Bundesbank Makes Official Announcement, Will Repatriate 1/2 of Germany’s Gold Reserves

big resetIt’s official.  The Bundesbank has just invoked pure holy terror among the bullion banking cartel.  The Bundesbank will officially begin repatriating 1/2 of Germany’s gold reserves.  The real question is why now? What has changed over the past 3 months?  Is Germany preparing to leave the Euro and introduce a gold-backed Deutsche Mark?

By 2020, the Bundesbank intends to store half of Germany’s gold reserves in its own vaults in Germany. The other half will remain in storage at its partner central banks in New York and London. With this new storage plan, the Bundesbank is focusing on the two primary functions of the gold reserves: to build trust and confidence domestically, and the ability to exchange gold for foreign currencies at gold trading centres abroad within a short space of time. The withdrawal of the reserves from the storage location in Paris reflects the change in the framework conditions since the introduction of the euro. Given that France, like Germany, also has the euro as its national currency, the Bundesbank is no longer dependent on Paris as a financial centre in which to exchange gold for an international reserve currency should the need arise. As capacity has now become available in the Bundesbank’s own vaults in Germany, the gold stocks can now be relocated from Paris to Frankfurt.

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From the Bundesbank:

Deutsche Bundesbank’s new storage plan for Germany’s gold reserves

By 2020, the Bundesbank intends to store half of Germany’s gold reserves in its own vaults in Germany. The other half will remain in storage at its partner central banks in New York and London. With this new storage plan, the Bundesbank is focusing on the two primary functions of the gold reserves: to build trust and confidence domestically, and the ability to exchange gold for foreign currencies at gold trading centres abroad within a short space of time.

The following table shows the current and the envisaged future allocation of Germany’s gold reserves across the various storage locations:

31 December 2012 31 December 2020
Frankfurt am Main 31 % 50 %
New York 45 % 37 %
London 13 % 13 %
Paris 11 % 0 %

To this end, the Bundesbank is planning a phased relocation of 300 tonnes of gold from New York to Frankfurt as well as an additional 374 tonnes from Paris to Frankfurt by 2020.

The withdrawal of the reserves from the storage location in Paris reflects the change in the framework conditions since the introduction of the euro. Given that France, like Germany, also has the euro as its national currency, the Bundesbank is no longer dependent on Paris as a financial centre in which to exchange gold for an international reserve currency should the need arise. As capacity has now become available in the Bundesbank’s own vaults in Germany, the gold stocks can now be relocated from Paris to Frankfurt.

 

 

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Comments

  1. @The-Doc what are the possible legitimate reasons for giving themselves until 2020 to retrieve their gold???

    • “By 2020, the Bundesbank intends…”. This press release’s purpose is to pacificy Merkel’s critics prior the election, and the German Court that ruled Bundesbank needed to control its gold. Bundesbank cant repatriate its gold, cause their is no gold to repatirate without spiking gold. Likewise the ending of ZIRP, QE, the release of the Silver Investigation are all put off into the nebulous future. So the charade continues…

    • Nothing more than a false flag, or a hidden message to the ones in-the-know. 

    • They’re repatriating 19% of their reserves back into Frankfurt over 7 years….  That’s approx 2.7% yearly, not a big stinking deal.  It may be the beginning of other repatriations but in and of itself, it’s a drop in the bucket. 

    • The reason that you can’t withdraw your gold from the FED at call is that it is not there for delivery. The gold must be encumbered by the Fed through swaps, leases or rehypothications of some order of magnitude that it is a logistical nightmare to unwind the corruption. There can be no other excuse for the Fed to deny immediate delivery and the Germans are playing a “perception” game to placate the public. This won’t wash because the game has changed. This is the first real signal that the music has stopped and the rush for a chair begins. Other big players will take acute note and act accordingly.

    • Because it is goin got take the fed that long to steal… err buy that much gold to deliver.

  2. 2020???? Give Me A Break. Hell in 7 years they may be able to dig that amount out of the ground. All this publicity for nothing. Sheee Hell I thought they wanted it yesterday. LMAO

    • As a matter of fact, they probably ARE digging it out of the ground because they do not have the bars on-hand for delivery!
       

  3. If they REALLY want their gold they may want it by 10:20…………………….. tomorrow!!!
    In 2020, when they have failed to get it all back, they will have 20 -20 hindsight…
     
    At the rate we are going now, there may not even be a 2020!

    • Damn-straight, SS.  The entire world financial system is unlikely to make it past 2016, IMO.  Maybe they also know this and are scheduling the impossible to occur when it will not matter anymore?

  4. By 2020!??! Lame!  No news here..move along.

  5. Don’t underestimate the effect this will have on other sovereign nations…  Hugo Chavez started the avalanche, Germany is just the latest snow to break loose and begin the downward rush.  Who will be next?  And then whom?  And then whom?  The timing of the delivery is less significant than the message it sends about the breakdown in confidence in the United States and the Federal Reserve… there is a reason for the timing too…. watch and learn.

    Buckle UP!

    •  ”there is a reason for the timing too”
      Care to share that SE… time for the banks to settle the several leasehold claims on it perhaps?

    • Heh heh… there is ALWAYS a reason why such events occur when they do.  It’s just that the rest of us do not know it.

  6. Obviously Germany, in its conversations with the central banks realize that they cannot get all their gold back all at once.  They have negotiated a time frame for getting this done with the banks.  I don’t think it is the intent of Germany to cause an immediate crisis or to jeapardize the chance of getting any of their gold back.  However, other Soveriegns will also begin to demand repatriation of reserves.  This is going to snowball eventually.  I believe that Germany will eventually discover the truth that they will never get all their gold back.  At this point, getting some of it back would be a good thing.  This issue could even cause war.

    • If it does snowball, you can rest assure that it was intended to do that. Create a crisis to accomplish two things: 1. Become the hero in adverting a catastrophe that you secretly caused, 2. Increase the value of the gold you possess. The bottom line is still all about money and how much you can make. That is all these bankers live for.

    • I’m thinking that Germany ALREADY knows that they will not get all of their gold back and are playing nice in an effort to get SOME of it back.  Those who are first in line will get some of their gold back while those who are not near the front of the line will get zip.

    • First golden domino in the chain.

  7. This 2020 thing is a farce. BUBA knows that BOE does not have the gold at this time and needs to give them 8 years to get it out of the ground.  In the meantime we can expect more  Kubuki theater drama frim everyone involved.

  8. SD’s headline is inaccurate: “will repatriate 1/2 of Germany’s gold”.  They already have 31% in Germany.  They are repatriating 11% from Paris and 8% from NY.  Only 374 tons over 7 years.  Germany has 3400 tonnes of total reserves.  
    SD is more than slightly addicted to emotional drama.  This run rate is pretty much in line or even less than the “100 tonnes per year” rate that was suggested back in November, probably as a trial balloon.  Now it is official although somewhat softened. Nevertheless, the overall story is important, more so than just this official notice.
    More interesting is whether all the headlines generated by the official news has any secondary / unintended consequences and whether Germany increases their repatriation rate over time if / when things continue to deteriorate in the western financial world.
    The camel now has his nose in the tent.
     

    • I agree with Credo, it`s over egging the cake with golden eggs or something any way the figure speak for themselves IE:
      8% from the NY Fed
      11% from Gay Paris
      = +19% going to Frankfurt Main total of 50% 
      What I feel is probably a lie is the timescale of 2020 for this switcheroo.
       
       

  9. I believe this is where the German’s gold is located…
    http://www.geekologie.com/2013/01/ahahahahaha-my-god-youre-doing-it-so-wro.php

  10. This could be an experiment to see if the German’s can actually get any gold from their foreign…., hummmm, friends. Trying to get small amounts over a period of time may be more productive than insisting for the total amount to be returned immediately.

    • Indeed so, Snowrider.  Politics being “the art of the possible” is in full effect here.  I strongly suspect that the Germans know that their gold is gone but are holding the NY Fed’s feet to the fire in an effort to get some of their gold returned, even if it has to be freshly mined and minted first!  The NY Fed, of course, has very little choice here.  They can go along with the Germans or they can admit that the whole thing is a complete farce, the gold was stolen, and they aren’t getting it back.  If they were to do that, confidence in the US and its bonds and dollar would disappear almost instantly, sparking a worldwide depression of horrendous magnitude.  No one wants that.  Well, no one directly involved in this matter does, at any rate.  The Chinese and the Russians would not mind tipping the apple cart over just to watch the rest of us scramble for those loose apples.  Old political saying:  In chaos there is advantage.

  11. Seems like even less than a half-assed operation to me. Clearly they either lack balls to do what their people ask them to do, provoke the big boys club. Or, they see the grim truth, the gold simply is not there. They will be shown a default, or they can get these tiny amounts over the next few years as a bit of a bandaid. Greece’s creditors got a better deal thusfar with that haircut on outstandings.
    2020, what will the world look by then? Will the gold reserve farce still need to be fully exposed by then?
     
    The gold is supposed to be there. Ain’t nothing to it but to send an navy vessel and collect it from each country where it’s currently “stored”. 

  12. Kevin  for the life of me I can’t figure out why a character named Datta P huge, from Pimpri Chinchwad needs any gold appliances. You can’t make that up.  With a name like that?!  I see Bollywood’s newest porn star

    • Kevin when I watched that video, all I could do was look at his face. He would have been better off fixing up his teeth LMAO Great name though Pimpri suited him. Lol

  13. Sounds more like musical chairs for the gold a few families own in different banks around the world. After all, just who actually owns this gold? Countries? Or, the families that run these counties?

  14. The Banks will give them NEW GOLD for the next 7 years! Plenty of time to steal1500 tons!!!

  15. Iran has 500 tons they say!

    • When iran is soon turned into a radioactive ashtray, most of those 500 T of Gold will have been vaporized.

    • Funny thing about gold.  It tends to be stored in heavily fortified underground steel reinforced concrete vaults with very thick steel doors.  Unless there is a direct hit on the vault itself, it should survive the passing of Tehran, no problem.  It WILL be said that it didn’t, of course. 

  16. Just wondering whether the germans who are pushing for gold repatriation will also get cancer, the way Hugo Chavez has.

    • There is an ancient saying about this… as you sew, so shall ye reap.  While this may be fitting for some, one cannot help wondering why it is that so many younger people in the liberty and truth-telling movements are dying off.  I refer to this as Breitbart’s Disease and cannot help wondering whether or not this is being helped along by TPTB.  This reminds me of the old west movies where the bad guy is eventually shot full of holes, the town doc shows up, and says, “Yep, worst case of lead poisoning I’ve ever seen.  Case closed.  Let’s have a drink!”.  Thus ends the biggest problem the town has… er, had… with no charges filed.

  17. In the overall schemes of things, this timeline from the German central bank is all but incontrovertible proof hat the Gold held at the other central banks is encumbered and not available to be repatriated immediately.  Since no fiat currency is presently backed by Gold, and Gold is not officially used for trade or commerce, there is absolutely no reason that they would want to wait until 2020 to get 100% of their gold back on German land.  This was absolutely done to give the other central banks the ability to continue to manipulate Gold prices using German Gold.  A rise in Gold prices spells disaster for the bond market, and confidence in the bond market is the only thing keeping the present financial system afloat.
     
    Maybe this proclamation by the German central bank was done to appease the German people, but the German people better realize that by 2020 the other 50% of German Gold held overseas might be completely gone for good.

    • “A rise in Gold prices spells disaster for the bond market, and confidence in the bond market is the only thing keeping the present financial system afloat.”
       
      Those of us who have studied the various markets around the world are well aware of the fact that the bond markets are in a horrendous bubble at the moment.  Like ALL other bubbles before it, it will pop one of these fine days and life will be vastly different afterwards than it was beforehand.  The bond markets are now in a race with the derivatives market to see which of them will end the world financial system as we know it.  One, the other, or both of them can and will do the deed.
       
      Why anyone in their right mind would even touch a bond with a stick these days, let alone buy one, simply amazes me.  These are one of the worse possible investments out there.  With real inflation running at 9-10% here in the US and Bernanke even admitting to 3.2% inflation in 2011, buying a bond that pays about 1/2 the rate of admitted inflation is financially suicidal.  On top of that, the interest the bond pays will then be taxed as “profit”.  It is no such thing and everyone with even a little financial knowledge is well aware of it.
       
      I had a substantial investment in TIPS some years ago.  At that time, these inflation protected securities were seen by many as a great investment.  I did as well, for a time.  Then, thanks to info I found on the Internet, I discovered that the Gov and the Fed were distorting the markets and hiding the fact that both unemployment and inflation were considerably higher than they were admitting.  It occurred to me that by manipulating the rate of reported inflation, they could set the CPI to virtually ANY number they wished… and were doing it!  Because of this, there was no real protection from inflation with the TIPS bonds.  What there was, however, was a HUGE conflict of interest between the Gov and the citizens over correctly reporting inflation numbers that directly affected the payments to the TIPS holders.  Once I realized this, I sold the TIPS position for about a 16% profit and never looked back.  I was among the early people to exit these securities and made a decent profit on them, mostly due to the falling interest rates that Bernanke ushered in.  Oddly enough, there are some people in the financial community who are still recommending TIPS as a “safe investment”.  IMO, they are nothing of the kind, and anyone who owns them or any other Gov paper should sell them immediately.  Owning them is like swimming with a school of great whites.  Sooner or later, they WILL get hungry and the weakest swimmer amongst them will be lunch.  Don’t be in the pool when that happens. 
       

  18. An article has appeared on The Atlantic that is highly recommended reading:
     
    The Atlantic, Jan 2013
    By Noah Smith

    The End of Labor: How to Protect Workers From the Rise of Robots

    “For most of modern history, two-thirds of the income of most rich nations has gone to pay salaries and wages for people who work, while one-third has gone to pay dividends, capital gains, interest, rent, etc. to the people who own capital. This two-thirds/one-third division was so stable that people began to believe it would last forever. But in the past ten years, something has changed. Labor’s share of income has steadily declined, falling by several percentage points since 2000. It now sits at around 60% or lower. The fall of labor income, and the rise of capital income, has contributed to America’s growing inequality.”…

    “And then there are more extreme measures. Everyone is born with an endowment of labor; why not also an endowment of capital? What if, when each citizen turns 18, the government bought him or her a diversified portfolio of equity? Of course, some people would want to sell it immediately, cash out, and party, but this could be prevented with some fairly light paternalism, like temporary “lock-up” provisions. This portfolio of capital ownership would act as an insurance policy for each human worker; if technological improvements reduced the value of that person’s labor, he or she would reap compensating benefits through increased dividends and capital gains. This would essentially be like the kind of socialist land reforms proposed in highly unequal Latin American countries, only redistributing stock instead of land.”…
     
    It seems incredible that only 60% of all income is earned by labor, and the other 40% is capital gains, with a worsening trend.  This is a further sign that the monetary system is broken.  Sound Money is supposed to be a store of labor, but now money is confetti money that is just printed out of thin air.

    • “Sound Money is supposed to be a store of labor, but now money is confetti money that is just printed out of thin air.”
       
      From thin air it came and to thin air it will return.  The circle will then be complete, the equation balanced at zero.  Only those of us older Americans even remember a time when silver was real money that we used almost every single day.  I still recall the day when I was 11 years old and mowed my 1st lawn for pay.  I worked hard and did a good job just like my Dad had showed me to do.  The lady was delighted and gave me a shiny silver dollar for my efforts, even though I had only asked for 50 cents… payment for effort AND a bonus!  Life was good and forever after it was ingrained in my mind that real effort had real rewards.  My parents taught me about the work ethic that I should have in life if I was to be successful but this one event crystallized it in my mind in a way that no one else could have achieved.  Who would have believed that the lesson of a lifetime could be had for a dollar?  Even in these days, the lesson remains:  those who hustle will get, while those who wait for rewards to come to them will not.

  19. I think this is a big deal. We get to see the musical chairs in action, how much French gold is stored in London Vaults? If the physical stuff has to be moved, then I think it will hit the London shelves first and foremost.
     
    Just before Gordon Brown sold off the British Gold to the lowest bidder, Germany was repatriating gold from London back then. Makes you think why Gordon really sold the gold. Helping a friend maybe, The BOE!!!!? shhh don’t tell anyone.
     
    You wonder why the Queen was in the news showing off the gold at the BOE?

    • “Just before Gordon Brown sold off the British Gold to the lowest bidder…”
       
      Yeah, that will likely go down in financial history as one of the greatest blunders of all time.
       
      “You wonder why the Queen was in the news showing off the gold at the BOE?”
       
      Uh, no, actually, I was not… and neither are most of the others who frequent this site.  We are AAA!  Awake And Aware!
      :-)
       

  20. It appears the Germans were ‘read the riot act’ that to demand all their gold back would completely push over the ‘apple cart’. So, the ‘Boyz’ in London and New York will STILL have sufficient ‘ammo’ to lethally wound the Free Market, though their ‘aim’ will have to be a little more deliberate and ‘targeted’. But then, that ONLY applies to gold … the REST is up to us since we’ve ‘got a bead’ drawn on their ‘Achilles Heel’.

  21. A couple of scenarios come to mind. Germany is right on target. Do we really think 1600′s for gold will be the floor. I saw  a post at Yahoo that said gold will touch 999.00 before it hits 1800 again; silver will touch 19.99 before it hits 40.00 again. Could happen with DOW at 3000.
    Hear that Fester!
    Just saw it, but in a currency war where reserve currency, petro-dollar means a lot, could I not think they would do it? 
    2) NYC gets slammed by a tsunami/earthquake/Canary Island scenario. Bye-bye Fed Basement. No gold at all.
    3) Saudia gets taken down by MB, gold stolen.
    4) Iran taken down, gold stolen.
    With BO in office, if they would murder 18 first graders, BO is their man in the WH. They called for 2020 to put the above plans in by 2018, IMO.
     
    Guess a foreign currency holding is in order for me…Swiss or Chinese…or Copper, something. Just a few moves away,too.

  22. “I saw  a post at Yahoo that said gold will touch 999.00 before it hits 1800 again; silver will touch 19.99 before it hits 40.00 again. Could happen with DOW at 3000.”
     
    Yeah, right.  Those guys would have some real credence IF they were buying puts on the things that they claim will be falling in price – essentially putting THEIR money where their mouths are.  Well, are they?  No, probably not.
     

  23. The gold repatriation spread over the next 7 years is germany trying to make the whole plan feasable … however there will be some big money players who know how much stress this will put on the system … i expect that regardless of the very slow time frame it will still not be easy to unwind this gold call …. im not sure how much gold is dug up each year but i am sure that 100 tonnes a year is a large portion of the world output each year

  24. I believe its about 2500tons. I wonder if Heli-ben takes to panning on his holidays.

  25. While reading through some of the responses here, it dawned on me what a huge impediment to liberty the Euro is on the ‘member’ European countries. If Germany wasn’t confined to trade in the Euro, it could use Marks to buy genuine money metals out of circulation to restore its Treasury in spite of the London-New York cabal (and, I should point out it’s very own traitorous bankers).

    So, while howls of denigration rise over the notion of Greece or Spain escaping the Euro prison, it appears that nothing could possibly be better for them to do. From this perspective, that of Liberty, every European country ought to ‘eacape’ thir banker-contrived confinement in exponentially depreciating paper of ALL descriptions … bonds, stocks, currencies, derivatives … ALL of it!
     
    It was an ancient Greek social admonition that ‘So goes the individual, so the family, community and nation’.
     
    Paper Rots, Coin Does Not.

  26. The real question is Why Only Half?

    • Because they’re trapped in the Euro ‘cage’ and don’t really have any choice but to take what terms that currency availability restricts them to. This is the grand ‘queen-check’ that’s accomplished by ‘reserve’ currencies. It was first played out with the British paper ‘pound’, then the American paper ’dollar’, then the pan-European paper ’euro’, and it’s now being orchestrared in Asia with the Chinese paper ‘yuan’.
       
      The whole ‘game-board’ is entirely dependent on absolute control of what’s defined as ‘The Gold Standard’, because elitists in governments and banking can control its circulation and ‘official valuation’ more easily than silver and copper. In the prior scheme, silver and copper gave The Peoples of countries the economic independence to reject gold’s over-valuation and thwart it’s under-valuation based solely on supply-demand factors that could be generally accessed through free market price discovery.

  27. Ok, Germans are pure and stupid MFs. They are annuncing withdrawals yet they actually are not withdrawing anything. But they can trigger numerous other withdrawals which can be full and swift. Even if there at the moment still might be some gold left, after that there won’t be nothing but a bunch of I owe U s. Anybody seen Dumb and Dumber?

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