German Gold Hijinx

Wed, Jan 16, 2013 - 11:54am

I guess it all depends on how you look at it. Either this is all on the up-and-up or it isn't. Either this is a purely political show or it isn't. Either the gold is really there to be repatriated or it isn't. It's up to you to decide.

Just three months ago, The Bundesbank labeled as "lunacy" the idea that German gold needed to be brought home. They announce today that they're doing it anyway, but in sizes nowhere near what had been speculated. Is this just a political trick to mollify the German hoi polloi? Probably. It certainly doesn't upset the status quo or shake the global banking system in the manner we'd all hoped.

However, you could also choose to look at it this way:

  • In preparation for The Great Reset, the Germans do desire to repatriate as much gold as possible but they also don't wish to bring about The Reset any quicker than necessary.
  • So, they bring home "their French gold" but only do so at the rate of 50 tonnnes/year. Why? If it's just sitting in a vault and collecting dust, why not ship it all home over the next few weeks? What's the big deal?
  • And why leave "their English gold" untouched? Is it because all gold stored at the BoE can be leased, hypothecated and rehypothecated many times over, thereby making reclaiming it impossible?
  • And why bring back just 300 tonnes of "their American gold", again over the next 8 years? It shouldn't be that big of a deal to pull up a few pallets of "barbarous relic" from below the streets of lower Manhattan, drive it over to JFK and load it onto an airplane bound for Frankfurt. Should it?

Hmmmm. Maybe, just maybe, their French gold is long gone and the Frenchy-French need some time to come up with new supply to pay them back? ( Maybe the English gold has all been shipped to China and other points East, where it has been resmelted into kilo bars with official Chinese insignia? ( And maybe, just maybe, the American gold is nothing but paper certificates and IOUs, no more valuable than claims on the GLD? (

Ahhhhhh....what do I know? I'm just a Turd. A dope with a MacBook. I'm sure it's all just fine. Move along. Nothing to see here. All is well. Go back to sleep.

Anyway, it has been a few days so we need to update the charts. Let's start with gold. Take a look at these two, daily charts. You can clearly see the price double bottom. This also coincides with an open interest bottom in late December. In the big picture, me likes what me sees.

Now check out this 8-hour chart. Besides all of the horizontal and diagonal resistance lines I've drawn, gold will likley run into some tough sledding near the 50 and 100-day MAs. The fifty for the Feb13 contract is currently near $1697 and the 100 is near $1718. Taking it all into consideration, the "all clear" for a rally can't truly be sounded until gold gets up and through about $1710-1715, maybe in a week or two. Until then, I just plan to keep stacking physical. I'm not going to buy any more options just yet.

As you might expect, silver has a somewhat similar picture. It came down in late December and then double-bottomed just below $30 about two weeks ago. Since then, it has seen a steady progression higher. Now it just needs to follow through. It is finding resistance near the highs of 1/2/13 (31.50) and it needs to break that level to draw in more buyers. Once through there, expect slowdowns near the 50-day, currently at $32.01, and the 100-day near $32.60.

That's all for today. I need to go take a little boat ride with all my guns and ammunition. It'll probably take most of the day. More tomorrow...


About the Author

turd [at] tfmetalsreport [dot] com ()


old tradesman
Jan 16, 2013 - 8:03pm
Jan 16, 2013 - 8:04pm


I guess that this is an obvious case of, "If guns caused the Sandy Hook shooting, then Aaron Swartz's death was caused by...."

RedMeansGo Quisp
Jan 16, 2013 - 8:06pm


After William Casey’s first staff meeting as head of the CIA in 1981, he was quoted as saying,

“We’ll know our disinformation program is complete when everything the American public believes is false.”

Mr. Fix Quisp
Jan 16, 2013 - 8:07pm

Reply to Quisp:

“We’ll know our disinformation program is complete when everything the American public believes is false.”
– William Casey, CIA Director (from first staff meeting, 1981)

Jan 16, 2013 - 8:13pm

"The fundamentals haven't changed"

Nigel Farage: Democracy and Self-Government now Staging a Fightback
Fred Hayek
Jan 16, 2013 - 8:14pm

@ Ancient money -- good point regarding other nations

The Netherlands is obviously a good candidate to demand repatriation of its gold. It's a fiscally responsible nation and they have significant holdings, 612 tons. But only a small dutch political party has expressed interest in repatriation of their gold.

Another very worrisome prospect for the B of E and the Fed is a nation whose gold holdings are huge and yet are seldom mentioned . . Italy.

Italy has official gold reserves of 2,452 tons. Now, a person might quickly respond, "So what? Italy's a hopelessly poorly run country in a fiscal sense. They're not about to get hard money religion!" And that would be true.

But, put yourself in Italy's shoes (or perhaps boots considering the shape of the country). You're in bad shape. You've seen the ECB tell the Greeks that they have to give up their gold reserves as part of dickering about the money the ECB gives them. So, you're Italy. You're in bad shape. Do you want the ECB to be strongarming you into giving up your massive gold holdings? No, of course not. So, what do you do?

Maybe you demand your gold back now, before your fiscal situation deteriorates further and you're then stuck in a terrible bargaining position.

I can't easily find on-line just where Italy's gold reserves are held. I hope, for their sake, those goofy bastards, that they hold it all in Rome. If any of it is overseas, why shouldn't they demand it back now?

Ferd Torgerson
Jan 16, 2013 - 8:23pm

Yes, Bollocks

Deathly quiet at my end. I'm wondering if your last post directed to me means that an exchange that I had thought was all in fun somehow turned personal all of a sudden.

In the more than 18 months I've posted here, I can think of no more than four or five people I've deliberately put down - usually trolls and always for good reason. Nothing you've ever said up to now would have warranted such treatment on my part. Therefore, I must apologize for whatever I might have posted that you construed as being insulting or over the top.


Jan 16, 2013 - 8:24pm

RE Aaron Swartz - anyone know about Gary Mckinnon?

"Gary was indicted by a US court in November 2002, accused of 'hacking' into over 90 US Military computer systems from (...) the UK." (taken from his blog)

He spent 9 years in hell, coming close to committing suicide from the pressure he was under from the US prosecutors (as with Aaron) - with a threat of spending 60 years in a US jail for what he had done. He appeared on many occasions on the UK MSM as the case progressed. Towards the end of 2012 the UK gov't decided not to extradite him.

I won't go into what I've found was behind the decision now (maybe later if there's enough interest to this post) but I only recently found out what he had discovered, and why he was being hounded (Assange-style) when I saw a BBC interview with him recorded in 2006, that didn't get much airtime - well, I personally don't remember this appearing.

Very poor quality, but listen to what is said from what appears to be a highly credible man. The interviewer tries to subtly laugh off his claims initially, but by the end his opinion seems to have changed.

Anyone who has seen the first part of the THRIVE documentary will find this very interesting, as I did.

16mins. It's worth the time.

Jan 16, 2013 - 8:27pm


NO. Jeez. All fun.

Jeez, just joking.

Jan 16, 2013 - 8:27pm

Casey's Quote

"We'll know our disinformation program is complete when everything the US public believes is false." William J. Casey, CIA Director, 1981-87

"I met Bill Casey a year before he died. It was at a private luncheon. I thought he had late phase dementia. He was incapable of having a coherent conversation. Barely capable of feeding himself. When I read Woodward's book, I knew he was a liar. —Preceding unsigned comment added by (talk) 14:37, 22 April 2008"

"I've seen this quote all over the place. Can anyone find its source? That is a pretty damning statement if he really made it."

"A forum post [1] . . . cites the supposed source as "Mae Brussels" ... an old (Kennedy era) journalist who got in to "conspiracy" starting with JFK and ended up with her own TV show(?). Judging by her writing on the Kennedy assasination [2], I would personally assume the quote was legit, assuming one can prove she is the one that "sourced" it. — Preceding unsigned comment added by (talk) 19:18, 24 October 2012 (UTC)"

Casey had a brain tumor removed in 1987, just before he died.

Jan 16, 2013 - 8:27pm

@ Tom



Jan 16, 2013 - 8:28pm

Get Ready for Aurumageddon

The key word here is "procure." Merriam-Webster defines "procure" as: 1 a : to get possession of : obtain by particular care and effort Therefore "procure" necessarily implies that one does not HAVE possession if one must GET possession of a commodity. Let's face it, the Gold is Gone. The Fed is dragging its feet because they only have enough real Gold on hand to plate a few pallets of Tungsten ingots for a Congressional audit.

They hoped that everyone would be satisfied to trade paper for the rest of time. Gold is going to explode.

This is the beginning of Aurumageddon! (my copyright)

Jan 16, 2013 - 8:29pm

Thanks guys

Thank you RedMeansGo, Mr. Fix and Fleet Feet for finding the quote!

Ferd Torgerson Bollocks
Jan 16, 2013 - 8:35pm


May have been funny to you but it wasn't to me.

I'd never be caught dead carrying a Hello Kitty purse.


Mr. Fix
Jan 16, 2013 - 8:35pm

@ Fred Hayek

I could be completely wrong, as I do not have a source either, but I do know I have heard Jim Willie say on more than one occasion that the Pope is sitting on several hundred tones of gold.

Therefore it might be a relatively safe assumption that the Vatican is holding Italy's gold,

but that might be like trying to prove the existence of God himself.


In my own personal opinion, Vatican gold, and Italy's gold, are probably all the same.

I know that the Vatican has been accumulating gold for thousands of years, they've been turning all of those Sunday offerings into gold for at least that long.

What has the Italian government ever done to accumulate its own gold?


There just aren't that many strong exporting businesses in Italy, certainly not like Germany.

The Pope on the other hand, is in the business of extorting massive amounts of wealth from the citizens of the earth for a free pass into heaven.

That is a lot of gold.

abguy4 Quisp
Jan 16, 2013 - 8:44pm

@ Quisp

"We will know we have succeeded when everything the American public believes, is a lie"

That quote is attributed to William Colby, Director of CIA (1973 - 760, under both Nixon and Ford.


Jan 16, 2013 - 9:02pm

EURO crisis is SELF-inflicted

I find it funny that Sinclair blamed Euro struggle on USGovt manipulation. Well I do believe USGovt dislikes Euro challenging US$ status and will therefore attack Euros but it's not USA sending them into PIIGS mess. They did it to themselves b/c of the inherent problems that EURO, as simply another paper currency, inevitably carries upon itself.

US did not force them to lend money to PIIGS that cannot pay it back. They did it themselves. US did not run up their huge unsustainable welfare system. They did it themselves. US did not establish an anti-business socialistic system in Europe. They did it themselves. They clearly built a system to self-destruct, and uncle Sam is merely lending a hand if they feel like crashing harder.

Euro crisis is no different from Dollar crisis or any other paper currency crisis. Once you let politicians control the paper you will have a crash b/c politicians spend the money politically not economically. They spend it for political gain rather than economic growth. They send money where it should not be to create imbalances and bubbles that develop into crisis.

So it ultimately brings Santa's (as well as these FGers') call of Euro being the next reserved currency into question. How do you solve one paper (Dollar) crisis with another paper (Euro) that carries the same disease? NO CAN DO. Sorry, Santa. We love you but this idea does not fly.

Jan 16, 2013 - 9:04pm

@Urban Roman

"are you ...."

Yes. That's the point isn't it. Spot on.

Jan 16, 2013 - 9:05pm

Wall of worry

Trader Dan is an excellent example.

However from a stats perspective: Getting 12 heads makes no difference to the 13th throw. They are independent events. The coin cannot 'remember ' that it just did 12 heads.

One could argue that it was statistically improbable that the money supply would increase for 12 straight years and that therefore it will contract next year. My money stays with the fact that QE is here until the system breaks.

Yes, we may get the big correction he talks of - but you want me to sell my Phyz when even Germany cannot get his (fatherland). Nope - keeping all of mine.

I will call this wall of worry very bullish.

Great humour on here today gang. Very tactful on the over reach Ferd. There is a lesson in there for me. Thanks.


meddle magic
Jan 16, 2013 - 9:07pm

Bollocks thanks

Very interesting !

Green Lantern
Jan 16, 2013 - 9:10pm

Barter and Alternative Currencies Growing in Greece

Something interesting is happening in Greece, according to the folks at the Daily Bell, and it was entirely predictable. It seems that the Greeks in their desperation have, at the local level, abandoned the euro as the medium of exchange for barter, and, more importantly, alternative currencies. Indeed, I have blogged on this site previously about alternative currencies as a mechanism for avoiding the central bank private money monopolies. But there is a catch in the case of the Greeks, and The Daily Bell points it out:

Barter and Alternative Currencies Growing in Greece

The Bell is correct here. There has been some discussion in various places about the use of alternative virtual currencies, i.e., currencies that exist largely in the electronic world of computer networks. We use them, in a certain sense, all the time with debit cards, credit cards, and so on. The catch is, of course, that such things are traceable, and ultimately, as the Bell points out, they are quietly pushed by the powers that be for precisely this reason.

The Bell is also correct in that the powers that be have always pushed a version of economic history that goes something like this: first there was barter, then there were coins, and finally, paper money and electronic money. The subtext here being that barter is for primitives, or for desperate people. The reality is that barter more often than not emerges in sophisticated societies where for whatever reason confidence in media of exchange has broken down. Usually, though not always, this system emerges at a local or regional level.

Where we might part company.

Where we might part company, however, is with the idea that bullion or coinage represents the universal solution. To be sure, these emerge in cases where confidence has broken down, but again, a moment’s consideration will reveal why, in a modern world, with transaction occurring over vast distances, the physical exchange of bullion as a medium is again restricted to a local or regional level. To be sure, it isn’t nearly as convenient to track… and that poses a problem for the powers that be.

But there is another problem, as the readers of this website well know, and that is, before we entertain philosophical discussions about the wonders of bullion-based money, we would do well to recall how that system led to the creation of those very same “powers that be,” and more importantly in the modern context, just how much bullion actually exists.

Virtual barter, anyone?

See you on the flip side.

- Giza Death Star Community..

Excerpt from the Daily Bell...

Barter and Alternative Currencies Growing in Greece By Staff Report 39

Euros discarded as impoverished Greeks resort to bartering ... Communities set up local currencies and exchange networks in attempt to beat the economic crisis ... It's been a busy day at the market in downtown Volos. Angeliki Ioanitou has sold a decent quantity of olive oil and soap, while her friend Maria has done good business with her fresh pies. But not a single euro has changed hands – none of the customers on this drizzly Saturday morning has bothered carrying money at all. For many, browsing through the racks of second-hand clothes, electrical appliances and homemade jams, the need to survive means money has been usurped. "It's all about exchange and solidarity, helping one another out in these very hard times," enthused Ioanitou, her hair tucked under a floppy felt cap. "You could say a lot of us have dreams of a utopia without the euro." – UK Telegraph

Dominant Social Theme: Desperate measures for desperate Greeks?

Free-Market Analysis: This article posted by the UK Telegraph deals with the emergence of alternative money in a stressed Greek society. What's an alternative dominant social theme? That people will take action, however ineffective, when they have no other options. A subdominant social theme might be "no gold or silver needed."

That's right, the article manages the feat of portraying a society turning to alternative money without ever dwelling on gold or silver ... especially silver. What the article DOES clumsily portray is the emergence of various kinds of alternative monies in lieu of the euro itself.

The feedbacks are at least twice as sophisticated as the article and point out that the reporting is as much about an alternative currency as it is about bartering. Here's some more from the article:

In this bustling port city at the foot of Mount Pelion, in the heart of Greece's most fertile plain, locals have come up with a novel way of dealing with austerity – adopting their own alternative currency, known as the Tem. As the country struggles with its worst crisis in modern times, with Greeks losing up to 40% of their disposable income as a result of policies imposed in exchange for international aid, the system has been a huge success. Organisers say some 1,300 people have signed up to the informal bartering network.

For users such as Ioanitou, the currency – a form of community banking monitored exclusively online – is not only an effective antidote to wage cuts and soaring taxes but the "best kind of shopping therapy". "One Tem is the equivalent of one euro. My oil and soap came to 70 Tem and with that I bought oranges, pies, napkins, cleaning products and Christmas decorations," said the mother-of-five. "I've got 30 Tem left over. For women, who are worst affected by unemployment, and don't have kafeneia [coffeehouses] to go to like men, it's like belonging to a hugely supportive association."

Greece's deepening economic crisis has brought new users. With ever more families plunging into poverty and despair, shops, cafes, factories and businesses have also resorted to the system under which goods and services – everything from yoga sessions to healthcare, babysitting to computer support – are traded in lieu of credits.

"For many it plays a double role of supplementing lost income and creating a protective web at this particularly difficult moment in their lives," says Yiannis Grigoriou, a UK-educated sociologist among the network's founders. "The older generation in this country can still remember when bartering was commonplace. In villages you'd exchange milk and goat's cheese for meat and flour."

Other grassroots initiatives have appeared across Greece. Increasingly bereft of social support, or a welfare state able to meet the needs of a growing number of destitute and hungry, locals have set up similar trading networks in the suburbs of Athens, the island of Corfu, the town of Patras and northern Katerini.

Jan 16, 2013 - 9:12pm


"I'd never be caught dead carrying a Hello Kitty purse."

I now see your point. I do apologise.

Yes, that would be horrific, nobody could, or should be expected to, handle that.

Mind you, if you DARE to question the MIGHT of the Bollocks Foundation again...

I do hope your sense of humour is still perfectly intact.

I hate saying "joke" and explaining. Pointing out the way we've all been programmed to accept the norm, what's "acceptable" and not question what's outside that.

Mr. Fix
Jan 16, 2013 - 9:27pm

Bollocks! I watched the Gary Mckinnon flick...

Suppressed energy technology has been a long time interest of mine.

I wish he had gone into a little bit more detail of the kinds of things that he found.

I have done a considerable amount of experimentation on my own, and I know there are many things possible

that literally defies what is written in current physics books.

Have you in your searches, come up with anything that is actually buildable by someone with a considerable amount of ingenuity?

I have spent years scanning YouTube, and Google, but anything that is actually worthwhile tends to disappear within hours or days.

Sounds like Gary was going after the good stuff.

Is there anything else available on him that reveals what he found pertaining to “free energy”?


I did watch THRIVE.

Jan 16, 2013 - 9:38pm

Took Monedas off Ignore some time back.

Show up here and see his post, with 1 hat tip .... already. LOL

Monedas, I know the ilk you come from and I know why you are here.

To others, excellent conversation! Thank you.

Jan 16, 2013 - 9:38pm

Harvey's Up!

It looks like the little boy in the dike may be out of fingers, because it seems as if Holland is asking for its gold back. Mexico Mike: The slow repatriation of German gold shows Deutchebank knows the metal is gone. The Chinese want the slow repatriation so there will hopefully not be a stampede in gold prices and they can unload some more fiat. James Turk: The price recovery of gold and silver after a huge banker raid is as stunning as Bundesbank asking for their gold back. "There is a real limit as to how far the price of gold and silver can be driven by these deliberate paper market interventions," Turk says. "Given how quickly the precious metals have bounced, it seems to me that this limit was reached for gold and silver at $1,625 and $29.25 respectively. All this and more on...

The Harvey Report!


Mr. Fix
Jan 16, 2013 - 9:39pm
Jan 16, 2013 - 9:49pm

Wha-what? This isn't a big deal??

What? Turd again got fooled by the media and/or politicians? Quel surprise. He's still looking for a savior somewhere that will make all well. Cute. But naive. And he's dragging the lot of you down with him, which makes him not only cute & naive, but irresponsible.

Here's my post on the original German gold thread telling you what's about to happen. Have fun:

Jan 16, 2013 - 9:50pm

@Mr Fix

"Have you in your searches, come up with anything that is actually buildable by someone with a considerable amount of ingenuity?"

I've not seen anything, no.

"Is there anything else available on him that reveals what he found pertaining to “free energy”?

Nothing that he's revealed, but he may have made a deal not to be 'disappeared' if he doesn't reveal all of what he did find.

Also perhaps he has made a deal to reveal, through other sources, what he did find if he does "disappear".

Here's an interview with him in the garden of a pub in the UK. His answer towards the end regarding this point seems to me to be very truthful.

A long (50 mins), and again, poor quality video, but if you watch this, I found myself asking - is this someone reading from a script or speaking from their own experience? He seems very credible to me.

Obama wanted him extradited. There are youtube clips of a discussion between Obama and Cameron (the UK PM) about his extradition to face charges for what he did. Perhaps also for what he knows.

Perhaps this is similar to what has been going on regarding Assange too? Not in terms of what they've found collectively, I think it's highly unlikely they know each other, but for what they may reveal from what they've found.

Jan 16, 2013 - 9:52pm

Germany will get it's gold from England ....

.... when England gives the Falklands to Kirchner ! BTW .... I am not a racist .... I think Piers Morgan is a bigger "Nigger" than Obama ! Monedas 1929 Comedy Jihad Equal Opportunity Local Colour Purveyor World Tour PS: Obama has more white DNA than black .... it's a fact .... he's one of ours .... his skanky mother was lily white .... and Frank Marshall Davis .... his father .... definitely had white blood .... he was clean and articulate .... and had FRECKLES .... well, age spots .... as he did the "mulatto thing" .... he lost significant hair and skin pigment as he got older !

Mr. Fix
Jan 16, 2013 - 9:55pm

@ Bollocks

Thanks, I will be watching it now, see you all later,

I probably won't be missing much in the gold and silver markets in the next hour anyway.

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