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The Dutch central bank, De Nederlandsche Bank (DNB), has repatriated in utmost secret 122.5 tonnes of gold from the Federal Reserve Bank of New York (FRBNY) to its vaults in Amsterdam, The Netherlands, according to a press release from DNB published today (November 21).
De Telegraaf reports that for years there have been doubts at the DNB if the Dutch gold was still in New York. After a very secret and almost military operation DNB has shipped gold from Manhattan to Amsterdam, to bring about a more balanced allocation of its gold reserves and give the Dutch citizens more confidence by storing the gold on own soil to guide the country, if necessary, through a following major crisis. In the previous weeks many armored trucks were seen at the DNB in Amsterdam. Quote from De Telegraaf:
According to the World Gold Council’s latest data DNB has 612.5 tonnes in official gold reserves
the Dutch set a new trend to insist on immediate delivery.
originally posted by: MarioOnTheFly
So the Dutch gold is now evenly split between the US and the Netherlands at 31%.... Up until now, the US was...errr..."safe keeping" around 51% of Dutch gold.
the government has concluded that stashing half its bullion abroad is prudent after all.
Germany will repatriate 30 to 50 tonnes in 2014, or perhaps even more, from New York to Frankfurt. This was confirmed by the BuBa on July 11, 2014, after the publication of the Bloomberg article. The Buba will continue to repatriate 295 tonnes from the US and 342 tonnes from France in 2014 – 2020 to have 50 % of its reserves on German soil.
Many Swiss voters are still weighing up the arguments in the gold initiative, which aims to impose a minimum gold reserve on Switzerland’s central bank, but opinion is moving in the ‘no’ direction, according to the latest national poll.
The poll, carried out by the GfS Bern research and polling institute in the first half of November, puts the ‘yes’ vote at 38%, a fall of six percentage points since the institute’s previous poll, four weeks earlier.
Meanwhile opposition to the initiative has risen to 47% of respondents, up from 39%, indicating some late momentum in the ‘no’ camp.
It will not make any difference where the gold is as one central bank is indistinguishable to any other central bank.
In 2012, Germany had requested that 674 tonnes of its gold be repatriated and was told by the U.S. that it would take eight years to achieve.
The New York Fed and the French Central Bank managed to transfer a paltry 37 tons, with only 5 coming from the US.
This amount represents just 5% of the stated target, and was well below the 84 tons that the Bundesbank would need to receive each year to collect the 674 tons 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 was taking so long is that the gold simply was not in the possession of the offshore custodians, having been leased, or worse, sold without any formal or informal announcement.
When Germany heard it would take 8 years to get their very own gold back, they got extremely concerned and requested to look at their gold in the U.S. vault. Their request was refused. This occurred in 2013.
Only a tiny 5 tonnes of gold out of 674 owed were sent from the NY Fed between 2012 and now.
The first shipment of gold to Germany was not even their gold
as they had given the U.S. to safeguard after WWII.
Instead, they received strangely melted down bars,
that were obviously not theirs.
It is noteworthy that in 2013, a mere 5 tonnes were actually delivered from NY to Frankfurt. And even for these miniscule volumes there is no evidence, either by an external auditor or by video documentation, that real gold bars (allegedly untouched in the Fed´s vaults since the 1960s) have been moved across the Atlantic.
Bundesbank has even melted down and allegedly re-cast these bars for no apparent reason! We have not received any audit report of this process, no report from the (unknown) performing smelter, and no bar lists from “old” or newly cast bars.
UPDATE NOVEMBER 2014 in an interview with Boehringer and Eric King:
Eric King: “But, Peter, the Germans asked to see their gold supposedly stored at the New York Fed and they were told, ‘No,’ by the Fed. The absurd excuse given to the Germans was that their entry into the vault would somehow represent a ‘security risk.’ This is of course preposterous but that was the lie that was used to conceal whatever truth the New York Fed did not want the Germans to discover -- namely that their gold was already sold into the market.”
Boehringer: “That’s absolutely right. I can only agree with you that it is preposterous. Even the 5 tonnes that have been repatriated back to Germany from the Fed had to be recast. Why in the world would our original serial-numbered gold bars deposited into the Fed for safekeeping have to be melted down and recast into new bars?
This caused great concern on our end because it only increased the speculation that the German gold had already been sold into the market and was not safely stored in the New York Fed’s vault. This is my opinion also. I don’t believe that the Fed has our gold and that’s why they would not allow for the gold to be seen by German officials.