|Where has all the Deutsch Gold Gone?|
Yes, where has all the German gold gone?
93 BILLION dollars worth of gold apparently
sitting in the US Federal Reserve in New York and the Germans being refused
permission to see it?
This gives credibility
to the often pronounced theory that there is no gold, or very little, in the
Federal Reserve. Otherwise why would the Fed not allow Germany to see its own
Maybe they spent it.
You know how it is.
Someone gives you 93 billion dollars worth of gold to look after, Well
wars come and go, and they are expensive. Then the economy has its ups and
downs. The dollar gets a pounding and,
well one thing leads to another and it gets (cough cough) spent. How embarrassing! Of course you can’t open the doors to the Fed
and expose all that … Emptiness. I mean who would ever trust you again?
Perhaps the Federal Reserve’s alternative to gold is
stone. Stonewalling that is. The Fed is
refusing to allow the Germans to see their gold. According to Wealth Wire,
“Previous and repeated requests were only partially
addressed. Bundesbank staff members were allowed to see the facility in 2007,
but they reportedly only made it to the anteroom of the German reserves.
Bundesbank auditors made a second visit in May 2011. This
time one of the nine compartments used to store Germany's gold was opened. Only
a few bars were pulled out and weighed, but that was it.”
And details of that itsy bitsy little inspection was blacked
out in a report, “Out of consideration for the Federal Reserve Bank of New
York.” Go figure.
Germany owns 1,536 metric tons of gold, currently worth around
$93 billion at today’s’ prices. Perhaps they should call the bluff and ask for
the gold to be returned to Germany? Do a
The Feds refusal to allow an inspection and in a recently leaked
report from the German auditors about the gold reserves entrusted to the Fed, Carl-Ludwig
Thiele, a Bundesbank board member said, "I would like more transparency on
Thiele was then summoned to Berlin to explain his comment to
a parliamentary budget committee and stated to the committee that, "all
the gold has to be shipped back."
According to GATA, “…the German financial journalist Lars
Schall called attention to remarks delivered Thursday by a member of the
executive board of the German Bundesbank, Andreas Dombret, at a reception held
at the Bundesbank office in New York in the presence of the president of the
Federal Reserve Bank of New York, William Dudley. Dombret's remarks, appended
here, confirm that, as GATA often has reported, Germany's gold reserves are
held in large part at the New York Fed to facilitate their presumably secret
trading, since, as Dombret notes, "Frankfurt is not a gold-trading
Despite a pledge from the Bundesbank to retrieve 150 tones
of gold from overseas, it is moot point how much they will really get to
inspect. Currently it is 11 percent. 89 percent to go. Don’t hold your breathe.
If the fed has spent it, or lent it out or ate it, they are
not saying and we may never know. The
question remains then, where has all the Deutsch Gold Gone? Long time passing.