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Real Physical Gold vs Manipulated Paper Gold - Rory Hall (10/7/2017)

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July 10, 2017

Long time readers of The Daily Coin may remember we interviewed Peter Boehringer, the architect for the German Gold Repatriation Movement. Peter has been skeptical of the information provided by the Bundesbank since day one. Bundesbank, Germany’s Central Bank, has never once produced a gold bar serial number, an assay or any actual tangible proof that Germany has ever received any of the gold they requested from clutches of the Federal Reserve. This would have never been a question as Germany would have all their gold had World War II turned out different and the Germans feared the Russians would steal their gold. So, they allowed their gold to be moved to the New York Federal Reserve and France for “safe keeping”. I feel confident the Germans were strong-armed by the “allies” after WWII and forced to give up a portion of their gold. Even in the 1940’s, it seems, “Russia did it” was the meme of the day. – but I digress.

To hear another interview featuring Peter Boehringer with Sean and Rory on SGTReport – click here

In January 2013 Germany made a formal request for the return of 300 tons of gold being held (hostage) in the New York Federal Reserve and an additional 374 tons being held (hostage) in France. The Federal Reserve said it would take until 2020, a full seven years, to return the 300 tons. To put this into proper perspective the Shanghai Gold Exchange in China has been known to move more than 300 tons of physical gold in one weeks time – far less time than seven years. Why the long delay? If Germanys gold is being held (hostage) in the NY Federal Reserve, simply audit the gold, pack it up and ship it out. It really shouldn’t take more than, conservatively, a month.

As of June 2014, eighteen months later, Germany had only managed to repatriate a paltry 37 tons or approximately 15% of the requested gold.

Fast forward to what we know as of December 2016. Mr. Boehringer explained to the world the German gold being held (hostage) was not physical gold, but paper gold promises. In an article published at GATA, Peter explains the situation.

The important news came December 21 from the major German news agency, DPA-AFX, and most likely was written by the Bundesbank itself for DPA-AFX. The news agency published a German-language news brief that was uncritically republished by most German newspapers and magazines without anyone recognizing its political, economic, and historical sensitivity.

The news item said: “… in den 1950er und 1960er Jahren wuchs der deutsche Goldschatz rasant. Denn. … Bundesrepublik [hatte] dank des Exports viele Dollar, die bei der US-Zentralbank gegen Goldforderungen eingetauscht werden konnten.”

In English: “Germany’s gold hoard grew rapidly in the 1950s and 1960s. Thanks to its export surplus, the Federal Republic amassed many dollars that could be exchanged at the U.S. central bank against gold claims.”

The news brief’s term was “gold claims” — not “physical gold bars,” which both the Bundesbank and the U.S. Federal Reserve contend have constituted the German gold reserves held in the United States.


So it is reasonable if we now consider nearly official what gold “conspiracy theorists” have been assuming for decades. That is, the German gold reserves supposedly stored abroad and especially at the Federal Reserve Bank of New York most likely never existed in physical form since the 1960s. Rather the German gold supposedly stored abroad most likely has been only a matter of accounting book entries. Source

So, it appears there has been a paper game going on for the past several years, which explains what Louis Cammarosano uncovered. Germany is actually losing gold and has a lot less gold today than they did in 2013.

Isn’t that interesting? It appears Germany’s national gold has actually declined by approximately 15 tons since 2013 and since 2007 Germany’s national gold stack has dropped by 45 tons! Who now has the gold that Germany sold into the market? Why, on the one hand, is Germany asking for their gold to be returned and on the other hand selling gold?

In 2014 the Federal Reserve allegedly shipped 85 tons of gold to Bundesbank. 50 of the 85 tons were supposedly recast gold bars. How do we know this? Where are the gold bars, what are the serial numbers and where are the assays? I thought all the “repatriated” gold was merely a ledger sheet entry – this is from Bundesbank!! What is going on with the gold and ledger sheets of this crime syndicate? I thought it was illegal to operate a company, especially a bank, with two sets of books! How many sets of books is Bundesbank actually using?

This shows another angel of how the paper gold game is played. On the one hand Bundesbank, the Federal Reserve and the governments of both countries have supported the “idea” that Germany has “repatriated” close to 700 tons of gold, while in fact their gold stash has been in decline. This lack of regulation, integrity, honor and rule of law the world over, should be another sign that we, the citizens, are on our on.

The chart above shows a steady decline year after year after year. It appears to be a fairly consistent drop, meaning Bundesbank is shedding roughly the same amount of gold each year, like making an annual payment using gold.

Update July 9, 2017 – In the companion video to this blog post, I noted that I would contact the Deutsche Bundesbank to determine why they have been steadily selling gold. I received a twitter notice from @BullionBaron with an excerpt from the 2016 DB annual report indicating that DB sold 3,045 kg or 0.1 million oz of gold to the Federal Government at market prices for the purpose of minting gold coins. I reviewed DB annual reports for the period covered by this blog post (2007-2016) and there is a note in each one indicating the sale of gold each year between 100,000 -200,000 ounces for the purpose of minting gold coins.

DB noted in its 2012 annual report: “As part of its management of gold reserves, the Bundesbank has, since 2002, been selling small amounts each year to the Federal Office for Central Services and Unsettled Property Issues to mint gold coins. In 2012, it sold around 4.9 tonnes of gold in total for the minting of the €100 gold coin “UNESCO World Heritage– Aachen Cathedral” and the €20 gold coin “German forest – spruce”. The sales took place under the extended gold agreement between the central banks of the Eurosystem, Switzerland and Sweden in August 2009.” A similar note appeared in the 2011 DB annual report, indicating a sale of around 4.7 tonnes for the purpose of minting the €100 gold coin
“UNESCO World Heritage– Aachen Cathedral” and the €20 gold coin “German forest – spruce”. Source

Another Western “developed” nation selling their national gold hoard. Canada sold all but 77 ounces of their national gold hoard in 2016.

Without the rule of law these types of crimes against humanity will continue unabated. Gold is the key to a healthy, lawful monetary system. Without gold exposing the lie the fiat currency is telling we should only expect corruption, fascism and endless war – such as we have experienced for the past 50+ years.

China and Russia seem to be following the golden rule – he who has the gold makes the rules. With both nations acquiring gold, along with several other smaller “emerging” nations, it appears, they are planning to make the monetary rules in the near future. Avoid the rush – keep strong and keep stacking.


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