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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFederal Reserve Refuses to Submit to an Audit of Germany’s Gold Held in U.S. Vaults
The German government has been storing about half of its gold supply with the US FED, apparently in the NYC FED vaults. Germany decided to bring home all its gold, but the FED has said that isnt possible to do, and it would need until 2020 to be able to accomplish the transfer.
The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were security and no room for visitors. And nothing else.
Germany did finally send some staff to the FED, and they were permitted only into the vaults anteroom where they were shown 5 or 6 gold bars as representative of their holdings, and were permitted nothing else.
They apparently came a second time, and the FED did open only one of 9 rooms and let the Germans look at the stack of gold, but were not permitted to either enter or touch. And they returned home.
http://nsnbc.me/2013/04/18/federal-reserve-refuses-to-submit-to-an-audit-of-germanys-gold-held-in-u-s-vaults-2/
nadinbrzezinski
(154,021 posts)Ichingcarpenter
(36,988 posts)are playing games. The US says it will take 7 years to return germany's gold.
Its a tough job.
The CBC documentary explains a lot but is missing about 10 mins which is even more damaging which can be found elsewhere......on line.
mathematic
(1,439 posts)Haha, but seriously don't trust news from Nsnbc. Also, don't eat the M&Ns.
http://www.bloomberg.com/news/2012-10-25/new-york-fed-to-help-bundesbank-meet-gold-audit-requirements.html
nadinbrzezinski
(154,021 posts)Goodbye
I really have no patience for people who need to engage in personal attacks.
Welcome to my ignore list
mathematic
(1,439 posts)You overreacted about wind farms, just like you've overreacted about warehouse auditing minutiae (of all things).
Obviously, this message is intended for anybody else reading this subthread.
Dash87
(3,220 posts)He was just making a joke. Did you respond to the wrong post?
nadinbrzezinski
(154,021 posts)He's on ignore and will remain such.
Fumesucker
(45,851 posts)DetlefK
(16,423 posts)They used other people's property as collateral for investments and gambling.
I wonder what the Fed is gonna do when they can't get back the original gold bars with the original serial numbers.
Ichingcarpenter
(36,988 posts)part of it was censored that is not on youtube.
the gold held by the Bank of Canada, the Bank of England, the Federal Reserve and Fort Knox is gone that for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So, where is the gold and who really owns it?
GiaGiovanni
(1,247 posts)And where does one get the uncensored version?
Ichingcarpenter
(36,988 posts)in the end segment.
I can't give you the torrent link
GiaGiovanni
(1,247 posts)It would be nice to see the whole thing.
Ichingcarpenter
(36,988 posts)I just posted it.
The documentary you see is enough to question reality.
GiaGiovanni
(1,247 posts)There's a lot of questionable stuff out there on the net. It would be nice to have the complete version.
Ichingcarpenter
(36,988 posts)OK.... its not US based.
GiaGiovanni
(1,247 posts)Not that this directly affects media up there, but you can't assume a source is clean anymore.
Go Vols
(5,902 posts)jwirr
(39,215 posts)part of the feds.
Ichingcarpenter
(36,988 posts)on the FEDs and loans to banks before the fall
which I said was fishy to worrisome.
I use to post those in LBNs which were just a back news story which I was paying attention to.... I no longer have a star so the search for me doesn't work.
The Feds I consider a non democratic institution.
Gold is a con man's game just ask glen beck.
The Magistrate
(95,247 posts)That site seems, shall we say, a bit loopy....
Ichingcarpenter
(36,988 posts)This story has been around in the NYTs etc
but on the back page.
The Magistrate
(95,247 posts)Why bother electrons with this fever swamp?
nadinbrzezinski
(154,021 posts)The Magistrate
(95,247 posts)nadinbrzezinski
(154,021 posts)And search the google if you are truly interested in the story? You can be all kinds of a 19th century pretend don't know how to search the web
Once again, point your browser to google, and enter the string "Germany and gold reserves and audit" if you are truly interested.
The OP provided you a link. Many a times here, I have found a story and proceeded to do just that, search the web. Try that.
The Magistrate
(95,247 posts)And is what is offered as bona fides for the author:
http://www.bearcanada.com/
nadinbrzezinski
(154,021 posts)Use the google.
Ichingcarpenter
(36,988 posts)nadinbrzezinski
(154,021 posts)http://nsnbc.me/2013/04/18/federal-reserve-refuses-to-submit-to-an-audit-of-germanys-gold-held-in-u-s-vaults-2/
There is a blue link at the bottom
Ichingcarpenter
(36,988 posts)but nobody followed it.
Blue links......LOL
The Magistrate
(95,247 posts)The story there references only the author's blog....
nadinbrzezinski
(154,021 posts)When I am more interested in a story, which you obviously are, I use a search string in google. You might want to try that.
Granted, it happened yesterday with a local series of claims, and that is rare...I came up with goose eggs in the English press...but I found info in the Spanish press.
You are interested use the following search Boolean string, "federal reserve gold and Germany."
steve2470
(37,457 posts)The Magistrate
(95,247 posts)I am unable to find any mention of the Federal Reserve refusing to account for Germany's gold.
Perhaps I over-looked something?
There is an ancillary link in which a crank complains the Bank of England did not reply to an accusation he made in a manner which gratified him, but that is not something else....
steve2470
(37,457 posts)That's their version of the OP.
The Magistrate
(95,247 posts)It is in the author's comment on this article:
http://www.sprott.com/markets-at-a-glance/do-western-central-banks-have-any-gold-left/
This article contains no mention of the matter, though it speculates little gold is actually held in many central banks.
The claim the Federal Reserve would not account for Germany's gold remains without source but 'bearcanada' in Shanghai.
steve2470
(37,457 posts)I would think (call me naive) that if the Federal Reserve actually did that, it would have been reported in the MSM corporate media. Controversy sells ads.
nadinbrzezinski
(154,021 posts)This has a better chance to be on Project Censored list to be honest
The Magistrate
(95,247 posts)If it actually happened.
reorg
(3,317 posts)If instead of moaning and complaining you would put in the words "gold federal reserve bundesbank" at https://duckduckgo.com you'd get a number of links within seconds, among which are the following (on the first page of results).
As a result, in addition to safeguarding the reserves of over 60 countries, the Federal Reserve Bank of New York continues to hold 1,536 metric tons of German gold -- or nearly half of Berlin's reserves. This enormous hoard of gold is stored in the fifth subfloor of the bank's building on Liberty Street, 25 meters (80 feet) below street level, and 15 meters below sea level. According to the bank's website, the vault rests on the bedrock of Manhattan Island.
...
Finally, in 2007, "following numerous enquiries," Bundesbank staff members were allowed to see the facility, but they reportedly only made it to the anteroom of the German reserves.
In fact, auditors from the Bundesbank made a second visit in May 2011. This time one of the nine compartments was also opened, in which the German gold bars are densely stacked. A few were pulled out and weighed. But this part of the report has been blacked out -- out of consideration for the Federal Reserve Bank of New York.
http://www.spiegel.de/international/germany/german-politicians-demand-to-see-gold-in-us-federal-reserve-a-864068.html
The central bank now plans to bring back to Germany some of the 1,500 tons of gold stored in the vaults of the Federal Reserve in New York, and all of the 450 tons currently stashed with the Bank of France in Paris, according to Handelsblatt.
The central bank declined to comment on the report but on Wednesday will present a new plan to manage the gold reserves of 270,000 gold bars, the world's second-largest stockpile trailing only the U.S. reserves.
... the central bank came under pressure last year when Germany's independent Federal Auditors' Office last year concluded it failed to properly oversee its gold reserves. The auditor suggested the central bank should carry out regular inspections of the gold held abroad to verify its book value or change the reserves' management.
http://www.cbsnews.com/8301-34227_162-57564116/report-germany-to-recover-gold-reserves-from-n.y-fed/
German concerns mounted earlier this year after a delegation of German federal politicians requested an inspection of German gold reserves stored at the Banque de France, France's central bank, in Paris. The group were turned away by officials who said there were no visiting facilities at their vaults said Deutsche Welle, in an earlier report.
Read more: http://www.digitaljournal.com/article/335664#ixzz2aZ6yPoYs
The Magistrate
(95,247 posts)But you have not.
The first article has previously been posted here.
The second adds nothing new.
The third establishes that a 'no visitors' policy is general, and so further undercuts the claim in the OP, that some special skullduggery is a'foot at the Federal Reserve vaults.
The article linked to at the head of this thread is a grotesque exaggeration, serving as a lead in to claims central banks in the US and Europe actually hold no gold.
If the intent was to inform people about German policy towards its gold reserves abroad, it is obvious that links to real news reports could have been provided.
Instead, a link to a site specializing in high-test woo was presented.
Response to Ichingcarpenter (Original post)
Jesus Malverde This message was self-deleted by its author.
Cali_Democrat
(30,439 posts)of horseshit that is poorly sourced.
Been seeing a lot of this on DU lately, as if there is some sort of challenge to Infowars' monopoly on batshit crazy.
sufrommich
(22,871 posts)steve2470
(37,457 posts)The Magistrate
(95,247 posts)It does not say the Federal Reserve will not account for it.
Cali_Democrat
(30,439 posts)The Magistrate
(95,247 posts)Cali_Democrat
(30,439 posts)Any details of a fed refusal to audit besides the weak sauce source in the OP?
Brother Buzz
(36,440 posts)I heard all about them on Coast to Coast last night. First class entertainment.
http://www.coasttocoastam.com/show/2013/07/29
1-Old-Man
(2,667 posts)Duhhhhhh ....
sufrommich
(22,871 posts)are conspiracy theory sites like "NSNBC" which is also reporting that "Gardasil Destroys Girls Ovaries: Research on Ovaries Never Considered" and that "Bill Gates Polio Vaccine Program Caused 47,500 Cases of Paralysis Death".
nadinbrzezinski
(154,021 posts)They are reporting on it too
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/16/why-germany-wants-its-674-tons-of-gold-back/
http://www.spiegel.de/international/germany/german-politicians-demand-to-see-gold-in-us-federal-reserve-a-864068.html
The NYT did as well back in January
Use the google, you can do it
Oh lookie look, the very ct site at Forbes too
http://www.forbes.com/sites/robertlenzner/2013/01/19/the-germans-want-their-gold-reserves-back-in-germany/
Cali_Democrat
(30,439 posts)The point of the OP and a question a lot of people have is whether or not the Fed refused to submit to an audit and gave Germany the middle finger.
sufrommich
(22,871 posts)your own links? The Spiegel article even calls it conspiracy theory crap:
Such intense secrecy fuels legends. Many conspiracy theorists have suspected for decades that the German gold has long since disappeared. Others believe that it has been lent out. They contend that there are only promissory notes of little worth stored in the bank's vaults.
Another myth that has been making the rounds in nationalist-oriented German circles is that the US refused to hand over the treasure and threatened during the Cold War to withdraw its troops from Germany if the Germans demanded their gold back. Former Bundesbank head Karl Blessing, according to the theory, had to provide the US written confirmation that he would never do such a thing.
This letter, as it happens, actually exists, as Blessing confirmed in his last interview with SPIEGEL in 1971 -- except it doesn't concern the German gold, but rather US gold reserves. Until 1971, every dollar could be exchanged for the precious metal. Blessing thus promised the US Federal Reserve that he would no longer convert the colossal German dollar reserves to gold because this would have caused the currency's value to plummet.
You're confusing Germany debating whether it would be better off keeping their reserves in Germany with the Fed refusing to hand over the gold. The latter is nonsense.
nadinbrzezinski
(154,021 posts)Yes I read them...
Have a good long day. I am done. With you on bth is thread
Hubert Flottz
(37,726 posts)Along with all the wall street money that just vanished in 2008.
1-Old-Man
(2,667 posts)Now would be the time. That is of course if you believe the US has stolen Germany's gold and somehow sold it on the black market without it being noticed.