Germany’s Entire Gold Hoard At The Fed May Already Be Gone

[Celebration]

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/16_Germanys_Entire_Gold_Hoard_At_The_Fed_May_Already_Be_Gone.html

Interesting article

Germans have asked for their gold back but just some of it and over a period of many years...............why?

Today a legend in the business told King World News, “... the German gold hoard, which is supposed to be stored at the Fed, may already be gone.” Keith Barron, who consults with major companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, also believes countries like Germany, Austria, and others are in serious danger of having claims on their gold stored at the Fed evaporate.

“In the case of Germany, the gold was sent abroad to France, and to the Federal Reserve Bank of New York during the Cold War because of fears the Russians may overrun Germany and seize the gold.

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Those kind of fears evaporated a long time ago, and there is no reason for the Germans to have the gold elsewhere. In the last year, somebody in the ministry was interviewed and they were asked why the gold was still abroad? They said, ‘To facilitate trading.’ Well, this is exactly why the gold shouldn’t be elsewhere. It should be sitting there as the patrimony of the country, and it should be inviolate.

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I believe that most of the Western world’s gold, which is supposed to be in central bank vaults, has been leased out. Much of it is now in private hands in India, and what remains continues going East to China and other Asian vaults. So most of the Western gold has vanished from the vaults and it’s now just a book entry.

These various Western countries and bullion banks simply roll these leases over when they come due, and the gold never gets returned back to the countries. So it’s very interesting to see what’s going on. Obviously the trust is breaking down in the system.

[rhett o rick]

1. k&r

[Tuesday Afternoon]

2. dominoes, falling.

[Mojorabbit]

5. I love your sig line. :) nt

[Tuesday Afternoon]

6. ;-)

[dixiegrrrrl]

3. and Brown, while Prime Minister, sold England's gold at bargain basement prices.

Jus' saying....

[Mojorabbit]

4. Will be interesting to see how it plays out. nt

[Celebration]

7. here is how the gold carry trade works

Have to read the whole thing, so not quoting.............

http://www.rapidtrends.com/gold-carry-trade-what-is-it/