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to repatriate 674 tons of gold from the New York Fed and the French Central Bank, it had managed to transfer a paltry 37 tons. This amount represents just 5% of the stated target, and was well below the 84 tons that the Bundesbank would need to transport each year to collect the 674 tons ratably over the 8 year interval between 2013 and 2020. The release of these numbers promptly angered Germans, and led to the rise of numerous allegations that the reason why the transfer is taking so long is that the gold simply is not in the possession of the offshore custodians, having been leased, or worse, sold without any formal or informal announcement. However, what will certainly not help mute "conspiracy theorists"
originally posted by: InverseLookingGlass
a reply to: GallopingFish
They've been selling ( intentionally dumping) physical on the Comex for many years to manage the price. Buyers in the East are gobbling it up.
The dollar isn't backed by gold anyway.
It's backed by secret treaties with prominent OPEC countries and the overseas projection of the US military. If the US military ever fails a test, the US will plunge into a crippling depression with rapid inflation of the $. IMO, this is why the US does all it's fighting with weak countries and with proxies. Bush and the Neocons squandered a lot of capacity in Affie and Iraq.
originally posted by: Wrabbit2000
We elect 2 sets of people who are supposed to *BE* the direct power which we cannot be. Senators/Congressmen and the President. Just who the heck is Treasury to tell United States Senators or Congresspeople that they can ONLY see a part and only once, on a special day in a special way and under 10 types of special conditions?