Legendary gold trader Jim Sinclair has sent an email alert to subscribers today regarding last night’s news that Germany will begin repatriating it’s gold held on deposit at the NY Fed back to the Bundesbank, as well as all 374 tons held at the Bank of France.
Sinclair states that history will look back on this salvo fired across US war financing as being the beginning of the end of the US dollar as the reserve currency of choice, and that under normal circumstances, no major central bank would insult another major central bank in the way that the Bundesbank just has.

Sinclair states that the Bundesbank repatriating its gold reserves is the most significant event in the gold market since Charles De Gaulle called the US hand that it would stand by convertibility, and that gold is headed to $2111 in the near future in the wake of the Bundesbank’s actions.

Sinclair’s full MUST READ alert below:


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From Jim Sinclair:

Charles De Gaulle was the first person in modern history to call the hand of the USA on its then obligation to convert French held dollar reserves into gold. I was a senior trader at the time.


History will look back on this salvo fired across US war financing as being the beginning of the end of the US dollar as the reserve currency of choice.


The reaction on the part of the US was to cut the tie between the dollar and convertibility. This again raises the question of does the USA have fungible gold to the degree that is claimed without 3rd party audits or any viewing publicly whatsoever.


If it is true as reliable sources today reported that Germany wishes to repatriate a significant amount of its gold, then that request is a modern version of the first salvo that Charles de Gaulle fired at the US treasury over convertibility.


Assume that no close violated Alf’s downside price and it is possible that today’s revelation concerning Germany is an event leading to gold’s first main target above the recent high of $2111. It is significant because under normal circumstances no major central bank would insult another major central bank in that manner.


Today’s report, if true, is a salvo fired at the concept that the USA has all the gold it claims and all the gold it stores for others. If true, this event is the most important gold development since Charles De Gaulle called the US hand that it would stand by convertibility which many then assumed it could not because even then the amount of gold held was publicly questioned.


Please review the following video of Charles De Gaulle


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  1. “Indeed, there can be no other criterion, no other standard than gold.
    Yes, gold, which never changes, which can be shaped into ingots, bars, coins,
    which has no nationality and which is eternally and universally accepted
    as the unalterable fiduciary value par excellence.”
    Charles de Gaulle

  2. I’m not trying to burst anyone’s bubble but Sinclair said, “If it is true as reliable sources today reported”I know it’s going to crash eventually but I’m not going to get to overly excited at this news. I also don’t believe the Banksters are going to sit down quietly and let it happen so I’ll just Keep On Stacking.

    • Hit a couple LCS today looking to pick up another Gold Buffalo or Gold Eagle……Zip. Nada. None to be had, for what ever it’s worth.

    • @Marchas
      Never have heard, “This is what is going to happen”, Without a doubt the following is going to happen”. Regardless what anyone says, “I am positive this is going to happen”. Etc, Etc, Etc,! Nobody knows for a dang fact what is going to happen and I am out of stack money, we have to eat here, like my dog, just waiting for something to happen! 

    • @4oz well at least you can still buy some more Silver. Keep Stacking
      I’ve found that buying on ebay is just as cheap as buying at my LCS who make you pay sales taxes. Sheeee

  3. Listen to the French Media chirping. LeCroak, Le Croak, LeCroak.
    Zee silly Germains did not listen to see Doc’s Law ‘ If vu don’t holdez zee gold, est pouffe. Eet iz fini. Merde, how stupid can zeh be?

    • In all fairness to the French though,
      the French have the highest rate of personal gold ownership in Europe. The French are not stupid. The average Frenchman is conservative and patriotic (case in point, homo marriage is still illegal there, and the country is massively protesting Hollande’s decision to try and introduce it).
      And the French have a very powerful military (people can make jokes about the Germans rolling into France, but if France is so weak, how do they manage to keep over 95% of Africa’snatural ressources?).
      And, after the Cold War, the silly USA, UK and other NATO nations slashed the Russia departments of their intelligence service by over half, yet the French didn’t trust the Russians and kept their Russian desks at the DGSE etc. fully manned and funded at pre-Berlin Wall levels.
      Well, years later, when Putin came to power, the USA, UK, Germans etc. were drastically uncapable of dealing with Russia (intelligence and counter-intelligence), and they had to rely on the French.

  4. http://harveyorgan.blogspot.com/
    Behind Closed Doors
    by James Turk

    Let’s put one and one together here to see if we can come up with an answer. According to Virgil Mattingly, the ESF has authorized gold swaps, presumably in the recent past (circa 1995). According to Ted Truman, the only outstanding swap facility of the ESF (circa 1995) other than the one established for Mexico is their facility with the Bundesbank. Ergo, the ESF has a gold swap facility with the Bundesbank.

    It’s an interesting proposition, and one that fits well with another newly discovered fact. Some very interesting sleuthing by Mike Bolser, who has been assisting Reg Howe in his lawsuit against the BIS, has revealed that the Treasury has made a small but very significant accounting change. Mike noticed that the Treasury Department has changed the designation of nearly 1700 tonnes of inventoried gold at the US Mint’s facility in West Point, New York (approximately 21% of the total US Gold Reserve) from “Gold Bullion Reserve” to “Custodial Gold”.
    The August 2000 Status Report on US Treasury Owned Gold stored at West Point has a designation of “Gold Bullion Reserve”. See: But the September 2000 and subsequent status reports inexplicably designate this same gold that is stored at the US Mint in West Point as “Custodial Gold”. See:
    This change was made without explanation, so rather than let the matter remain unexplained, Mike diligently contacted the Treasury asking what seemingly are two uncomplicated questions. Would the Treasury please explain why they made this change, and what does this change in designation mean with respect to the ownership status of the gold at West Point?
    They are simple questions, but perhaps they touch too close to a nerve. Not surprisingly, the Treasury so far has not responded to Mike. I have some views on what Mike discovered, and why the Treasury is so quiet about it. I think this change in asset classification is related to the ESF gold swaps. Here’s my thinking.
    The change Mike spotted possibly occurred as a result of accountants looking at the financial statements of the US Mint being prepared for its annual report ending fiscal year 2000. Note that the previous director of the Mint (Phillip Diehl) resigned in early 2000, so this was the first annual report signed by the new director (Jay Johnson). If there is one thing that government bureaucrats do well, they take great pains to call things by their right name. To do otherwise would put their job in jeopardy if something under their responsibility came under Congressional scrutiny, and it was subsequently determined that the name assigned to something was incorrect or misleading.
    Therefore, this change in the descriptive label for nearly 1,700 tonnes of gold at West Point from “Gold Bullion Reserve” to “Custodial Gold” was purposeful. It happened for a reason. This conclusion is all the more plausible because the Treasury did not change the classification from “Gold Bullion Reserve” to “Custodial Gold” to describe the gold stored in Fort Knox or at the US Mint in Denver. Maybe new US Mint director Johnson saw something he didn’t like. What could that have been?
    I’ve already put one-and-one together to establish that the ESF has “gold swaps” with the Bundesbank. It therefore does not require much conjecture to add one supposition to the equation by concluding that the gold in West Point has been swapped with gold owned by the Bundesbank, thereby necessitating its reclassification from “Gold Bullion Reserve” to “Custodial Gold”.
    Sorry German, you get paper gold instead of your physical.  IMO, this story could get very ugly this week if the ESF, which is controlled by the New York Fed, tells the Germans that their gold was reclassified in 2000 from
    “Gold Bullion Reserve” to “Custodial Gold”.  “Custodial Gold” can be rehypothecated and leased out many times.  Oh the shit is going to hit the fan soon.  Let the fire works begin!

  5. Foreign countries need to understand that gold repatriation is like a game of musical chairs.  Except instead of 10 players vying for 9 chairs, 10 players are vying for 1 maybe 2 remaining chairs and that if push comes to shove there may be no remaining chairs just cash outs.

  6. Start of the fall of the USA to oblivion. The US will find some small print saying they could repatriate the gold and off Germany a bunch of treasures instead. Germany will tell them to stuff it.

  7. I am a little unclear about how much gold is requsted by Germany. Is it 375 tons? Or all of it? If its 375 then the Fed can just move some labels around, raid iran or syria or someplace soon to make it better.
    So which is it?

  8. Here is a bit of conjecture.  Iran has over 5,000 tons of gold by its own admission.  The leaders of this large and heavily armed country have seen how the US and other countries have ring fenced Iran with military forces and bases. Iraq, Afghanistan, Libya, Egypt and other countries have been invaded, often on specious false flag reasons, and if you look closely those invasions had as their source the western world’s needs for oil and other natural resources.  Iranian leaders cannot possible be blind to these invasions and the  strip mining of their neighbors resources invading forces from  western countries. It would as if Canada, Meixco and half the countries in Central America were invaded by a foreign force. This knowledge would, for no other reason, prompt the leaders to develop aggressive defenses against attack including nuclear weapons. Those change the defense dynamic completely.   While Iran is larger than Texas and Alaska combined, with 67 million population and a GDP of $700 billion, it is vulnerable to attack either through currency and trade sanctions or militarity.  Leaving aside their threats to Israel and the export of terrorism to other countries, a means to an end defensively, the 5,000 plus tons of gold must be a hugely tempting target. $300-40 billion in gold is worth fighting for.
      Iran is the 4th largest oil producer in the world, importing hundreds of tons of gold from China, India and Turkey for petroleum exports. Its gold trade not only represents a poke in the eye to the western powers but also allows it to acquire serious weight of gold, eroding the currency empire of the western world.  Iran might even be a hegemonic tipping point to the US’s petro dollar, replacing it with the petro gold system. Now that would create a stink of cosmic proportions, blasting the US dollar to pieces

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