First Venezuela, then Germany, and now the Netherlands want their gold back.
In the wake of this week’s ruling by the German Federal Accountability Office that Germany must repatriate and audit 150 tons of its gold reserves from the NY Fed over the next 3 years, a Netherlands citizens committee has filed a petition demanding the Central Bank release informationon the quantity and storage location of the Netherlands’ physical gold, and on the extent and nature of the gold claims.

In the words of one of the petitioners Tom Lassing: The last years have seen a loss of trust in the financial system and we have been fooled a lot. So I say: Just let the central banks like DNB show the gold is really there.

Should the citizens committee be successful, we are confident they will discover the vast majority of the country’s gold reserves- 10th largest in the world at 612,000 kilograms, are held in the basement of the NY Fed.
As we stated several days ago, the jig is now up.  The German accountability office will trigger an avalanche of gold audit, delivery, and repatriation requests around the Western world.   We wish the Fed luck staying ahead of the cascading avalanche of requests to convert unallocated (rehypothecated) gold into solid physical metal.  They’re going to need it.

From Nederlands Dageblad

Almost 300 “concerned Netherlands citizens” have joined the German initiative for insight about the gold reserves.

In a petition the citizens committee demands “full openness on the quantity and storage location of the Netherlands’ physical gold, and on the extent and nature of the gold claims.”

In Germany a lot of uneasiness has risen about the quantity, value, and quality of the gold reserves, which have not been audited in many years at various storage locations. Led by the tabloid newspaper Bild, German news media are wondering whether the 3.4-million kilograms of ingots are really there (valued at about E150 billion).

Under pressure from the German federal audit office, part of the gold stock will be repatriated from the United States to Frankfurt.
The Netherlands faces similar uneasiness about the position of its gold treasure — 612,000 kilograms with of a value of about E25 billion. The gold, in part located at De Nederlandse Bank in Amsterdam (about 10 percent), is also located at the Federal Reserve Bank of New York, in Ottawa, and London.

The Netherlands comes tenth on the list of gold reserves. The United States leads with 8.1 million kilograms. Germany comes second.

Tom Lassing, one of the signers of the petition and owner of the website beursbox.nl, says central banks are unjustly mysterious with gold reserves.

“The last years have seen a loss of trust in the financial system and we have been fooled a lot,” Lassing says. “So I say: Just let the central banks like DNB show the gold is really there.”

According his fellow signer Harm van Wijk of beursbulletin.nl there is every reason for an audit. “The reliability of politicians appeared not very great on the Greek issue, so rather than being ostriches we should seek certainty on the gold reserves.”

One of the concerns is that the gold reserves of central banks has been pledged repeatedly through negotiable title deeds. Experts like commodities dealer Eric Sprott maintain that there is much more “paper” gold in circulation than there are ingots in the bank vaults.

Since 1990 the Netherlands has sold almost 1.1 million kilograms of its gold reserves.

  1. Well let’s see how Uncle Ben handles this fray. It means to me at this point that U S creditability
    is on it’s last leg as a fudiciary government. I can hear Bennie saying, ” Have you tried calling The
    Rothchilds, Rufus Gene, Leroy, Cowboy Clyde, Lee Henry Logene Lucas or The Clanton Crowd, GEEZ
    the last I heard poker games wee being played with it. Gotta be somewhere! Good Luck to you boys,
    I really don’t know nothin’about where your Gold is. When I get home, I’ll dang sure look under my mattress.
    I’ll try to let you know.

  2. C&P from FB side …  

       The ‘snowball’ is quickly accumulating size and volume! That’s a good thing! It means the banks and their enabler governments are closer to putting up … shutting up … or getting bowled over. This is fun to watch.

    • That’s why we should also start stacking some physical gold. But, it is harder to find them. At my local coin shops, it is very rare to find a piece of physical gold and when the dealers have one, the premium of it is very high! I’ll buy a piece of gold whenever it is available for sale at a good price.

  3. PatFields nailed it – IF the Fed, et al who are supposedly sitting on the Gold are unable to produce it, then Gold will indeed go parabolic.  And should this occur – can you guess what else will also increase in price?
     
    Hint:
    From the childhood rhyme, ‘Mary Had a Little Lamb’:
    Everywhere that Mary went, the lamb was sure to go.
    -  -  -  -  -
    Except in this case, the lamb has silver fleece.
     
    You see, all the wisdom you really need to know in life – is tucked away in those nursery rhymes & childhood tales we pass down to our children!

    • My Thoughts exactly. This is where these various Governments may place hit(s) on those responsible! They have been looting various countries Gold for decades. They can’t place this on the common man or woman. Those at the Fed and various TBTF institutions. Now If I was President Obama. I would start arresting all those involved now! Send a clear message that you will not risk the wealth, health and welfare of other countries as well as our own..

    • Maybe there will be another gold confiscation that will happen in the USA so that the government will be able to return the other countries’ missing golds. That’s one more reason why you should buy silver instead of gold. :)

    • That’s no way to live, boinked in the lederhoser..
      This is a run on the banks in slow-motion. They must keep gold from breaking out somehow, so silver’s ass is grass.
      Watch for a major raid Sunday night, gang. Stand easy with that dry powder. You might get a good deal Monday.
      Storm clouds have silver linings. 

  4. Here’s another “WHEN” From Wealth Daily


    $8,690 Gold: by January 1, 2013, it will be too late
    On June 18, 2012, the Federal Reserve (and the Office of the Comptroller of the Currency) quietly issued firm warnings to all banks to prepare to implement the new rules that make gold a legal currency — the same as cash.
    I will tell you all you all about this “Bank of Bankers,” a powerful cabal that presumes to dictate even to the U.S. Fed, and how their actions will lead to the most profitable gold opportunity of your lifetime.

  5. Sorry to say that I had to take up for Bernanke the other day.

    One of my friends told me he thought Bernanke ate Chicken S..t and chased rabbits!
    I told him that I have never heard anything about Ben chasing any rabbits!!!!!!

    I hope ole Ben appreciated that I took up for him.

    • “That`d cool… but is 300 people enough?”

      How about 300 lawyers with enough financial backing to bury the Fed in a blizzard of lawsuits?

  6. It sounds like clarity, will someone please give me clarity?  Gold and Silver are Precious Metals, totally separate from fiat money.  Knowing exactly here your money is a greater importance as this re-hypothecation  (Dreamy world) of everything will be fine.  Words are not FACTS.  In this financial crisis, your friends become your enemies & enemies become your friends.  Precious metals have lasted more than 5000 years, yet fiat money has only lasted less than 50 years.  So the precious metals cannot be manipulated to extreme as fiat currency.  Furthermore, the taste is IN the pudding, such as in your own Country.  Or in another countries vault. In closing, SHOW ME THE MONEY, or SHOW ME THE GOLD!!!  The panic has begun.  We are now in a Financial War.  What can the federal reserve say in New York?  Everything will be fine?

  7. Wow! That was faster than I expected! I though another country is going to demand its physical gold back after a year or more. Gold’s price will go up very high since banks don’t have the physical golds so they will have to buy them again from the market.

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