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Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?

 
G3
G3

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10/25/2012 12:48 AM

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Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?

[link to www.zerohedge.com]


Submitted by Tyler Durden on 10/24/2012 - 20:51

Two days ago we reported that the German Court of Auditors demanded that the German Central Bank, the Bundesbank, verify and audit its official gold holdings consisting of 3,396 tons, held mostly offshore, namely New York, London and Paris, at least according to official documents.

It also called for repatriation of 150 tons in the next three years to perform a quality inspection of the tungsten gold.

Today, in a surprising development, via the Telegraph we learn that none other than the same Bundesbank which is causing endless nightmares for all the other broke European nations due to its insistence for sound money, decided to voluntarily pull two thirds of its gold holdings held by the Bank of England.

According to a confidential report referenced by the Telegraph, Buba reclaimed 940 tons, reducing its BOE holdings from 1,440 in 2000 to 500 in 2001 allegedly "because storage costs were too high."

This is about as idiotic an excuse as the Fed cancelling its reporting of M3 in 2006 because "the costs of collecting the underlying data outweigh the benefits."

cont'd:

[link to www.zerohedge.com]
Anonymous Coward
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10/25/2012 01:00 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
it obviously wasn't secret
Anonymous Coward
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10/25/2012 01:02 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Everyone is either - calling in all their physical reserves within the confines of their geographic perimiter for safe-keeping or


Sheltering anything of physical wealth in dependable vaults in dependable societies such as Switzerland.


The word is out. The economic collapse is close at hand.



martiallaw.co
•••Weltschmerz•••

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10/25/2012 02:13 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
I have been asking myself the same question...
The only possible answer is, they know something is going down.

Also, it is a confirmation that investing into gold was the right choice.
Anonymous Coward
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10/25/2012 02:16 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
stormer

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10/25/2012 02:20 AM

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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Everyone is either - calling in all their physical reserves within the confines of their geographic perimiter for safe-keeping or


Sheltering anything of physical wealth in dependable vaults in dependable societies such as Switzerland.


The word is out. The economic collapse is close at hand.



martiallaw.co

 Quoting: Anonymous Coward 22570032


Shit is getting real! flush
Emancipate yourselves from mental slavery - Bob Marley
Anonymous Coward
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10/25/2012 02:22 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Life imitating art, or....

recollector

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10/25/2012 02:27 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
it obviously wasn't secret
 Quoting: Anonymous Coward 26238392


Did you missed out that we are in 2012 NOW?

...while the move was made in 2001


...damn, just seen that your an aussie.You are forgiven.

iamwith
recollector
Anonymous Coward
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10/25/2012 02:41 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
 Quoting: G3


That was me. I needed some walkin around money. Nothing to worry about.
Anonymous Coward
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10/25/2012 02:48 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
the real question is why is most of our gold in new york and london? Bring it home. I like it.
Face Palmer
Yo mamma pulls catapults to gondor

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10/25/2012 02:54 AM

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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
I have been asking myself the same question...
The only possible answer is, they know something is going down.

Also, it is a confirmation that investing into gold was the right choice.
 Quoting: •••Weltschmerz•••


Shit is going down since Lehman 2008. Only the printing presses prevented something major so far.
[link to usawatchdog.com]
"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title."

Never attribute to malice that which is adequately explained by stupidity.
Anonymous Coward
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10/25/2012 03:26 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Maybe they just want to roll around on it naked. If I had alot of gold I would sprawl on it naked and pet it and kiss it. Then take pictures of me and my pile of gold doing fun stuff like playing scrabble and watching Hogan's Heroes.
ANHEDONIC

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10/25/2012 03:26 AM

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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
I just want this farce of a system to shit or get off the pot already.

"You will not be punished for your anger, you will be punished by your anger"
Anonymous Coward
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10/25/2012 03:52 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Because Gordon Brown was stupid enough to sell it at $274 an ounce.


Perhaps they didn't think it was real gold!
Rawfox

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10/25/2012 04:10 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
i heared in the news, that we can store our gold in NewYork and Paris for low, but in London we have to pay 0,035 pound for each gold bar.

it may really be a economic decision ^^
My rights trump your fucked thinking. - Trinity
Anonymous Coward
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10/25/2012 04:26 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Because it heard that Brown was selling all the UK gold and the Germans thought they were selling their gold!!

[link to www.goldmadesimplenews.com]
Anonymous Coward
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10/25/2012 04:51 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
PANIC FIRST, PANIC BEST
Anonymous Coward
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10/25/2012 04:54 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
it obviously wasn't secret
 Quoting: Anonymous Coward 26238392


Did you missed out that we are in 2012 NOW?

...while the move was made in 2001


...damn, just seen that your an aussie.You are forgiven.

iamwith
 Quoting: recollector


"Great Scot, Marty"

;)
Anonymous Coward
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10/25/2012 05:29 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Nothing major. There are just too many rich people in the world. They can't accept this and collapsing collected wealth.
Anonymous Coward
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10/25/2012 05:30 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
i heared in the news, that we can store our gold in NewYork and Paris for low, but in London we have to pay 0,035 pound for each gold bar.

it may really be a economic decision ^^
 Quoting: Rawfox


cruise
Anonymous Coward
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10/25/2012 05:33 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Because it heard that Brown was selling all the UK gold and the Germans thought they were selling their gold!!

[link to www.goldmadesimplenews.com]
 Quoting: Anonymous Coward 19085531


"Obviously the ‘storage cost were too high’ excuse is complete bunk so the Telegraph offer up a reason why they might have done it:"
Anonymous Coward
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10/25/2012 05:47 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
the real question is why is most of our gold in new york and london? Bring it home. I like it.
 Quoting: Anonymous Coward 26262912


Exactly.
Why should ANY soveriegn nation trust their gold
reserves to New York or London.
I wouldn't trust my piggy bank with these crooks.
Anonymous Coward
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10/25/2012 05:50 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
]There is no any German gold offshore. It was sold on the market to remain low price of gold. The same situation is with Polish gold "stored" in London in Rotchilds Bank.

bumpbumpbumpbumpbumpbumpbumpbump
Aunty Flo

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10/25/2012 05:54 AM

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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
They are preempting (is that the word?) a run on the gold by various countries.

This is a precursor to war.
Anonymous Coward
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10/25/2012 06:20 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
You know... Mitt Romney was so subtle on the last debate... hubby and I were talking that perhaps he know something big is going on ... why was he so nice to OBama.

I have been asking myself the same question...
The only possible answer is, they know something is going down.

Also, it is a confirmation that investing into gold was the right choice.
 Quoting: •••Weltschmerz•••
Johnny Be Good

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10/25/2012 06:22 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
They know that total societal breakdown is being engineered - and want their gold close to hand before they lose it!
Length of days is in her right hand; and in her left hand riches and honour. Her ways are ways of pleasantness, and all her paths are peace.
Buck Zander

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10/25/2012 06:36 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
2001? Isn't that like last century, at today's pace of events?

Not so doomy, for this Thursday morning. Need more doom, please! TIA
There must be a law that people can't lie.
Anonymous Coward
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10/25/2012 07:02 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Germany is sinking itself in guarantees for the EU bailout funds, of course it needs to hold the resources to cover those debts.

They are bringing it home in order to "show" that the underlying resources are available for when the EU bail out mechanism eventually fails....

which it will believe me.


hfhfhf
Anonymous Coward
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10/25/2012 07:07 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
I have been asking myself the same question...
The only possible answer is, they know something is going down.

Also, it is a confirmation that investing into gold was the right choice.
 Quoting: •••Weltschmerz•••


Shit is going down since Lehman 2008. Only the printing presses prevented something major so far.
[link to usawatchdog.com]
 Quoting: Face Palmer


^^THIS^^ CORRECT!

The shit IS CONTINUING to go down since 2008 but only the fiat money printing scam is keeping the smoke screen filled with smoke and mirrors so the whole Z!0Nist ponzi doesn't collapse overnight. But this is why they want to start a great war to detract from what they also know is going to occur.

Behind the scenes the SHIT is already hitting the fan and most Americans are too preoccupied with stupid TV shows and the latest gadgets like the iPhone5 to decipher the writing on the wall so to say. Or maybe they like the status quo and living as slaves?

Let me warn you all that your "economy" which you think is so stable is on the verge of collapse and it will not take much to bring it down. Maybe one insider with a conscience will come out of the closet and admit everything? Who knows? But what we do know is that the end of that corrupt financial/political system in Amerika is nearer than you all think!

bump
No Dhimmi
Proud Infidel

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10/25/2012 07:17 AM

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Priceless
Bernak is money
Background of my avatar: [link to en.wikipedia.org]

The religion of submission cannot survive an open and honest discussion of its convoluted and foolish scriptures, its sexually perverted terrorist prophet, or its deceitful and demented god. When Western leaders become unified and resolute in their hostility to Islam's violent and ungodly beginnings, Muslims will flee the religion because they will be horrified by its endorsement of terrorism, mass murder, slave trading, plunder, kidnapping, and rape.

If Muslims & their apologists really want to cure "Islamophobia," here is an easy way. Focus their indignation on Muslims committing violent acts in the name of Islam, not on non-Muslims reporting on those acts.
[link to www.cspipublishing.com]
[link to www.faithfreedom.org]
[link to thereligionofpeace.com]
[link to www.bibleprobe.com]
[link to www.fatherzakaria.net]

Ecclesiastes 10:2 “The heart of the wise inclines to the right, but the heart of the fool to the left.”

We are all born ignorant, but it takes a lot of work to keep looking the other way to remain stupid.

Islam is not a race - the racism rant is lame, used by the intellectually lazy to derail the debate.
Anonymous Coward
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10/25/2012 07:21 AM
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Re: Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Germany is sinking itself in guarantees for the EU bailout funds, of course it needs to hold the resources to cover those debts.

They are bringing it home in order to "show" that the underlying resources are available for when the EU bail out mechanism eventually fails....

which it will believe me.


hfhfhf
 Quoting: Anonymous Coward 26268281


^This is partly correct because of Germany now all but pledging to save the EU but in reality we (German/Swiss/Austrian) know that this mechanism will fail because math says it must fail or the whole EU will be a Weimar Republic times 5000) and so Germany is being cautious for when the shit hits the fan ... (very soon!)

hf

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