gold repatriationThe State Oil Fund of Azerbaijan has withdrawn the first ton of its physical gold from JP Morgan vaults, and placed it in their own Central Bank vaults in Baku.
The Fund has announced it will withdraw all of its physical gold assets from JP Morgan warehouses in London.

The game of musical chairs known as bullion banking allocated (rehypothecated) gold storage appears to be rapidly coming to an end.

 

As  abc.az reports, the first ton of physical gold has already been transferred out of JP Morgan vaults via Brinks:

Baku, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) has placed today the first ton of physical gold in the safety vaults of the Central Bank in Baku, purchased at the London Stock Exchange of Precious Metals (LBMA) within the SOFAZ investment policy.

According to the Fund, today British company Brink’s Global Services delivered from London to Baku and placed 1 ton (32,150 ounces) of gold owned by SOFAZ in the CBA vaults.

The Oil Fund has been acquiring physical gold since February 2012 in batches of 10,000 ounces a week. By early 2013 SOFAZ brought its gold assets up to 14,934 kg (480,146 ounces).

Initially London-based warehousing units of JP Morgan were selected for storage, but now all the gold will be gradually transferred to storage in Azerbaijan. Prior to the completion of construction of a new residence of SOFAZ this gold will be stored in the CBA vaults, and then will be transferred to the Fund’s own store in its residence at Heydar Aliyev Avenue in Baku.

SOFAZ investment policy allows it to keep in gold up to 5% of assets.

 

The size of the gold withdrawal from the cartel bullion banking system is not the important thing in Azerbaijan’s announcement- rather the increasing liklihood that our bankster friends will soon be facing repatriation requests from every last rehypothecated gold bar owner.

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    • It was little Venuzuela repatriating who set off the run to 100 in 2011. Since like Jeff Christian says, the LBMA gold is leveraged 100-1, a ton here and a ton there, makes a difference.

    • Thanks for the link.  Good information.  Seems like the tide is turning for the hedge funds investing in gold.  I really liked the part about physical gold in this article. 

  1. I’m still wondering if the population at large is waking up. People know, “something ain’t right” out there.
    Been hearing for years people are slowly waking up….with all this noise can people still sleep?
    Can’t help but wonder if a bunch good ole boy golf buddy’s from Texas country clubs or some NBA hoopsters or some NYC jet setter type peeps with some deep pockets don’t awake and collectively begin buying in large quantity sometime soon.

    • I believe the “deep pocket” guys ARE dabbling, however, like Obama’s tired “take from the rich to help the poor” it only goes so far.  What is needed is for the “masses” to come to their senses and start buying.  Then, you will see a spike in the price of silver (and gold) that will be breathtaking.  Its coming, but not until an event, maybe a bank holiday, takes the steam out of the sheeple and they see what WE have been seeing for all this time.

    • Yep.
       
      Well if the looming debt downgrade doesn’t do it wonder what will.
       
      Bond crisis.
       
      Debt crisis.
       
      Dollar crisis.
       
      ZIRP.
       
      Still drought conditions no one is talking about.
       
      Lot of chaos out there.
       
      Still find it hard to understand that people like the status quo so much they can’t see.
       
      Example– Joe Blow has an IRA. In it is 40k. Joe looks at his monthly statement as sees that it earned $5.50 for December….He doesn’t take the time to grab a calculator and see that at 5% that 40k would have brought him $167….that the Brenanke just stole $162 from him in December. Multiply that over all the peeps and all the accounts & Cd’s……wtf?
       
      Is No one paying attention at all?
       
      How can people not see??
       
      Don’t they care???

  2. Hmm, could we have a ” false flag event” to the tune of someone nicking their gold from new storage facility in Azer’ so that these upstarts learn to leave it in London for our graciouse queen (god bless her) to view?

    • @ranger
      And what a great opportunity it was too!  Brown bottoms aside I am sure the UK`s isn`t worried about gold going abroad since we have it here and now rather like the US and the fed, yes you can have your gold but we just need to dig it up first.  This may take a while, breath slowly and count to ten years +. 

  3. Back on topic.  The Azerbaijanis did not just awaken to the value of PM’s; they merely wised up and decided that now it the time to bring their Gold home, where it belongs.
     
    An anecdote:  I used to work with a (HOT) young immigant from Azerbaijan.  She told me how – during the war there in the early 1990′s – her family fled to Moscow for safety.  They had no money and were very poor, and she remembers selling the family silverware they brought with them, on the streets of Moscow, to get cash to live on.
     
    I can’t help but wonder whether any of the people who were influential in Azerbaijan’s decision to repatriate its Gold, had a similar experience.
     
    But don’t worry, this can not happen here in the USA, so keep on stacking that paper.  (/sarcasm off) 

  4. Docs site is messed up on my computer, anyway, sure people are wising up, something is going on behind the scenes that we don’t know OFF yet and when everything come crashes down, there will be hell on earth. So Keep Stacking, I am.

  5. I just Love it when “The When” Ball is rolling. What? who is getting what kind of inaugeration?
    Like the Harbough Brothers meeting in The Super Bowl, history is being made, not necessarily repeated.
    Manning brothers, back to back Super Bowls, never to be repeated!
    Boy are the world banksters peeing in their pants! Max Keiser should have a ball!

  6. I think that the story about the silver eagle shortage is very indicative of the fact that Americans are waking up and stacking to the best of their ability.  This new story about Azerbaizan gold repatriation just adds to the story.  Most Americans do not have the money to buy silver.  They are just one paycheck away from living on the streets.  I think the key will be when the mutual funds begin to buy more metals.  Not the typical Joe, who is struggling just to pay off credit cards etc.  Lets see what happens with silver eagle premiums.  I think they are going to stay high for awhile.  Maybe go higher.  In Panama where I live the premiums on a silver eagle can be 20 % or more.  There just isn’t that much metal available here.

  7. With all of more than a dozen countries now wanting their Gold back in their
    own country, “The Doo Doo is about to hit the proverbial fan!” The New York
    Fed vault is believed not to have the Gold that is stated. JP Morgan the world’s
    largest criminal bank in bed with our Federal Reserve is headed for total collapse.
    The have approximately 2 Trillion in assets and 79 Trillion in paper derivatives
    that are becoming totally worthless. Total world banking derivatives total 140-150
    Quadrillion. Think about it. The world economy will totally collapse in 2013!
     
    Moreover the U S dollar will lose the status soon as The World’s Reserve Currency
    as more and more countries are losing faith in the Dollar and the Euro.
     
    The U S Treasury is having problems with producing American Silver Eagles and
    report that they will restock by January 28, but that is a wait and see event. 
    I would think that excuses will curb any mass production

    • People have been making calls incorrectly on the timing of the collapse for a good while.  What makes you think that you can call this?  Yes, there is a probability of a collapse in 2013.  Anything is possible.  One thing that has been proven is the ability of the Feds to forestall the collapse which should have happened in 2008.  If you want to talk probability’s you could say that in all probability the US economy will collapse sometime during Obama’s last term in office.  I am guessing that is a very good possibility.  As far as timing what year this will happen?  Hell, if we knew that we would all go short at the right time and become filthy rich.  I think it is going to be a big surprise when it happens.  We will wake up one morning and read the news over coffee.  

    • I won’t be a surprise to me when the system crashes as I have been expecting it for a long time and I am well prepared for such an event. The only thing that I will be surprised about is, If It Didn’t Happen At All. Keep Stacking if you can.

  8. Asking for gold now is like playing musical chairs.  The first get a place to sit.  The last gets s***.  
    Knowing that the biggest buyers get the gold first,  Average Joeusually  gets nothing.  Gold’s drawing effect on the price of silver allows the little guys and gals to get into the game.

  9. @PolloKeeper
    I base what I have said on several things, further U S credit downgrade, Gerald Celente, Gold repatriation and Shadowstats data. The small hole in the Dam is becoming larger exponentially! There will no longer be any gradual decline in world economics as the domino affect is in place and it will of course happen overnight.
     
       

    • I agree with you 100%.  The diagnosis is terminal.  We just dont know when the patient will croak.  Knowing all this everyone should be moving out of the city, to a more quiet place where they can prep in peace.  Or, even better, move to nice quiet place like Panama, away from the chaos that will certainly come our way once the patient croaks.  Moving out of the US is not for everyone that is for sure.  In my situation it made sense.  Choose your austerity while you still have time to choose it.  Forced austerity is really going to be tough on the spooge.  They will want your preps.

  10. People are indeed waking up to the need to own PM.  I actually succeeded in getting my brother and sister-in-law to wake up.  They suddenly got it last week, then ordered 30k of 10 oz bars to stash at home.  Hi ho silver!

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