With the announcement today by the Bundesbank that the German's have allegedly repatriated 120 tonnes of their gold held abroad in the United States and Paris, serious questions have immediately begun to emerge about the shady way this co-called repatriatration has taken place. This piece takes a trip down the rabbit hole of today's shady Bundesbank announcement.
January 19 (King World News) – Comments regarding Bundesbank's announcement of 2014 gold repatriations to Germany (120 tonnes)
Bundesbank today has released the already overdue announcement of its gold repatriations to Germany in 2014:
Facts first, then a few official comments from me / from our public campaign "Holt unser Gold heim!" / "Repatriate our Gold ":
– BuBa claims to have repatriated 120 tonnes in 2014 …
– … a number slightly higher than our estimate of 100 tonnes
– allegedly 85 tonnes were transported from NY/Fed and 45 tonnes from Paris/BdF
– 50 of the 85 tonnes from NY have (again) been melted and recast into new bars
– at least 43 of the 85 tonnes from NY must have been transported only in DECEMBER of 2014 (based on US-Fed-statistics)
Our comments as follows:
1. "Holt unser Gold heim" is somewhat satisfied that Bundesbank obviously has reacted to public pressure – and increased its repatriation speed significantly over 2013: 37 tonnes in 2013 compare with 120 tonnes in 2014 (5 tonnes from NY in 2013 versus now 85 tonnes in 2014)!
2. We still are not fully happy with the repatriation process in general for three reasons: speed, transparency and volume.
3. Speed: Average repat tonnages for 2013 and 2014 now stand at 78 tonnes per year. In order to repatriate all German gold abroad (2,400 tonnes), Bundesbank would still take more than 30 years! And there is no guarantee whatsoever whether BuBa will continue to repatriate at the current rate of 78 tonnes per annum.
4. Transparency: Bundesbank has (again!) not given ANY proof for an actual transport from the US or France to Frankfurt. As already in 2013, Bundesbank has again melted down and recast the bulk of the Fed-bars for no obvious/plausible reason and without any witnesses! As in 2013 – "for safety reasons" we-the-owners are not entitled to even see BAR LISTS of (now destroyed) former US Fed bars nor lists of newly cast bars now in Frankfurt…
5. Volume: Bundesbank has not changed its repatriation plan from January 2013 which is not ambitious enough: only 700 tonnes are due to be repatriated by end 2020! This remains unacceptable – the German public (as opposed to Bundesbank!) wants to get ALL its gold back – i.e. not just 1,700 tonnes by 2020 – but 3,400 tonnes asap!
6. We are somewhat irritated that Bundesbank for a mere 120 tonnes of gold transport had to "make use of the help of the BIS" for no plausible reason. According to BuBa´s news release, BIS has also lent its "expertise" for the the melting & re-casting process which -again- is not plausible.
7. We note as a positive, that our pressure and the pressure from the international economic community and the independent media has obviously succeeded by year-end 2014 to significantly increase the speed of Bundesbank´s transports from NY: at least 43 tonnes (out of alleged 85 tonnes) must have been repatriated by BuBa in December 2014 only – based on Fed´s own delivery statistics available through Nov 2014. This number of 43 tonnes could be even higher if (besides the Netherlands) other countries successfully repatriated in 2014 from the Fed (which we do not know yet).
8. We are now in contact / count more than ten international initiatives for transparency / repatriations of national Gold to the respective home soil. These initiatives almost all were started after 2012 and are very heterogenous. Actual repatriations have only happened so far to Germany, the Netherlands and Belgium. Many countries are still in the "pondering"/"discussion phase". But the train to global gold repatriation is definitely running.
Gold is money. The only money not based on credit and without counterparty risk. It is materialized work and materialized independence – both for individuals and nations. But in order to fulfill its role, it has to be on one´s home soil! Transparently and 100% of it!
Munich, January 19, 2015
Peter Boehringer for "Repatriate our Gold" / "Holt unser Gold heim!"
(a public, non-partisan campaign since 2011)
For KWN readers getting the '404 error message' you have to reset your bookmark to www.kingworldnews.com and it will immediately fix this problem.
© 2015 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
The audio interviews with Dr. Paul Craig Roberts, Gerald Celente, Lord Christopher Monckton, Michael Pento, Bill Fleckenstein, David Stockman, Dr. Philippa Malmgren, Egon von Greyerz, Stephen Leeb, Andrew Maguire, John Embry, Rick Rule, Rick Santelli, John Mauldin and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.