Bullion Bullies Blockade Bundesbank

Posted: August 16, 2013 by tallbloke in Accountability, government, Politics, Robber Barons, Uncertainty

  1. vukcevic says:

    Gordon Brown did extremely poor job by selling large chunk of the Britain’s gold reserves. The bullion was sold in 17 auctions between 1999 and 2002, with dealers paying between $256 and $296 an ounce. Today’s price is $1368.

  2. tallbloke says:

    Hi Vuk. “Poor job”? Treason more like.

  3. Scute says:

    Here’s a PBS frontline documentary on the history of the Fed:

    It’s long and a bit grainy but quite an eye-opener. At one point, about half way through, they give the history behind the planning and building of Fort Knox and describe why it was that even the US government wasn’t allowed in to check its own gold was in there, the Fed being a private entity.

    I first watched it 3 or 4 years ago. It was one 3 hr YT video. This is in 22 parts. I couldn’t find the original. Maybe deleted.

  4. oldbrew says:

    They’ve leased it out, according to Max Keiser and others. That’s why it’s going to be at least 7 years before Germany gets its hands on its own property.


  5. Graeme No.3 says:

    Tallbloke: Treason or his usual competence?

    There was a story at the time that it was to ‘bear’ the gold price to benefit Ashanti Gold, who had sold short and would lose over a billion if the gold price rose. Rumour only, no facts known.

  6. Stephen Richards says:

    Graeme No.3 says:

    August 17, 2013 at 4:11 am

    Tallbloke: Treason or his usual competence?

    I had to chuckle when at the start of the present financial crises, in part cause by Brown signing out the exchange controls, he went on the BBC to say that the UN should employ him to save the world because he was sooooo clever.

    They have employed but I can’t remember in what capacity.

  7. Doug Proctor says:

    The Fed is behaving just like a bank: a bank has to have <10% of its deposits in available cash. So Ft. Knox has only a small portion of its gold on hand, the rest being lent out for collateral or payment for works in progress or an income stream.

    All of this is irrelevant. It is understandable why a major depositor cannot get their original deposit back. I seriously doubt that Germany gavve the US its gold, even unwillingly at the end of WWII, without some income stream coming from it.

    To get their money – all of it back – by 2020, or 7 years, at 15%/year….. soundsl like income, but not from just the German gold, so a bit of a Ponzi scheme, get your money back by skimming off the profits from someone else's money. Let's hope the others don't want their money back.

    The non-return of gold to unfriendly countries in SAMerican and Africa is straight political protection. Do not make strong those who might be your enemies, and keep weak your friends, so that they are beholden to you for protection.

    The lack of actual gold at Fort Knox is significant only if there was neither mechanism nor intent for the Fed to use that gold for a third-party purpose. The conditions of gold being held, that is what we need to know at this stage, before we get all up in arms.

  8. JohnM says:

    “This is what had happened on an enormous scale by early 1999. One globally significant US bank in particular is understood to have been heavily short on two tonnes of gold, enough to call into question its solvency if redemption occurred at the prevailing price.

    Goldman Sachs, which is not understood to have been significantly short on gold itself, is rumoured to have approached the Treasury to explain the situation through its then head of commodities Gavyn Davies, later chairman of the BBC and married to Sue Nye who ran Brown’s private office.
    Faced with the prospect of a global collapse in the banking system, the Chancellor took the decision to bail out the banks by dumping Britain’s gold, forcing the price down and allowing the banks to buy back gold at a profit, thus meeting their borrowing obligations”


    And he may not even have HAD the gold anyway. Just as Germanys gold may not exist. Just as the US may, itself, not actually have the quantity of gold it says it has. And the gold may not even be gold, since significant quantities may be gold-plated tungsten. Just because the gold has been sold does not mean it has gone anywhere else! In a world where the “value” of derivatives supposedly is many times the worlds GDP, how can anyone hold any confidence in a financial status based upon rampant criminality?

  9. Looking for a place to post this. Thought this would be ok
    RE: trusting the US FED

    Shutdown grows more likely as House digs in

    Top House Republican leaders Thursday rejected the short-term spending plan expected to be passed by the Senate in coming days, increasing the possibility of a government shutdown next week.

    The shut down timeline