“Paint by Numbers” quickly reveals the picture, and after the Epic Fort Knox Mnuchin Fail, Today’s German Faux Pas seems like they are getting their paintings from the dollar store…

The following Tweet links to a whopping two paragraphs which lack any detail:

Upon further investigation, we can see that the Germans have been repatriating their gold for years:

 

 

 

 

While we all know this, and while we take a ton of heat for the 3rd through 5th word immediately under that picture above, in addition to any other connotations that “dogging” conjures, well there seems to be a bit of a problem.

Today, the story is also “breaking” in DW, with a little more filler:

In a recent shipment, some 374 tones of the metal, 11 percent of the German stock, left the vaults at the Bank of France, while 300 tones had been removed from the Federal Reserve in New York to the Bundesbank vaults in Frankfurt, board member Carl-Ludwig Thiele told journalists.

“We’ve checked every ingot against authenticity, fineness and weight. We have nothing to complain about,” Thiele said, adding that the secret shipments were finished three years ahead of schedule and at a cost of some 7.7 million euros ($9.1 million). Under the gold repatriation plan announced in 2013, Germany originally envisaged bringing home half of its reserves by 2020.

Germany holds the world’s second-largest gold reserves after the United States, at 3,378 tons or 270,000 ingots of around 12 kilograms each. The amount has a market value of around 120 billion euros. Some 1,710 tons – or 50.6 percent – are now kept in Frankfurt, while 1,236 tons remain in New York and 432 in London

Now, get ready for the punchline, or the punch in the face:

 

 

 

And somebody please compare the two pictures and see if you can count all the reasons why this is so wrong?

In my best guess, we have had two top-down hit pieces on gold this week, and if this whole price suppression and market rigging wasn’t so serious, it would almost be funny…

Gold Bullion Group
    • WRONG putz That’s the gold held by France not the gold held by the NY FED and why do you begrudge them getting their shit back huh? Maybe you would like to get robbed by the FED but they don’t Kabeesh douchebag

    • that would be the old bars above are from France and the new cast ones below are from the U.S?

      I mean we had twelve years of central bank agreement on gold, where they limited their sales so as to not disturb the pricemechanism called market. Sounds pretty anachronistic these days. Guess the agreement has not been renewed. wtf anyway.

      remember a story about the queen of England visiting the London gold vaults, muttering something like what a shame it isn’t ours… just sayin’

    • Since when does it matter what I want? There is a butt load of countries that got their gold hijacked by the US.  Hey you know maybe even my country’s Gold has been hijacked. Why don’t you worry about that a little more there @Larry Silverstein? NO.  I can’t see what is wrong in the picture.   Does that help you now Larry? I want my Gold repatriated Larry.  It’s not that I would begrudge them Larry.  I don’t care.  Who entrusted Uncle Sam with their Gold in the first place?  There are your dimwits for ewe.

  1. First of all, I don’t believe that the Germans will ever be allowed to repatriate their gold. The article points out to this:

    “Some 1,710 tons – or 50.6 percent – are now kept in Frankfurt, while 1,236 tons remain in New York and 432 in London”

    Otherwise they will flip East as goldenjackass suggested.  Second of all, I do not understand this phrase: “German central bank completes move of €24bn worth of gold”. Worth in what valuation? $35 dollars per Oz or $1200 per Oz? Why won’t they report how many ounces of gold were repatriated from where and when?

  2. Can’t say for sure what half-dollar is hinting at, but here are my observations:

    1)  Gold originally deposited had Bundesbank stamp, while bar shown in first photo is PAMP NA.

    2)  Those labels are not S/Ns, but rather some kind of filing identification.

    3)  PAMP NA bar in first photo was cast in 2013, so can not possibly be a bar previously deposited.

    4)  Numbers actually add up.  If 270,000 total bars owned, and 50+% now in Deutschland, that would be ~137k bars.

    Where do I find the answer?…

     

  3. Those who hold the shiny phyzz, makes the rules. Its all good… If you hold it, you own it. One in the hand, is better than two in the bush.. Don’t worry, be happy! 

    It’s hump day, my wifey is worried when I get home… ha..

Leave a Reply