Yes, yes , and yes...... You are onto something here.
welcome back to fast money……..
let's talk about our market mystery, because this is a question that's been plaguing our traders all day here. look at that. the german bank is bringing home its gold, saying, quote, by 2020, the bank intends to store half of germany's gold reserves in its own vaults in germany. the question is, why is germany moving gold out of the united states? big question. why don't they trust us anymore? guy? well, lower manhattan, actually. couple things. this was out yesterday and i wasn't here yesterday so i want to -- you've been thinking about it. when it came out and the conspiracy theorists, i get all that. this is a huge story in my opinion, that is not a huge story now, but will be a huge story. why is that? because you have to ask yourself, why would germany decide to do this? what do they see that the rest of us don't see that requires them to physically move this gold out of lower manhattan and obviously in paris, as well, back to their borders? and i think that's really the question you have to ask. and the answer is, it can't be anything good. and if you think this is the first time, it's not. because the wacko down in venezuela did it a couple of years ago because people dismissed it -- because he's a wacko. right. if germany is going to be the last, they're not. people will line up and do this. you talk about runs on banks? this could be exactly that. if everybody wants their metal back at once, you better hope, a, that it's there and b, we're able to do it. and i'm telling you, the act itself is not bullish gold necessarily -- wait a minute. i have a question. question. go ahead. germany owns this physical gold, so, why is there any risk that is everybody is pulling their gold out that it won't be there. give the exact answer. when i worked at drexel berner, 1990, and you're going to say, you're a real back job -- i was going to say, you're old. we don't have time. drove the gold of central banks. it was their gold, but we had it. when the bankruptcy hit, everything was frozen. though it was their gold, they had no access to it. beeks can speak to this, as well. so, it's a lot better to have it in your possession than to have it in your possession in somebody else's vaults. the gold market is a little weird. if you buy a share of stock, it's yours, it's in your account. that's not the way it is with gold. there's not necessarily a serial number on every gold bar that says your name. is there maybe not enough gold in the bank? yeah, potentially. you sound like a real conspiracy theorist. well, gold is lent out every single day through the london bullion market. it's lent everywhere. so, if you have everybody trying to come after it at onetime, just look at what happened with mf global. a lot of people involved in that, warehouse receipts. took awhile to get that back, so, you need to be concerned. i think the bigger picture is, why is germany doing this now. exactly. they've had it here for 40-some odd years. why today? maybe they have their own vault. germany's got 10% of the world's gold reserves and to men, i don't think this is going to be a catalyst to other people. i certainly don't think why it's that big of a deal to give germany their gold when it's not backed against anything. so, this is the reason why people -- this is why gold is the thing people want to hold. there's nothing backing gold. there's mortgages. they don't have to worry about the soviets, which is why they moved it here in the first place. let's think about why they moved it here in the first place. you don't think it's a big deal and you do -- the netherlands, actually, have said they want their gold back, too. mystery. for now, it will remain a mystery. 2nd Link (video clip)
Mali is Africa's third largest gold producer after South Africa and Ghana. Mali produced 53,7 t of gold in 2009. 3rd Link
Originally posted by Mimir
reply to post by michael1983l
Agreed you cant eat gold and it would seam kind of useless if the entire worlds economies broke down. But it would be a good thing as backup if the NWO plans fails with some surviving economies and you as a nation has to rebuild a trustworthy none-fiat currency.
Originally posted by michael1983l
I'm not sure that Germany are trying to end the current currencies, if they were why have they recently invested so much in propping up the Euro?