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 22, 2014 - 8:54am

When somebody has my property…

…and won't return it when I ask nicely, then I go over to their place and get it myself and never loan them anything else ever again.

So why doesn't Germany just come and get their gold? That would clear up the whole issue of whether or not moving it is a "logistical problem".

If I was Germany I'd be making my own arrangements for getting it.

That is, unless it's not even there and all this posturing is just an elaborate nudge-nudge, wink-wink.

Jan 22, 2014 - 8:55am

Whatever, Smiley.

Whatever, Smiley.

Opinions are opinions are you are certainly entitled to yours.

Jan 22, 2014 - 8:55am


Duped again.

Jan 22, 2014 - 8:55am

Hi Bollocks

Good to see you back. I like to think my comment preceding your arrival warmed up the crowd for you :)

I'll try not to argue about bitcoins


Sir Peter Latterman Fortenton
Jan 22, 2014 - 9:10am

I think a knowledge of

I think a knowledge of history helps put things into perspective here, having read about some of mankind's previous atrocities against his fellow man, knowing what insane acts people are capable of, is it too far fetched that a group of selfish bankers would sell metal in their possession (belonging to someone else) for their own gain / to prop up their country?

No, no it's not.

In fact knowing what people in power are capable of, it's almost expected human behaviour.

Jan 22, 2014 - 9:24am

Why should Germany get the Gold immediatly and at once?

IMHO, the fact that Germany's Gold is not returned until 2020 does not mean that the Gold is not there. They hadn't had their hands on the Gold for far more than 7 years. If it takes another 7 years until they possess it on their land makes not that much of a difference.

If Germany is OK with the pace (and it seems they are) why should I, or anybody else, be upset?

Of course, if Germany actually wanted their Gold immediatly and at once, and they were told that this is not possible, then there would be reason to doubt the official story.

Jan 22, 2014 - 9:32am
Jan 22, 2014 - 9:42am

What happened to Germany's French-held gold?

We know the U.S. took a year to send 5 tons of gold to Germany out of some 350 tons they were supposed to receive.

Chris Powell at GATA has another good observation:

The Bundesbank said last year they were going to repatriate 374 tons of gold held for them by Banque de France. Yet, over the year since, Germany received only 32 tons.

Germany should have got in line ahead of Venezuela.

It would appear that the Bundesbank did not get the memo.

ancientmoney Turicum
Jan 22, 2014 - 9:48am

@Turicum re: Germany OK with the pace . . .

Do you think that these Central Banks would admit that it is not possible to send German gold to Germany?

They initially wanted a mcuh larger amount of their gold back, but were negotiated down to get a small part of their gold repatriated, yet, they got only a tiny fraction of what they were negotiated down to!

Does this not indicate that something just might be amiss?

Jan 22, 2014 - 9:59am

Does this not indicate that something is amiss?

Ancientmoney, maybe I missed that point, but as far as I can remember when zerohedge broke the news it was clear from the beginning that the gold is returned during 7 years. I am unaware that Germany "negotiated down to get a small part of ther gold repatriated". If this is indeed the case, I'd be glad to be pointed to a link/hint or so. I could imagine that there is something amiss, but in all fairness, I try to act "in dubio pro reo".

Jan 22, 2014 - 10:23am

P.M. MARKET - miners

The P.M.'s market, right now, gives me the same feeling like when I'm sitting in the dentist's chair and waiting for the needle.

Jan 22, 2014 - 11:44am

Middle East from an Arab's viewpoint

If you dare, take 10 minutes to see the Middle East from an Arab's viewpoint, instead of CNN or FOX, just one time. Whadda ya got to lose?

WWIII by Sheikh Imran Hosein

Jan 22, 2014 - 11:45am
Jan 22, 2014 - 11:57am


"Chris Powell from the Gold Anti-Trust Action Committee (GATA) reveals that he's been meeting with several central banks, discussing GATA's documentation on gold manipulation. A must-watch for serious investors!"

I suspect that delivering evidence of the crime to the criminals isn't going to yield any results, though .

edit: hi mantis. no, don't mention bitcoin.

Jan 22, 2014 - 11:58am

GATA? Chris Powell? What does he know?

"GATA ... hell some days I wonder if they now their ass from a hole in the ground as regards the gold market."

-Smiley Fool

Jan 22, 2014 - 12:11pm

I say

the ban hammer needs to be swung a few times ... specifically at MF and that other progressive troll. That's one thing I like about Denninger's blog... he doesn't tolerate people posting bullshit (esp. repeatedly) like MF does here . He's only here to peddle his idiotic, debunked central banking scheme and to disrupt the comments.

That's just my take... I have him on ignore but far too many other comments end up being in response to his gibberish.

Jan 22, 2014 - 12:11pm
Jan 22, 2014 - 12:16pm

MINERS/ HUI/ Jnug & Nugt

We all knew it was coming

Jan 22, 2014 - 12:23pm

Here's a freebie

This is from the "miners" thread posted back in Monday. Let the HUI pull back some more. When it gets back to 210, then get interested again. When EXK, for example, is back down by it's 200-day near $4.10, give it a look. For now, just let this little pullback run its course.

And I should add...

Submitted by Turd Ferguson on January 20, 2014 - 11:10am.

DO NOT BE SURPRISED by a pullback in the HUI and all of these stocks on Tuesday and/or Wednesday.

The HUI shot through its 50-day back on Friday and will likely test it as support early this week. The same goes for the individual miners which just broke through their 200-days on Friday. Watch for a pullback and see if the MA, which was resistance, can now hold as support.

Your best short-term buying opportunity may come as these pullbacks happen. Keep your eyes peeled!

Jan 22, 2014 - 12:28pm

For all the 'critical thinking' skeptics re: DE gold

You may want to do a simple news search on Google or other engine of your choice.

In 2012, the German Federal Court of Auditors issued a ruling compelling the Bundesbank to audit its gold reserves.

This was followed by a flutter of CB-diplomacy between Frankfurt and Washington/NY. There was a nice photo op in which the German bankers expressed their utmost confidence in their American colleagues.

"We do not have the slightest doubt that our holdings in New York and Paris are also made up of the purest fine gold. We have at our disposal fully documented lists of the bars, and our partner central banks send us every year confirmation not only of the bars’ existence but also of their quality.

We had nothing but the best of experiences with our partners in New York, London and Paris. There was never any doubt about the security of Germany’s gold. In future, we wish to continue to keep gold at international gold trading centres so that, when push comes to shove, we can have it available as a reserve asset as soon as possible. Gold stored in your home safe is not immediately available as collateral in case you need foreign currency."

But it turned out, they WEREN'T able to negotiate an audit, no matter how confident and trusting the relationship was.

Initially, the plan had been to bring back 50 tons per year.

Then the gold repatriation plan was leaked/released early in mid-January without details, prompting both FRB and BuBa reps to scramble, until the 'final' scheduled plan was released, with amounts/percentages tonnage.

No, there is no publicly available, incontrovertible proof that the whole thing stinks.

Jan 22, 2014 - 12:48pm

gold could fall to $800 if

Treasuries hit 4%

LOL what a MOPE headline that's been top spot all day!

What he fails to point out is;

If treasuries hit 4% then the whole system will break down as so many countries, including the BRICS wont be able to fund their debt liabilities, plus

Duh, the Erb's model used seems to take no account of the fact that whist PMs price has gone down, PM demand has gone up far more / stocks held drained more proportionally = you can't base a model on unlimited supply when that's not the true case!

Duh interest rates payable are based on the likely hood of the borrower being able to repay their debt. If interest rates are going up = the creditability of the borrower is declining = the $ declines = as PMs are priced in $s' then in order to continue PMs' price decline there must be an increase in supply, which is the polar opposite of what is happening at the moment (ie sales of physical is increasing)

Duh so if treasuries hit 4% and no country can pay their debt interest, including the USA, then the whole system will need to be reset to real values, in which case an old $ value is irrelevant, or more money fiat printed, in which case an $800 gold price is more likely to be reset at $8000 IMO

murphy Mantis
Jan 22, 2014 - 1:32pm
Dagney Taggart
Jan 22, 2014 - 1:49pm


I always wanted to say that.

Now what to do with all this gold and silver?

Dagney Taggart
Jan 22, 2014 - 1:53pm


Nice ball-slap.

Oops. That assumes something we have no incontrovertible proof of.

Have a good rest of the day, all.

Motley Fool
Jan 22, 2014 - 2:00pm


Yup, that is one of the more interesting and worrisome things.


Follow that comment stream if you like.

Jan 22, 2014 - 2:02pm

Hey Bollocks

I'll mention Bitcoin. Here is how you mine them:

Regarding the German Gold. It is so freaking obvious that the gold is gone. I remember the day the deal was announced way back when and Turd posed the question: Why would they take 7 years? I was one of the first ones to post that day and I seem to remember saying something like I thought Turd's question must be rhetorical because it was pretty obvious way back then that the gold was not there. If anyone cares to find that, I think my summary is accurate. Now here we are, and the only thing that has changed is that it has become more obvious the gold is not there. Anyone who can defend such an obvious sham is intellectually dishonest.

Hey Turd, why didn't you take 7 years to mail me my 20 Turd coins? Is it because...oh i don't had them in stock and dragging it out for 7 years would have been a royal pain in your ass?

JY's post sums it up perfectly. The story keeps changing. Since the truth won't change, they...must...keep...changing... the storyline.

Jan 22, 2014 - 2:17pm

The Money Bubble, Gold, Silver, & Bitcoin with John Rubino

The Money Bubble, Gold, Silver, & Bitcoin with John Rubino
Jan 22, 2014 - 2:34pm

Hello everyone

My first post just to see if this is working. Can someone tell me why I can't post in the forums?

Silverivalist ag1969
Jan 22, 2014 - 2:49pm

@ AG1969 (ADMIN please look)

"Just wanted to let everyone here know

That I have had to block the user "Why do I Even Bother" from my PM inbox."

I made a few comments about one of his posts and he has been PM'ing me also.

Here's the post that started it...

First PM seemed like he wanted to talk about my topic, when I PM'ed him back with my point/questions he sent me an irrelevant form letter regarding his investment back ground and how over qualified he is to be an investor. Looked like pure spam to me.

I blocked him from my inbox also.

Jan 22, 2014 - 2:59pm

My Truck

What I find amazing is that my Ford F150 is not capable of transporting a 15 inch cube of gold.


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