More on the German Gold Repatriation Scheme
This story gets more fantastic by the day. Just like The Jelly of The Month Club, I suspect that it will be "the gift that keeps on giving the whole year" in 2014.
So now we're told that Germany actually repatriated 37 metric tonnes of gold in 2013, or about 5% of the total 700 ton repatriation plan announced about a year ago. Of this 37 tonnes, 32 were shipped the 500km from Paris to Frankfurt while a whopping 5 metric tonnes made it across the Atlantic from New York.
We are then told by the various central bankers that the reason for the paltry and delayed shipments are "logistical" in nature, due to the "challenges" of moving so much gold. Really? Seriously??
Here's one for you...Did you know that, because of the density of gold, an entire metric ton can be poured into a cube with dimensions of just 15 inches on each side? Fifteen inches. If you laid them out in a row, end to end, five cubes (five metric tonnes) would stretch out for a total of 75 inches (also known as 6'3"). Hmmm. And the logistics of shipping more than 5 mts in a single year are challenging, huh?
How about the logistics of loading 32 of these cubes onto a truck and driving them the 500km from Paris to Frankfurt. That sounds like one hell of a challenge, too, doesn't it?
Look this is clearly all a farce, designed to patronize the German people while extending the life of The Great Ponzi. Perhaps the Germans are waking up to this as there's now a movement afoot to get ALL of the German gold back and pronto: http://www.gata.org/node/13541. We'll see about that. In the meantime, it should be great theater to watch the bankers preen and posture while they try to assuage their citizens' fears.
To that end, I thought I'd include here this latest video from Dan Ameduri. In this piece, Dan interviews Brien Lundin who, among other things, is the founder of the New Orleans Investment Conference. The NOIC is usually the biggest "natural resource" conference of the year so Brien clearly knows a little bit about the metals. You should watch the entire thing but you may find most interesting some of the stuff that is mentioned regarding the German Gold Scheme.
To be continued...