In other news:
– “Monkey Business” Surrounding the Repatriation of Germany’s Gold Stored at the NY Federal Reserve Bank. (Global Research, Jan 8, 2014):
As you know, Germany has reported that 37.5 tons were delivered last year, which is about 50 tons shy of what was the announced plan last January and was expected to be delivered over the course of 2013. Peter Boehringer (Germany’s equivalent of GATA’s Chris Powell here in the States) asked many questions of the Bundesbank, the most central being: Why was this gold “recast” before being returned?
As there has not been an audit of Fort Knox since the 1950′s, nor a bar list made public since this German gold was claimed to have been deposited with the Federal Reserve Bank of New York back in the 1950s, this is a can of worms that has already been opened and any “answer” will only lead to more questions.
So why exactly would the gold need to be recast before sending it back?
Never mind the obvious question that we’ve already asked. Why will it take up to eight years to send the Germans their gold?
You see, gold has a “fingerprint.” Once it is refined down to 99.999 percent pure, the fingerprint is erased. For example, the “coin melt” that came from the 1934 confiscation has a fingerprint of 90 percent purity. The gold the Soviet Union was selling back in 1990 was 89 percent pure and had the czar’s stamp on it, which was a dead giveaway that they were out of gold (money). They collapsed within six months and it was foretold by this “fingerprinted gold.”
For these 37.5 tons to be recast brings up the question: Where did it come from? Was this the original gold that was safe-kept? Or was the German gold leased out a hundred times over and is this gold being recast and returned from another source?
Is this like the bank employee or even retail cashier who stole from the register with the intent of replacing it before anyone found out?
This is a very legitimate question because we know for a fact that demand has outstripped supply for 20 years or more — and the supply had to come from somewhere, right?
If the gold was held on an “allocated,” basis then the bars should at most need a feather duster to clean them up before shipment — unless they are not the same bars. There is no other explanation for this, as the New York Fed would have no incentive to go through the process of recasting (refining?) even an ounce if the Fed was shipping what was originally stored. Germany would not and should not expect its gold back in form other than how it was originally delivered to the New York Fed.
I call “monkey business” on this one because there are just too many questions. The questions collectively all have the same obvious answers. All these obvious answers point to the same conclusion: The German gold that is being delivered is not the same gold that was supposedly deposited more than 50 years ago. That their 300+ tons (20 percent of the supposed total of Germany’s gold in New York) will take more than eight years to deliver means that it’s not just sitting in a corner collecting dust and waiting patiently to be delivered — it was mobilized and “used” years ago. The conspiracy wackos who used to be laughed at with their (our) farfetched questions and claims had merit after all — and all along the way!
Please remember that even though this gold that has been delivered no longer has any fingerprint left to it, foreigners can (and will) eventually come to the obvious conclusion. The process may take longer and be far more complex and obfuscated than the Soviets delivering gold with the czar’s stamp on it, but the result will be the same.
We live in an era where everything is supported by confidence, so how confident will anyone be if (when) it is known that the gold is long gone?
This is a very serious question and is the core reason I have been screaming to buy gold for more than 15 years no matter what the price has been. Any price between $252 and $1,920 over the last 15 years has been too low by orders of magnitude. In my opinion you could add a zero to the prices of gold and silver and still possibly not have the price necessary to clear the market.
We will not know exactly how much monkey business has already gone on until the music stops. Whatever levels gold and silver do finally settle out to when the dust clears will be an indicator as to exactly how much. All you need to do is read the questions that are being asked and then use common sense. Any and all questions speak to one thing: There has been fraud. Gold and silver in their physical forms are anti-fraud and will be priced accordingly after the revelation.