bloc in parliament, said in an interview. “Objectively, there’s absolutely no reason for mistrust.”

http://www.bloomberg.com/news/2014-06-23/german-gold-stays-in-new-york-in-rebuff-to-euro-doubters.html

" Trust, but verify " Ronald Reagan

Edited November 28, 2014 by Asiantravel

[slipperylobster]

I see it written in this article that the Germans have asked to repatriate there gold from the US and

it is not possible to have it returned until 2020, but is this statement true? Have they asked to repatriate it,

and is it not possible for another five years? The article makes the claim but does not say why.

Germany has decided its gold is safe in American hands. “The Americans are taking good care of our gold,” Norbert Barthle, the budget spokesman for Merkel’s Christian Democratic bloc in parliament, said in an interview. “Objectively, there’s absolutely no reason for mistrust.”

http://www.bloomberg.com/news/2014-06-23/german-gold-stays-in-new-york-in-rebuff-to-euro-doubters.html

[elgordo38]

Sounds like they dont trust the USA. They are right else Germany would have its gold back already.

Would not surprise me if most of the gold in the USA reserve has been loaned out. Some could even be Tungsten bars. The only reason the American stock market hits new highs every day is that they are the best of the worst economies in the world and the citizens in Europe and other countries the really money people are shoveling their savings into the stock market in the USA as their currencies are in a race to the bottom like Japan to boost exports. World wide the mantra is export export a pox on the savers that listened to governments early on in life which said "Save your money for your golden years" Well here I am and the only decent return is in the Las Vegas style stock market in the USA. When the music stops the big boys will have pulled all their money out and shorted the market to make a killing as it collapses. Good bye little guy. Watch a movie called "The Fall of the Republic" and others to see how you are being manipulated.

[Greer]

in the american mind the germans have no right to that gold. the americans see it as iron curtain protection payments. why are we giving it back to them they lost mindset. and what recourse do they have cry in the media . i am telling you the american's make the swiss look honest and fair. the americans stole and looted all that gold fair and square in there minds they won. do you know who the largest depositors in the u.s. bank saudis they would confiscate that in a blink if there were any problems with them.

Eh?

Care to add some punctuation so we know what you are saying? Each sentence can currently be read at least a couple of different ways, with different meanings.

[Greer]

I would definitely not give gold back to anybody I won it from. To the victor goes the spoils.....and all that.

Let them squirm for it..... We didn't start anything.

What is really weird is....now everyone says we have all the Gold.... lol. Before, it was...."USA printing money with nothing to back it".

Na na na na na. Hows it feel ..huh? huh? feel good? Here is your gold...right here. Na na na.

If the US is holding the gold in trust for other countries, then yes, they are printing money with nothing to back it - the gold doesn't belong to them, and to keep gold that was deposited with them for safe keeping is theft on an international scale - making the US a bunch of thieves - is that what you want to be?

[Time Traveller]

Who writes this trash? Oh, never mind. Not a lot if brain power behind any if this.

What you really mean is that you are not astute enough to understand it... which is quite basic actually and anything but rubbish.

I will wager the USA no longer has any of that gold, as much as it probably no longer has its own gold, which has long been suspected by the US public and that the Fed Res have been lying for years.

You need to ask why Germany has to wait till 2020..... If they had it, they would give it and Germany has the right to demand it in an instant. I see very uncomfortable times ahead for the US government.

I wonder if all this is in anticipation of China, Russia and the BRICS (and probably OPEC) countries about to dump the USD as the reserve currency as well as oil currency?

Makes sense, because it will destabilize a lot of currencies around the world for a while.

But it will collapse the US economy as well as wall Street and the entire US society overnight.

That is how they will bring an end to the days of US dominance across the globe.... Here today, gone tomorrow.

Many experts are tipping this to go down some time next year.

Many experts have been tipping the decline of USA for the last 40 years. If you are still listening to experts, then that's your own foolishness.

[Time Traveller]

If the US is holding the gold in trust for other countries, then yes, they are printing money with nothing to back it - the gold doesn't belong to them, and to keep gold that was deposited with them for safe keeping is theft on an international scale - making the US a bunch of thieves - is that what you want to be?

Maybe you beleive that the latest published figures by IMF (http://en.wikipedia.org/wiki/Gold_reserve)

that USA has 8000 tonnes of their own gold in reserve is wrong and that USA has no zero gold?

The reason other countries deposit gold in the U.S. is being used mainly for security reasons. If all of their reserves were held in country, a war could potentially see their entire reserves taken. That is why countries like Germany, Netherlands, Austria, Belgium, Italy, UK and even Iraq deposit some of their reserves in other gold vaults in several countries with low risk such as USA, Canada, UK, Switzerland. They are not used for the host country to finance obligations.

The fact that countries request repatriation of gold that can't be met immediately is due to a number of factors such as existing swap arrangements, security logistics of moving hundreds of tonnes of gold internationally, inspection and audit of deposits.

Never a day goes by on TV without the American bashing. It's so tiresome. What a sad miserable person you must be.

Edited November 28, 2014 by Time Traveller

[jpinx]

There's lots of double-shuffling going on. The German gold dates back to pre-WWII and ostensibly is being held in USA, etc as a precaution against old East Germany getting their hands on it. Now that scenario is passed, there was talk of an "inspection" by the German Central Bank, but details of that are very sketchy. This in response to an about-face by Merkel who now says the gold is better kept where it is. One wonders if the USA sees it as the "spoils of war" and have no intention of returning it, forcing Merkel into backing down on her demands.

[siampolee]

There has been for some years now an ongoing question as the amount of gold that is claimed to be held by the U.S Federal Reserve.There has also been a number of questions as to the whereabouts of some of this gold as well as its presumed existence.

Couple of interesting links here and all recent news items too.

http://thebullionmag.com/germanys-missing-gold-and-the-u-s-gold-reserves-1938/

http://news.goldseek.com/GoldSeek/1401807525.php

[Anthony5]

There's lots of double-shuffling going on. The German gold dates back to pre-WWII and ostensibly is being held in USA, etc as a precaution against old East Germany getting their hands on it. Now that scenario is passed, there was talk of an "inspection" by the German Central Bank, but details of that are very sketchy. This in response to an about-face by Merkel who now says the gold is better kept where it is. One wonders if the USA sees it as the "spoils of war" and have no intention of returning it, forcing Merkel into backing down on her demands.

You know there were reports around the time Merkel changed mind about the gold, that here phone was tapped by NSA and that she would sue the US. All that has gone quiet as well, so maybe ................

[jpinx]

There's lots of double-shuffling going on. The German gold dates back to pre-WWII and ostensibly is being held in USA, etc as a precaution against old East Germany getting their hands on it. Now that scenario is passed, there was talk of an "inspection" by the German Central Bank, but details of that are very sketchy. This in response to an about-face by Merkel who now says the gold is better kept where it is. One wonders if the USA sees it as the "spoils of war" and have no intention of returning it, forcing Merkel into backing down on her demands.

You know there were reports around the time Merkel changed mind about the gold, that here phone was tapped by NSA and that she would sue the US. All that has gone quiet as well, so maybe ................

============================

Indeed !! I had forgotten about the NSA "incident" with Fr Merkel's mobile. That plus the referenced prior return of "bad gold" to Germany would not make her best pleased. Reading more just confirms the nonsense of the various "regulatory bodies" and their policies. The IMF allows a bank to count gold as a material reserve even if it is out on "loan" -- what a joke!!!

Another thing -- no-one has independently audited the Federal Reserves holdings of Gold since around the 1970's. Not even of their own gold stored by the Federal Reserve. Germany was pointedly refused permission to go and look at their own gold. Makes you wonder if the whole idea of a gold-based currency has as much basis in reality as a currency based on a paper-mill.......

P.S. -- Just spotted this quote in the article linked above. Sets the record pretty straight - assuming you can do simple adding and subtracting maths

..........An 2012 audit conducted by the US Inspector General of the Treasury established that 99.98% of the gold held by the US is housed at the NY Fed. Germany deposited 1,500 tons of gold there, yet the audit shows the NY Fed contains 419 tons in total, and that includes coins............

http://news.goldseek.com/GoldSeek/1401807525.php

Edited November 28, 2014 by jpinx

[Loptr]

Pfft, gold? A barbaric relic from the past that has no intrinsic value according to the Keynesian central bankers...

[maidee]

someone creating a panic and wants a big return on their investment ...

[rickirs]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

There's lots of double-shuffling going on. The German gold dates back to pre-WWII and ostensibly is being held in USA, etc as a precaution against old East Germany getting their hands on it. Now that scenario is passed, there was talk of an "inspection" by the German Central Bank, but details of that are very sketchy. This in response to an about-face by Merkel who now says the gold is better kept where it is. One wonders if the USA sees it as the "spoils of war" and have no intention of returning it, forcing Merkel into backing down on her demands.

To wonder is to speculate.

Most of Germany's gold wealth came from the WWII era (rise of Hitler was due to the economic devastation of Germany after WWI) so there would seem to be no reason for the Nazi's to store gold in the US. It would be most likely that the pre-end of WWII Nazi gold went to South America to countries like Argentina where many Nazi high ranking officials hoped to carry on the Reichstag. On the other hand with the complete economic destruction of Japan's economy from WWII (unlike the US economy that saw huge growth), rebuilding Japan required huge resources; any Japanese gold would likely stay within the country.

[rickirs]

According to the most recent data from the World Gold Council, the U.S. holds 8,133.5 tons of gold, representing 71.8 percent of reserves and the most held by any one country in the world. This is apart from about 6,100 tons held for foreign countries. I don't think the US will experience an economic collapse in the near future due to any inadequate gold reserves.

[F430murci]

Haha, lets talk fact and not speculation or theory. Gold down sharply today.

http://www.nasdaq.com/markets/gold.aspx

[Publicus]

no its Japan that will start the slide down the tubes

google this

On the Verge of Chaos

By John Mauldin | Nov 24, 2014

Japan is backstopped by the USDollar. Japan knows this, the world knows this. And as anticipated the USD is strengthening in what will be an ever upward wedge trend for a long time to come.

So the gold standard apocalypse types sitting around under their flimsy thunderdrome are being drawn into a clobbering. For instance, the Brics are experiencing present stress traumatic syndrome of a continuing massive capital flight. Russia and Beijing have signed a yuan based energy deal at a time the yuan/rmb is sinking fast and Beijing is raising interest rates indefinitely to try to head off the inevitable devaluation.

The United States has more gold in reserve than it has ever said it has, since the end of WW2, very likely much more, and the Fed is continuing to buy gold cheaply....the Fed and the Bank of Japan just this week tweaked the gold markets yet again to make the price even cheaper and to continue the downward trend.

You guys who pride yourselves on your self-assigned genius over the rest of us really ought to be able to put 2 and 2 together to equal four, i.e., when gold is in such a great demand among Asian and other emerging economies' central banks, why is the price always as low as its been long term and still going down. Does the market know something you guys don't know....like maybe there's an invisible hand that is buying gold while simultaneously keeping the price low and lower...and has been doing it for a long time besides.

That if gold ever goes to $3000 oz the value of US gold holdings declared and undeclared would approximate $3 Trillion.

For now however try starting with this which has enough doomsday in it to please any Mad Max wannabe but which still leaves the USD as the global currency....

"In addition to a likely string of sovereign defaults in Europe and an outright currency collapse in Japan, the global debt drama would end with an epic US dollar rally, a dramatic reversal in capital flows, and an absolute bloodbath for emerging markets.

"Extending that outlook, China – seen by many as the world’s rising power and the most resilient economy in the wake of the global crisis – would face an outright economic collapse, an epic currency crisis, or both.

"Any break-out beyond upward resistance is an incredibly bullish sign for the US dollar and an incredibly bearish sign for carry trades around the world that have been funded in US dollars. It's a clear sign that we may be on the verge of the next wave of the global financial crisis, where financial repression finally backfires and forces all the QE-induced easy money sloshing around the world to come rushing back into safe havens [the USDollar]."

http://www.forbes.com/sites/johnmauldin/2014/10/27/a-scary-story-for-emerging-markets/2/

In other words, while what's very likely coming will be serious and global, it is the complete opposite of what you guys have been living for, and the US will pretty much escape the most of it, an Atlas with a Herculean dollar wrapped around his globe.

[slipperylobster]

I would definitely not give gold back to anybody I won it from. To the victor goes the spoils.....and all that.

Let them squirm for it..... We didn't start anything.

What is really weird is....now everyone says we have all the Gold.... lol. Before, it was...."USA printing money with nothing to back it".

Na na na na na. Hows it feel ..huh? huh? feel good? Here is your gold...right here. Na na na.

If the US is holding the gold in trust for other countries, then yes, they are printing money with nothing to back it - the gold doesn't belong to them, and to keep gold that was deposited with them for safe keeping is theft on an international scale - making the US a bunch of thieves - is that what you want to be?

Hey....... quiet.

Counting those gold bars.... Thanks.

[harryfrompattaya]

Who writes this trash? Oh, never mind. Not a lot if brain power behind any if this.

This is nothing but a last ditch push to try to push the price of gold up

It keeps falling and the dollars get stronger

only a fool wants gold now

Gold shall see 700 dollars soon

[Langsuan Man]

The Euro is dropping because, like a chain, it is only as strong as it's weakest link. When you take as many countries that now make up the European Monetary Union and mix them up the poor economies will bring down the richer ones

There was a reason the Brits did not buy into that trap

[spidermike007]

One is led to wonder whether we are about to enter another cycle of depression with all this clamour to back up paper with gold.

The profligate spending policies of many states on conflict it seems is coming home to roost as are the vultures of the international robbery banking industry too

One can guarantee that those who have created this situation and have benefited from it certainly will not lose out, on the contrary they'll yet again feed upon the carcass of the man and women in the street.

Fat cats get fatter every day.

One wonders if a depression can be avoided, long term. I just do not see how current fiscal policy, by the major worlds economies can be sustained.

[BlackJack]

no its Japan that will start the slide down the tubes

google this

On the Verge of Chaos

By John Mauldin | Nov 24, 2014

Japan is backstopped by the USDollar. Japan knows this, the world knows this. And as anticipated the USD is strengthening in what will be an ever upward wedge trend for a long time to come.

So the gold standard apocalypse types sitting around under their flimsy thunderdrome are being drawn into a clobbering. For instance, the Brics are experiencing present stress traumatic syndrome of a continuing massive capital flight. Russia and Beijing have signed a yuan based energy deal at a time the yuan/rmb is sinking fast and Beijing is raising interest rates indefinitely to try to head off the inevitable devaluation.

The United States has more gold in reserve than it has ever said it has, since the end of WW2, very likely much more, and the Fed is continuing to buy gold cheaply....the Fed and the Bank of Japan just this week tweaked the gold markets yet again to make the price even cheaper and to continue the downward trend.

You guys who pride yourselves on your self-assigned genius over the rest of us really ought to be able to put 2 and 2 together to equal four, i.e., when gold is in such a great demand among Asian and other emerging economies' central banks, why is the price always as low as its been long term and still going down. Does the market know something you guys don't know....like maybe there's an invisible hand that is buying gold while simultaneously keeping the price low and lower...and has been doing it for a long time besides.

That if gold ever goes to $3000 oz the value of US gold holdings declared and undeclared would approximate $3 Trillion.

For now however try starting with this which has enough doomsday in it to please any Mad Max wannabe but which still leaves the USD as the global currency....

"In addition to a likely string of sovereign defaults in Europe and an outright currency collapse in Japan, the global debt drama would end with an epic US dollar rally, a dramatic reversal in capital flows, and an absolute bloodbath for emerging markets.

"Extending that outlook, China – seen by many as the world’s rising power and the most resilient economy in the wake of the global crisis – would face an outright economic collapse, an epic currency crisis, or both.

"Any break-out beyond upward resistance is an incredibly bullish sign for the US dollar and an incredibly bearish sign for carry trades around the world that have been funded in US dollars. It's a clear sign that we may be on the verge of the next wave of the global financial crisis, where financial repression finally backfires and forces all the QE-induced easy money sloshing around the world to come rushing back into safe havens [the USDollar]."

http://www.forbes.com/sites/johnmauldin/2014/10/27/a-scary-story-for-emerging-markets/2/

In other words, while what's very likely coming will be serious and global, it is the complete opposite of what you guys have been living for, and the US will pretty much escape the most of it, an Atlas with a Herculean dollar wrapped around his globe.

i dont think you read nor understood the google reference I posted

[Publicus]

no its Japan that will start the slide down the tubes

google this

On the Verge of Chaos

By John Mauldin | Nov 24, 2014

Japan is backstopped by the USDollar. Japan knows this, the world knows this. And as anticipated the USD is strengthening in what will be an ever upward wedge trend for a long time to come.

So the gold standard apocalypse types sitting around under their flimsy thunderdrome are being drawn into a clobbering. For instance, the Brics are experiencing present stress traumatic syndrome of a continuing massive capital flight. Russia and Beijing have signed a yuan based energy deal at a time the yuan/rmb is sinking fast and Beijing is raising interest rates indefinitely to try to head off the inevitable devaluation.

The United States has more gold in reserve than it has ever said it has, since the end of WW2, very likely much more, and the Fed is continuing to buy gold cheaply....the Fed and the Bank of Japan just this week tweaked the gold markets yet again to make the price even cheaper and to continue the downward trend.

You guys who pride yourselves on your self-assigned genius over the rest of us really ought to be able to put 2 and 2 together to equal four, i.e., when gold is in such a great demand among Asian and other emerging economies' central banks, why is the price always as low as its been long term and still going down. Does the market know something you guys don't know....like maybe there's an invisible hand that is buying gold while simultaneously keeping the price low and lower...and has been doing it for a long time besides.

That if gold ever goes to $3000 oz the value of US gold holdings declared and undeclared would approximate $3 Trillion.

For now however try starting with this which has enough doomsday in it to please any Mad Max wannabe but which still leaves the USD as the global currency....

"In addition to a likely string of sovereign defaults in Europe and an outright currency collapse in Japan, the global debt drama would end with an epic US dollar rally, a dramatic reversal in capital flows, and an absolute bloodbath for emerging markets.

"Extending that outlook, China – seen by many as the world’s rising power and the most resilient economy in the wake of the global crisis – would face an outright economic collapse, an epic currency crisis, or both.

"Any break-out beyond upward resistance is an incredibly bullish sign for the US dollar and an incredibly bearish sign for carry trades around the world that have been funded in US dollars. It's a clear sign that we may be on the verge of the next wave of the global financial crisis, where financial repression finally backfires and forces all the QE-induced easy money sloshing around the world to come rushing back into safe havens [the USDollar]."

http://www.forbes.com/sites/johnmauldin/2014/10/27/a-scary-story-for-emerging-markets/2/

In other words, while what's very likely coming will be serious and global, it is the complete opposite of what you guys have been living for, and the US will pretty much escape the most of it, an Atlas with a Herculean dollar wrapped around his globe.

i dont think you read nor understood the google reference I posted

The post (further above) that I replied to is, well, cryptic but it does suggest a certain direction to the course of events discussed in the, well, it's not exactly a link either.

The post immediately above is, well, rather cryptic if I may use the word yet again to describe another post of a same or similar nature.

In other words, you are invited to make a post that is reasonably intelligible as well as minimally clear, thx.

You of course are not obligated in any way to do these things, which may be a very welcome relief to you.

[Asiantravel]

Who writes this trash? Oh, never mind. Not a lot if brain power behind any if this.

This is nothing but a last ditch push to try to push the price of gold up

It keeps falling and the dollars get stronger

only a fool wants gold now

Gold shall see 700 dollars soon

Well, we can say there are1 billion Indian fools that do because they have finally forced the Indian government to lift restrictions on import.

We can also say there are1 billion Chinese fools with ‘normal’ annual supply to the gold market around 4,000 tonnes annually.

So what is that? Around one third of the worlds population don't agree with you.

The Reserve Bank of India (RBI) has abandoned a rule that hindered gold imports into the country, a rule that had became a primary cause of smuggling as well. The 80-20 rule, as it was often called, required traders to re-export 20% of the total amount of gold imported into the country.

http://www.bidnessetc.com/30008-india-lifts-8020-gold-import-restriction/1/

[jpinx]

The world economy is based on trust, even when we had the gold standard, but now trust is heavily eroded and the value of everything is diminished. There's few things that can form a real material basis for a currency, gold, oil, land, all are manipulated by markets and politics. Currencies are bits of paper and are only as good as the promise printed on them.

[Asiantravel]

how is it possible that there is a shortage of gold when gold prices keep tumbling day after day, the skeptics will ask? Simple the shortage involves gold "available" in the repo market, i.e., gold that already has been rehypothecated one ore more times.

Gold Shortage, Worst In 21st Century, Sends 1Y GOFO To Lowest Ever... And India Just Made It Worse

http://in.reuters.com/article/2014/11/28/india-gold-imports-idINKCN0JC1GY20141128

[Asiantravel]

the small Indian farmer and the avarage Chinese worker regard gold as money (as an insurance against the constantly eroding value of their paper currency). They are only interested buying and keeping the physical stuff for the future. Indians have for centuries regarding gold as a means of saving money.

they have no interest whatsoever in all this Gold Forward Offered Rate (GOFO) stuff which undoubtedly distorts the market, which has led us to the preposterous situation where demand is rising and the supply is restricted (leading some desperate Indians up until recently to resort to even smuggling gold in their stomachs) and yet the prices are falling

http://www.pmbull.com/gofo-negative-gold-forward-offered-rate-what-does-it-mean/

Edited November 30, 2014 by Asiantravel

[jpinx]

It's not important what you base your wealth n, in the end it will be eroded by others who have more of the same commodity. There's a huge amount of gold (for example) which is not allowed onto the market for fear of the value dropping, Same with oil -- as the recent OPEC meeting demonstrated. Everything depends on trust, and that is what is missing nowadays.