German Central Bank Completes Repatriation Of $28 Billion In Gold Three Years Ahead Of Schedule

All the repatriated gold is probably destined to be stolen during WW3.

German Central Bank Completes Repatriation Of $28 Billion In Gold Three Years Ahead Of Schedule:

This closes out the entire gold storage plan – around three years ahead of the time we were aiming for,” reported Carl-Ludwig Thiele, Member of the Bundesbank’s Executive Board.

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Bundesbank Has Completed Gold Repatriation From New York Fed, Three Years Ahead Of Schedule

Bundesbank Has Completed Gold Repatriation From New York Fed, Three Years Ahead Of Schedule:

In January of 2016, the Bundesbank announced that three years after commencing the transfer of some of its offshore-held gold from vaults located at the Banque de France in Paris and the NY Fed in New York, it had repatriated a total of 366.3 tonnes, bringing the German central bank’s gold reserves held in Frankfurt to 1,402 tonnes, or 41.5% of Germany’s total gold of 3,381 tonnes, for the first time greater than the 1.347 thousand tonnes located at the New York Fed, which as of January 27, 2016 held 39.9% of Germany’s official gold.

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Bundesbank Repatriates Gold From New York, Paris “Faster Than Planned”

Bundesbank Repatriates Gold From New York, Paris “Faster Than Planned”:

In January of 2016, the Bundesbank announced that three years after commencing the transfer of some of its offshore-held gold from vaults located at the Banque de France in Paris and the NY Fed in New York, it had repatriated a total of 366.3 tonnes, bringing the German central bank’s gold reserves held in Frankfurt to 1,402 tonnes, or 41.5% of Germany’s total gold of 3,381 tonnes, for the first time greater than the 1.347 thousand tonnes located at the New York Fed, which as of January 27, 2016 held 39.9% of Germany’s official gold.

“With approximately 1,403 tonnes of gold, Frankfurt has been our largest storage location, ahead of New York, since the end of last year,” said Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank. “The transfers are proceeding smoothly. We have succeeded in once again significantly increasing the transport volume compared with 2014. This means that operations are running very much according to schedule,” added Thiele last January.

Read moreBundesbank Repatriates Gold From New York, Paris “Faster Than Planned”

Bundesbank Proposes Raising German Retirement Age, Sees Demographic Shock

Bundesbank Proposes Raising German Retirement Age, Sees Demographic Shock:

Earlier today, the German Bundesbank, in its monthly report had some good and some not so good news.

The good news was that, at least for now, the German economy is not being impacted by Brexit. This, however, will change as the facts suit the central bank, and especially if and when a convenient scapegoat is needed should German GDP suddenly sink.

Read moreBundesbank Proposes Raising German Retirement Age, Sees Demographic Shock

“Freedom Always Dies Bit by Bit”: Bundesbank Takes Sides in War on Cash

“Freedom Always Dies Bit by Bit”: Bundesbank Takes Sides in War on Cash:

There are two sides in the global war against cash. On one side are many of the world’s governments, central banks, fintech firms, banks, credit card companies, telecommunication behemoths, financial institutions, large retailers, etc. According to them, the days of physical currency are numbered, so why not pull the plug already, beginning with the largest denomination bills such as the $100-note and particularly the €500-note?

On the other side are people who like to use cash – most of whom, according to the dominant official narrative, are either criminals or terrorists. After all, they must have something to hide; otherwise, why would they use a private, untraceable (not to mention archaic, dirty, dangerous and unhygienic) form of payment like cash?

Read more“Freedom Always Dies Bit by Bit”: Bundesbank Takes Sides in War on Cash

Germany Has Repatriated Over 366 Tonnes Of Gold From New York And Paris

Update on Bundesbank Gold Repatriation 2015:

Deutsche Bundesbank has just released a progress report on its gold bar repatriation programme for 2015 – “Frankfurt becomes Bundesbank’s largest gold storage location“.

During the calendar year to December 2015, the Bundesbank claims to
have transported 210 tonnes of gold back to Frankfurt, moving circa 110
tonnes from Paris to Frankfurt, and just under 100 tonnes from New York
to Frankfurt.

Read moreGermany Has Repatriated Over 366 Tonnes Of Gold From New York And Paris

Bundesbank Slams ECB’s “Bridge Financing” To Greece

Bundesbank Slams ECB’s “Bridge Financing” To Greece (ZeroHedge, June 24, 2015):

The Bundesbank’s Jens Weidmann unleashed a litany of cticisim on the Eurosystem (read the ECB) when he said that Greek banks should not continue to buy the short-term debt of their government, which is then repoed back to the ECB in exchange for precious cash. “The Eurosystem must not provide bridge financing to Greece even in anticipation of later disbursements,” said Weidmann, who also sits on the European Central Bank’s Governing Council, which approves such funding to Greece. “When banks without access to the markets buy debt of a sovereign which is likewise locked out of the market, taking recourse to ELA raises serious monetary financing concerns,” he said in a speech to be delivered at a conference in Frankfurt.

Bundesbank Blasts Draghi For Breaking Bailout Taboo

Bundesbank Blasts Draghi For Breaking Bailout Taboo (ZeroHedge, May 14, 2015):

“The head of Germany’s Bundesbank ripped into the European Central Bank on Thursday, saying emergency funding for Greek banks broke the taboo of financing governments and it was not up to central banks to decide who was or wasn’t in the euro zone,” Reuters reports.

Germany’s Bundesbank Resumes Gold Repatriation; Transfers 120 Tonnes Of Physical Gold From Paris And NY Fed

gold repatriation

Germany’s Bundesbank Resumes Gold Repatriation; Transfers 120 Tonnes Of Physical Gold From Paris And NY Fed (ZeroHedge, Jan 19, 2015):

Three weeks ago, when looking at the latest NY Fed data of foreign gold held at the largest central bank gold vault in the world, we showed that in the month of November not only was a near record amount of gold withdrawn from the NY Fed, which at 42 tons was the single biggest monthly outflow at the NY Fed in over a decade…

Ny Fed gold November

… but that though the end of November, all of the Netherlands’ 122 tons of gold withdrawals had been fully accounted for. This brought up an interesting question:

Read moreGermany’s Bundesbank Resumes Gold Repatriation; Transfers 120 Tonnes Of Physical Gold From Paris And NY Fed

Kudos To Bundesbank President Jens Weidmann For Uttering Three Truths In One Speech

Kudos To Herr Weidmann For Uttering Three Truths In One Speech (David Stockman’s Contra Corner, Oct 17, 2014):

Once in a blue moon officials commit truth in public, but the intrepid leader of Germany’s central bank has delivered a speech which let’s loose of three of them in a single go. Speaking at a conference in Riga, Latvia, Jens Weidmann put the kibosh on QE, low-flation and central bank interference in pricing of risky assets.

These days the Keynesian chorus in favor of policy activism is so boisterous that a succinct statement to the contrary rarely gets through – especially at Rupert Murdoch’s Wall Street yarn factory. But here’s what penetrated even Brian Blackstone’s filters:

“The biggest bottleneck for growth in the euro area is not monetary policy, nor is it the lack of fiscal stimulus: it is the structural barriers that impede competition, innovation and productivity,” he said.

Read moreKudos To Bundesbank President Jens Weidmann For Uttering Three Truths In One Speech