More on the German Gold Repatriation Scheme

Tue, Jan 21, 2014 - 3:30pm

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: 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...


About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 21, 2014 - 3:38pm

fed gold

what about the other 6700 tones held by fed for others plus the 8100 tons of the US gold

Jan 21, 2014 - 3:39pm



Germany will never get all their gold.

Jan 21, 2014 - 3:43pm

gone forth

that gold was stolen fair and square. it's gone


Jan 21, 2014 - 3:43pm

Just To Pick a Nit...

...I think that would have to be two trucks from Paris to Frankfurt, which would double the already insurmountable logistical challenges.

Jan 21, 2014 - 3:45pm

Why not just ask

Why not just ask the Germans if the bars are the same as what was shipped to New York and why the Americans are not sending the same back.

The Germans have a right to know if their gold was stolen.

By the way, does anybody know if the Germans were charged storage fees?

Urban Roman
Jan 21, 2014 - 3:46pm

I'd think they could scrounge

I'd think they could scrounge it somewhere.

Where does all the gold come from that China keeps importing? Germany's request is less than that, isn't it?

Jan 21, 2014 - 3:47pm
Jan 21, 2014 - 3:49pm

Why not just skyrocket the price

Why not skyrocket the price to some ridiculous amount say 25000

an ounce every one holding would sell ,tax the shit out of them give Germany there gold back.

Jan 21, 2014 - 3:55pm

Tungsten repatriation scheme?

So Germany agreed with the NY FED to take back 50 mt gold per year for 7 years from the NY FED vault, but only got 5 mt for 2013.....Methinks they probably were delivered their 50 mt of bars and then had them melted down (reprocessed as they say).....Result was 5 mt gold and 45 mt tungsten bars....LOL

Jan 21, 2014 - 4:08pm

Bottom line of Deutsche

Bottom line of Deutsche Bundesbank gold: The fingerprints are gone

jungle drum, Published on Jan 21, 2014

Independent German financial journalist Lars Schall talked with Bill Holter, who works for Miles Franklin, a precious metals investment firm in the United States, about the main driver of the price of gold; the current problems of the Bundesbank with “its” gold; and China’s heavy buying of physical gold.

Jan 21, 2014 - 4:12pm

German gold

I don't think any was ever shipped to New York, at least Buba has never confirmed this. The gold was deposited from an ancient time (1950-1970) when sovereign balance of payments were settled in gold, and gold was used internationally as money. If Buba has any bar number lists you can bet they were informed of the numbers by Fed mail and not by vault inspection.

Now it has even been suggested that these ancient deposits might not have consisted entirely of element 79 but may also have included gold certificates.

One thing for sure, this is the gift that keeps giving. The repatriation attempt correlates with last year's gold smash. It also shows everyone that with respect to gold things are not as they seem, or as we've been told, and makes clear that we're not in Kansas anymore (well except for TF). The man behind the curtain has been exposed by this historical repatriation of oz.

EDIT: Sovereign gold stored at the Fed to be used for balance of payments should not have incurred storage fees. When it was no longer needed for this purpose the Fed would likely not charge fees in case the owner asked for it back.

Jan 21, 2014 - 5:19pm

Save some powder for $15,

Save some powder for $15, just incase.

However, you are a fool if you haven't put a decent amount in sub $20.

Motley Fool
Jan 21, 2014 - 5:21pm

some contrast


oh, and for lulz....

Oh, and before you decry me as some sort of central bank apologist. Most here know I am very much pro physical gold in your own possession. That said, I am against unthinking bullshit to sway sentiment, whether it be in popular media, or goldbug circles.

Jan 21, 2014 - 5:31pm

COMEX physical inventory worth less than $2 billion USD

Silver 1-year candles

We must consider a possibility of a further drop. However, it will be very short lived and premiums will be much higher.

Now is definitely a safe spot to buy for the long term, especially if you can get physical for a $20 FRN.

Once the price in which the world trades physical by is no longer derived from the COMEX, the true silver bull will begin.

But who knows when that will be... hopefully in our life time.

, you will know when the true silver bull begins.

Motley Fool
Jan 21, 2014 - 6:01pm

Motley, can you be more specific

Does this post or this site constitute "unthinking bullshit"?

Just wondering.

SamSchlepps Motley Fool
Jan 21, 2014 - 6:23pm

Further bafin transalation

Just cherry picking, but as Bron did, Wasn't there for the actual verbal speech and my German doesn't exist, so I used the Bing translator just to be different

Bafin website - location of speech by Dr. Elke König

excerpts as translated - my bold

The manipulation allegations have brought an industry discredit, whose standing was already damaged, which but rely on is like no other that you trust her. Comprehensive regulation and effective control will help to rebuild this trust. But with mere rule and abiding by the law - you can use also the buzz word "Compliance" - it is not done. Not everything that is legal is also legitimate. I don't believe in a nationwide moral depravity, but we need a return to certain ethical values that are apparently come in parts of the financial sector in the boom times out of fashion. The respectable merchant can offer orientation, which is not only the responsibility the company, but also the society. Its image may be dusted on something, but as a model, he is always better than Gordon Gekko. Management and Supervisory Board are obliged. Instead of the slogan "Profit at any price", long-term thinking and responsibility must be the guiding principle. A change in this direction can be seen. ------------- Germany is not only leading, but also motor of European development in these areas. So it goes to the German account of the negotiations that there is a clear liability cascade directive for the renovation and completion: owners and creditors must first be liable for losses of their banking and provide for their recapitalisation before about the settlement fund and - in a last step - taxpayers must bear the cost.Last but not least at the instigation of Germany we are can use also already the instrument bail-in by 1 January 2015 to so with the transposition of the directive into German law.
ancientmoney Motley Fool
Jan 21, 2014 - 6:40pm

@Motley F re: unthinking BS . . .

So, the stated fact that Germany got 5 tons in year #1 (when the most gold should still be available) is pure Bullshit, too?

Bron Sucheck is not the only expert in the PM world. The fact is, he continually apologizes for every gold fraud that comes along. Why is that?

Jan 21, 2014 - 7:14pm

I'd like to hear Kyle Bass

at that conference, especially if its in the same room as Greenspan!

Jan 21, 2014 - 7:20pm

Central bankers

I think its good that Germany are being protected from the Gold Bear market we are in, they wouldn't be pleased to receive all that gold then see its value plummet. They should thank the federal reserve. Maybe they should ask if they can have US$ instead, its the world reserve currency and fully backed by the central bank.

Without central bankers imagine how much worse things would be? There might be a great depression or something instead of this wonderful recover we are all benefitting from. We are so lucky we have them to steer the economy for us. What a mess if free markets were in control you'd get all kinds of instabilities and probably loads of recessions and shit like that. With elastic money supply they can stop bubble inflating and then give credit as needed to stimulate the ecomomy

Put yourself in their shoes and give them a break

Jan 21, 2014 - 7:33pm

Now... hold on a moment here Turd...

All this speculation that Germany's gold isn't there is absurd - and your post with it's supposed conclusions, I suggest, is highly inaccurate.

Let's look at some hard facts.

There are only two ways that Germany can get it's gold delivered from the USA: By sea or by air. Yes?

Well it's not going to be delivered by ship. Too easy a target. I heard Xty has been training Somalians recently (hence her absence) and they've recently moved their operations to the Pacific. Too risky.

So, that leaves only underwater or by air.

The underwater option:

Anyone who has experience in moving gold will know that you don't use submarines. They would sink to the bottom. That's just a fact. This means that the gold would need to be transported along the sea bed.

I've done some calculations and the distance between the USA and Germany along the sea bed is approx 28,142 miles. This distance takes into account all the mountains, deep crevices, and obstacles along the way. Now, assuming a person can walk at 3 miles per hour - adjusted to 1 inch per hour when carrying 5 tons of gold - it will take approximately 171 years to transport 5 tons of gold to Germany by the sea-bed route - assuming you can hold your breath for 171 years, of course. Not a sensible route.

So, there's only one reasonable option left.


Everyone knows that an unladen European swallow needs to beat it's wings at 43 times a second just to stay airborne and can't carry a coconut. Even an African swallow would have enormous difficulty in carrying one - in fact in the 1970's there was much speculation whether even two African swallows could carry one between them.

However, it seems that some 40 years later they have evolved extraordinarily fast and in 2013 did indeed manage to carry 5 tons of gold - Germany has indeed received 5 tons of the stuff from the USA. This means that the in-flight carrying capacity of south african swallows has increased enormously since the 70's - however expecting them to deliver some 50 tons or so in a year is clearly ridiculous.

Everyone needs to pull themselves together and stop being so hysterical about Germany's gold.

These things take time, as my facts show.

Thank you. I hope I've put things straight.

Jan 21, 2014 - 7:54pm

No proof of anything, but interesting...

...that German mainstream news media should resort to "unthinking bullshit to sway sentiment", by publishing such tripe:

"Conspiracy theory: U.S. Safes empty
If it goes to some conspiracy theorists, the facts are already clear - and the recall campaign well founded: The safes in the U.S., where to store only 1,500 tons of German gold reserve, are empty. Some claim that the Americans had with the precious metal traded entrusted to them to control by about the gold price. In support of its argument the critics call that gold only slowly finds its way back to Germany. A second theory is that the Americans do not aushändigten about the gold bars obtained decades ago, but gold einschmolzen and new bars poured from it. Third, some conspiracy theories refer to the Gold Reserve Act of 1934 which allows the U.S. government, through a special fund, to manipulate gold prices ."

Original story in Focus Online here, translation here.

Jan 21, 2014 - 7:56pm


It is about time. I was beginning to worry, about as much as I am capable to worry about a Limey Brit! Welcome back!

Jan 21, 2014 - 7:57pm

Welcome back Bollocks

Thank you for bringing the bright, sharp light of science into focus on the German gold question.

I now feel very calm and serene knowing that our ventral banksters have everything under control, and are vigilantly watching out for us all. I'mmmmmm already starting to feeeeeeeellllllllll sheep-like, baaaaaaaaaaaa.

Jan 21, 2014 - 8:08pm

What's the hurry

Central Bankers still have 6 years left to return the gold, what's the hurry?

Perhaps they have physical side bets on the outcome of the world economy over the next 5 years, that would give them an entire year to settle up with Germany.

Oh, wait... never mind, I forgot about the logistics.

Jan 21, 2014 - 8:12pm

Contrast with Bron Suchecki

You got to be joking Motley. If bullsh-t was music that guy could be the whole brass band!

Gold Dog
Jan 21, 2014 - 8:25pm


- Bullox is back!

-I bought gold and the futures are up a dime!




eone type twice?Why did everyon <-EVIL in the black box. <Scotch is my new BFF.

Patriot Family
Jan 21, 2014 - 8:39pm

I've read every source I can

I've read every source I can find on repatriation of Germany's gold. All Germany needs to do is publish the official agreement on the gold transfer and the details on how the bars were ordered to be melted down and refined into modern good delivery bars. At that point, the gold bugs and conspiracy theorists will settle down.

The US already publishes all forms of agreements and budgets. For goodness sake, we even publish our black ops budget. I don't see why Germany cannot explain to their own public why their gold is not being returned on schedule. Has anyone seen a copy of the agreement posted anywhere outside of the original annual delivery schedule?

I believe some of Germany's politicians are getting a little riled up about this. If they make enough noise, some news will come out. Whatever applies to Germany's gold will apply to the rest of the world as well. All that's needed is a major news organization to report on how France ponied up and delivered to goal and whatever gold the US pushed back to Germany would've fit in the trunk of my Nissan. This is the perfect opportunity for some enterprising organization to create a panic induced price increase by forcing the issue into the major media.

Jan 21, 2014 - 8:42pm
Jan 21, 2014 - 8:43pm

NY FED to Germany

Leck mich am Arsch (kiss my you-know-what)

Patriot Family
Jan 21, 2014 - 8:45pm

Also, remember that Freedom

Also, remember that Freedom of Information Act requests can be submitted. I'm not sure of the boundaries (i.e., how soon are docs available), but I would LOVE to see any documents (especially emails and meeting minutes) related to gold transfer agreements between us and Germany. Now I'm going to need to go figure out how to submit a request and the cost involved. Would be very cool to see exchanges on the topic between our government liaisons and Germany.


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